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December Savings

December 29th, 2019 at 04:00 pm

Received $60 bank interest for the month of December.

Snowflakes to Investments:
--Redeemed $0 credit card rewards (cash back) from our grocery card (maxed out 2019 grocery rewards).
--Redeemed $83 cash back on Citi card.
--Redeemed $33 cash back on dining/gas card; used for grocery rewards this month

Other snowflakes to Investments:
+ $231 Re-Invest Dividends
+ $ 8 Savings from Target Red Card (grocery purchases)

TOTAL: $355 snowflakes to investments

401k Contributions/Match:

Snowball to Savings:
+$1,100 MH Income
+$ 500 Bonus
-$ 250 Charity

Savings (From my paycheck):
+$ 550 to cash (mid-term savings)

Short-Term Savings (for non-monthly expenses within the year):
+$1,400 to cash
-$ 482 Flood Insurance
-$ 195 AAA
-$ 160 Vacation Expense
-$ 125 Yearbooks (2)
-$ 100 School Concert

TOTAL: $4,053 Deposited to Cash and Investments


Vacation expense was $100 fuel and $60 eating out, MH's LA trip. We planned to spend a wee bit more on that trip, but I ended up sick at home instead. We canceled the one hotel night we were going to pay for, he used his parents' timeshare for two nights.

$100 school concert ~ $60 to buy tickets for us and all the grandparents. We also ended up spending $40 to feed everyone the night of the concert. This is the art school we pay -0- to, so I am always happy to contribute monies. I save a bajillion dollars with all the free/public art classes.

I guess MM(16) was sick that night (before he gave me his awful flu). Always someone can't make it last minute and I give away the $9 tickets. It always makes someone so happy. So when we got there I went up to the box office and told the lady buying tickets I had an extra student ticket if she wanted it. She didn't even look at me or say Thank You. I told MH, "Wow, that was really unsatisfying." Usually the response is more like, "Really????!!! Thank You!!" She looked so stressed out buying those tickets, I'd like to think I made her life a little easier.


So... I am completely dumbfounded by this update. This was our level of savings when I was working second job. But I guess that it comes down to getting my raise and getting that $800/month back. I wouldn't have thought it was going to be a particularly lucrative month, was more just our typical savings kind of month.

But... This probably sums up pretty well how I ended up with an extra $3,000 that I felt comfortable throwing at the mortgage. I decided quite unexpectedly and last minute to knock that goal out. Sidebar is updated. (Had $3k+ cash left over after setting aside $12k for IRAs; we also have a 12-month emergency fund).

401k was a little extra this month because I received a 3rd paycheck 12/31 (my small business employers always advance the last paycheck of the year for tax purposes). I did also receive a bonus, which bumped up my 401k contribution.

The bonus is a new thing I have never had before. I didn't blog about it because it was not too exciting. I mean, it's EXCITING. But... I didn't pay any taxes in whatsoever for my self-employment income this year, so I put most of my bonus to taxes. It was a choice that I made. (This had been my plan all along, but I had expected a summer bonus to cover it). It's nothing like it sounds. My tax rate only ended up being about 10% on all that side income. Because I ended up with $8k orthodontist expenses to offset my income. I know there is definitely a huge element of financial savvy and strategy that comes with my tax knowledge. Like knowing I can just withhold my SE taxes from my paycheck, and it's all the same in the end. (Which I felt was prudent because I had no idea where on earth my taxes would land this year, until I got confirmation of bonus this month). But... Honestly 90% of the time it is just being in the right place at the right time. I had $10k of write-offs I wouldn't have had in prior years, between the ortho and tax law changes. So I made out pretty well.

I still had $500 left over (from bonus) after that, which I threw at savings.

Edited to add: We did our "gift from in-laws to Charity" thing over the weekend. I ended up making all of our donations Sunday night, and realized I was about $250 short of what I Wanted to do. Which makes sense, because we used to allocate my old Christmas bonus ($250) every year to charity. {I guess I consider that more of a "Christmas Gift" than a "Bonus". My bonus this year was a few thousand dollars, which is the very new and different part. I have absolutely never before had an employer give me extra money "just because". To clarify why I said I hadn't received a bonus before}. I ended up subtracting $250 from bonus above and updating numbers.

3 Responses to “December Savings”

  1. rob62521 Says:

    Wow. That's about all I can say. Between your $60 interest, and all those snowflakes, and then the bonus. Yowza!

    Glad you are nice and gift the ticket even if the person wasn't very grateful. Perhaps it was such a shock that someone would do something that kind and she didn't know what to say.

  2. Lucky Robin Says:

    You did really well for yourselves this year.

  3. terri77 Says:

    I love the charitable donations idea!

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