WWYD Wedensday: Tax Day Edition

Since today is tax day our WWYD is tax related.

I'll put a spin onto it, lets first discuss what we are doing with our refunds. Mine goes right back to the IRS to pay back taxes... I know, I know but at least I'm getting it paid off. What are you doing with yours?

Also here is a link for Tax Day freebies, let us know if you utilize any of them. Look at the link there are also links within with tax tips and tax information for all of us but mostly for you last minuet folks.

So now for the WWYD:

You've gotten your refund you have several places you can allocate it to:

• Your Emergency fund which is almost non-existent but you are plugging away on
• Spending on a much wanted and useful item you've been trying to save for
• Much needed car repairs
• Paying off a credit card
• A vacation you couldn't afford otherwise

So, WWYD? Tell us why. I tried to think of different possible scenarios that cover someone just starting out in the healthy financial journey because that is where I am at and I believe many people are hurting right now so that can help those people too. If you have other things to add please do add them.

Photo By: reallyboring

Utilizing Employee Benefits

I have pretty craptastic health and dental insurance fairly good dental and vision. Dental is good because of the orthodontics plan and we are majorly utilizing this. My daughter got braces in September of 2008 and they are mighty expensive if you don't have coverage. In fact, she has 3 dental plans on her until these braces come off. We are lucky in that sense that instead of parenting married we parent jointly, which means my daughter has a step-mom who also carries her on her insurance as well as her father and I.

While those benefits aren't the best I do have benefits at least. However, I also have a ton of other benefits I haven't ever really used. I've decided I'm going to start utilizing them especially the EAP (Employee Assistance Program).

Some of my available benefits in addition to insurance and salary are:

401k - They match. They also contribute even if you aren't contributing how cool is that? I'm not utilizing it to its full potential and I am not contributing at the moment. I think its safe to say that most people have a little anxiety after so many lost so much of their retirements my mom who is 55 lost almost $200k that's a lot of money for someone nearing retirement to loose in their plan. Heck its a lot of money for anyone to loose.

Auto/Home Insurance - This works like a group rate type of thing, you get a discount just for being an employee and other discounts for getting automatic deductions from your paycheck. At the moment I am not eligible for this because the insurance company said they didn't give a reason but you know what I'm going to find out (I think my credit score just sucks enough they don't want me).

Employee Discounts - Too many things to list, hotel discounts, car rentals, cell phone plan discounts, attraction discounts, vehicle discounts (supplier benefit), various home repair discounts (HVAC, plumbing supplies) as we provide these services as well, and really many other items. This will really help whenever I finally buy a home.

Foundation - This is a charity part of the organization I work for, if I do a fundraiser and apply and get approved for a charity of my choice my company will match it. I'll be utilizing this for my 3-Day Walk.

Savings Bonds - I know wha??? That's what I was thinking too but apparently I can purchase them and have a weekly amount taken from my check until they are paid off. Kind of neat, I'll have to check that out more

Scholarships - This is for the children of employees, I don't plan on being here that long but its nice to know if I am my kid can apply and maybe get a scholarship out of the deal

Stock Purchase Plan - I think this has been offered everywhere I've ever been. I've never really participated but one day I will.

Thanks program - This is an employee incentive/recognition program. I don't see it being utilized to its potential at my branch though.

The EAP though, I'm going to utilize that on Thursday to get help financially. They have financial advisers and I think I could benefit even from just a small bit of help here. So many things I can get from the EAP. I'll let you all know how it goes.

What are your benefits you aren't using to their full potential? I urge you to find out what they are and see if there is something offered to you that you aren't using.

Photo By: mathowie

Where I've been

Hi all,

I have had a crazy week. I'll be sure to post more this week. My WWYD Wednesday posting didn't go up this past week because I was in a minor accident on the way home from work that day. Actually my whole week was like that. I'm okay no worries.

So this week I promise to be better.

New Business Venture

I've been toying with doing some freelance on different things.

I did some research and I know what I'm good at and have had a couple of offers so I think it is time to do some work on it.

Any tips for someone just starting out doing freelance work?

About change

Trent at The Simple Dollar wrote a thought provoking post the other day about change, not the kind of change you save up or spend but about not getting better results without change. He brought up some key points, some of them seem like common sense but not always.

As people, I think we have gotten into a thought process that we can bring about what we want without changing. I think its fair to say that isn't true but we want the easy way out anyway.

Trent, brought home a point though I hadn't thought about. What are you doing TODAY to bring results towards your goals. Hmmm.... I thought about that and I have to say that I don't really do something daily to work towards my goals. Not in the way where I actually think about it and maybe I need to change that about myself. Even if it is small I think I'm going to start making a list daily of what I am doing to better my situation and work towards my goals. Even if the list only contains one item like study for that anthropology test. See going to school is part of a financial goal because it will get me a better paying career rather then just the job I have now.

I'm very much a creature of habit, I desire a schedule even if I resist it some. I don't like change all that much so I think it is especially important for me to note the changes I make daily or the items I do towards my goal so that I get comfortable with the ideas of these changes I must make.

In ending I'm going to be the change that I want to be, are you?

Utilities

Utilities are by far the bill I hate paying the most. For some reason I really hate paying for the most basic of necessities as far as living expenses go.

I hate paying the gas and electric bill, the phone bill, and my rent. I wish I could find something I could do to reduce them normally and normally I come up with just about nothing.

There are some plans to reduce though.

Electricity:

I am currently buying the new CFL light bulbs, I have noticed a difference in the few I already have

New savings program - every time something not in use is left on the offender must put 25 cents in the utility jar (all quarters will be used for laundry though) When there is enough I'll put it in the bank to pay the electric bill

Budget Plan, making my electric bill the same each month

Gas (by far the worst offender):

Buying items to winterize next year -

• programmable thermostat
• plastic for door wall and windows
• heavy drapes
• outlet covers

I will not have another year of this super high Gas bills.

Actually both utilities are on the same bill.

I don't have a water bill per say... it is part of my rent. However, the landlord has a water bill and he has been letting us all know how high it is and encouraging us to help keep it down. I know helping to keep it down will also help to keep my rent down.

Renting brings me to another point, since he doesn't have to pay the gas bill he doesn't care that the furnaces are old or the windows are really bad. Nor, does he have any responsibility in fixing what isn't broken even if they cost me tons of money. Which is frustrating because I also know how incredibly cheap he is and approaching him on this isn't going to help at all.

Photo By: Josh Harkinson

WWYD Wedensday: Leaving a job

In these economic times leaving a job could be a grave mistake. Sometimes though it could make a whole lot of sense.

This is our last Fiscal Year where our contract is valid, and the first time ever the customer is bidding it out. There have been problems with the head honcho here and the customer satisfaction. It really does look like we may be out of here and we aren't hearing a thing about it.

I decided not to actively look but to wait it out and save money just in case (this is what is funding my emergency fund). I also decided after doing the simulator on paying some old stuff off to up my credit score not to do that for now and just work on my emergency fund.

The reasons for this are simple, the job market especially in Michigan is pretty scary and it isn't likely I'll find a decent job. I make better money here than I would someplace (really anyplace else at the moment) I can ride it out here and hope the economy is better in a year to find a job or my emergency fund can float me while getting unemployment to finish school like I wanted when I got laid off a while back.

Don't get me wrong I have my feelers out, I'm working on something to earn extra income, and I'm updating my resume. I'm being proactive but not jumping the gun quite yet. Who knows we could win the bid if I left I could have left a decent paying job (for what I do) for a crap paying job because I was in a panic about something that hasn't happened yet.

WWYD?

Photo by: Amarendra Bhushan