Week 28 - No Debt New Car Savings
It is week 28 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 28, I was able to add the following:
Mileage Reimbursement: $95.12
New Car Savings: $56.67
Total Addition to the New Car Fund: $151.79
After 28 weeks, I should be able to save $25,000 in 24.8 months or 2 years. It looks like the time has to save $25,000 is on par as it was last week since there was no movement in the 24.8 months. It will probably drop over the next few weeks as I ramp up the side hustle effort since I am on summer break.
Here is what the account stands at as of 07/07/2019:
Mileage Reimbursement: $3,269.23
New Car Savings: $1,899.85
Total in the New Car Fund: $5,169.08
Amount to Goal: $19,830.92
This was my first full weekend where I didn’t have to prepare for classes or worry about any additional responsibilities regarding my full-time work. Although the numbers aren’t a vast improvement from last week, it will become better as we get through the next three to five weeks. If you’ve read my side hustle post for June, you learned that I have 3 - 4 weeks off with no real responsibilities in my full-time job (I do have things that need to be completed, but it is not as intensive as teaching classes). This will probably allow me to side-hustle more and more. I set a goal of about $600 per week in side hustle. This equates to about $200 - $250 that gets pulled to the No Debt New Car Savings.
The next three weeks will be interesting for sure.
Remember, all of the money that goes into the NDNC savings is from side hustle jobs. See my posts about side hustle income here.
That’s it, see you next week.