12/13/2013

End of The Year Income

Posted by with 1 comment
As the days left in December tick away Jordan and I have started to solidify our income transition plans from his bi-weekly pay schedule to his new twice/monthly pay schedule.  He has approximately $4,500 worth of vacation owing to him that will be paid out, and I have 30 hours of overtime that I have requested be paid out.  As Jordan has hit his CPP/EI maximum's, I expect that after taxes the vacation will  net about $3,000 and my OT will net about $650.  We also just received the second portion of December's rent ($300) so it looks like we're in fairly good shape to ride out whatever changes come our way.  

My mouse trigger finger just wants to sweep that $$ onto our debt, but the plan is to hold strong until mid-January to feel out our 2014 cash flow strategy first.

1 comment:

  1. Morgaine13 December 2013 at 08:55

    I think this is a very smart strategy. I've seen on a few episodes of TDDUP where Gail suggested to set up a "float" so that people can smooth over times where money is tighter than other times (people who are self-employed or get commissions). I want to set up a float too, not because I'm in either of those categories but I find myself going over budget in areas like clothes because I decided to purchase a jacket ($100 or up) where most months the average clothing spend is maybe $50. It would help to keep the budget from going completely out of whack. Good luck!

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