Tax Time

What happens when you owe the Government money at tax time? Depending on how much it is, hopefully you have it in savings.

Unfortunately, my wife and I are in that situation. We owe a little less than $1,000 to Uncle Sam. Good news, kind of, is we will probably get a state refund to help subsidize the Federal payment. Bad news is we have to give Uncle Sam some money. Great news is, we have that money in savings and will be able to pay it on time. I hate to use some of my Emergency money to pay taxes, but it is a BLESSING we have it!

What this means for Mrs. Financial Health moment and I is we have to start saving for our Emergency fund again. It will not completely wipe us out, but we will probably go under our $1,000 goal. We have our finances in order for the most part. We will probably have to pull in the reigns a little bit on the spending train. It will just require us to pull the "tent stakes" in. We will be cutting back on our entertainment fund, restaurant fund, and probably some other envelopes just to be safe we can get back to the $1,000 quickly.

So, if you have a tax story you want to share, please leave a comment. If you are going to get a refund and it will give you your EM Fund or will pay off some debt also leave me a comment!

Feeling better than I deserve,

Your Financial Health Moment!

Too Long

Sorry all for making you wait so long for a new post. It has been too long since the last one. I hope I still have some followers out there. The hustle and bustle of this season did keep me fairly busy and it does not help that I have limited Internet access. (One of those sacrifices for becoming free of debt)

With the hustle and bustle of the holiday season, I would like to know how people did with how they spent their money. Did you use Credit Cards? Did you pay cash? Were you able to tell family, sorry, it is just not in the cards this year to exchange gifts? Let me know how it went. I have heard from some people already and some say they fell off the wagon and flipped it off on its way by. If you are one of those people, let me encourage you...you are not alone. The main thing to focus on now is to get back up, dust yourself off and keep CHUGGING along. If you were able to stay on the wagon during this holiday season, let me say KUDOS! Way to go! I'm proud of you! I know my wife and I were able to stay on the wagon. Although, it was tempting to step outside our budget to grab a few misc. items for people who were not originally on our list. We were still under budget and did end up grabbing just a couple of cheaper items for different people. It was nice to know, this is how much we have and when it's gone, it's gone! With Credit cards, you never have that feeling. You can spend until your credit limit is maxed out! (Not so good come January when you get the bill!)

To conclude! If you fell off, get back on! The biggest thing you need to do is get back on board! If you were able to stay on, Keep CHUGGING along! Way to GO!

Feeling Better than I deserve,

Your Financial Health Moment!