Weekly Spending

July Pay Period #1

Gas: $226.75
Tithes: $114.00
BLOW Money: $101.00
Grocery Store: $77.33
Entertainment: $13.00
Lawn/Home Care: $25.00
Bills: $298.17
401K: $45.00 (not including 50% employer match)
Dental Ins: $12.00

Oooo Weee. Look at that gas expense. It’s hard out here for a professional driver. My husband is a freight and logistics contractor and he travels everyday.

We plan to purchase a used KIA this weekend since it will use less fuel to operate. We currently spend roughly $1,350.oo a month in fuel. We plan to offset this by getting the KIA which will use roughly $900.oo a month in fuel. Below is how we decided to get a small loan for another car.

VAN (Work/Family Car)
Gas $1,300.oo
Inurance $92.oo
Auto Loan $450.00 (Will be paid off in September 2008)
Car Tax $7.92 (1/12 is $95.oo)

Total $1,849.91 a month for (Automobile #1)
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If we no longer use the van as a work/family vehicle and purchase a used smaller car for work this is what it will look like financially to operate both the van and car each month:

VAN (Family Car)
Gas $40.oo
Insurance $92.oo
Auto Loan $450.oo (Will be paid off in September 2008)
Car Tax $7.92 (1/12 is $95.oo)

Total $589.92 a month for (Automobile #1)

CAR (Work Car)
Gas $900.oo
Insurance $75.oo
Auto Loan $300.oo (18 month loan complete August 2009)*Will be paid off by Feb.2009
Car Tax $ 5.00 (1/12 of $60.oo)

Total $1,280 a month for (Automobile #2)
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Total cost to operate both Automobile #1 & #2 ($1869.92)
Total cost to operate just Automobile #1 without a second car ($1849.91)

Difference (-$20.01)

Luke 14:28For which of you, intending to build a tower, sitteth not down first, and counteth the cost, whether he have sufficient to finish it?

Proverbs 31:16She considereth a field, and buyeth it: with the fruit of her hands she planteth a vineyard.

Pros

* Hubby doesn’t have to turn down work to take us to doctors appointments (my son goes to the allergist once a week)

* We’ll have two cars in case of emergencies

* The van will be paid off in September subtracting $450.oo bringing the operating cost of both cars to ($1419.92) per month

*If and when the van breaks down we don’t have to pay for rentals for my husband to work like we did for three weeks of June 2008

*Me and the kids will have vehicle again (yay!)

*Will be extending our date snowball completion date by a few months

*Will be in debt on a car loan for an additional 5 -12 months.