Handling Finances

I just received a profit-sharing check I wasn’t expecting.  Since I got married and got a new job half way through the year, I’ll also be getting a much larger tax rebate check than I was expecting.  What am I going to do with this unexpected money?  Exactly the same thing I was planning to do with the rest of my money of course!

I have a regularly updated set of financial goals that I put money toward as well as a general budget that limits everyday spending.  My goals don’t start and stop at retirement, but include a vacation to London this summer and a down payment for a new house.  I also want to put a new camera on my goals list, but I have to push that through whe wife-filter first.  I’ve found that if I just enjoy spending the extra money, I always end up spending more than I received.  For whatever reason, I stay in the mindset of “I can afford to splurge” much longer than the money actually lasts, so simply spending it isn’t an option for me.  Instead, I simply spend the extra money on things I’ve been saving for.

I’ve just about paid for our London trip out of regular earnings, so my tax rebate and the profit sharing will go toward putting me slightly ahead of schedule on my saving for a mortgage.  Later in the year, when I re-evaluate my goals, I’ll take a look at where I am and probably end up a month or two closer to purchasing a house than I’d planned.  I won’t get a new camera today and I won’t be able to eat at restaurants for the next month, but I’ll be able to accomplish the goals that I value most a full month sooner!

This entry was posted on Saturday, February 2nd, 2008 at 3:08 pm and is filed under Personal, Saving. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.