Comments on: January 08 report

By: kristina682

kristina682 — Wed, 06 Feb 2008 00:19:02 +0000

Wow. I am completely excited for you and your $1000. That is alot of money and a healthy way to start your 2008 savings.. Keep it going! And keep the updates coming, love hearing about all that is going on in your money world.

By: Lauren

Lauren — Mon, 04 Feb 2008 23:18:47 +0000

It might be lower than your goal, but I think that $1000 is awesome

By: Margo

Margo — Sat, 02 Feb 2008 19:08:42 +0000

I figured your parents filed them while you were in college. I didn’t do my own until after graduation. Man, what an eye opener! Wanda, have you done all your own taxes before?

We certainly don’t encourage Americans to save, if taxes take a full 1/3 of bank interest. For the people who most need motivation to save, and who don’t have enough (yet) to invest, that would be so disheartening. Especially if they’re using a regular bank paying 0.5% anyways.

By: Well-Heeled

Well-Heeled — Sat, 02 Feb 2008 00:41:50 +0000

Margo – this is actually my… 4th year of paying taxes? Last year I got a pretty hefty refund. I’m not sure about the size of the refund this year, but I certainly don’t expect to owe any money.

Unless I made more money than I realized.

By: Margo

Margo — Fri, 01 Feb 2008 23:59:55 +0000

Wait til you do your taxes.

I made about $400 in bank account interest, and about $2800 in part-time income. I watched as TurboTax re-calculated the amounts after each entry. I didn’t realize I lose a full 1/3 of interest income to taxes.

Now I owe the Feds $850, and my state $225.

Since it’s your first year of filing taxes, Wanda, I would hold off any heavy spending until you see if your employer withheld enough.

Also, FYI, anyone who is a State Farm Insurance customer gets free TurboTax online for w/ free federal e-file.

By: SavingDiva

SavingDiva — Fri, 01 Feb 2008 19:39:16 +0000

I have to admit that I thought the same thing that SJean commented….

I think you should get your massage if you’ve saved up for it. I would love a massage!

By: Anon

Anon — Fri, 01 Feb 2008 15:32:22 +0000

Depending on your health insurance, some cover or partially subsidize chiropractor visits–which may include massage-type therapy.

By: SJean

SJean — Fri, 01 Feb 2008 06:19:41 +0000

Math nerd alert… but the 4/100 should really be simplified to 1/25 so it can be more easily compared to 1/12. Or both could be converted to percents to make it super apparent. Okay, you can ignore that comment, but I couldn’t hold it back.

I’m a bad influence, but you can afford the massage… so if you can give it up without feeling too deprived, do it. If it hurts to type that sentence…. then maybe look for somewhere else to cut?