Being financially responsible can sometimes be 'boring' but it feels good!
Results 1 to 8 of 8
  1. #1
    Registered User khaski's Avatar
    Join Date
    Sep 2008
    Posts
    2,038
    Post Thanks / WTG / Hug
    Rep Power
    25

    Default Being financially responsible can sometimes be 'boring' but it feels good!

    Not a 'we paid one off' post but a success on our end none-the-less....hubby has his own machine shop he works part time out of our garage. Where we live, NH, small businesses don't pay any taxes until they hit a certain income level- then it's 8.5% due (ouch!). Our state has no 'regular' income tax. We are VERY good about putting away taxes when $ comes into the business, we put away 30% to cover federal and state taxes- though we've never hit the income level to have to pay the state, we plan for it anyways. We thought we'd have to pay taxes to NH for 2011....hubby met with our tax guy last night- nope, just came in under the amount. So after paying our fed. taxes for the quarter, we have $4349 'extra'!

    Now, we're planning a vacation to the Carribean next Dec, IF we save up enough to do it. Hubby is also itching for a 'project car'. This amount could have covered either in full, and boy, was it tempting....but we were good, we put $4k towards opening a Roth IRA for hubby! We are behind on our retirement for our age, so to be able to put 4k out of the 5k allowed for the 2011 tax year into a new roth is exciting to me! The last $349 extra we split between the vacation, next new car, and 'fun car' accounts.

    A warm vacation or toy for hubby would have been fun, but I do feel good and proud of us we did the 'right' thing instead of the easy 'fun' things! Our vacation and 'toys' will come, but it feels good to put it towards our future. A success, in my book! and I'm not counting it towards my savings goals for the year, since it was totally unexpected!

    Just a few years ago we would have 'blown' this money without a second thought or even if we had just become debt free as we did in Oct., would have spent it on 'fun' because we 'deserve' it after working so hard to become debt free. Tallied up our liquid worth mentally last night- while it's small # to many, it's a big # to us as we've never had that much $ saved before....EVER!

    sorry to ramble, but it feel soooo good- both to have that unexpected $, and to be responsible with it unstead of catering to our whims!

  2. #2
    Registered User Lady_V's Avatar
    Join Date
    Aug 2006
    Location
    Massachusetts
    Posts
    3,298
    Post Thanks / WTG / Hug
    Blog Entries
    13
    Rep Power
    34

    Default

    You did great! I know first-hand how "boring" it can seem to others, but those same people have no idea how it feels to NOT be paying every penny out to someone. A vacation that you don't have to sell an arm and a leg to pay for feels SOOOOO much better!

    Just so you know... I took a cruise to the Caribbean islands, flew out of Logan to San Juan. If you are careful while on-board, a cruise can be a lot more affordable than a hotel. Bed, meals, entertainment, a different port-of-call every morning. We're taking a cruise in July (on Carnival) and we can each take a bottle of wine and a 12 pack of soda in our carry-on bags. Soda cards are available for something like $8/day, but coffee, tea, iced tea and lemonade are free. If we want a soda, we can go back to our room. We also thought about drink coupons, but I am not a drinker, and OldMan said he would be happier sipping the wine we brought from home on the balcony, than spending $$$ for a glass at dinner.

    JetBlue flies out of Logan and flies to San Juan... they usually have low, LOW prices (I flew home from Baltimore for $39)

  3. #3
    Registered User nodmicks's Avatar
    Join Date
    Sep 2004
    Posts
    6,988
    Post Thanks / WTG / Hug
    Rep Power
    45

    Default

    You should be so proud of yourselves!

  4. Remove Advertisements
    FrugalVillage.com
    Advertisements
     

  5. #4
    Registered User khaski's Avatar
    Join Date
    Sep 2008
    Posts
    2,038
    Post Thanks / WTG / Hug
    Rep Power
    25

    Default

    Thanks Lady V- we are looking at going to the Dominican Republic to an all-inclusive...air fare would be the biggest expense for the 4 of us, I'd fly out of Logan or Manchester/Boston....seems either way we route through NYC or Miami...will look into Logan-San Juan-the DR- may be cheaper (I hope, other wise last I looked it was $700-800 EACH-yikes!),

  6. #5
    Moderator Ceashels's Avatar
    Join Date
    Apr 2007
    Location
    Baltimore, Md
    Posts
    4,028
    Post Thanks / WTG / Hug
    Blog Entries
    2
    Rep Power
    38

    Default

    You and your husband are made of awesome!!! Congratulations for laying more of the foundation for your future; it shows a keener perspective of where your are at now and where you want to be in the future.

    Kudos to you both.

    I think you can have fun celebrating your success with some Caribbean jerk chicken wings, some pina coladas and some steel drum music in the background.

    *disclaimer - I am not responsible for what happens in your celebration.

  7. #6
    Registered User
    Join Date
    Dec 2011
    Posts
    18
    Post Thanks / WTG / Hug
    Rep Power
    0

    Default

    Khaski - your post was very inspirational! I am sure on this journey I will become discouraged and tempted to buy things once our budget loosens up, but I am ready to be an adult now (at age 42...) with my finances. Thanks for posting things like that b/c it keeps me motivated. My biggest challenge is going to be with my kids and saying "no" to them. I've implemented an allowance and have vowed to say "take it out of your allowance" if they want something.

    I have a small success story...in November I rec'd a bonus from and paid it straight to a loan. It was a great feeling once I finally did it, but I can't say it was easy. I sent the payment in FAST to avoid the temptation of buying things.

    Thanks again!

  8. #7
    Registered User hmcart's Avatar
    Join Date
    Dec 2007
    Location
    Tennessee
    Age
    40
    Posts
    460
    Post Thanks / WTG / Hug
    Rep Power
    15

    Default

    That is awesome! We usually have a pretty decent tax refund each year and with our budget looking so well we will be able to put it into some very needed repairs on our house and into an older pickup truck that Dh will use for the rare times we need a second vehicle and he will have a vehicle to haul stuff in. We will be paying cash for it of course but it feels good to be able to do that and not have so much debt to worry about!

  9. #8
    Registered User Sophiasmama's Avatar
    Join Date
    Mar 2011
    Location
    Alberta,Canada
    Age
    40
    Posts
    2,319
    Post Thanks / WTG / Hug
    Rep Power
    19

    Default

    You made a great decision, and I agree with you...the fun side of Us wants to 'spend' the extra money.

Similar Threads

  1. This Feels Good
    By mnmarty03 in forum General Chat
    Replies: 6
    Last Post: 04-08-2010, 09:22 AM
  2. Feels so Good Paid..........
    By frugalnana in forum Debt Reduction & Money Management
    Replies: 18
    Last Post: 09-06-2007, 01:18 AM
  3. This feels so good!
    By QuilterMom in forum Home Environment
    Replies: 5
    Last Post: 01-04-2005, 11:03 PM
  4. Six Steps To Raising Financially Responsible Teens
    By Sara Noel in forum Money Articles
    Replies: 2
    Last Post: 11-13-2004, 02:15 PM
  5. It feels so good to be back!
    By Michele Annette in forum General Chat
    Replies: 15
    Last Post: 05-24-2004, 10:29 AM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •