Nice tax refund on the way
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| Tue, 04-25-2006 - 11:28am |
I finally did my taxes on the morning of April 17th because that was the last day to mail them. Usually I have them done earlier, but this year I wasn't desperate for the money in February or anything so I held out knowing that I would spend it if I had it sooner.
I am getting about $4500 back total between federal and state. My daughter and I just took a trip over Easter break last week down to North Carolina, which will take about $1,000 out of that. (Trip was planned before I decided that getting out of debt should be a priority.) Another $500 to the emergency fund, and a couple hundred set aside for the very cheap week in Wisconsin that we do every July. That will still leave almost $3000 to send in towards credit card debt. Right now the credit cards are around $11,000 total on 6 different cards. This will pay off the three lowest ones of the six. It is going to feel great to get that amount under $10,000 and to be rid of 3 of those 6 bills that come every month.
I know it isn't great to give the government a $4000 loan, but my pay structure is kind of odd. I get a salary during the year and then one large bonus at year end. They tax the bonus *very* heavily, which is why I ended up getting the amount back that I did. The bonus is dependent on production for the year, so it isn't a guaranteed amount that I can plan on so I hate to adjust my witholding numbers. This way it kind of ends up like one bonus in December and one in the spring when the tax refund comes in.
Heather

Heather-
That is great!! You are not only getting rid of 3 bills but creating a nice snowflake to boot. It will be a happy day when all that comes in. Our cc is under 7k and we are so happy. The average american family has 9200 in cc debt. Soon you will be below average and happy.
We go to the Dells a few times a year(we live in plainfield) and love it. We wish we could live in Wisconsin it's so gorgeous.
Loca
We go to Montello, WI for a week each year. It is about 45 mins east of the Dells, and we do get over to the Dells and spend some time over there. We share a 2-bedroom cabin with a friend of mine who comes down from Minnesota, so my portion of the cabin is only around $340 for the whole week, which I pay a little at a time in advance, so I only have to worry about spending money. I'm certainly not going to feel "guilty" about it. Maybe I'm not "gazelle intense" but I think some things in life are worth doing even if it does mean my debt takes a little longer to get paid off.
Heather