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What to do with $1000

October 19th, 2010 at 07:02 pm

I just got paid for two months freelance work, and after paying my city and federal self employment taxes, I have $1,000 left. What to do...

After a day full of thoughts, I decided to:
$700- to IRA
$100 to each of the kids' 529 plans
$100 extra payment on the car

I think this allocation is in line with our bigger goals, so I'm satisfied. I just set up all the transfers.

I've got three more checks coming in 2010, totalling about $1800. Thus far, the plan is to put $1300 of that into the IRA to meet my $4000 goal for the year. I will add $400 total to both kids' college accounts ($200 to each), and use the final $100 as an added car payment again.

In the mean time, I will try to drum up at least one or two more projects by the end of the year, so I can have more money to play around with.

3 Responses to “What to do with $1000”

  1. creditcardfree Says:

    That seems like a great plan!

  2. LittleGopher Says:

    Yes! Making great headway on your goals!!

  3. Homebody Says:

    Ha I thought you were going to reference Money Magazine. Front page article on what to do with $1000. You have a good plan.

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