Tuesday, March 17, 2009

What I did with my bonus this year

On Friday I received an annual performance-based bonus in the amount of $6,000. Well, let me rephrase that: On Friday I received roughly $3,500 of my annual performance-based bonus, with a little over $2,000 going to taxes (*tears*), and the rest going to my 401k (gotta love those automatic pre-tax deductions).

I was originally planning to put the entire bonus towards my Roth 2010 fund, which would have nearly maxed it out, leaving me with less than $200 to deposit for the rest of the year. When I thought it through, though, it thought it would be nice to also put some money into my other savings accounts, combining this with my usual mid-month savings deposits. Here's how I broke it down:

$3,000 into Roth 2010 fund. This leaves me with a little over $600 left to deposit this year in order to max out this fund.
$300 into Downpayment fund. I'm still about two years away from maxing out this fund, but once the Fun Fund and Roth 2010 fund have been maxed out, I can throw more money in here each month
$300 into Emergency fund. My emergency fund will be maxed out before the year is over; I'm going to make it my goal to do this before I move out of this rent-free apartment
$100 into Fund Fund. I should get this maxed out next month - woo hoo!

I love saving, but I will do at least one fun thing with some of this bonus money. C recently started a new job at his company, and I'd like to take him out to a nice dinner to celebrate. I also need to add some new clothes to my wardrobe - I can't even close my dresser drawer anymore, it's so full of old clothes that I don't even wear anymore. I haven't really made any major clothing purchases since last February in Fort Myers, so I'm due. I need some nice casual skirts that aren't from college (no joke) and another solid pair of jeans that look and fit great. I'm planning to keep my eyes open for sales to see if I can pick some of these items up at a greatly reduced price.

In other news, I also got a 5% raise last week. This breaks down to roughly $40 per paycheck, after taxes. I haven't figured out what I'll do with the extra ~$100 per month. I thought I'd put it into savings, but now I'm thinking of paying an extra $50 towards my highest interest loan each month, and putting the other $50 into one of my savings funds. I also have close to $500 coming my way in the form of a tax return, which I'm thinking of throwing entirely at my Roth 2010 fund. Decisions decisions...

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