Thursday, January 21, 2010

Tax Return Challenge

It is that time of year!
Tax return time.
The poor man's bonus.

I was thinking about all the ways we used our tax return in the past: my trip to Bolivia with Brian, airfare to visit family, home repairs, and most recently to buy liquid propane for the year. This year I want to use it to help buy a car.

I have a challenge for myself (and you) but first some background. I have discovered that I am much better at doing something all at once than saving for it little by little. Kind of a character flaw but good to know. I would rather write a large check and have it over with than pay/save a bit at a time forever. It is the same way with food storage. We had been out of school for three years and hadn't made a dent in long term food storage. My 3 month supply was ok, we had a year's supply of beef on hoof, and a great garden, but I just couldn't get my act together about a year's supply of staple foods.

We moved to Iowa at about the same time our friends the Cooks were moving to New York. They were not going to be able to bring all of their food storage with them so they sold a lot of it to us. We had maybe 100lbs of wheat before and now (I need to add it all up again) I think we have 6-9 months of long term food stored. IT FEELS SO GOOD! Last month I also went shopping and bought multiple cases of the canned goods we use most often. I am finding that I probably only got a months supply of some while it might take us a year to go through the refried beans. IT FEELS SO GOOD! No guilt and good feelings when you look at all that food. Love it! I think for me doing it in big chunks is the answer.

This is my challenge: use your tax return for food storage or getting your finances in order. I would even put food storage above low interest (like student loan, mortgage) debt. Use the Food Storage Pamphlet or the Family Finances Pamphlet to help choose a family goal.

This is my commitment:
Before buying a car I will:
  1. Purchase the rest of my long term food (notice I don't have to pack or organize it?)
  2. Update and reorganize our 72 hour kits
I also have a simplified rotation plan. I am going to package everything in #10 cans and am not going to rotate it for 15 years. That is it. Hey, they are good for 20-30 years! I will have long term products like wheat, rice, powdered milk, beans and oatmeal in my three month rotation supply so that we are eating what we store and would easily be able to switch over to long term storage if necessary, but no stress about rotation for 15 more years. Ahhh.... It is a freeing idea. Just shove the boxed cases under your bed (perhaps scribble a "don't worry about until 2025" on the box) and go on your way. Beautiful.

Will you join me?
Make a food storage/tax return goal - you won't regret it.

P.S. I will be posting more on food storage later in the year.
And just so you don't feel picked on, I have illusions of having a large reading audience so when I say "you" I am not thinking of you personally but of all my adoring readers - please don't burst my bubble. :)

3 comments:

Charlotte said...

Now I do feel picked on because a car is EXACTLY what we planned to do with our tax return... and some student loans. I suppose I could commit to redoing our 72 hour kit... It needs a complete overhaul because I'm pretty sure there's not one thing in there for Alivia, we've used a lot of the first aid kit, and half the food is expired.

So I'll commit to that much... because I need a car so I can even get to the case lot sale to stock up on the other stuff. :)

Christine Merrill said...

Yeah, we've never gotten a tax return, so I guess I totally can't relate to this :) Oh well, here's to real jobs!

Leila said...

Charlotte, I was going to say I know your pain, but Brain can run home and drop off his car for me when I need it so I am way better off car wise. Totally buy the car.

Christine, never even earned income credit? That extra couple of thousand a year is what we looked forward to all year in grad school! Are you guys going to DC? I'll check your web page.