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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: nebroots February budget Date:  1/25/2007  12:25 PM
Author:  DrBooa Number:  246126 of 310601

On the WF though, the 227 is calculated the same way (finance charge plus last month's charges), but I know there will be about 100 of auto-charges put on that card associated with my contract work. I need to take ginko's advice and find a new card to use for the contract business, then deduct those expenses, plus some amount of withholding from my income before I start the family budget process. That last sentence shows me that I need to make a third goal for this month; increase my billables by some amount that my fuzzy math-mind has yet to determine.

Okay, my DH is self-employed, so I just wanted to mention a few things:

1) you will need to make estimated tax payments. 10% is a great start, but I would aim at 20% minimum, with an eye towards increasing it to at least 25% or one-third of your gross, unless you got a really huge tax refund last year (at least 1/3 of what you expect to gross this year), and your situation hasn't changed much.

The first estimated tax payment of the year is due April 15th, s