Money for College Project Weekly Roundup: New Car Edition
My wife and I have finally made the decision to buy me a new vehicle. I took a new job back in April 2011, that increased my daily commute significantly. I now drive 94 miles per day, round trip. As you can imagine, this meant that our fuel bill skyrocketed. I currently drive a 1997 Ford Explorer Sport which has been paid for for over 5 years. I love the vehicle, and would not even consider getting rid of it if it were not for it’s terrible gas mileage – 19 mpg highway.
So, after taking a close look at our budget and expenses, we have decided to purchase a new Chevy Cruze. The new vehicle gets 42 miles per gallon. We are able to get 0% financing on the loan, and pay a down payment also. With the savings in gas every month, I will be able to come within $50 of evening out the savings in gas expenses, and the increase in having a car payment!
I did not factor in the higher taxes and insurance yet, so I know that will put me behind again. At this point in my life it if worth it to me to have this job, and our family is alright paying a little extra for this opportunity. Can’t say that will be the case in 5 years though…
Anyway, as I prepare to buy a new car this weekend, here are some good reads for your edification!
Money for College Project
Turn Your Hobby into $1Million Business An insider’s look at how some personal finance bloggers turned their hobbies into multi-million dollar businesses. Also, some baby steps to get you headed down that same road.
2012-2013 FAFSA – Sneak Peak An advanced look at the 2012 – 2013 FAFSA. You can’t fill it out yet, but this will give you an idea of what to expect.
Unwanted Christmas Presents We have all gotten them – Christmas presents you don’t want, and will never use! Here are 3 ways to get rid of them, and turn the unpleasant gift into something worthwhile!
Awesome Articles You Need to Read
Raising Entrepreneurial Kids Man V. Debt wrote an excellent article about teaching our kids to be entrepreneurs at a very young age. I think this is an excellent suggestion, and something I fully plan to do, when we have kids.
$20 Free from Amex Penny Hoarders has long been one of my favorite personal finance sites to visit. Every time I visit I seem to learn something new, and for some reason the style of posts and random nature of the money saving ideas always sparks my creativity.
Ultimate Holiday Lights Display I don’t know how many of you feel the need to imitate Clark Griswold in Christmas Vacation, but if you do, or if you secretly wanto, here is an awesome article on how to dominate your neighborhood light competition.
Sustainable Life – Goal -O- Matic
The Millionaire Nurse – Shoplifting
Daily Money Shot – 30K Amazing Race
Money Beagle – Manage Your Mortgage
KNS FInancial – Pay for Spray
Bucksome Boomer – End of Year Tax Moves
Invest in the Markets – Risk Management
Dog Ate my Wallet – Volunteer from Home
My Personal Financial Journey – Solo 401K