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A Lovely Day and Future Thoughts

December 24th, 2012 at 07:29 pm

As is our custom, my immediate family (me, DH, DD, DS and my Mom) opened our Christmas presents today around noon. It was nice and laid back, everyone got what they wanted and there were no surprises. I had a nice roast in the crockpot going for dinner and accompanied it with French fries and tater tots for the kids and some green beans. Simple, easy, and a peaceful dinner was had by all. Tomorrow we will be going out to spend the day with MIL, FIL, SIL, and 2 nieces. It will probably not be as peaceful, but the food will be more traditional.


I've been thinking about the short-term future, about 3 months down the line. By then we should have our BoA card paid off which will just leave the Chase card. That is our 0% interest card for 18 months. We have been paying $100 a month on it while throwing everything else at AMEX and BoA. It will have $5000 left on it come March.

Our tax refund will be quite substantial again this year. Part of this is due to the fact that we will be able to claim the maxed out HSA for medical once more. The other reason why we tend to get back so much has to do with how DH works. Even though he only works 15 12 hour days straight out of every 28, each pay period is taxed as if he was getting that same paycheck every week. There is some payroll law responsible for this and there is nothing we can do about it. We've tried. It's been this way for the last sixteen years.

Anyway, so the tax refund is going to be more than enough to pay off the $5000 on the Chase card. I am just wondering if it would be wiser to do that or to dump the money into the Emergency Fund and then continue to pay off the Chase card at a rate of $1000 a month, which we will have available since the other cards will be zeroed out.

I don't really like the idea of keeping that debt until August, yet at the same time it's at 0% until 2014 and the savings account is at .75% interest. Running with a low Emergency Fund has always bothered me. DH is on contract for another 3 years in an industry that is, despite the economic depression, booming, so job security is high. I know we will be able to build the EF pretty quickly once all the debt is gone.

Still, debt is debt and I hate it. We've been under it so long. I guess I have a couple more months before I have to make a decision.


I have finished up my course of antibiotics for the UTI and it feels like it is gone. I have been back to eating protein and vegetables at each meal with the one fruit at one meal for 3 days and I started the high cholesterol drug today. I've lost 7 pounds. I am also pushing the water. I am generally feeling better than I have since my tooth forced me to stop eating right last August, though I am still tired. The newly crowned tooth is still sensitive to cold, but it doesn't hurt to chew at all now.

Tomorrow may be a draining day for me and difficult to handle regarding food, but I am planning no fruit tomorrow and instead 1/2 cup of potatoes and gravy and 1/2 cup of stuffing with my turkey and green beans. The potatoes will be real, the gravy will be homemade, and the stuffing will be made by me, so I know exactly what is in everything. I don't care for pie so that will not be a temptation.

If there are cookies or fudge I will just need to keep firmly in mind how close I am to having diabetes and that this is not an option for me right now. Fortunately I am not a big sweets eater anyway, starch has always been my downfall. Although I do like my ice cream, but that's going to have to be a once a week treat with a balanced meal from here on out.


Happy Christmas to everyone!

6 Responses to “A Lovely Day and Future Thoughts”

  1. Wino Says:

    You can do something about the enormous tax return, which you know in your heart is money that should be invested and not an April "Christmas gift." You can fill out the W4, line 6, to have them withhold an additional amount. I would take my last few tax refunds and divide by 15; enter this amount on line 6. You should still get a small return, but no more than one tenth to one sixth of what you're getting now. As taxes are going to go up due to Washington's "solutions" in the past, one can't be certain how much is going to be needed to pay. In fact, you may want to divide by 18 in case taxes really hit harder than folks expect.

    It sounds like DH does land rig work. That is often a 14-14 schedule like you describe.

  2. LuckyRobin Says:

    I don't understand why withholding an additional amount would make the tax return smaller. I would think it would make it larger. And DH cannot withhold anymore than he does anyway. He already withholds the legal amount.

    DH is an electrical engineer and works on oil pumphouse construction and wiring stuff.

  3. M E 2 Says:

    I think Wino misunderstood what you said because you worded it incorrectly. Your tax return isn't what's going to be large, it's your REFUND that it is going to be large. You inadvertently implied you were going to owe alot of money for your taxes.

  4. LuckyRobin Says:

    Okay, that makes a lot more sense! LOL I changed it so it won't confuse anyone else. I don't know why I used the word return. But I definitely meant we will be getting a lot of money back, not paying it. I've never had a tax year where I've owed anything.

  5. FrugalTexan75 Says:

    What about putting half of your refund in your EF and half towards BofA?

  6. Wino Says:

    Then do line five, and claim additional exemptions. As long as your withholdings are greater than you last year's taxes paid, or as long as you don't have an exorbitant refund, you won't owe any penalty or interest. There is even a way to convert additional credits to exemptions, but I'd just play with the numbers until the total amount withheld is 100+% of what I paid the previous year.

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