Monday, May 13, 2013

Overtime money

It's here! The overtime pay that G-man earned while in Boston!!

It was a horrific situation that was the catalyst to all of this, and I won't ever forget that.  We have already donated to the Boston One Fund, and G-man was part of some very personal situations that really hit him hard.  He did what he needed to do, and we are fortunate that he is in a position that allowed him to get paid for what he did. 

I wish none of it had happened.  But it did, and here we are.

In total, he submitted 50.75 hrs of overtime, which includes a couple hours from a training from the very end of the previous payperiod (since he was out of town, he couldn't add it in, so it got submitted late).  This brings his total overtime for the year to 66.75.  Unless something else "big" happens, that is likely the end of the OT (due to the federal budget sequestration).  There may be an hour or two over the next 6 months, but nothing big.

The interesting thing about this paycheck is when you look at the Gross Pay vs Net.  Once you take out taxes and deductions, we normally see about 51% of the gross pay as net.  But this one, we got 58.5%.  That gives me a clue that they didn't take out enough taxes (and trust me.....they take plenty!!!!) 

It is really is pathetic that 1/3 of just the overtime pay went to taxes.  And it isn't enough.  *sigh*

But enough complaining.....

As I mentioned, we planned on taking G-man's 3rd paycheck in April, plus his overtime pay, plus all sorts of little piles of money (including the money we had set aside from his cancelled guy weekend), and put it all together and see where we were at.  Admire the pile for a minute.  And then decide.

So, all the piles together.......come to just shy of $3000!!!  I have transferred the money from our main checking account to the "holding" account, so I don't have that nice number to look at yet.  Give it a few days.  Then I can just bask in the glory that is a big pile of money!

Now, you hard core, gazelle intense folks are going to say!  Yay Mysti!  Finish off your Baby Step 1 (which technically is done if you go off of Dave Ramsey's $1000 EF, and we are just shy of $2,000, not including my "just makes me feel safer" money).  The remainder should knock out the medical/dental bill, and then put a dent in CC4.  Right?  Oh you hard core are so funny!!!!

No division decisions have been formally made other than:
  • G-man will have some for him, since he worked so hard for it
  • Some will go to fixing up Sassy's room
  • Some will go to "fun" (probably the living room furniture)
  • Some will go to debt.
The money from G-man's trip that didn't happen will also get put aside for the future trip (because it would have been spent if he had gone).

We have Discover Cash Back monies, My Points, and Swagbucks, so those will go towards Sassy's room.  Her carpet is trashed, and we are in the process of figuring out what that will run to replace.  Until we know some more concrete info, we can't really make an informed decision.  Worst case scenario is we rip out the carpet and leave her the hardwood (which is in OK shape, but not great). 

But she needs a desk and dresser (hers has gotten too small for her clothes).  And no....I don't want to go on Craigslist.  That is where her current stuff came from.  We are looking at a Target desk and IKEA dresser.  Nothing fancy, but it is new and all hers.  And we will paint and just freshen things.

The fun....we found a sofa, loveseat, and chair set on clearance for $1000.  We have been debating this for a while.  Ultimately we decided that this house just won't accommodate what we really want, and since a new house isn't in the cards....we have to go with what will work.  We like the set enough that I don't think we will feel like we are settling.

And then the debt.  The dentist will get part....and there are some bills that aren't part of the big debt and part will go in that direction. 

Or at least that is the current plan.  I am feeling like we are spending more of it than we should.  But I also feel like we will get more of a boost from doing it this way than we would if went gazelle.  Like I have said....we aren't gazelle.

And like I said....we are going to let the money sit for a bit just to make sure that we do what we want to do and that we have thought it out.  There was one thought of going on vacation....but I just know I wouldn't enjoy it at this stage of the debt process.  We also thought about not doing anything with it, and just letting it sit.  But that didn't seem right either.

I will let you know as updates happen!


  1. Good luck figuring it all out, Mysti! :)

  2. Wooohoooooo good for you! Good for you for thinking about what you want to do with - can't wait to hear the final plan!

  3. Good luck! Looking forward to hear about the final decisions :)

  4. Get the furniture. You've been waiting for a long time and you deserve it. Going without all the time really sucks and that doesn't mean you are wildly spending. Do it for yourselves as your something nice but that you also need.

  5. I too think you should go for the furniture. It feels like forever since you were really debating at it, and it is something that you may use (or at least see) every day, and if you're happy with it, it may make you feel a lot better about the house. When my bonus from work came, I can't say I was fully responsible. None of it went to debt! But into smaller goals for the year and savings. I was a-ok with that. Debt is already consuming all of my regular wages, so it just feels like deprivation to put any extra into it as well, when I have saving goals to meet.

  6. I tend to think you should not do anything to Sassy's room; instead, you should work on your family finances. No one really has to have their room redecorated, and it serves kids better if the family's financial picture is stronger. Mainly, I would think that dental, medical, or credit card debt should be attacked.

    1. It isn't just redecorating. Her carpet has holes and we have discovered what may be mold. Her dresser doesn't fit her clothes (and she has a very small closet), so things are spilling out on the floor. She has no place to study in quiet (when she uses the kitchen table, her brother constantly interferes).

      Additionally, if kids have a space that they are proud of, they tend to take care of it better, and have a better self esteem. Those are important to us. And we also want her to know SHE is important to us. She isn't asking for this. But she also is used to things being used and beat up.

      Our financial picture may not look great. But she has a roof over her head, food in her belly, and clothes on her back.