• Like a bad penny, debt always turns up…

    unless we change how we interact with money, of course!

    The Bad Penny is dedicated to two pursuits: getting out of debt and staying out of debt! It recognizes that frugality and caring for our planet go hand in hand, and that our unsatiated need for stuff is hurting us in so many ways.

    Easier said than done!


    I am not a finance professional. I write about the world as I know it, and my advice may not be the best course of action for you! Please seek qualified advice for your particular situation.

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Tax Rebates!

I’m so glad to hear that they’ve passed the tax rebate.  Do I think it will stimulate the economy?  No.  But that’s not why I’m happy.

I’ll admit I’m being very short-sighted when it comes to the tax rebate.  But I’ll be honest in saying that we have two major expenses we need to come up with money for in the next several months, and the tax rebate coupled with our likely tax refund will not only cover these expenses, but leave extra money to put into paying down debt or paying up our emergency fund.

1. I mentioned this before, but we have to put new windows in upstairs.  There are three of them and they are single-paned, screenless, original 1940s windows.  Last summer they were painted permanently shut, but my husband managed to get one to open just as it got too cold to open them.  It was so hot in that room you would immediately sweat as soon as you went upstairs.  A few days ago, during a particularly cold time, I went upstairs to find that the windows had iced over – on the inside.

We pretty much keep this room closed off, but late this summer, this room will become my son’s new bedroom.  As such, we have to make sure the windows work (in case of an emergency as well as for circulation) and that they insulate the room from the cold – and the hot when it becomes unbearable enough to turn on the air conditioning.

We estimate about $200-$300 a window if we install ourselves, but we haven’t begun to price this yet, and the last time we bought a window it was pre-September 11th.  Prices have surely gone up!  We did see an advertisement on TV for windows – bought and installed – starting at $169.  It will be worth looking into, although I’m dubious those windows will be worth it.  I want to make sure we have quality windows if I’m going to pay for them.

2.  The other expense we need to look at is the supercharger in my car.  It’s quickly failing, and it’s costing us in gas mileage. We only use the car when my husband is at work and I have to run to errands or appointments.   I’m not sure what this will cost us.  It still runs and will continue to, but we will pay for the failed supercharger either in a new one or in gas!

Needless to say, this tax rebate is a blessing for us!  I’d love to be able to put the full amount toward debts, but these repairs are necessary, and hopefully we’ll have some left for debt!