Bigger Paychecks ($87,335)

I’ve been messing with my payroll deductions since the beginning of the year.  In 2014, I had HSA contributions taken out of each paycheck–a decent amount in an attempt to ramp up my account to cover at least the deductible.  This year I decided to move that down to $0 per paycheck, and just have a lump sum taken out of my bonus.  Because I’ve been used to living with a certain sized paycheck, I wasn’t looking to increase my take home pay, but wanted to increase my retirement contributions with the extra money (and largely keep with the theme of pre-tax payments). For my lump sum HSA contribution, I contributed what I had hoped would be the maximum contribution for the year, taking into account my employer’s contribution, and the fact that I’m hoping the man gets a job with better/cheaper health insurance (errr… that the better option is cheaper/more subsidized by his employer than the better option that I have through my work is now), which would render me unable to contribute to an HSA for that part of the year.  Depending on what our family timing plans are, I may keep myself on the high deductible health plan for a year, and keep contributing to the HSA for as long as I can.  I digress…

I had moved my 401(k) contribution up to 10%, then back down to 9%, with $100 going to a separate bank account post-tax, to be moved into the Roth IRA I opened.  The first paycheck I received in February, the 9% contribution was implemented, but the $100 separate deposit had not yet, so this looked like more money in my spendable paycheck.  This paycheck, the separate direct deposit was in place, but my paycheck was still higher than usual.  Could this be my raise? Nope–adjustments from the last minute changes to 2014 taxes (and how much is taken out pre-tax). This change brought me another $90.  I’ll take it!

I’m not sure if it will be in the next paycheck, but I am waiting on a significant raise to show up in my paycheck.  After taxes and deductions, I’m hoping it will be an extra $100 which should reduce my reliance on tapping into my separate savings more often than I’d like (as I have been doing).  I may also potentially increase my student loan payments an extra $50 a month each month, which would be another $450 in principal payments this year.  Every little bit helps me get closer to my goal!

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