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Extra Paycheck

February 13th, 2024 at 03:52 pm

I AM SO EXCITED!!! I got an expected paycheck at a very UNexpected time.

I was the assistant flag football coach at my school this year. It is a paid position (that I did NOT want, but 3 different people asked me to take the job… long story involving lots of work drama!). I knew I was going to be paid as a coach, but I thought the check would come in summer. I was, and still am, the head soccer coach at my school and I was paid in July last year. Anyway, unexpectedly, this paycheck came on 2/9.

After taxes, I received just over $900. I put one third, $300 into savings and the remaining $600+ went towards our credit card debt.

Our credit card cycle closes on the 14th and I think and am hoping, this extra payment will push me past the $10,000 threshold. It has been so hard to get below $10,000 and we are so close.  

I was tempted to put the entire amount towards our debt, but I am happier splitting it up and adding some towards our savings. Security is a big deal to me, and I am trying to grow our savings while at the same time paying down debt. We have two main goals right now: decrease debt and increase savings. Splitting this extra paycheck helps us to address both of them.

I’m so thankful this extra paycheck came when it did! I will know in a couple of days if it was enough to bring us below $10,000 in credit card debt! But even if it isn't, it's another step in the right direction!

Wish us luck!

4 Responses to “Extra Paycheck”

  1. LivingAlmostLarge Says:

    Thank you for being a coach or else so many kids would not have the opportunity to participate in sports.

  2. mumof2 Says:

    congrats....extra money is always great

  3. Brunette Says:

    Thanks... I swear I get more out of it than the kids do. I have loved getting to see another side of the kids than just what I see in the classroom!

    And, yes, extra money is always welcome!

  4. Dido Says:

    Nice getting the check early and being able to apply some towards debt reduction as well as increasing savings.

    I just learned yesterday that we would be getting an annual bonus after all (they usually announce it at the monthly company meeting in February and they didn't say anything this week, and I knew that we were behind on some of our revenue targets, so I had figured we wouldn't get one this year). I still have yet to learn how much and am also doing the debt reduction/savings calculation. My usual move is to put the majority of the bonus towards debt reduction except for putting some into a sinking fund for known large expenses later this year--but then I typically increase my savings percentage into my 401(k) so that I am saving more but also getting a slightly larger paycheck. (We also learn our annual salary adjustment when we learn about our bonus.)

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