The balance between paying down debt and savings

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12-21-24, 1:56pm
Tradd

Quote:

Originally Posted by SiouzQ.

Is it some random percentage of your usual paycheck? Long ago at my bead store job for my first Xmas there I got a bonus of $600 (which was amazing back then for a single parent working a low-wage retail position). It turns out the owner gave back in the bonus $1 for every hour I had worked that year. (I had started that job in August of that year). 600 hours x $1 was my bonus. Doesn't seem like anything now but I remember the feeling of getting an extra $600 tax-free at the end of the year!

Bonus was $1700 pre-tax when I looked at stub online. Turns out medical and 401K was taken out of it in error. So I’ve got about $200ish I’ll see in 12/31 paycheck.

So that $1700 is a bit less than half of regular paycheck.

I took $200ish of bonus to buy a new desk chair for home. The one I have is a cheapo I bought in 2020 when I had the remote job. It currently sells for $35 so very cheap. I want something more comfortable.
12-23-24, 4:46pm
Tradd

Woo hoo! Just paid off the last $1600 on cc.
12-23-24, 4:54pm
iris lilies

Oh that is big big big!

so what are you going to do to keep from using the credit card again? Do you have strategies in place, or in your mind?
12-23-24, 5:15pm
Tradd

Quote:

Originally Posted by iris lilies

Oh that is big big big!

so what are you going to do to keep from using the credit card again? Do you have strategies in place, or in your mind?

Just will use for a few recurring small things.

Some savings building next and then car loan.
12-23-24, 5:15pm
Tybee

Quote:

Originally Posted by Tradd

Woo hoo! Just paid off the last $1600 on cc.

Hooray for you!!!
12-23-24, 7:12pm
happystuff

Congrats, Tradd! That's a huge accomplishment!
12-23-24, 9:31pm
catherine

Congratulations!! That is wonderful! As Dave Ramsey says, quoting Mel Gibson: FREEDOOOMM!
12-23-24, 10:02pm
Tradd

Quote:

Originally Posted by catherine

Congratulations!! That is wonderful! As Dave Ramsey says, quoting Mel Gibson: FREEDOOOMM!

Well, still have car loan, but yes, freedom not having the cc debt.
12-24-24, 7:39am
rosarugosa

That's a great milestone, Tradd!
12-31-24, 9:55am
Tradd

Today is payday and there’s now a bit more than one month’s expenses in savings. Yay.

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