Stupid Tax: Car Inspection, Commute, and Margin Interest

It’s official, last week was my stupid tax week. I am not talking about the tax rebate, or tax refund. Basically, I did a couple of stupid things that cost me money.

Car Inspection

I look at the red safety inspection sticker every time I get into the car. For some reason, I never registered that mine has expired. My father in law was going back to Thailand on Sunday, so we went out to celebrate. That was the first time I parked on the street for a long while. I even made sure I overfed the meter to avoid getting a ticket. Sadly, when I got back to the car, I saw a bright orange NYC parking ticket.

The result? $65 for expired safety inspection sticker. Stupid.

Commute

Normally, I drive to my job in Brooklyn I know it’s bad for the environment and more expensive, but it does save me 2 hours a day. Last Thursday, I drove 30 minutes to work only to realize that I have a meeting in Manhattan. I ended up parking my car at work and took a 45 minutes train rider into the city. I could’ve taken the train directly from home in about 30 minutes.

The result? I wasted almost 2 hours plus the cost of gas. Stupid.

Margin Interest

I was working on my income taxes the other day and had to tally up my margin interest expenses. My brokerage account plays a central role in my finance, so I occasionally overdraw my cash fund and dip into the margin account — essentially borrowing from the brokerage firm. This way, I don’t have to liquidate my stocks knowing that my paycheck will be deposited into the account in a few days.

The result? I paid $69 in margin interest expenses in 2007. While this is not bad, I could have done a better job and avoid paying this altogether.

Well, I guess stuff happens. At least, I am not alone on stupid tax. It happens even to the best of us:

I’ve Paid For This Twice Already…: Holding Pattern – Emergency Fund on Standby
Debt-Free Revolution: Stupid Tax: Overdraft Fees
Working For Financial Freedom: Procrastination Is Expensive
Finance and Fat: Saving Money on Car Insurance by Planning Ahead
An English Major’s Money: We’re On the Move

7 Comments

Debt Free Revolution
February 13, 2008, 8:14

Yup, it does happen to everyone at some point, Pinyo. Live, learn, and blog about it LOL
Lisa
February 13, 2008, 10:02

Yup, It does-
I got caught for a speeding ticket a few months ago. In Massachusetts, in addition to the painful $110 fine, my insurance will go up around $100 a year for the next three years!
ouch-
Lisa
nomorespending
February 13, 2008, 13:29

It seems to happen to all of us a some stage Pinyo.
I got stuck with a Ã‚Â£60 fine last week for ‘driving in a bus lane’, I didn’t even know it was a bus lane but they had pictures ;(
Pinyo
February 14, 2008, 7:10

@Lisa – that’s really sucks big time. Sorry to hear.
@Nomorespending – Caught by traffic cam?
Adfecto
February 14, 2008, 10:24

We all make these little goofs from time to time. Not too long ago it came time to renew the registration on both of our vehicles. I waited until nearly the last day and went to the DMV and of course there was a 2 hour wait. I was “too busy” to wait in line so I left without getting it done. Something managed to come up that kept me from getting it done the next few days and of course I was late. There was a $35 late fee for each car. Thankfully I’m not so irresponsible all of the time, but this one cost me $70.
Pinyo
February 15, 2008, 21:17

I hate lines at DMV. There are lines for everything there.
Make Friends, Earn Money
April 6, 2008, 8:19

Just sounds like it was a bad week. If I spent as much time analysing my financial decisions I would probably find numerous examples of how I could have shaved lots of money off my baseline costs, but hey I also want to enjoy life. I wouldn’t be too hard on yourself, just look at how much you are generating from blogging now!