Thursday, February 5, 2009

Tax Refund...got a plan set in stone?

I don't really care to call it that. Sure, it is technically a 'refund' but still...it's just an interest-free loan to the government that they are giving back to me. I really would have preferred keeping the money in our pockets all year long, but that's another post altogether.

Either way, we apparently loaned the government a pretty decent amount over the course of last year, and it's on it's way. Paperwork hoops have all been jumped through, i's dotted and t's crossed in their proper manner.

On the plans for this refund? Well, Dewey has his eye on a backhoe. I'd like to get all my school wish list in place.

But, what's going to happen with it is we are going to stimulate our own economy. We are paying off the bigger of the two loans, and then doubling up on the smaller loan and knocking it out of the way as well.

Yes, seems a bit backwards. Ramsey says snowball it from smallest to largest. That's good advice. I'm not saying anyone should do any different. But for us, that big loan is the thorn in our sides. We at the very least will pay a huge lump down on it, then refinance it so we can double it up anyway. Whatever gets it gone works for us.

These loans are the reason Dewey is working in Arkansas. He's on his last trip home now. They are jumping up to running 2 full-time crews, with him doubling his hours as well. Whatever isn't paid off with that refund, will be within no more than a handful of paychecks with those kind of hours.

See, tax season ain't so bad, if you're going to be doing it anyway. Personally, I think you shouldn't be doing it that way, but that's part of that whole other post I mentioned... As it stands, if you have to get a refund for all that involuntary lending you did while working, make sure you put it to good use. Dot those i's and cross those t's on paper and commit to that plan without fail. Don't just spend it away on little things. Make it make a difference in your lives for the long-term. Don't, not in these days and those to come, make a decision based on short-sighted wants.

On another note -- Dewey mentioned his employer is talking about 2 more jobs -- possibly up in Illinois. Should The Lord lead us to continue on with the work, it will be a whole family move this time, at least for the job term. Enough time apart. They don't call it a family so you can chat over the phone and internet instead of in real life, in person. Children need their Daddy. So does Momma, truth be told. He told his boss I'd be moved before he was if we were heading anywhere north for a few seasons :o)

Either way, it's in The Lord's Hands. He led us to the job he's on now, and He will lead us where we need to go from here.

8 comments:

debbieo said...

My husband also works away from here. We are trying to sell our house so we can join him. He has been there since the first of Nov. Its really hard to be apart. I share your pain. But we do what we have to in these times.
take care,
blessings
debbieo

Ann'Re @ Home said...

Since hubby's plant is closing soon we are preparing for that by paying off certain bills (like our car loan) stocking the pantry and socking extra money away. If we get a refund (not sure if we will yet) then anything we get will go to that.

Mrs. Arrow said...

Thank you for such a nice comment on my blog!
1 - Thank you for the herbal advice. I will check out Shondra Parker's books.
2 - You are so right about sharing the bread recipe, oops. I'm new to blogging and I forget that people can't walk over to it on my frig and read it for themselves :). I'm posting it right now. My girls and I are making more bread tomorrow!
Thanks again and God bless you.
Peace.

Lily Among Thorns said...

We are using our tax refund to pay off some debts as well. We will be using it to pay off my last medical bill. It will free up a 500 a month payment that is also a thorn in our sides.

Mrs. Dewey Smith said...

I know it's a shame that when we get these refunds they can't be used for something more 'fun' or such, but if we don't set those plans in stone before that money arrives, it will nickle and dime away without much of a lasting nature to show for it.
Those who aren't carving those plans now will be sitting here in summer wondering why they didn't pay this or that, do this or that, etc.
I'll be wishing I had bought this or that, I'm sure, but freeing up that now-budgeted money will be much better in the long run.

Deanna

Anonymous said...

Hello,
Just wanted to let you know that I really love reading your blog--I check it most days. We live in Illinois and my husband is probably going to get laid off here soon--praise the Lord that your husband has work and may be getting transferred! We also got a refund and are trying to get all of our outstanding debt paid off--God is so good!
Stacey

Mrs. Dewey Smith said...

Hi Stacy -- what part of Illinois are you in? We were in the north, around Rockford/Winnebago, Durand areas.
Sorry to hear you have a lay-off in the picture.
We did that kind of thing alot. While Dewey worked for the union, he was always off work. It certainly didn't help with budgeting any :o( I wish you luck in finding another job -- does he do electric work? Wanna move south????

Deanna

Anonymous said...

It is so funny you say that----he has actually been hired out to do electrical work by several contractors--on the side--he does not actually have his electricians license, and he is wanting to move, are you referring to southern Illinois, or way south? If you have any info just let me know, you can e-mail us @ snamorv321@yahoo.com We are about 45 minutes to an hour southwest of Rockford--or about 45 minutes east of Clinton Iowa on the Illinois side......Looking forward to hearing from you.
Stacey

Jer.6:16

Jeremiah 6:16
Thus saith the LORD, Stand ye in the ways, and see, and ask for the old paths, where is the good way, and walk therein, and ye shall find rest for your souls.

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