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It is currently Sat Oct 25, 2014 3:10 pm




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 Post subject: Re: Soaring Higher
PostPosted: Mon Oct 15, 2012 12:55 pm 
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Joined: Thu May 17, 2012 10:05 am
Posts: 1114
Well, I was called into my bosses office and...

Got a $1300 bonus from work that is reflected on the next paycheck! The bonus was due to an award for engagement and accountability, business-based decision making, and teamwork. Basically I saved our customer about half a million bucks through some of the decisions I made. Of course about $340 went to taxes... But still that's over $950!

Lol. It was a breath of fresh air compared to my last job and the companies management strategy. ;)

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 Post subject: Re: Soaring Higher
PostPosted: Mon Oct 15, 2012 1:40 pm 

Joined: Mon Nov 01, 2010 5:15 pm
Posts: 1201
Eagle wrote:
Well, I was called into my bosses office and...

Got a $1300 bonus from work that is reflected on the next paycheck! The bonus was due to an award for engagement and accountability, business-based decision making, and teamwork. Basically I saved our customer about half a million bucks through some of the decisions I made. Of course about $340 went to taxes... But still that's over $950!

Lol. It was a breath of fresh air compared to my last job and the companies management strategy. ;)

Sounds kinda like you got taken. $1300 for half a mil? That's like two tenths of a percent or something.

Beats a poke in the eye I guess... :D


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 Post subject: Re: Soaring Higher
PostPosted: Mon Oct 15, 2012 2:02 pm 
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Joined: Thu May 17, 2012 10:05 am
Posts: 1114
Tightwad wrote:
Eagle wrote:
Well, I was called into my bosses office and...

Got a $1300 bonus from work that is reflected on the next paycheck! The bonus was due to an award for engagement and accountability, business-based decision making, and teamwork. Basically I saved our customer about half a million bucks through some of the decisions I made. Of course about $340 went to taxes... But still that's over $950!

Lol. It was a breath of fresh air compared to my last job and the companies management strategy. ;)


Sounds kinda like you got taken. $1300 for half a mil? That's like two tenths of a percent or something.

Beats a poke in the eye I guess... :D


Yes, well nothing in my contract states I get a bonus. I was just doing my job. I handle multi-million deals daily. ;)

Way to rain on my parade Tightwad. :^) :fubar: :(

I'm thinking a portion is going to go to shopping lol.

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~ Eagle


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 Post subject: Re: Soaring Higher
PostPosted: Mon Oct 15, 2012 2:39 pm 

Joined: Mon Nov 01, 2010 5:15 pm
Posts: 1201
Eagle wrote:
Tightwad wrote:
Eagle wrote:
Well, I was called into my bosses office and...

Got a $1300 bonus from work that is reflected on the next paycheck! The bonus was due to an award for engagement and accountability, business-based decision making, and teamwork. Basically I saved our customer about half a million bucks through some of the decisions I made. Of course about $340 went to taxes... But still that's over $950!

Lol. It was a breath of fresh air compared to my last job and the companies management strategy. ;)


Sounds kinda like you got taken. $1300 for half a mil? That's like two tenths of a percent or something.

Beats a poke in the eye I guess... :D


Yes, well nothing in my contract states I get a bonus. I was just doing my job. I handle multi-million deals daily. ;)

Way to rain on my parade Tightwad. :^) :fubar: :(

I'm thinking a portion is going to go to shopping lol.

Sorry man...not trying to rain on your parade just pointing out that employers will screw you if they can. I've done similar deeds & didn't get squat!


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 Post subject: Re: Soaring Higher
PostPosted: Mon Oct 15, 2012 4:32 pm 

Joined: Sat Feb 12, 2011 5:47 pm
Posts: 90
Location: Ontario, Canada
Congrats on the windfall. I'd choose an amount to spend completely frivolously (and enjoy every penny) and then do something responsible with the rest.

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 Post subject: Re: Soaring Higher
PostPosted: Thu Oct 18, 2012 5:23 am 
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Kate1 wrote:
Congrats on the windfall. I'd choose an amount to spend completely frivolously (and enjoy every penny) and then do something responsible with the rest.


$150 - We gave to a pro-life charity.

$100 - Buying a bigger car seat and bouncer (the kind you hang on the door) for the baby.

$30 - Date with the wife. We had fun just the two of us! ;)

$150 - New Ecco dress shoes for work. I usually buy these every 2-3 years and my pair as my wife pointed out is wearing out.

$??? - Contemplating upgrading my wife's line to get her an iphone. I have a couple of lines eligible for upgrade on our AT&T family plan. $.99 for an Iphone4 8gb, $99.99 for an iPhone 4s 16gb, $149.99 iPhone 4s 32gb (Refurb). So far not a big fan of the iPhone 5 due to the change in connectivity... That would mean upgraded a lot of accessories, etc.

My phone line isn't eligible for an upgrade in Feb of 2013. ;( Time to start saving ;)

The rest is going into savings.

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 Post subject: Re: Soaring Higher
PostPosted: Thu Oct 18, 2012 5:49 am 

Joined: Fri May 04, 2007 8:14 pm
Posts: 1953
Eagle wrote:
$150 - New Ecco dress shoes for work. I usually buy these every 2-3 years and my pair as my wife pointed out is wearing out.

Have you considered re-soling? I get a lot of wear on the soles but the uppers last a very long time because the quality of the leather is high. You might consider trying that. I can usually get 2 re-soles (and new heels more often) out of a pair of good shoes.


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 Post subject: Re: Soaring Higher
PostPosted: Thu Oct 18, 2012 7:47 am 

Joined: Tue Jun 30, 2009 9:44 pm
Posts: 309
Location: Atlanta, Georgia
Congrats on your bonus, Eagle! It's always nice when your employer gives you some monetary recognition for your hard work, especially when it's not required of them to do so. :clap:

Before upgrading to an iPhone, just make sure you think about all the costs you'll be locked into and for how long and whether that's right for you. That said, I'm on the iPhone 3GS, which I bought just about three years ago, with AT&T. Obviously I'm out of contract now, but I'm happy with the phone and service (and get data paid for by my employer) -- have had no problems yet (crossing fingers).


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 Post subject: Re: Soaring Higher
PostPosted: Thu Oct 18, 2012 8:12 am 
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VinTek wrote:
Eagle wrote:
$150 - New Ecco dress shoes for work. I usually buy these every 2-3 years and my pair as my wife pointed out is wearing out.

Have you considered re-soling? I get a lot of wear on the soles but the uppers last a very long time because the quality of the leather is high. You might consider trying that. I can usually get 2 re-soles (and new heels more often) out of a pair of good shoes.


This is a possibility thanks VinTek. Will look into this. ;)

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~ Eagle


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 Post subject: Re: Soaring Higher
PostPosted: Thu Oct 18, 2012 8:19 am 
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LeRainDrop wrote:
Congrats on your bonus, Eagle! It's always nice when your employer gives you some monetary recognition for your hard work, especially when it's not required of them to do so. :clap:

Before upgrading to an iPhone, just make sure you think about all the costs you'll be locked into and for how long and whether that's right for you. That said, I'm on the iPhone 3GS, which I bought just about three years ago, with AT&T. Obviously I'm out of contract now, but I'm happy with the phone and service (and get data paid for by my employer) -- have had no problems yet (crossing fingers).


Thanks! ;) I agree free money when you don't expect it is always nice.

Re: iPhones - As far as an iPhone 3GS... My sister has one of those. You can upgrade your line with AT&T for 99 cents I believe to an iPhone 4 8GB. The camera is significantly better (3 megapixels vs 5 megapixels, the phone is thinner, and runs faster. Probably will be an added $30 per month for her data plan (3Gb). Honestly, this would help her be able to be on email/internet around the house without having to have her laptop in her lap. Also, we love pictures and her camera isn't recieving/sending pictures now. So the camera on the iPhone 4S (8 megapixels) is definitely a plus.

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~ Eagle


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 Post subject: Re: Soaring Higher
PostPosted: Thu Oct 18, 2012 8:21 am 
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Tightwad wrote:

Sorry man...not trying to rain on your parade just pointing out that employers will screw you if they can. I've done similar deeds & didn't get squat!


No worries Tightwad. I agree often if given the opportunity many employers will try to cheat their employees out of benefits, perks, etc. Thankfully, my company is not like this overall from what I've seen.

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~ Eagle


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 Post subject: Re: Soaring Higher
PostPosted: Thu Jan 16, 2014 1:33 pm 
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Realised I hadn't updated this in a while.

1. Income and Expenses
A. Income is about 63k (Got a 7k raise this past year arount October) on top of the - Take home is now about $3550 after taxes, health/dental insurance, 8% in 401k, and 2% in Roth IRA.
B. Expenses are about $3300 a month between mortgage, utilities, groceries, cell phones, internet, gas, charity, etc.

2. Assets
C. We have about 40k in our checking/savings accounts.
*We have about 26k in our Emergency Fund.
*5k is set aside for the deductibles and co-insurance for baby girl due to be born March 2014.
*There is 2.4k in our Checking Account. We have already incurred expense of about 1.2k on our credit cards this month.
*We have about 1.4k saved for medical expenses. (Need to get that up to 2k since our deductibles went from 650 to 1k this year.)
*We have about 1.1k saved for our vehicle insurances. (This means we don’t have to save but $100 for the entire year of 104 towards vehicle insurance which is about $500-600 every 6 months.)
*We have $760 saved up for son’s college fund. We need to determine what we’re going to do with this money this year.
*We have $750 saved up towards a new van.
*We have $700 saved up towards our next purchase. We could use this towards the purchase of a new fridge, etc. or put this money towards the furniture.
*We have $675 saved up towards little girl’s college fund. We need to determine what we’re going to do with this money this year.
*We have $675 saved up towards vehicle repairs. We potentially have another $3k worth of repairs/maintenance (I got a quote last year) that needs to be done on the Toyota Sienna Van.
*We have $575 saved up towards Wife’s teeth expenses in the future.
D. Both vehicles (2007 Civic 10k and 2004 Sienna 8k) are paid off.

3. Debts
E. About 5.5k (original purchase was about 8k in October) left in furniture we bought at 0% interest for 60 months. The payments about $90 a month and we’ve been paying $250 each month so we should be able to pay this off in 22 more months.
F. Took the plunge and bought a house October 2013. We put 20% down on the house. About 106k left on our mortgage at 4.625%. We pay every two weeks and also pay $100 extra per month on the house towards the principle. The house was valued at 135K last year.

4. Investments
G. We currently have a Fidelity account mutual fund investment that has roughly 68k.
H. I have a 401k with about 55.5k.

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~ Eagle


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 Post subject: Re: Soaring Higher
PostPosted: Fri Jan 17, 2014 10:56 am 

Joined: Tue Oct 01, 2013 11:54 am
Posts: 75
I think you are doing great with your money!

I can't wait until I'm as established and as comfortable as you!


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 Post subject: Re: Soaring Higher
PostPosted: Fri Jan 17, 2014 12:02 pm 

Joined: Tue Mar 11, 2008 12:19 pm
Posts: 1778
Location: Ottawa, Canada
Eagle, I think you're doing great, and you've had a lot of positive events happening lately. Keep up the great work, it's very inspirational!

That said, I just had to take issue with one minor thing you mentioned:

Eagle wrote:
F. Took the plunge and bought a house October 2013. We put 20% down on the house. About 106k left on our mortgage at 4.625%. The house was valued at 135K last year.


It was valued at 135K by whom? What did you pay for the house?

Sorry, this is a bit of a pet peeve of mine. It bugs me when people say, "We bought the house for $125k, but it was worth $135k." No it wasn't. If it was worth $135k, then it would have cost you $135k. The fact that you got it for $125k means that the other buyers looked at it, and decided that they wouldn't outbid you. Thus, it's not "worth" $135k unless you can find someone willing to pay $135k for it.

The fact that the county might have appraised it at $135k is meaningless. The county doesn't buy houses. All that matters is what actual buyers are willing to shell out. And in your case, you were the winning buyer, at $125k, so it wasn't "worth" $135k because nobody was willing to pay that much for it. It was worth exactly what you paid, and not a penny more, or someone else would have bought it.

Again, I'm not picking on you, just voicing a general pet peeve regarding when people try to overstate the value of their homes.


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 Post subject: Re: Soaring Higher
PostPosted: Fri Jan 17, 2014 12:29 pm 

Joined: Tue Oct 01, 2013 11:54 am
Posts: 75
kombat wrote:

It was valued at 135K by whom? What did you pay for the house?

Sorry, this is a bit of a pet peeve of mine. It bugs me when people say, "We bought the house for $125k, but it was worth $135k." No it wasn't. If it was worth $135k, then it would have cost you $135k. The fact that you got it for $125k means that the other buyers looked at it, and decided that they wouldn't outbid you. Thus, it's not "worth" $135k unless you can find someone willing to pay $135k for it.

The fact that the county might have appraised it at $135k is meaningless. The county doesn't buy houses. All that matters is what actual buyers are willing to shell out. And in your case, you were the winning buyer, at $125k, so it wasn't "worth" $135k because nobody was willing to pay that much for it. It was worth exactly what you paid, and not a penny more, or someone else would have bought it.

Again, I'm not picking on you, just voicing a general pet peeve regarding when people try to overstate the value of their homes.


This is not always true.

I bought a house in 2012. A farmer owned it and was farming the land, but the house was worthless to him and he was renting it out. Just being silly we called him and asked if he wanted to sell it to us for 50k. He said yes! WTH? We were shocked and excited.

He felt 50K was what the land and outbuildings were worth, and he gave us the "house" for free. Because he thought it should be torn down, because it was a 100 yr old farmhouse, and who would want to live in that...

Long story short, we put under 20k of renovating into it, and redid the entire house down to the studs. We now have a practically new, "free" house, sitting on a 50k piece of land.

The house is now worth at least double what we paid for it.

He could have put it on the market and gotten a LOT more out of it. Small acreage is priceless in my area. But when I called and made an offer, he sold it to me on the spot because he didn't see the potential, and he didn't want to be bothered with it.

So you can't always say, "if it was worth more someone would have paid more."


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