the Delicate t Bone

While it’s nice to be getting a tax return, I’m not getting nearly as much as I thought i might be.  So now to pull way back on some ideas I had.  

Things i must do:

1) repay my savings account back 

2) pay my dad loan money back from the past 3 months of non-payment 

which leaves me with enough still to perhaps buy one or two fancy clothing items (like maybe some new boots or a bag) or a new tattoo, but sadly not enough to buy a new computer (which i really sort of desperately need) or to go on a euro-trip.

I think it’s time to prioritize some spending and saving and all that.  My least favorite thing.

Which is better/worse?

Not paying my rent until the 12th or dipping into my no-touch savings account

The sad reality is that my management company of the apartment building probably won’t cash my rent check until after the 12th, but I don’t necessarily want to play games like that?

I am still playing money games in my 30s.  and so it is.

I just want to be better at life, especially better with finances.  I am a total money failure-face.  

Although, I did get this slightly disturbing message from my dad last night regarding my loan repayment to them.  Do I need to mention again that I’m almost 32 years old?

Thank you for being such a good girl on your repayment.  You credit score with Mom & Dad is on the rise.

bluebears:

So I heard on the radio this morning that half of all Americans (I’m guessing this is some sort of statistical estimate because, you know, I wasn’t asked) wouldn’t be able to come up with 2,000.00 in 30 days. 

I could but I’m fortunate enough to be able to have savings. But I was thinking about back when I was a student etc…or when I was working between undergrad and law school when I really didn’t save much. I think I’d be able to sell stuff off (clothes, tech stuff, jewelry) and get to 1,000.00 for sure. I had a credit card back then so I could take a cash advance. I don’t know I think I’d be able to scrape it.

What about you?

No.  Sort of.

My only credit card has a $300 limit.  I have less than $100 in savings. I no longer have a 401K.

I could probably do a payday loan, but those are crazy shady. 

But I’m working on it.  Saving a little here a little there.  It freaks me out that i am over 30 and this is my life.  I mean, I’m grateful to have a house and a great education (the majority of what would be my “savings” money goes to my huge student loan payment), but I am 1 small disaster away from total poverty.

However, I am also really good about working shit out.  I guess if it meant not paying the rent or begging friends or returning to turning a trick or two - I would.

ok yeah, it’s time to sell the car.  I’ve been toying with the idea for months, but felt a little guilty about getting rid of it when i tried so hard to get D to get his license and then he started using the car all the time.  Like that was fine, but now it’s just feeling like such a huge burden and I feel used.  When I only get to use the car 1 day a week - it is just stupid.  I’m paying $300/month to use the car 4 times.  Not smart financially.  And while part of it is also me feeling a slight attachment to have the access to run free at a moment’s notice, fuck it.  It’s not worth it.  I just keep feeling used and there are just entirely too many things that suck about owning it in the city (including no parking in my new neighborhood, parking fees/tickets, city sticker, etc).

I’m done.  I’m taking it to car max next weekend to sell it.  I’m waiting until then because my pal is “renting” it from me for the week.  Which is fine, but I’m just done with all of it.  I hope that all the times of being nice with my car will come back to me.  I really do.

egads, i’m trying to prep myself financially for the bullshit that is going to be the next two months - between paying rent at two places and moving, I’m going to have to learn to eat some serious low-cost groceries.  yipes.  might be time to trim down on any extras i have.  and remember to make lunches for myself.  it’s going to be lean until september.  i wish i could just get rid of my car.  i never drive it, but i might as well wait until after the move, because i feel like it might come in handy.

morninggloria:

fromthemountains:

Like company-provided health insurance, why are companies expected to provide retirement benefits like pensions?  It’s not their core competency; it’s inefficient.  It’s all part of a “compensation package” offered to potential employees that won’t cost the company money now, but that drags them down later when they realize, “oh crap, we promised we’d pay that, didn’t we?”

I will say, I am a fan of 401k’s and contribution matching.  Just not a fan of defined benefit retirement plans - because the economy is too unpredictable to make promises like that.

That’s not to say I am against helping those in our society who are in need.  Just that it’s ridiculous to tell voters that they should plan on relying on unsustainable programs.

/terribleliberalaccountantrant

Very very few places are providing people with defined benefit plans anymore.  My office dabbles in workplace benefits and I haven’t seen any pension plans started after 1990.

Contributing to a 401(k) plan is good even if your company doesn’t match, because you can set it up so that it’s automatically deducted from your paycheck, so you never miss the money.  If your company has a Roth 401(K) option, I’d encourage most people under 35 or so to contribute to that plan instead of the traditional 401(K), as money contributed to a Roth comes from after tax money and you never have to pay taxes on it again. 

So, if you earn $1000 and put $100 in regular 401(K), you get taxed based on the $900 you take home.  The $100 you put in your 401(K) grows and grows, and then when you take it out, you’re taxed on how much that money’s worth when you take it out.  So if the $100 turned into $1000, that $1000 is taxed based on whatever income tax levels are at the time of withdrawal.

If you earn $1000 and put $100 in a Roth 401(K), you pay taxes on the full amount of earnings.  Let’s say that taxes on your $1000 in earnings is $100, just because I hate it when math is hard.  From the remaining $900, you contribute $100 to your Roth 401(K).  The money grows and becomes $1000.  When you take it out, you don’t have to pay taxes on it, because you’ve already paid taxes on the money before it went in to the retirement plan.

Thus, if you can reasonably assume that you’ll be in a higher tax bracket when you retire than you are now, it makes more sense to utilize the Roth option.

I HAVE THE MOST BORING JOB IN THE WORLD.

I seriously fail at life because I am old (well compared to everyone on tumblr), I have no savings and when I was unemployed this year, I cashed out my (meager) 401K from my last job.  I’m currently not putting anything in a 401K.  I know I need to do this, but I’m not very good making it happen.  It just seems like such a pain in the ass.  It always is.