Well, looks like the stimulus plan is going to make it through. I'm really not a fan of the idea, but I guess it's time to at least entertain the idea of what to do with the money.
Bush won't be happy. It won't stimulate the economy.
Looks like we're in line for $1,200 as a couple.
With a new baby due April 4, we've decided to put all of it into junior's 529 college savings fund. We'd planned to contribute $2,000 this year (that's the max for the state income tax deduction). So we'll only need to put in $800 after that to reach our goal.
Hey, I don't know how expensive having a baby is going to be, so it does feel good to not have to think so much about scraping together the money for that future college education!
Our $1,200 tax "rebate" going to...
February 9th, 2008 at 12:22 am
February 9th, 2008 at 12:24 am 1202516672
February 9th, 2008 at 12:39 am 1202517555
I think our big concern cost-wise are things like college. With a 529, we're looking at about $200 a month in contributions for the next 18 years. And, likely, sports. But, if I keep him out of equipment sensitive sports, maybe he'll be cheap. Looks like hockey is out!
February 9th, 2008 at 12:44 am 1202517886
February 9th, 2008 at 12:47 am 1202518020
February 9th, 2008 at 12:48 am 1202518123
February 9th, 2008 at 02:31 am 1202524289
Medical stuff scares me too. I don't know how much more we'll have to pay for insurance once the little one is added to the policy. Plus Dr. visits, co-pays, etc. Ugh. So much to think about.
I'm guessing it will be sports because both I and dad are sporty. And I can't really say no, considering I have a $400 pair of roller skates! (for speed skating and roller derby). Don't want to be a hypocrite.
Then there is babysitting and childcare. Luckily, we won't need much in that arena right away, but if I ever want to go back to my full-time gig, it will be a problem...
February 9th, 2008 at 03:36 am 1202528210
February 9th, 2008 at 03:19 pm 1202570362
And congrats on the baby!!!!
February 9th, 2008 at 03:30 pm 1202571009
But I think that is a great way to spend your $1200. It's important to you and helps defray the costs a little. Yay!