May 2007 Weddings
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Let's play pretend

Let's say you just found out your bonus.  It's pretty good, about 8% of your salary after taxes and such.

What would you do with it?  Put it all in savings? Put some in savings and buy a new bedroom set?

(the only debt we have in our mortgage and a 0% car loan and a 1% student loan) (we earn more in our savings account compared to what we pay on the student loan)

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Re: Let's play pretend

  • Well, you know everyone will answer this differently.  I would personally put most of it into savings and buy something I needed, like a bedroom set (which it sounds like you need).
  • I would put the majority into savings and spend some on something we really needed.

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  • Im with the rest i would put most into savings and then buy something that was needed.
  • Oh I agree, a good chunk of it will go into savings, that's a no brainer.  I'm thinking that DH will try pushing to pay off some more of the mortgage, which I don't have a problem with but at the same time, our bedroom set is over 25 years old (it was DH's parents and then his).  It's a solid wood set but you can tell it's 25 years old.

    We already pay over $500 more each month on the mortgage, so the extra would help but definitely wouldn't cut too much off in terms of months/years, kwim?

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  • imageMelanie051907:

    Oh I agree, a good chunk of it will go into savings, that's a no brainer.  I'm thinking that DH will try pushing to pay off some more of the mortgage, which I don't have a problem with but at the same time, our bedroom set is over 25 years old (it was DH's parents and then his).  It's a solid wood set but you can tell it's 25 years old.

    We already pay over $500 more each month on the mortgage, so the extra would help but definitely wouldn't cut too much off in terms of months/years, kwim?

    Then I think it is fair for you to want and get a new bedroom set.  Afterall, it is your bonus so I think you should get the final say.

  • imagejalisni:
    Well, you know everyone will answer this differently.  I would personally put most of it into savings and buy something I needed, like a bedroom set (which it sounds like you need).

    This.  definitely.

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  • First of all congratulations on your bonus!!!

    I think you should do exactly what you said, mostly savings and then buy the bedroom set, very smart way to use the money.

  • If I was in your shoes I'd put it towards a bedroom set and the rest in savings.  If it we me I'd put it all in savings.  I wouldn't put it towards the mortgage and I'd only put it towards the car or student loan if it was going to pay it off.
    image Started TTC 11/07 BFP 09/24/08 Miscarriage 09/30/08 First cycle of clomid August 09 Second cycle of clomid September 09 BFP 09/30/09 Miscarriage 10/10/09 Three more rounds of clomid and no success Diagnosed with Unexplained Infertility Abnormal Bleeding for 3 months resulted in D&C but results were normal November 2010 100mg clomid but didn't respond December 2010 forced break for a cyst February 2011 150mg clomid but still no response March 2011 250mg clomid and responded! Ovidrel trigger shot and IUI on March 31 Beta #1 11dpo: 27 Beta #2 15dpo: 85 Beta #3 18dpo 276 Lilypie First Birthday tickers
  • I agree, buy a bedroom set, put the rest in savings!
  • We are like you.  We have our mortgage and one car pymt.  We put both of ours in savings.  We usually use a small amount for something related to the house.  But 95% of it goes into savings.
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