I've been a part time teacher at City University of New York, John Jay Campus for the last 8 years. Easy gig. Nothing big, but it's about an extra $16K a year for 4 hours a week. Earlier this year, NY state and our teacher's union came to a contract agreement. The last contract we had expired in 2004. So, that meant that they owed us a lot of retroactive pay. It wasn't as much as I hoped, but good enough.

I also put in a call to the payroll department in August to check on a raise I was entitled to for years of service. It turns out that I was entitled to 2 raises and it dates back about 4 years. They finally called me up and told me what I'll be getting. It's about 25% of my annual salary from John Jay. December stands to be a good month.

What should I do with the extra cash? I didn't really expect it, so it's not budgetted for. I plan on putting about 30% into my son's saving account.

For the rest I'm thinking one of the following:

TV for the living room. 50 inch Sammy DLP.
New computer and desk.
Save for a second vacation for next year.
Or just save it all.

I'm thinking TV. My computer is on the fritz, but it's still working well, and I'm sure it's fixable. And I'm already going to Trinidad next year for my sister's wedding. I plan on making that my vacation.

 

invest... drop it into an ING direct account or something

 

That was another option. I also thought of dropping it all into my mortgage. I just figured it would be fun to get something I want as opposed to something I should do.

 

25% of $16k - 30% = $2800 if I understood you correctly.

With that you should be able to get a 50" DLP and a somewhat decent computer.

It isn't enough for a full vacation or worth investing if you've already got a decent invest plan with your current income.

 

Yeh, that's pretty much what it is. I don't think I'll do both. I'll pick one up and save the rest of the cash.

 

All these options are good options. You didn't count on the income, so it's extra. Enjoy it. I wish I had that kind of month! I'll get over it if the Gators win next week vs. Arkansas!

You're also smart to put some in the investment account for your son. Start early. Hell, I've got two accounts, and my "kids" haven't even been conceived yet !

 

I'd invest rather than buying a TV.... 5 years from now, it's old tech.

 

Yeh, but 5 years for any tech toy makes it out of date.

 

So we shouldn't bother with new technology?

Go for the TV..have some fun. Like you said, sometimes it feels good to do what you want rather than what you should.

 

So, do you not buy food because eating is waste, since you're just gonna get hungry again later?

 

529 for the kid.

 

i'd rather get the tv than a new computer.

do you have any debt to pay off? if i had extra cash like that, i'd probably use it to pay off my cc debt.

529 isn't a bad idea either. but it seems like you're wanting to spend it on something fun.

 

why dont you put 2000$ in your son's account... wiser move, IMO...

put the rest towards little gift for yourself and the ones you love.

 

The plan was to put about $1200 in an account for him and then anything he gets for Christmas plus some of the tax cash I will hopefully get back.

Jedi: I pretty much consoludated all my debt, so it's a nice managable payment. But putting some cash in won't hurt.

 

I suprised no one said buy shit for the car. This is a car forum. I was all set to shoot that down.

 

Modding a car with a baby is kind of hard. And also i forgot what infiniti you drive. (at least i remembered infiniti)

 

I35. No plans to mod it anytime soon. Modding anything is hard, but truth be told I didn't loose too much when I modded the CL and parted it out.

 

well, since you are not horsepower and you have a kid, modding woulnd.t be pratical. Also i don't think there are that many mods for the I35. Anyway, dump half money for TV (Get an LCD) and the other half towards ravi jr.

 

Put the money for the kid in an educational IRA...it can earn interest and won't be taxed when it's pulled out for tuition, books, etc.

If you want something basic to do with the rest (and/or to do with your idle cash now), think about a nice, simple online savings account. As opposed to regular ones at most brick-and-mortar banks that pay half a percent, the online savings accounts are paying north of 5%. It's not a huge amount of money, but if you've nothing better to do with it, it's a great, simple way to go. Drop by bankrate.com to find good rates. If I remember, it's bankrate.com - checking and savings tab - MMA's and Savings Accounts (comparison) - Search for 100 highest yields - then categorize by highest APY's. You'll have to evaluate minimum balances, fees, etc., but it's a great tool.

 

There are mods out there for the I35. I'm just not sure I want to dump anything into it. With the CL, if I wanted something, I just went out and got it. I was making decent money for myself. Now I have different priorities.

I was planning on doing that, but my laptop is completely crapped out, so I got a new one. And the rest will go towards other Christmas presents. About 30% still goes towards Elliott (Ravi Jr).

 

sounds good

what laptop did you get? i'm wanting to get one soon too.

 

I got a Dell. I was leaning towards a Toshiba, but I got a better all round deal from Dell.

http://configure.us.dell.com/dellsto...=DNPCEY3&s=dhs

 

cool...lemme know how it is. i'm also deciding between a dell and toshiba. or maybe an hp...i've read good reviews recently on their laptops.

 

Apple. Buy an Apple. Like the difference between an Acura TL and a Honda Civic. Everyone in the world can drive a Civic - it does basically everything you need and it's pretty common, but the TL does everything you want, to. The Apple computers do everything your brain has wished a computer would do - makes everything 10x easier and is much more ergonomic. And yes, for those that are scared of Macs, they are nothing like they were years ago, and have all kinds of compatible programs for those that love PC (strange folks).

Sorry...I'm strangely passionate about this. It's just the best way to go.