Home > Money from MIL and Christmas Bonus

Money from MIL and Christmas Bonus

December 19th, 2019 at 08:45 am

MIL gave us a check for $6000 and the Christmas bonus was deposited for $911.26. The bonus was $1300 before taxes. I really wish they did not tax bonuses at 25%. I mean, maybe if your bonus is in the 5 digits, or even mid to high 4 digits, but when it isn't even the amount of a paycheck? The government is irritating at times. I know we'll get a better tax refund due to them taking so much, but I'd really rather have it now and not when we get that back. I complain about this every year.

So plans for the money are to have DH get his crown, around $1000, and my chipped tooth repaired, around $300. Then we'll put $2000 into the Medical Fund. It is at a little over $1800 so this will give us enough money to cover the deductible and the out of pocket max between this and the FSA. We'll put $2000 into the Emergency Fund, save some of the money for our romantic getaway in March for our 25th wedding anniversary, and order a few things I have been putting off.

Then since we won't have to be paying anything into the Medical Fund for next year after this coming payday, we will take the money that we were paying into that to pay on debt. DH and I have an agreement that we won't use money from his mom to pay the debt to my mom. That's not what it is for and it is not why she gave it to us. She wants us to use it for medical, for vacation, and to beef our EF back up.

I'm not sure where we are going yet for our trip, maybe the same place as in September, but it won't be far from home. I think we will just buy some really good food to take with us and a good skillet (can't trust what is in the rentals to not be warped). I am thinking some ribeye steaks, some crab or shrimp or lobster, potatoes, and good vegetables for dinners, bacon, toast, and eggs for breakfasts, and sandwich fixings or burgers for lunches. We both like my cooking better than restaurants and DH helps with the chopping and peeling for dinner and makes breakfast so it doesn't all fall on me.

I am very relieved to get this money, though. It takes a lot of the stress for next year away in one fell swoop.

Retirement has popped up a lot over the last couple of days, but after the vote last night, I am waiting to see what the stock market does when I get up in the morning before I update it. I just hope it doesn't put us back under $25K, though it was almost to $26K today before the vote.

4 Responses to “Money from MIL and Christmas Bonus”

  1. creditcardfree Says:

    The headline I saw probably from yesterday was NASDAQ hits record high after impeachment. Again current economic policies are favorable to the markets and have not changed, and the market has already priced most of this in. The markets definitely didn't like the uncertainty of negotiating trade with China, but that is looking good too for awhile.

    What a blessing from your mother in law! I'm so happy it is providing you some relief from stress!

  2. Joanne Says:

    So nice of your Mother in law.. And, good news on the bonus. Hope that you have a very Merry Christmas..

  3. mumof2 Says:

    that is nice of your MIL...what a blessing...glad it helps you out and before you know it you will have your mom paid off...have a merry christmas

  4. rob62521 Says:

    What a nice gift from MIL and I'm sure you are feeling very blessed. What a big tax chunk out of that bonus. Ouch!

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