Friday, March 1, 2013

Bonus money!!

We received the remaining of our bonus at work. Not only that, but my manager recommended me for extra money that was available, and I got part of that too! All to the tune of $2430 (after $700 in taxes. What the heck?).

So, what did I do with that money?

Buy things I've always wanted of course! Like the Kindle Fire HD tablet, the new Blackberry Q10 smartphone, decent work clothes, and a professional Nikon camera.

... No, not really. The Blackberry Q10 is not even out. You get brownie points if you caught that. My habits have become me, and even though I won't lie and say that spending it all on fun goodies is not what I'd like to do, it really isn't. I have better ideas.

I've been thinking and thinking of ways to use this so that I get to keep some of it... then I realized this: it is ALWAYS going to benefit me, one way or another. If I use it all to pay down balance on my debt, I am giving myself more money in the future to pay for my move years down the road. If I fund my 2013 goals now, I'm releasing money from this year that I can use it in other things. If I buy things for myself... well, that's an easy one.

That said... my primary choice is to ease my 2013 burden by aiding some of my financial goals for the year, right now. That'd mean $700 would go for my Christmas fund, $230 for my certification exam, $250 towards fixing my car windows, $1,000 to open an IRA. Then as a bit of a 'fun' fund, I'd take $250 to put towards a new phone. That would only cover between half or 1/3 of the cost of the phone, as I am sure it'll cost $500+ out of contract. The rest, I have to find elsewhere.

I opened my IRA this morning (hurray!), filed my federal taxes (yay!), need to send a check out as MD wouldn't let me eFile or send in electronic payments (boo), and moved most of the remaining money to where it needs to be (or so I hope). All before even getting ready for work.

What do you think of that plan? Should I put some extra towards debt, even though I'll be putting approximately $600 every month now that taxes are paid for? As much as I covet a tablet, I'd rather not get one now. I see a new smartphone as a bigger reward. Sometimes I hate being disciplined like this. I am going to my dad's for the weekend, so maybe I'll spoil myself there (not really spoil, but buy food stuff that I dont need to cook).
Posted by Tania at 4:59 PM

15 comments:

  1. One FamilyMarch 1, 2013 at 5:08 PM

    Congrats on the bonus! That is sure nice and looks like you ares saving/spending it wisely. Like you said - it's all good :-)

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  2. Kathy Skinner (Kat)March 1, 2013 at 5:57 PM

    Sounds like you are putting a lot of thought into how the money should be spent! Kuddos to you:)

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    Replies
    1. TaniaMarch 2, 2013 at 10:26 AM

      I tried. I'm a bit OCD when it comes to planning. Guess it pays off some days.

      Delete
  3. Nd.chicMarch 1, 2013 at 7:31 PM

    I think you should spoil yourself a little bit. Congrats on your bonus!

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    Replies
    1. TaniaMarch 2, 2013 at 10:27 AM

      Oh, the phone will be a complete spoil, if I can afford it, once it comes out. Haha.

      Delete
  4. LenaMarch 2, 2013 at 12:25 AM

    Nice!! I think you made smart choices but I think you need to spoil yourself a little too :) You deserve it!

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    Replies
    1. TaniaMarch 2, 2013 at 10:29 AM

      Don't give me any ideas! Ha-ha. I'm trying to take the $250 phone allowance to stall off any desire to go spending.

      Delete
  5. HS @ Our Debt BlogMarch 2, 2013 at 9:11 AM

    AWESOME! nice bonus.

    HS

    ReplyDelete
  6. Ms. SMarch 2, 2013 at 10:02 AM

    First of all, congrats on the bonus! My company still has not told us if we're getting bonuses this year nor have the even told us if we'll be getting merit increase. Kidding me? It's March people!!!

    Anyway, I think you did a great job making that bonus work for you. I'd do the same and get myself closer to my goals. And it looks like you have your treats that you desire as rewards for accomplishing goals so the way I look at it, what you did put you even closer to the reward. I'm looking forward to an iPad when my debt is paid.

    Have a great weekend.

    ReplyDelete
    Replies
    1. TaniaMarch 2, 2013 at 10:29 AM

      I know what you mean. My company loves mystery, so we didn't learn of the bonus until we got it! Thanks for the comments. Hope we get to our new techie gadgets soon. Though mine will depend on Blackberry actually releasing them on time, haha.

      Delete
  7. ~Carla~March 2, 2013 at 11:17 PM

    That's a sweet bonus!! I think you're being very wise with your money! :) I can't wait to receive our income tax refund, most is going into savings! Boring! lol!

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  8. JaneMarch 3, 2013 at 1:48 PM

    As a Canadian I caught the Blackberry reference and am happy there are still people out there, like you, who are still loyal to RIM! (Not me, though, I have an iphone haha, but only because it was a free upgrade with my cell package:). Oh how I love getting a windfall of $$ and deciding what to do with it. I would definitely top up what I could as far as savings goals and use some for debt reduction too. That's very mature of you to realize any debt reduction now will benefit you in the future and not run to the mall to spend it all. It would be a "high" to shop but would only last til you got home and then you'd regret it. My biggest piece of financial advice ever would be to PAY DOWN DEBT - cause the interest rates WILL GO UP eventually!

    ReplyDelete
  9. AnonymousMarch 3, 2013 at 8:52 PM

    I would have put it all toward the cc debt, honestly. Don't you want to be rid of that as soon as possible so you can move forward?

    ReplyDelete

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