Okay, monthly numbers are all figured out. Well, sorta.
Technically, my check won’t clear until tomorrow. Until that happens, I can’t pay the bills or start the mass financial migration to our various Capital One 360 subaccounts.
And of course, sometimes even day-to-day spending ends up being much higher than expected. So these estimates are assuming that, magically, we go through about $100 (instead of $20-30) in the next 24 hours. Because you just never know with us.
But God willin’ and the creek don’t rise… It’s a good month.
I projected we’d put about $500 into savings, but it should actually be around $800. I’m infinitely grateful that I decided not to pay the credit card all at once. As predicted, being able to put money into savings two months in a row is a huge mental health boon.
This will put us about $600 over what I what I consider my magic number. So I guess we’ll see if that makes me feel rich/safe after all. (Probably not.)
A lot of this month’s progress is because we’ve been able to halve the cost of Tim’s alternative therapy by trying a few different approaches. That alone saves about $400 a month.
So all of that is good news. Now for startling news: It looks like we’ll be getting more than $3,500 back on our taxes.
Of course, I’m going to check the numbers at least two more times before sending the forms in. But so far, so good.
Normally, I’d be upset that I overpaid that much. But this year I purposefully overpaid. (And not to get a car.) I was 95% certain Tim’s implants would get done, but I didn’t want to count on it. So I paid our normal rate and accepted that, this year, we’d be losing access to a lot of money.
I kind of get now why people get so excited about tax refunds. It really does feel like free money. But moving forward I’ll stick with having access to my money now thankyouverymuch.
Anyway, I’m thinking about diverting some of refund into our emergency fund.
Our emergency budget has increased significantly thanks to my marketplace insurance, new medications, etc. This means that we no longer have three months’ expenses in the account.
I don’t have to worry about job security, but there’s always the possibility of being hospitalized for weeks/months, broken hands/arms or, well, anything. Life loves to come at you with nasty surprises.
So, in case of one of those unlikely events, it’d be nice to have some some breathing room. Three months’ expenses plus our savings account feels like a good starting point. To get there, we’d need to put in $1,000. Well, assuming we get to keep Tim’s disability benefits.*
And we’ll keep adding $50 each month just to keep the ball rolling. Nothing wrong with watching an account grow!
At any rate, if the current projections are right, we’ll be able to bulk up the emergency and still be able to boost the savings account by about $2,500. That’d be fabulous. Especially if we do start changing out windows. At the very least, our back slider door needs to get replaced. But that’s a worry for another day. A day, hopefully, before the summer temperatures hit.
Have you guys done your taxes yet? If you’re getting a refund, what are you going to use it on?
*Still waiting for a hearing date. But I’m confident that his attorney will make a good case in the end.