Went in to my bank today (Comerica) with my babysitting check

DH is travelling and has the ATM card. I am on both my daughter’s and son’s checking accounts also, and all are linked online so I can transfer money around if I need to.

I wanted to see how much of the babysitting check would be immediately available if I deposited it in branch.

Answer: Zero. Oh. And the check funds won’t be available until WEDNESDAY.

But if I deposit it through the ATM into my son’s account, $200 of it will be immediately available, I can transfer that 200 into my checking account immediately and pay off CCs, and the remaining 150 will be available on TUESDAY.

Did I mention that by 1pm they empty out the ATM and process deposits like a regular branch deposit?

So if I come in face to face, it’s 5 days before I have access to funds. If I use an ATM, I get immediate access to 200, and access to the rest in 4 days. And you still have to process it.

401K money hasn’t been taxed yet

Its taken from pretaxed paycheck dollars. But when you go to withdraw it at 59.5 years of age and following it will be taxed at that time, at your tax rate at that age. In theory your tax should be less, the older you are…

Roth IRA money is paid by you, in after tax dollars, and you don’t have to pay taxes on it when you go withdraw it at 59.5 because you’ve already paid tax on it, before contributing it.

As far as match, some companies provide a match of maybe 50% of your contribution up to 5% of your salary. Or they might match 5% of your contributions etc. They define their own percentage and terms on the match, which is free money to you. Its recommended that if your company provides a match in any amount, to take it, but do ONLY whats necessary to get the matching funds. The rest of your retirement contributions should be funneled to a Roth.

Why not it all in one basket? Thats not diversification. Also company plans generally have picked for you what you can invest in. You get greater choice with a Roth. Plus if you’re in a company plan, you’re totally at their mercy if they should decide to change companies, or if they want to put all of their investments in their own stock…

I am happy to report that I paid off another credit card

paid tithing, and am looking forward to paying off another credit card in the next day or so once the dust settles on debits to my account and deposits to my account.

Paying tithing may seem like a frivilous thing to some, but as DR and others have said: it’s a habit which shows you are in control of your money and living within your means (for those who tithe, not saying if you don’t belong to a faith which tithes that there is a problem.)

That is certainly the case with me. Unlike DR’s advice (not to mention the church), I have a very bad habit of tithing last, when or if I have any money left over, vs doing it upfront. So to be able to take care of this says to me: look, your life is back in control. You CAN tell your money where to go, and you CAN exercise faith.

So I’m very excited on all fronts.

Nerd that I am, I worked out a plan for the babysitting job, since the one I have with the nurse looks like it is going to dwindle to twice a month rather than once a week (not complaining.) We’ll still be on track to be original debt free by the end of December, or mid January at the latest.