Home > July '23 Savings

July '23 Savings

August 19th, 2023 at 01:48 pm

Received $122 bank interest 

Received $240 I Bond interest 


Snowflakes to Investments:

--Redeemed $30 credit card rewards (cash back) from our grocery card 

--Redeemed $75 cash back on Citi card

--Redeemed $7 cash back on dining out/gas card 


Other Snowflakes to Investments:

+ $8 Savings from Target Red Card (grocery purchases)


TOTAL: $120 Snowflakes to Investments


401k Contributions/Match:



Snowball to Savings/Investments:



Savings (from my paycheck):

+$  450 to investments

+$1,000 to cash (mid-term savings)


Pulled from mid-term savings:

-$165  Garage Door Repair


Short-Term Savings (for non-monthly expenses within the year):

+$1,500 to cash

-$130 Graduation & Birthday

-$100 Travel (college trip EV charging & multiple gas trips to camp)

-$100 DL supplies for summer at camp

-$  78 Pest Control

-$  70 Concerts


TOTAL: $3,584 Deposited to Cash & Investments


Note:  Also pulled $1,375 July/August rent from 'college savings'  


Hybrid Miles Driven:  

Electric (EV) Miles Driven: 

These auto updates are slowing me down.  I decided to let it go.  I think I have got the point across that we are saving a lot of money re: car gas. 

Still expect to completely breakeven on EV purchase in just 5 years.  (Fuel saved = cost to purchase car).  I can circle back in 2025, do some math, and see how this played out.  I expect gas prices will rise and the breakeven point will just happen faster.  Interestingly, was not our motivation whatsoever re: EV purchase.  Was much more interested in the quiet (re: hearing diability), just charging the car at home, not worrying about brakes on big hills (if ever).  Stuff like that.  But I always get "Your bad at math" comments.  Always from someone with a $60K+ brand new SUV/truck with fuel payments that rival my mortgage.  This has just got me thinking more and more how the car entirely pays for itself.  Very quickly.   

I always think, "What on earth do they think I paid for this car?  $100K!?"  It was a $15K slightly used sedan.  Americans aren't known for their financial sense, what can I say.  I know there's some expensive EVs out there but I don't know anyone buying those cars.  MH's financially independent friend just bough a Bolt.  He was eyeing the fast charging Kia? but told MH the Bolt was half as much.  He just couldn't get past that, even if he could easily pay cash for the $40K car.  My bff was financially independent in her early 40s and ended up with the same car.  She is frugal to the extreme (most years lived without a car).  She found a $100/month lease deal because of course she did.  & my in-laws bought a Bolt this year.  I've never had a car that all my friends and family were buying up.  It's just such a no brainer if you are cost conscious.   It's *the* car.  I think it just stands out as the frugal sweet spot.  You can go cheaper and deal with other issues (low range and battery degradation).  I certainly have had some very broke friends buying or leasing less practical EVs due to low cost.

If there's something new and interesting on this front, I can do a separate post. 


Note:  I am always lagging a month behind because any bills charged in June will be paid off July 1 and reflected in my July numbers.  I charge in one month and the next month I figure out how to pay for everything (if I need to pull anything from savings).  So this update reflects June spending & July savings.

MH has the summer months off.  His time off keeps getting shorter and shorter.  I think it's only going to be July & August that we don't have the extra income.

Monthly college rent will be a new thing.  I am just pulling from savings in the short run but will reimburse form I Bond money at the end of the year.

Nothing crazy on the spending side.  But we have exhausted short term funds for the year.  Ugh!   & I mean, I will continue to save for the dentist, property taxes & insurance.  But every other category (vacation, auto repair & misc.) has been exhasuted already for 2023.  I've been resisting bumping the monthly savings amount because of all the more one-off kid centered expenses.  But when I look through 2023, I don't see a lot of one-off expenses. 

At the least I should probably add $50/month to short term savings (will start in January).   For the summer I will have to pull from mid-term savings.  The rest of this year will pull from MH's income.

Finally got garage door repaired.  It was a nice surprise that it was a quick fix.  Another long story, but it's done. 

June & July were nice savings months, but it's all going to go to heck in August and September.  August will probably be the worst.  No MH income, tuition due, etc.   & I am charging a lot of expenses that will be paid in September.

1 Responses to “July '23 Savings”

  1. LivingAlmostLarge Says:

    I keep thinking about the EV but I'm really struggling with where we are with our cars. I really think we're going to keep what we have and deal. I think it might be worth it fuel wise. But then at the same time I'm on the fence because two paid for gas cars relatively new 2015 and 2016. Even with $5 a gallon gas, how much am I really going to save if we don't drive that much?

    Insurance will be more, but then i guess that offsets maintenance. It would be so easy if I wasn't so aware of spending money on a car. If I could just mentally say I want a new car, or the gas savings would be X, Y, Z. But it's really not for people who have older cars and don't drive a ton. We drive on average 10k a year between us 8k on one car and 2k on the other car. Since I track our mileage i can even tell you gallons what it costs us in a year.

    I'm not sure even paying $15k for a bolt right now would make sense. Maybe. It certainly doesn't make sense to buy a new $40k ev

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
Will not be published.

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]