Week 21 - No Debt New Car Savings
It is week 21 in this mission to save enough money to pay for a car in CASH. This was my first week where I didn’t have to really think about my full-time job. I’ve got about a week before I must get back in the saddle. However, this week is when grades were due, and I was leaving to Miami on Saturday. This also means that I am going to miss a critical Saturday and Sunday (and really all next week as well).
To understand the basics, check out my first week’s blog where I talk a lot about this entire breakdown by clicking here.
In week twenty-one, I was able to add the following:
Mileage Reimbursement: $ 106.72
New Car Savings: $64.57
Total Addition to the New Car Fund: $171.29
After twenty-one weeks, I should be able to save $25,000 in 25.2 months or 2.1 years. As I look at the past and where I am now, it stinks to know that I am still two full years to achieving $25,000 in cash. It almost doesn’t seem like it should be that much time left. Especially when you look at the numbers below.
Here is what the account stands at as of 05/19/2019:
Mileage Reimbursement: $2,726.40
New Car Savings: $1,480.47
Total in the New Car Fund: $4,206.87
Amount to Goal: $20,793.13
Hitting $4,000 is a great thing because at the worst-case scenario if my car goes kaput, I can still be able to put down a good down payment and make payments if I still have to. Let’s hope not because that’s not the plan.
This week I did think about how I could increase the amount I put away into the car savings account. I thought about what if I stop trying to pay my credit card debt and instead put it all into the car savings. Every time I think about doing it, I realize that it is stupid to do because I really should be focused on getting that debt down.
Week 22 will be awesome (not really)…I will try to do a few when I get back from Miami on Sunday, but I have an event on Sunday, Hamilton!!! So, I won’t get much in the way of shops on Sunday either. Look for a few pennies to be added to the accounts, but any money is good money.
That’s it, see you next week.