Today my tax refund was deposited. Yes it was rather large (for me) -- about twice what I usually get. Yes I have to adjust my withholding, but this is my first year at this job.
And every dollar has a name. I have a plan for this money!!!
First step -- transfer money to savings. DONE.
Baby Step 1 is $1000 cash in emergency savings. DONE. I got close, but then my Nov emergency wiped me out, then I had 2 months of dentist fees. it was expensive, but I needed to be able to eat. I had saved about half. Slow but steady. Now I am DONE.
Thanks to the savings I already had, I also have money left over. My plan for this money is:
1) Buy equipment and domain name and maerketing materials for my business idea.
2) Pay off my first, smallest debt to start my debt snowball.
I could really get the snowball going if I didn't spend the money on other things. But the point of the business is to generate more income. I want to use this money to prime the pump, otherwise it will all be gone and I will still be struggling to pay off debt and save on my small salary.
I am excited!!!! Despite my long blog posts, I am not a person who just talks and talks. If I'm talking about it, I am doing it. I am putting together a plan, fleshing out my ideas, and getting myself ready.
Lucky for me I have numerous friends and relatives and contacts in the creative services areas and the small business areas and the branding and marketing areas. I have been getting a lot of great advice, support and resources.
Time to roll.
Photo: Money hearts. I have been searching for the source with no luck so far. If you find it, let me know so I can credit!