A Nice Surprise in our Bank Account

We had a nice surprise of sorts in our online savings account. Upon logging in we discovered that our Federal tax refund was deposited! This was a nice boost to the account since, as I mentioned from our accountant trip, we were getting a pretty large return. The refund hit the same day I transferred most of my work bonus from our checking account (my bonus usually comes between February and March). So that’s two boosts to our savings!

Now for the trifecta: I also mentioned in my accountant post that I was going to change my tax withholding at work so I would get more money in each check rather than a lump sum (and give an interest-free loan to the government). Well I took care care of that and the first paycheck with the change came in on Friday. After the change I’m getting about $125 more per paycheck! It’s so much better having this money in my account than in the government’s.

With this new increase to my paycheck I immediately logged into my 401(k) plan and increased my percentage that I’m investing. By changing my investment immediately I won’t get used to having the extra money in our account. This also follows through on our goal of putting more money in my 401(k) account.

What we won’t be doing – Going out and spending it all!