The Porch Light copyright by Revka (2006-2010). All rights reserved.

Friday, January 04, 2008

What Do You Do with Extra Money?

Whew! I thought things would slow down after RS Designs' header giveaway contest ended, but I forgot that we would still have to customize and install the designs. In addition to that, several winners and participants have expressed an interest in purchasing our services. Wonderful news!

All of our clients thus far have been extremely pleased with our designs and with our customer service, and we are slowly but surely gaining name recognition and are building an excellent reputation - goals that Linda and I have been working toward for some time now. Increased exposure leads to more business, of course, and we are happy to be receiving orders. RS Designs is, after all, a business, and the purpose of a business is to make money for its owner and her employees. *smile*

Since we are making more money (not a great sum yet, by any means, but more than before), I'd like to ask you what you do with "extra" money. Mr. Incredible's income is sufficient for our needs, and I don't want to squander the additional income that RS Designs generates. Here are the ideas I am considering for the future:

  • building our emergency fund
  • paying off our van early
  • fully funding our "freedom account"
  • putting money into a CD or money market account
  • financial investment
  • land investment

What do you do with income in excess of your needs?


MInTheGap said...

I'd make sure that you have an emergency fund, and pay off all your debt. After that, save up some for retirement (Roth IRA or 401k). After that it gets really fun!

Revka said...

Thanks for the advice, MIn. It's really sound and is pretty much what I had in mind. :)