I am still waiting for one form from my former mortgage company so I can finish my tax returns. And things are looking good! Or bad, depending on how you view taxes.
I’m not sure how the state tax return is going to fall out, but it looks like I’m getting a significant chunk of change from the feds. I’m definitely pleased about this as it makes a great start to my Roth IRA contributions for the year. On the other hand, that’s money that could have been in my pocket throughout the year. Typically, I like to try to break even, but over the past couple of years, I haven’t been able to make that work.
So I have two options – I can change my withholdings again (I did it once when I bought my house) or I can just live with it and enjoy the extra cash every spring. I would definitely rather get money back than have to pay in, that’s for sure. And with interest rates as they are, I’m not really coming out that much ahead by getting the money and putting it into savings. So maybe it’s best to keep things as they are.
Megan is a 40-something government employee in the Washington, DC area. She got interested in Personal Finance when she got out of college and realized that her paycheck wasn’t going to go as far as she had hoped. Since starting this blog, she has managed to buy a house and make a solid start on her retirement goals, and hopes to help others do the same. Here is her story:
In 2007, I was a gainfully employed 20-something with no debt but not a lot of knowledge about personal finance. It was a co-worker’s comment about Roth IRAs that sent me to the internet, searching for information. It was then that I realized that I really didn’t know a whole lot about personal finance and that my current financial situation was due a lot to inherent frugal tendencies, generous family members, a fear of debt, and good luck. While that was working for me, clearly I needed a better plan.
While I had no debt, I was also pretty much living paycheck to paycheck and not worrying about going over budget (I say this as if I had a real budget) because I had an emergency fund set aside to cover any overages.
Except that’s not what an emergency fund is for.
So I did a lot of research, read a lot of blogs, and decided that I needed a plan. I needed to budget. I needed to know what I was spending my money on. I needed to prepare for the future.
I decided to create a blog not only to make myself accountable to others but also to share the knowledge that I gained along the way. I’ve learned so much from my fellow bloggers, and I hope that my readers can find something useful in what I have to share as well.