Thursday, May 15, 2008

Stimulus Refund

We got our stimulus refund direct deposited tonight and within 20 minutes it was gone.  See that's what I call good planning.  :-)

We got $1800, which was the original $1200 plus $300 for each of our children.  

  • On Quicken and my checkbook register I transferred $800 to our new auto insurance fund to ensure we have the money available for our auto insurance payment in July.  I did not actually transfer this money with my credit union because I will need it readily available to either transfer online or write a check when the bill becomes due.  We never really saved for the payment before, but I've decided it will take a lot of stress away knowing it is available if I started saving for it little by little instead of waiting until a month with 3 pay periods.
  • I then transferred online with my credit union $767 to my credit card.  I had planned on paying $873.15 in total, but that included some left over college grant money after summer tuition that I haven't received yet (will be used to pay off the textbooks I bought on the credit card).  So when I receive that money I'll pay an additional $106.15 on the credit card.
  • Finally, I wrote out a $232.76 check for the July truck payment.  I made double payments at the end of April for the May and June payments.  At the end of this month I'll make a double payment for the August and September payments.  Anyway, the July payment check is ready to go out in the mail tomorrow.  I then rounded up the amount as I usually would when making a payment.  That puts an additional $0.24 going towards savings at the end of the month.
Tax Stimulus Refund balance: $0.00

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