Royalties!

I just found out from my boss today that we’ll be receiving royalties on the paper that we wrote last year. It is $1,000 to be split between the 3 of us who wrote it. After applicable taxes (which my boss is paying), the total will be between $250-300 a piece. It will probably be a few weeks before I actually SEE the money, but I still wanted to map out what I wanted to do with it.

There are the obvious things – pay more on the credit card, put it in the E-fund, perhaps even add it to my travel fund so I can go see my grandma. I like the idea of buying something fun – like my Netbook that I’ve been wanting for forever and a day. Or perhaps add it to my IRA – which sits at a pathetically low value of $356 for 2009. =)

I’m just not sure, but I’m pretty sure I’ll just end up putting it onto my debt. More money will always come, but I want this debt gone.

What do you do with semi-large unexpected money? I don’t want to blow it all. But it feels so boring to just say I’ll “put it on the credit card”.

Thing that made me happy today: Found a new blog “What Made You Smile” – I love the idea of an entire blog dedicated towards finding things that make you smile!

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15 Responses to Royalties!

  1. Jessie says:

    hmmm…

    well, I would say maybe top up your emergency to post vet-bills level – put have on the CC and keep the second half for your netbook.. then save up for a couple of months to get the rest of the netbook cash

    • SS4BC says:

      I like where your head’s at! And that reminds me I need to change my “progress bar” to include the decrease because of the vet bills.

      I just don’t think I’d feel good about buying a net book until I’m in the clear with my credit card debt. It is a want, not a need. But a want that I’ve had for QUITE a while now!

  2. Yay for unexpected money!!!

  3. I say debt. Or maybe $200 to debt, and the remaining of what you get to travel or Netbook fund.

  4. lifeasapurse says:

    I agree with Jessie, split it between a couple of responsible things and save a little of it for your netbook to help keep yourself motivated. But even an extra little bit in your emergency fund or on your credit card will be great! 🙂 Congrats on your paper too, btw.

  5. I agree with GMC. Since CC rates tend to be high, I’d put majority of the money for credit card repayment and $50 or so for a splurge item.

  6. It’s like dieting – if you don’t splurge every once in a while, you’ll definately binge.

  7. Revanche says:

    For once, I just like the idea of banishing the debt for once and for all. After all, as you said, more money will happen and it’ll be “worth” more after you don’t have to send any of it towards debt (or interest).

  8. It may be boring, but think about how good it will feel when that debt is paid off just a little bit sooner. Put a small amount aside for your netbook and use the rest to pay down the debt…well, that’s what I would do, lol.

  9. I totally know it is lame, but pay down that debt. The interest accruing on it is a like a little monster…that is very mean. Haha.

  10. WellHeeled says:

    I say take $50 and use if for something you want, then put the rest to the CC’s. Congrats on the paper!

  11. congrats on this unexpected money. 🙂

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