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Free Money!
By Saver | June 29, 2008
We’ve had quite a bit of “extra” money this month, by which I mean non-paycheck money. Most of it was things we were expecting, but they all happened to come through at the same time:
1) IRS rebate checks ($480.88 for me and $600 for Spender).
2) Proceeds from selling Spender’s half of a sailboat ($1038). This was actually a profit of $38 after 1 year of ownership/use.
3) Insurance check from our movers (899€ = $1417). The stand of Spender’s computer monitor was broken in the move, but the screen and the electronics still work fine. Spender thinks he can fix the leg fairly easily, but the insurance company gave us the entire replacement amount. Side note: whatever any Mac thing costs in the US, it costs the same number amount here, but in euros instead of dollars. Lame.
My IRS check went to my student loans. I’m not being super aggressive at paying them off, because they have an interest rate of 3.25%, but I still like to put windfalls toward them, because it makes me feel like I’m making progress.
Spender’s money is mostly going to student loans, although we are going to use some of the insurance money to buy a couple new games for our wii. He’ll also probably leave some in his US checking account so he’ll be able to pay his minimums the next few months without worrying, but that still leaves over $2,000 to pay off the loans. That’s huge! It’s almost 15% of his balance.
I can’t imagine we’ll have another month like this anytime soon, and it might be harder to focus on debt payments when there isn’t extra money flowing in, but it’s certainly nice to have a big success early to motivate us to continue.
Topics: Goals, Money Stories, Saver's Posts | Related Posts: Friday Night Links, June 27th, Time Two Tell, July Net Worth Update
July 1st, 2008 at 10:41 pm
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