Comments on: What Do You Do With Your “Extra” Money?

By: Mike Carlson

Mike Carlson — Sat, 22 Mar 2014 23:46:19 +0000

Oh how I wish I’d have more money coming in than coming out. Unfortunately it is the other way around most of the time. But during those times that I have extra money, I always set it aside for savings of investment. We always have to prepare for the future rather than spend it unwisely.

By: J. Money

J. Money — Wed, 19 Mar 2014 20:23:32 +0000

Harps and blacksmiths??? You don’t hear about those every day, haha…

Awesome :)

Also, agree with this 100%: ” always turn it around and ask what they want to do with their lives because that’s what they should do with their money. “

By: Slinky

Slinky — Wed, 19 Mar 2014 17:35:50 +0000

I kind of hate when people ask this. I always turn it around and ask what they want to do with their lives because that’s what they should do with their money. It’s hard to balance a ton of different goals though, and there really isn’t any easy answer on how to do that. You just have to spend some time thinking it over and deciding what matters the most.

My latest “extra” money things –
A new harp – partially financed with the sale of my old one. Also, new strings and next month, probably a carbon fiber reinforced flight case. Fun stuff!
Investing in my husband – The blacksmith forge is still our big project, so we continue to stash money for that. We’ve got a couple more masons to get quotes from and have to wait for the weather to warm up and then it’s go time. We may end up doing some or all of this ourselves, but for now it’s full on super cash stash!
Retirement – Now that I have a mortgage and property taxes, I can adjust my tax withholding. I shoved that extra money right into my 401k!

Upcoming “extra” money stuff –
5 year anniversary vacation
Fix our plumbing and driveway
Stash money for a rental property

Actually, it looks like I’ve got a pretty nice balance going here. I’ve got long term, short term, and a want on both lists. I might have to keep that going!

By: J. Money

J. Money — Tue, 18 Mar 2014 20:02:58 +0000

In reply to charles@gettingarichlife.

Very interesting, I didn’t know that… I count our 529 into my own net worth since it a) can be used for any of my kids or future kids, and b) I don’t want my kids thinking they’re “owed” this now once they’re old enough to read my blog, haha… But I guess I can’t convince colleges/loan companies to think along the same route ;)

By: J. Money

J. Money — Tue, 18 Mar 2014 20:01:25 +0000

In reply to Dear Debt. You know it! Might as well fake trademark all of your fake ideas right? You never know what fake people might come and steal it ;)

By: J. Money

J. Money — Tue, 18 Mar 2014 20:00:21 +0000

In reply to Addison @ Cashville Skyline.

Do people still get things resoled?? I feel like it went away along with writing checks, haha… But I’d imagine it’s much much cheaper than rebuying – so good for you :)

By: J. Money

J. Money — Tue, 18 Mar 2014 19:59:03 +0000

In reply to @WilliamLipovsky, First Quarter Finance. Rock it, homeboy! And I'll be moving all my accounts to Vanguard soon too. Pretty excited about it.

By: J. Money

J. Money — Tue, 18 Mar 2014 19:58:07 +0000

In reply to Mrs. Frugalista. Holy. Crap. You guys are ballers!

By: J. Money

J. Money — Tue, 18 Mar 2014 19:57:43 +0000

In reply to Done by Forty. Haha... at least you can write part of that off with your blog business :)

By: J. Money

J. Money — Tue, 18 Mar 2014 19:57:00 +0000

In reply to Mel @ brokeGIRLrich. You're the second person to mention RD, PD? I guess I'm so smart that I call things just like he does?? Haha... I hope he doesn't sue me.