Month: November 2014

Week 3: Health & Wealth Challenge

Welcome to Week Three of Tonya’s Health and Wealth Challenge over at Budget and the Beach.

As a recap – Week 1 was good. Lots of work outs, nearly all of it tracked and I saved a bunch. Week 2 was alright. I didn’t track as much as I wanted to, but I did have an overall alright week.

This week was a bit different.

Health

Oh goodness. I had three great workouts early in the week and then I did a whole lotta nothing. My walks to and from the bus every day probably count as 10 minutes of exercise, but good gracious I felt like I bump on a log this week. Must do better. #fail.

Wealth

There was a lot of spending this week. Lots of it. I bought a car, new winter boots and a Sonicare toothbrush. I went through the sweet details of my car earlier in the week. I managed to get 15% off my boots because my work is awesome.  The toothbrush was essentially 50% off through Sam’s Club. The toothbrush deal was so good because I bought a 2-pack. Now I just have to convince Hubs to use it, otherwise I paid too much.

This is really just me saying I spent a lot of money this week but got good deals.

My biggest save this week was getting confirmation for my Winter Wonderland vacation in early December! This is a major save because for all 3 nights in the King Suite, my total cost was a whopping $0. It saves to have friends in the right places!! I’m pretty sure food is covered all 4 days as well. Now I just have to pay for gas to get to the resort and any activities we want to do in the snow.

The only thing I have planned is showing off my awesome new boots!

Tofino Cate

Sorel Tofino Cate! They were practically calling my name!

Did you join the challenge? How was your week?

I financed a car – Here’s why

For my entire driving life, I’ve had a leased car.

First, it was a 2002 Honda Accord, then a 2006 Honda Accord, then a 2009 Honda Accord, then a 2012 Honda Civic, my current ride. Can you tell I’m a Honda girl?

Say hello Honda!

Say hello to my Honda!

When I leased my current car, I was just starting to dip my toe into the PF world. I’d heard that leases were a bad idea, but at that point I didn’t care. I needed a reliable car and a low payment. I didn’t have any savings. More than anything, I wanted to establish myself financially without relying on my family. With a reasonable payment and a great track record with Hondas, I felt comfortable signing on the dotted line.

My lease is up in January and I’ve decided to buyout my lease. Apparently people don’t do this very often. My finance guy at the dealership said about 15% of people buy out their leases. Most just turn in the car and get a new one. With everything I know, it seems like buying out the car is the best option for me. Here’s why:

1. My buyout price is lower than the value of the car. 

My lease was for 12,000 miles per year and I drove around that for the first year, but dramatically less than that the last two years. I’m averaging around 5,000 miles/year lately. Because of this, I’m under mileage and the value of my car is high. There is no damage on the vehicle and I’ve taken great care of it. If I wanted to get a different car, I’d have to pay much more or get much less.

2. Interest rates are stupid low right now. 

My interest rate for my 3 year car loan is 0.99%. When my banker told me that, I laughed at him. What’s the point of paperwork if the interest rate is only 0.99%? He should just lend me the money and I’ll pay it back at my convenience.

3. I didn’t want to save for the car. 

The car loan is for $13500. I could have saved up that amount of money but I deliberately chose not to. Saving for my car would have diverted funds away from my student loans. My student loan interest rate is 6.55%. My savings account earns an awesome 0.75% (this is actually awesome, I’ve only heard of a few places in the U.S. that offer better savings account rates). As you read above, the interest rate on my car loan is stupid low. The math made sense to attack my student loans instead.

(I did write a check for $1378 at signing to cover title, tax and my license tabs for the next year. No trip to the DMV for this girl!)

4. I like the car. 

This is important. I have no issues with my car right now. It is in great condition, does everything I need it to do and it gets excellent gas mileage. I also expect it to last a good, long time. What else could I ask for?

I’m excited to transition from car leaser to car owner. It feels very adult of me.

Now I just have to decide if I want to accelerate my car loan. At this rate, there is no reason to pay this thing off anytime soon.

Week 2: Health & Wealth Challenge

Welcome to Week TWO of Tonya’s Health and Wealth Challenge over at Budget and the Beach. As a reminder (more for myself than for you), the rules of the challenge are:

Health:

  1. Exercise for at least 10 minutes 5x/week
  2. Create one new healthy habit

Wealth:

  1. Find a new way to make or save money.

Last week I did pretty great. Lots of work outs, nearly all of it tracked and I saved a ton.

This week was a bit different.

Health

My workouts were alright. I got in a few and the times I made it to the gym were intense. However, my overall activity was down this week. I blame it on the snow. I didn’t even make it to Yoga this week. I’ve made it to Yoga every Monday for the last 3 months. Get it together Kate!

Total active days: 4*

*If standing outside and shivering like the dickens counts as exercise, I give myself 7/7.

Wealth

There still is no hustle in my game. I did help my sister with her math homework on Sunday, but she didn’t pay me…. and she ate my food. Did I lose money on that deal?

I found $0.03 {because I’m a baller}. I also discovered that my free art exhibit tickets were worth $70, instead of $64. #winning. I went with my sisters and we had a fabulous time.

I’ve been Swagbucks-ing and am nearly up to my $25 goal. Not bad, not bad! If you are interested in joining Swagbucks, click here to check it out!

I listed one more book on Amazon. Unfortunately, I didn’t sell anything over the last week.

As for my other goals for last week

  1. No pop. — Fail. I had 2 fountain drinks and several sips of Hubs’ A&W.
  2. 1 min plank every day. —  Nope, but I did do 7 minutes of planks over the week! Does that count?
  3. Lower my internet bill. — I called! The service rep informed me that it would cost more to adjust the bill now because my promo period is still in place. He told me to call back next month. Did I get scammed?

Cheers to a healthy and wealthy new week!

Did you join the challenge? Do you have any after work side hustle ideas?