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Archive for March, 2007

Am I the only person...

March 13th, 2007 at 12:00 pm

...who owes taxes this year?

Obviously, the majority of people I know are still graduate/professional students of some sort, who will be getting hefty refunds. My working friends all seem to have student loans and/or mortgages to write off. Aside from the tuition credit or deduction, I can deduct moving expenses (for work) and possibly that phone tax thing, but that's it. So why do I owe taxes? The main reason is because prior to my current job, I did a stint at a pharmaceutical marketing company, who hired me as a freelancer. Meaning I got paid straight, no deductions. Hence, I pay the price come Tax Time.

The second reason, which is more minor, is that my parents sold some funds that they held under my name, so there's taxes owed on those gains. But at least my parents have promised to pay me back for that.

New month, new budget

March 1st, 2007 at 06:02 am

After discovering my electricity bill was 4-times what I'd been expecting, I finally picked myself up off the floor and resigned myself to paying the bill in full (of course). There is definitely enough in my checking account to cover the electricity bill, but I did find I had to juggle around my usual money-allocating plans. As nerdy as it sounds, it was actually sort of interesting. Each month, I typically put $500 into my roth IRA, and then $500 into various investment accounts. I'd already done that, so the electricity bill will get paid off by my "bonus" money- rebates and bank bonuses- which I'd been hoping to put towards something more fun....but the bills have to be paid first. Thus, the kitchenware I'd been planning to replace will have to wait.

Wow. Money maturity moment! I am able to plan for my expenses and shift spending to make I avoid debt and pay off bills in full. What an "adult" thought! =)