Thursday, February 23, 2006

To Save or Not To Save

This will be a good month for us financially (finally!) In yesterday's paycheck, I got a nice little bonus, and we're expecting a good sized tax refund (assuming we actually get the darned things submitted). Now we just have to resist the urge to spend it all.

There are quite a few good things to save for--time off for a possible second child within the next year or two, Charlotte's future college tuition, more of an emergency fund than we tend to keep on hand. There are some sensible things we could put the money towards that would be of good financial benefit--paying off our deck or cars, for example (luckily, we've never racked up credit card debt, so that's not an issue). And then there are the things that call to me...a new serger (to support my fabriholic tendencies), patio furniture (for that deck we're still paying off), office/craft room furniture (see "serger" above), landscaping, etc.

My husband would list things in a completely different order here. He would also probably list making an extra payment on the house before several of the other saving/debt reduction options., and possibly throw in something about another IRA. There have been a few years in the past when we've been in this kind of shape, and we always kind of let the moment fizzle and pass without either really enjoying hte money or really doing anything of great benefit, which really frustrates me. But we frequently can't agree on what to do, so we dont' really do much and then after a couple of months, we realize that there's nothing much to be done since the money sort of dissolved away as the time passed. Maybe this will be the year we figure things out and make it worth while.

In the mean time, I'm going to surf the options in sergers.

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