General Goals 1) to be debt free in 3.5 years 2) save lots of money

Tuesday, April 12, 2011

Tax Return, GST and Banking Woes

I have become a bad case of what not have happen when dealing with Banks, Gail would be so disappointed in me. Today after work I went to the ATM to see if my $50 deposit had gone through OK, only to find my account was in the negatives again. If screaming in a work environment was considered OK, trust me my friends in Australia would have heard me!! Any ways I walked in to the bank branch before it closed to talk to a teller about this. I explained that I had already talked to ING about over drafting my account but that I had deposited $50 into the account to being it back up to a balance of $2. She told me that for every overdraft transaction the bank charged me $5 because my account was 'mistakenly' not treated as a staff account. I don't know why this is the case... I haven't been fired... and trust me when I leave the Company Bank this account with be Closed, CLOSED. The Teller told me she should reverse the charges tomorrow, since it was the end of the day. Now I will have to go down tomorrow at lunch to make sure the charges have been reversed, so that I don't have further issues with over draft charges. Honestly this is becoming one bad nightmare!!!

My GST cheque came in the mail last week ($62.50) it will go to my Line of Credit, when I get to the bank hopefully tomorrow.

My tax return finally came in on Monday. The total came to $2,178.23.

This is how I have decided to brake the money down.

$852.20 to wipe out my Consumer debt (Visa card debt)
$490 for Child Sponsorship renewal
$237.30 to my accountant for doing my taxes
$450.00 towards my Car Fund
$50.00 towards Retirement Fund
$98.73 towards What if ...Fund which will go towards my Anime North 2011 weekend

So tell me what do you think?? Any suggestions?? I am not going to get to the bank until after work tomorrow so any feedback is welcome!

2 comments:

  1. I think your disbursements are fine - getting rid of the consumer debt should be your first priority. My only suggestion would be to use Turbotax next year and save yourself the $$ paid to the accountant - it's pretty easy to use. And kudos to you for sponsoring a child:)

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  2. thanks Jane! I agree with you Turbo tax is what I am going to use next year!

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