Thursday, January 3, 2013

Tax increase...

My first paycheck of the year reflected the 2% tax increase, or $30 taken out of each paycheck, which seems to me more than 2%, but I don't feel like breaking it down to be honest! I know it sounds small and insignificant... but considering my non-debt allowance is only $160/check, it sucks.

With my spanking new 4% uber super awesome car insurance discount (which they conveniently forgot to apply to my renewal bill and I'll have to call about in Feb), I can help pay for this. Well, not with that meager discount, but I over planned my insurance bill by $5/mo, with the hopes I'd have $30 extra to sneak as a very small snowball at the end of each 6-month period. Not anymore!

Here are the adjustments to my budget to accommodate the extra $30:
-From paycheck 1: $5/mo reduction for car ins savings, $10 from my "I was almost implemented!" $50 extra money, and $15 will come out debt repayment. But since I got excited and paid the credit card snowball this morning instead of waiting for the check to post on Friday (can I get Rhitter's URAH for a snowball the size of $590?!!), the $15 for this month will also come from my extra.
-From paycheck 2: $30 reduction in my debt snowballs.

This planning is all preliminary, as I have a lot of toying to do. I'm afraid before January is over, I'll receive more challenges/surprises (namely, tax bill!). This year is the year of surprises. Let's just hope there are some nice surprises later on.

9 comments:

  1. If it was me(and it ain't)this January? I'd pay my usuals and minimums and put any extra money aside until the month is over. Then I'd sent it off to whatever snowballs you had planned. That way if the extra cash pile isn't as big as the plan said it would be, you can shave a little ice off of the snowballs any which way you want.
    Brrr....now I'm cold with all this snowball talk. lol

    And a big old URAH! for a $590 snowball IS in order!!!

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    1. I don't think I could wait until the end of the month to make these snowball payments... I'm slightly addicted to seeing my balances go down. Ok, maybe I do need to wait it out a little! At least till the checks are posted and all other things are sorted out...

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  2. I agree with sluggy you can always take a way a little if you have to.

    But CONGRATULATIONS for paying off 590.00 that is a huge amount!

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  3. I too will get overexcited and pay things too quickly. I am trying to be more disciplined and wait. For example, G-man gets paid on Monday...and I am tempted to pay the bills (to come out of the account on Tuesday), but since I don't know the exact amount, it could backfire.

    Yay to your big snowball!

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    1. Yeah, that's what I try to do... pay early and the amounts just hit the account this morning after the paycheck hit the account. I will stop doing that. It will eventually backfire indeed.

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  4. At least you have it figured out how to cover the extra 2%. Good job! I still have to get that part done :( $110 is a little harder for me to find, unfortunately.

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    1. $110 would definitely throw my budget out the window... good luck sorting that out!

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  5. Congrats on the snowball! I've figure out how much wll be coming out of my check. What I haven't figured out is how much having the Princess back at home is going to cost. I really want it to be a bit cheaper than before!

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