Comments on: Tempted by the end-of-year bonus

By: wcw

wcw — Tue, 30 Dec 2008 16:11:03 +0000

Start your ira… the years between 24 and 64 go fast and there will always be a reason to put off socking money away in one because we always feel will do it tomorrow. At 24 you have time to make more money but at 64 the time to make and the chances to make more money are almost over.

By: Tracy

Tracy — Sat, 27 Dec 2008 21:17:25 +0000

You don’t have to have 3K to start a Roth IRA….I started one 3 years ago with nothing, but I have a amt. drafted from my checking to this acct monthly….it is not a large amt, but it is adding up….and when the economy turns around I expect it to do well….

Treat yourself, but also start the retirement funds…especially if you company matches…..just add what they match on, most companies match on small amt, 1-3%….that way you don’t miss out on the free money.

By: H

Sat, 27 Dec 2008 06:17:14 +0000

Put it in a Roth IRA. You can always take it out again if you need the money for an emergency. I think the major funds have minimums lower than $3000, I know Vanguard has several funds with minimums of $1000.

By: MargeM

MargeM — Tue, 23 Dec 2008 04:45:12 +0000

I would put it toward debt. Then you are magnifying the money in terms of how much you’ll be saving on interest payments. And when the time for the move comes, hopefully your husband can negotiate for his employer to cover some or all of the moving costs.

By: SonyaAnn

SonyaAnn — Tue, 23 Dec 2008 04:14:15 +0000

How about put a little into each fund? Not fun but at least you are still working towards a goal. SonyaAnn’s last blog post..My $4.30 meal

By: tiffanie

tiffanie — Tue, 23 Dec 2008 01:22:30 +0000

i agree with the others. i would beef up savings after taking a bit to (lightly) splurge on yourselves...maybe a nice dinner out or a little something you've wanted to buy but haven't? i think it would make the biggest impact in savings. tiffanie’s last blog post..free iPods and more!

By: anne

anne — Mon, 22 Dec 2008 17:15:28 +0000

I agree with the the two comments… i would take out $10 or $20 and buy a small treat, then put the rest away. I usually receive Christmas bonus at work and also feel tempted to buy something extravagant!

By: Angie

Angie — Mon, 22 Dec 2008 14:39:34 +0000

Any time that my husband and I get some “unbudgeted money” (tax return, going away gift, bonus) we take a little out for us ($20 – $50 per person) and put the rest away for a rainy day. Year after year of being disciplined at paying off debt is great, but never having a little bit of money to spend on a ‘want’ instead of a need is depressing. We don’t just blow that money either. I might buy something from pampered chef that I really want for the kitchen, and my husband might buy a tool for the shop. Because we’re so frugal we never blow money, but we always methodically spend our “fun” money on something that we’ll use but we don’t budget for. Through 5 years of cranking out $65k+ of debt, we found it really works to treat yourself every once in a while.

By: claire

claire — Mon, 22 Dec 2008 14:20:16 +0000

hi, I just found your blog. As another wife of a humanities phd, i enjoy reading it! I would stick the bonus in your EM fund. But, I would take a small, small slice of the bonus, and do something that you find fun, but normally would not do. ie, not a prada bag, but perhaps a coffee out.