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Two days in to 2013, plus two days until payday...

January 2nd, 2013 at 04:18 pm

Boy, this whole fiscal cliff thing. Don't get me started. Let's just say I really started to hand-wring two days ago when I sat down to figure out what hub's paychecks were going to be, then budget out all of our expenses and savings goals.

I realized I had no idea how much we would be getting per check considering payroll tax, medicare tax, uncertain income tax withholding, plus the new higher 401k max (we max out each year). So yeah. It all hit me at once.

That, and we have a lot of goals and a lot of big expenses, and I've been running the checking account down to razor thin-- which seems to always happen this time of year, with the holidays and my desire not to dip into savings or go into debt.

We'll be fine, as long as I know what I'm dealing with. I'm still waiting to see, I guess. Although, I'm not really looking forward to payday as much because I have to pay off the last of the holiday bills, plus 6 months of car insurance, the kids' tuition, plus tuition for an extra program in February that we paid for in advance= lots and lots of bills, which = not a lot left in the account--again. Ugh.

At the moment, it's hard to think we'll come close to meeting any of our goals, but as always, it's just a question of plugging away. And plugging away. And then plugging away some more. I guess it's hard to look at all those zeros under the goal line in the sidebar!!

And so many big things to pay for. I think I'm psyching myself out and the marathon has just begun!

On a more positive note, Now that the holidays are behind us, I've put away decorations, and managed to clear out my office/craft space and clean up around our basement food and stuff stockpile. It got very messy, trying to make, wrap, and or hide gifts from the eyes of preschoolers, but now it's getting back to normal. I also organized three closets and installed new hooks for backpacks, etc. So, a little bit more organized in the new year!

4 Responses to “Two days in to 2013, plus two days until payday...”

  1. creditcardfree Says:

    I was overwhelmed the other day about paychecks and taxes too. It is a lot for those of us who plan ahead. Just think about those who don't see the payroll tax expiration changes coming!

  2. TexasDisneyGirl Says:

    I can't seem to find an online paycheck calculator that will give an accurate picture of what DH's paycheck will be. It's so frustrating! I'm a little surprised that the payroll tax didn't get extended. That affects almost everyone!

  3. MonkeyMama Says:

    I can't even imagine - I get the leg up of being "in the know" and more tools at my disposal. Though hand calculating/guesstimating is getting tiresome - I need software updates! Our tax code is far too complicated to figure by hand any more.

    I swear by paycheckcity.com (the withholding matches the payroll software we use at work, anyway) for calculating paychecks. But I admit even the numbers I ran today, lord knows. For whatever reason it decreased my Fed withholding a wee bit for 2013, so I figured it was probably good (they obviously had not wildly changed the 2013 tax tables from 2012). I don't know if the tax tables will be adjusted with the newest tax laws, or if it was largely assumed most tax breaks would be extended. ??? So I may have to play with my withholding again later.

  4. ThriftoRama Says:

    Well, I feel better that I wasn't the only one flummoxed. But only a little better.

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