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Tax Refund Arrived - EF is Fully Funded!!!

February 16th, 2008 at 10:34 am

WooHoo! I checked my ING checking and the IRS deposited our federal refund yesterday as promised. Big Grin

I now have $5,000 in our EF!!!!!!

There is some leftover from the refund which I have put aside in a separate ING savings. I'll wait until we get our state refund and then decide where to allocate the rest of the money. I am just thrilled to have a fully funded EF for right now. Smile

Filed Taxes & Another Rebate Received

February 6th, 2008 at 10:19 am

I lost my patience waiting for the college to send me the amount I paid in tuition/fees in 2007 - Actually they sent it and it was BLANK! I called and they said they can send me something else showing the amounts, but I just can't wait another day. I went online and multiplied the number of credits I took by the amount they charge per credit and used that for the taxes. It ended up having absolutely no effect on the taxes since even without it we were getting everything back plus the EIC since we were so "poor" this year. I should be posting a full EF in just a few weeks!!! Big Grin

I still have not made a decision about the rest of the refund money. We shall see.

I am adding $7.99 to the EF today for the last Free-bate from my contact lens solution which I received yesterday. I am over 1/3 of the way to my $5,000 goal now. Smile

New EF Balance: $1,701.67

Taxes & Refund Money Dilemma

February 1st, 2008 at 08:27 pm

I have all of our W-2s and 1099s ready to go, but am waiting on a statement from my school (tells how much I paid last year in tuition/fees so I can get a credit), and the statements from SallieMae for both of our student loans (tells how much we paid in interest on our loans and lowers our AGI).

We will definitely be getting a refund this year so I'd love to get moving and get the taxes filed. I started putting the information we do have into TaxSlayer (free federal and state filing for us this year), and found out that I also have to wait until after February 8th for a certain form that the IRS has not yet released for 2007 (I think it is the form to report the school tuition/fees actually). Frown

I am anxious to receive the money so I can put my plans into action. Between refunds from federal and state taxes, we should have enough to reach $6,000 in the EF and have some leftover.

The leftover amount will probably be about $800. Here is where I have been second-guessing myself. I intended to put the money over and above the EF towards the $8,800 credit card that is at 0% until Feb 2009, but now I am wondering if I should put it toward a trip to DisneyWorld for the 3 of us.

My daughter has never been and she will be 10 years old this year. I am feeling sad that we have not been able to take her and, while I know she is still a little girl, she is getting older. We have alot of plans (pay off debt, buy a house, save for her Bat Mitzvah, etc), and if we don't do it this year I am afraid we will not be able to do it for another 4-5 years or more...and then she really will miss the magic of seeing Disney through the eyes of a child. :'(

I guess I will talk it over with my husband and see what he thinks, but his eyes tend to glaze over whenever I try to crunch the numbers with him.

ING interest added for January

February 1st, 2008 at 07:37 pm

I just added the interest paid from our ING accounts to our EF. Between all the accounts we made $10.31 in interest. Smile

New EF Balance: $1,668.68

Edited to add: I also realized while looking at my YNAB program that I have an extra $25 to put into the EF. This is from an insurance premium that I had budgeted for in January but the policy did not go into effect until February. The other part of the money I used to spread a little love to some other budget items. Smile

New EF Total: $1,693.68

EF Update

January 31st, 2008 at 07:21 pm

Received my last paycheck for January today, so I put my standard $100 into EF plus the dollars and cents from the paycheck ($7.06).

New EF Balance: $1,558.37

BUT, this paycheck is also the first time I am getting 3 paychecks in one month for 2008. It will happen again in July. Smile
Because of this I have a bit of "extra" money that has not been allocated. Therefore, I will also be adding an additional $100 to the EF this month. WooHoo!!! Big Grin

New Total EF: $1,658.37

$3 added to EF

January 30th, 2008 at 01:58 pm

My husband sometimes plays the lottery but never wins. (Story of our lives, right) Wink

Anyway, back in December he tells me that one ticket has one number plus the special ball (Mega Ball or Super Ball...can you tell I don't play?), but he is going to throw out the ticket because it's probably only worth a dollar or two. *Picture my mouth hanging open in disbelief*

I took the ticket in today and got $3 to add to our EF. I was pretty happy about it too. Big Grin

New EF Total: 1,451.31

Playing the Balance Transfer Game

January 21st, 2008 at 06:13 pm

Yep, I'm back in the game after a 2 year hiatus. When I was in school it was just too much time and effort to keep a close enough eye on things to play the game, but now I am back and (hopefully) better than ever. Smile

I had 2 credit cards (my DH has 2 also but I keep them separate from mine...lesson learned the hard way not to put his debt in my name). Anyway, CC#1 was offering 0% through my January 2009 statement with a 3% transfer fee/maximum $75. CC#2 was offering "no-fee" transfers at a low rate. So I transferred my balance from CC#1 ($700)over to CC#2 to clear it of any balance (at no charge), then I transferred back the whole amount ($8800 = balances from both cards) to CC#1 at 0%.

I have been playing with the numbers, and if, once I reach $5,000 in my EF, I put all my future EF payments toward this debt plus part of our tax refund plus the usual payments I was already making it will be close to paid off before the 0% expires (about $1,000 left). After this is paid off I will resume $200/mo to EF and start $200/mo toward a down payment on a house and snowball the regular payments into our next debt.

I am just completely sick and tired of paying interest on this money. I have probably paid them 3 times over the balance in interest over the many years I have had this never-ending revolving debt. It is stopping NOW! I am definitely seeing what Dave Ramsey means by "gazelle intensity"! Wink

Received 2 rebates today

January 19th, 2008 at 06:29 pm

Mailman delivered 2 rebate checks for $8.99 each - it was a Free-bate offer for my contact lens solution. The beauty of this rebate was that it read "one per person", not "one per household", so I was able to send one in for me, my husband and my sister. The last one should be on its way to me soon. Smile

I also made my biweekly deposit of $100 from my paycheck to the EF so...

New EF Balance: $1,448.31

Extremely Upset about job

January 17th, 2008 at 06:57 pm

Today was payday so I am adding $4.44 to my EF bringing the new EF total to $1,330.33.

In other news, I spoke to the boss about the medical insurance and she assured me that it will be in effect as expected. I also called the insurance company to check and all seems to be in place now. While this is great news, I am very upset right now because of another thing that was said in the same conversation with the boss. When I was hired, it was stated that they would pay 50% of my insurance for the family. Now they are saying they are going to pay 50% of just my portion and I will have to pay 100% of the family portion. Frown I don't even know how much it will be yet as the boss said the bill was not clear so she has to call and talk to them again. I won't find out until I am paid in 2 weeks and there is some mystery amount withheld from my paycheck!

I am really feeling like I have been taken advantage of which sucks because I actually like my job, my coworkers, etc, and I did not speak up today like I probably should have (okay definitely should have). The problem is that I was told "X" when interviewed and offered the position and now it seems that almost every detail has been changed!!! Of course, this is my first job in the field, I am just starting to feel comfortable with my job and I don't want to have to go through looking for another position so soon! I am not even telling my husband because he would completely flip out and want me to quit this job and find another. *sigh* I guess I am feeling like at least this is the devil I know. Plus I really just need to work so we can have a healthy EF and get out of debt, especially with all this talk of recession/depression.

Any insights?

Nearly tripled my money!

January 12th, 2008 at 01:53 pm

Okay so it was a very small amount, but I was giddy with excitement last night. Smile

I took my hubby to Atlantic City to see Don Rickles for his birthday. We had dinner and had a little time to waste before the show, so we put a few dollars in the slot machines. He played (and lost) $5 on video poker, then I put in $1 on a very strange nickle slot that I could not understand so I lost that. Oops. We both rambled over to another section of nickle slots and put $1 apiece into different machines. He bet his whole dollar on one spin and lost. I bet 5 credits (still have no idea how much that actually was...maybe 25 cents) and WON! It kept adding more and more credits until I had a final total of $20.65! Seven of the $8 we spent was mine, so I nearly tripled my money. I cashed out, took my money and ran. Big Grin

After that we went straight to the show and really laughed and enjoyed ourselves. It was a great night...and I wound up with $13.65 to add to my EF.

I also received my check from ViewPoint Forums for $34 which will be deposited to my EF Wednesday (my next day off from work).

New CF Total: $1,325.89

Hold the phone!

January 9th, 2008 at 05:08 pm

I just opened my mail and found a check for 2 weeks ago when I filled in at a friend's office for the day. I am continuing to add the ones place and the change to the EF, so $7.50 added. WooHoo! Smile

New EF Balance: $1,278.08
plus $0.16 interest earned at my credit union last month...

Total EF Balance: $1,278.24

I think I can...I think I can...I think I can.... Wink

Reached a Milestone in my EF

January 8th, 2008 at 07:09 pm

I cashed in $40 from my Lightspeed survey account via PayPal last week.
It just showed up in my local bank so I will be transferring to the EF at ING today.

I am also waiting on a check for $34 from Viewpoint Forum (another survey site) so I will posting another EF deposit as soon as I receive that money. WooHoo! I am so excited that the EF is growing so rapidly now that I am really looking in every nook and cranny for extra cash to fund it. Smile

New EF Balance: $1,270.58
With this deposit I've surpassed 25% of my $5k goal!!!

Received a Rebate Check today

January 4th, 2008 at 05:45 pm

I received a "Try it Free" rebate check today from YoPlait YoPlus yogurt, so I have another $2.99 to add to our EF...and the yogurt was pretty tasty also! Smile

New EF total: $1,230.58

Thought of another way to save more $

January 3rd, 2008 at 08:15 pm

I got paid today and even though it is a very small paycheck (office was closed from 12/22 - 1/2) I had an idea. As I logged it into YNAB under Income:Primary I decided to automatically place the amount in the ones place and the change into my EF category. So, for example, if my check is for $548.44, I will budget $8.44 to the EF before allocating my other categories. I'll automatically have to live without that money so I shouldn't miss it. I get paid every 2 weeks so that should give me a good bit of extra money toward the EF each month. I really feel like I am getting the new year off on the right foot for once! Smile

Tomorrow's EF deposit will be: $4.55
Making my new EF total: $1,227.59

Earned Interest plus Cash Back go to EF

January 2nd, 2008 at 07:54 pm

I am so excited! I totally forgot about the interest we would earn on our ING accounts for December plus the 1% cash back promotion on the Electric Orange debit card. I just checked my accounts and we earned a total of $14.87 that I just moved into our EF!!! WooHoo!!! Big Grin

New EF total: $1,223.04

Changed my mind about the change

January 2nd, 2008 at 09:50 am

Last night I said I would put my "found money" - rolled coin and Pinecone check into my EF. This morning after looking over my YNAB budget I decided to put all bits of extra money such as this into my Roth IRA.
I added a new ticker to show the gold bars moving closer to the retirement treasure chest! Smile Right now I am aiming to contribute at least $2,500 toward the Roth this year, but in reality I'd love to save the maximum which is $5,000 for 2008. I'd love to have to go in and make a new ticker showing the extension from $2,500 to $5,000 before year end but we shall see.