May 2007 Weddings
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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)
Re: Let's play pretend
I would put the majority into savings and spend some on something we really 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?
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.
This. definitely.
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.