Finances On Cruise Control

7 Oct

Many of my posts have been more short stories than updates on my finances lately.  Allow me to apologize.  Though, I have a really good reason!

I’m not in debt.  I paid off my last debt (my car) in December 2008.

I spend significantly less than I make every month.

My 401K is rising consistently.  I’m right on track to max out this year.  Is it hard? Yeah!  That’s a huge chunk of change every MONTH that I’m not getting (albeit my taxes are much lower).  Do I want to go blow all that on clothes and dining out every month?  Yes!   But I don’t.  Gotta keep your eyes on the prize…

Another nifty thing I do is caculate my federal & state taxes down to within a couple dollars for the year so my tax returns (or payments) are very small.  I try to keep the amount I will owe or pay to less than $30.  Yes, I’m one of those people that does not believe you shouldn’t give free loans to the government (which is what you’re doing when your tax returns are outrageous).

There you  have it!  I’m not struggling too much with anything.  I’m just at a very peaceful, calm state with my finances.

It feels great. 🙂

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17 Responses to “Finances On Cruise Control”

  1. SS4BC October 7, 2009 at 7:24 pm #

    I’m so jealous. I can’t wait for that to be me. =)

    I’m pretty sure it will be within a few months of paying off the debt, but I just can’t wait. I’m neatly counting the months.

    • SS4BC October 7, 2009 at 7:24 pm #

      BTW.. Happy anniversary!

    • Carrie October 8, 2009 at 9:38 am #

      Thank you!!

  2. Carrie October 7, 2009 at 7:38 pm #

    One year my federal taxes worked out to me owing exactly $1 which was just perfect. I’ll never be able to replicate that again.

  3. me in millions October 7, 2009 at 8:25 pm #

    That’s so great. It must feel so nice to have everything under control like that.

    And I’m really impressed with the tax thing. I have no idea how to figure that stuff out!

  4. eemusings October 7, 2009 at 8:31 pm #

    Same! I’m with SSBC!! I was trying to calculate how much I’ll make once I finish and start working. It’s still going to be tight with T out of work. But at least hopefully I can start saving again, and be able to manage irregulars like insurance (and flatmates who don’t pay their share on time…).

    One of my best friends seemed surprised that two people couldn’t live on $500 a week. Well, you can, but that’s living on the edge – you can’t cope with ANYTHING that crops up, you’re not saving, and if there’s any debt to be dealt with, it’s just not doable! But you know, she lives at home and probably will till she gets married and what not, so she doesn’t know what it’s like to buy groceries and pay bills. I’ll forgive her 😛

    • Carrie October 8, 2009 at 9:38 am #

      Agreed – when I lived at home, I really had no idea. She gets a pass on that one. 😉

  5. Tracy October 7, 2009 at 9:41 pm #

    Sigh…I can’t wait to be debt free. We have been working on paying off our debt since August 2008 and have paid off $16,000, but we still have around $62,000 to go. It seems like it will take FOREVER to get that much paid off.

  6. HighClassLowIncome October 7, 2009 at 10:29 pm #

    You seem like your doing awesome, I’m jealous! Keep up the good work!!

  7. MPP October 8, 2009 at 8:45 am #

    My newest goal in life is to be like you when I turn 26… and I’m not even joking. 😉 Congrats!!

    • Carrie October 8, 2009 at 9:33 am #

      Awwww!!! That’s the sweetest thing anyone’s ever said to me!! Now I feel kinda old and wise!! HA HA.

  8. Diane October 8, 2009 at 9:45 am #

    just curious- how do you calculate your taxes in order to minimize the tax return you get? I’m one of those that gets a large return every year and other than with automatic withdrawal for RRSPs (I’m in canada), I dont have anything else that’ll reduce my taxes…

    • Carrie October 11, 2009 at 3:46 pm #

      Diane – I’m going to explain in an upcoming post! Thanks for your question. 🙂

  9. maryb527 October 9, 2009 at 11:28 am #

    I read this and immediately felt bad about not contributing more to my 401(k)… because I know I can.. Boo.

    Really though, I’m saving for a house, so I guess I’m putting that on top of my priorities for now.

    Congrats on having everything in order! You’re living proof that a 20 something truly can have her life (and finances in order!) So excited for you!

  10. munchkin October 11, 2009 at 7:26 am #

    wow it sounds like you have everything figured out!! You are doing really well. Congrats

  11. Blair October 11, 2009 at 9:21 pm #

    Good for you!

    I have a question – Do you and Lloyd have a joint budget, or do you keep them separate? How do you split bills… is it even, or is it based on salary?

Trackbacks/Pingbacks

  1. My Finances Weren’t Always Perfect: Part 1 « Carrie…On The Cheap - October 12, 2009

    […] 12, 2009 by Carrie After my last post painted my financial life as practically perfect, I felt the need to elaborate just a bit on my […]

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