Week 27 - No Debt New Car Savings
It is week 27 in this mission to save enough money to pay for a car in CASH. It wasn’t the greatest of weeks, but here are the numbers.
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-seven, I was able to add the following:
Mileage Reimbursement: $54.47
New Car Savings: $40.06
Total Addition to the New Car Fund: $94.53
After twenty-seven weeks, I should be able to save $25,000 in 24.8 months or 2 years. That is an increase from last week at 24.5. It’s not getting any better, but in a week or so, I can push this side-hustling to be able to decrease the time…hopefully.
Here is what the account stands at as of 06/30/2019:
Mileage Reimbursement: $3,174.11
New Car Savings: $1,843.18
Total in the New Car Fund: $5,017.29
Amount to Goal: $19,982.71
So I basically only did side-hustling on Sunday. I needed personal time to get other work done and I just didn’t have the margin to be able to side-hustle during the week. In the above numbers, I was credited by my bank interest of $2.74 ($1.69 on the Mileage Reimbursement and $1.05 on the New Car Savings). It’s important to note that the accounts above are actually not what the amounts are. I have shifted these funds to a Citi account for the next 60 days or so in order to get a $500 bonus (which is more than the interest I would have accrued). You can read all about that in my four part series over here. Some might question why the interest was so low on such a high balance especially in a high interest savings account, well that’s why.
Remember, all of the money that goes into the NDNC savings is from side hustle jobs. See my posts about side hustle income here.
Next week won’t technically be better, but school will be done and therefore I should have some margin (maybe) on Saturday and Sunday to side-hustle my way to…(I don’t know, I am lost for words).
That’s it, see you next week.