Year-End Money Moves

Posted on Monday 28 December 2009

The end of the year is fast-approaching. That means I spent a few hours yesterday looking at our finances. Due to an extra paycheck that I wasn’t expecting (it was scheduled for Friday 1/1 but that’s a holiday so it was moved to Thursday 12/31), I was able to max out my 401k. I originally expected to be a few hundred dollars short so that was a pleasant surprise. However, Mr. Savvy is on the same pay schedule as me. That meant he exceeded the max by several hundred dollars. That money went into after-tax contributions. I guess it’s done now but I would have much rather that money go into his SEP-IRA instead.

Next, I tallied up my total income for the year, including the extra paycheck. I sent an extra payment to our church online to ‘true up’ my tithe for the year. I also need to remember to take the bag of stuff in my closet to Goodwill before the year is over.

Next, I sent another $200 to my IRA. I’m nowhere near maxing that out but will before the April 15 deadline. Once I’m done contributing, I will do a Roth conversion. I also took a look at our asset allocation. There are a few tweaks to be made but there’s no rush for that. What year-end money moves are you making?

savvy @ 2:19 PM
Filed under: 401(k) andInvesting andIRA
Stupid Money Tricks

Posted on Monday 7 December 2009

No Diving
Creative Commons License photo credit: goto10

In my zeal to get rid of all my ‘excess’ bank accounts, I forgot one small detail…the mortgage comes out of the ING checking account.  I had already transferred all the money out when the December payment posted, or at least tried to post.  Of course, ING rejected the payment and sent me an e-mail.  When I get home tonight, I’ll log on to the mortgage site and see what the damage is.  I’m pretty sure it will be at least $25 for a returned payment.  Doh!

Have you made any stupid money mistakes lately?

savvy @ 5:47 PM
Filed under: Mortgage