A refund! And other news

iVillage Member
Registered: 03-27-2003
A refund! And other news
4
Tue, 03-22-2005 - 6:45am

I've been reading about everone's refunds and thinking, "Well, we carefully planned it so we *wouldn't* get a refund, because we don't like loaning money to Uncle Sam all year..." but also feeling a little jealous LOL!

Then, come to find out, that because we bought a house, had a second baby, donated a lot to charity, and can write off automobile property taxes now that we're itemizing, we are getting more than $2k back!!!!!!!!!! What a pleasant surprise! I kept my fingers crossed and didn't tell anyone until the return was accepted by the IRS, but it has been accepted and the check will be deposited into our account in 1 to 2 weeks. Wow!

Well, in other news my business is going really well. I'm doing training this week for a company here in Charlotte--the second check at the end of that training will represent a profit for me. Additionally, dh's company has just hired me to re-write their website, to the tune of several k.

The plan is, the profits from the business will be divided up in a manner that supports the on-going success of the company, and then the surplus will be sent directly to our debts. We could be out of debt in as little as ten months if things continue as they are! For reference, we have been working on this debt for more than three years and our current plan, without the extra from my business, calls for as much as another three years. And for those of you just starting your journeys, let this be an encouragement to you. When we began, we were nearly 30k in debt and packing up our belongings to go live with in-laws because we couldn't pay our bills any more. We've worked long and hard, and things are really turning around for us. The first year or two went really, really, really slowly. But the further we get ahead, the faster we get ahead. It rebounds on itself. So keep plugging and don't get discouraged!!

Anyway, since we're already paying so much extra to debt, we're going to allow ourselves to have fun with the tax refund. Of course, the first 10% goes to charity--that never changes. This has been fundamental in our financial recovery, and we do not compromise on that.

We haven't had a vacation in six or seven years (gosh, actually, I don't know that we've ever had what most people think of as a proper vacation). So we're combining some of the refund with money we already have set aside, and taking an entire week to share a luxury home with some friends in the outer banks (beach). We're taking $500 in spending money--whoa!! I've never had that much money to just "blow" on vacation!! Of course, we'll buy food with that too, but we plan to eat "out" only once a day, so we should still have spending money. We're gradually stockpiling snacks and treats to take with us so we don't have to spend a lot of money on that kind of thing while we're there.

Then, we're using another $500 to combine with the money we have set aside to visit my folks in Colorado this Fall, so that we can not only buy plane tickets, but also have some spending money there.

We're going to buy a new dishwasher--holy cow, we've been wanting one. And we're going to buy a NICE one. Planning to spend around $500 on that. Maybe more. Recommendations for brands, models, etc.?

Then we're going to put a small amount in a savings account for "deals" as they come up on things on our "want" list.

And the rest we're going to split in half for personal money. I'm planning to spend mine on gardening supplies and plants. Dh will spend his on whatever crosses his mind to want LOL.

Wow--I can't believe we have so much money to throw around!! I know we could apply it to debt and be out of debt that much sooner, and we *have* done that with "extra" money for the past three years. But we've worked SO hard and it's time to reward ourselves. These are all things we've been really, really wanting, and we're paying for it all in cash, so it feels good.

When we first found out about our refund, dh wanted to spend it all on a plasma t.v. Of course, he was only half serious since he knew there was no way I would agree to it. But he does really, really want one. I pointed out to him that when our debts are paid off, we could save for one in two months with the money that is currently going toward debt. His eyes lit up, and in a moment of inspiration (or insanity, hard to say which), I told him that that is exactly what we would do as soon as it was all paid off. Boy, oh, boy--is he ever on board to pay off debt now! He was so excited. LOL

Anyway, thanks to anyone who has made it this far. As you can tell, I'm pretty excited. And grateful to this board for all the many people who have held my hand along the way and encouraged me. You guys rock.

Blessings,

Heather

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Tue, 03-22-2005 - 8:48am

Aw Heather - your post just warmed my heart this morning.

All my best,
Danni

iVillage Member
Registered: 07-06-2003
Tue, 03-22-2005 - 6:05pm

Heather,

I'm happy you got a nice windfall! Have a great vacation by the beach...that is where I would love to be right now!

You are a true inspiration to everyone here on this board; including me.
I too started with nearly $30K of cc and other bills a couple of years ago and the going was certainly rough and slow for the first while. But I would get so excited as the snowballs grew bigger it was addictive for me :)
When we paid the last debt owing last June I was so happy to share that with this board because I knew so many here understood the sacrifices my dh and I made to accomplish that.
Staying debt-free is actually easier than I thought it to be because I always look back at my debt spreadsheet and remember how $30K was so easily wasted on things I no longer even have.
I also keep that spreadsheet to remind us of what we can do when we set our minds to acheive a given purpose/goal.

I am glad to hear your business is doing well. As for the dishwasher, we will finally have our first one EVER as it's was included in the condo purchase. Apparently it's a Kenmore that runs very quietly.

Happy shopping; you do deserve it!
Kassandra

Kassandra

"It is said that life has its peaks and valleys.  The challenge is to accept them equally and experience them

iVillage Member
Registered: 02-25-2004
Wed, 03-23-2005 - 10:30am

Yippie for you!! :) What good news to hear from the IRS that you are indeed getting some back. And I think it's great that the business is doing well....It sounds like you guys have worked really hard on this debt (be proud of yourself :) and it'll be nice to spoil yourselves just a little.

Keep up the good work! :)

iVillage Member
Registered: 05-10-2004
Wed, 03-23-2005 - 10:51am

Yay Heather!