Yesterday I had my 2012 performance review. It went well which is not surprising considering I was promoted last October. I'm getting my full bonus target which is quite substantial. The question now is what to do with all that money? "But Jeremy, you have a mortgage, a 401k loan, a personal loan, etc.?" Uh...yeah, but I'm also stupid with money.
My new plan for extra money which also includes patent rewards and the extra two paychecks is a year is to firstly pay off all credit card debt. I then split whatever is left over thusly: one-third for other debt (mentioned above), one-third for my emergency fund and one-third for something cool.
As for something cool, I've narrowed it down to a gun, an indoor rowing machine and a HD home theater receiver. I think I'm too mentally unstable to own a gun and a new receiver would necessitate new speakers so I'll get an indoor rowing machine. There is one at the club where I play squash, but it would be more convenient for me to have one at home to use whenever I want. Rowing is a great fully body exercise and a really nice machine would be about a grand. It would also hold value and I'm not sure if I'm going to renew my club membership.
The cool money will have some leftover to spend in Portland on new indoor basketball shoes, an adventure hat, bike pedals, bike shoes and a bike helmet. As you can read, I spend most of my "free" money on health and sports which is not such a bad thing.