Friday, March 22, 2013

The Car Challange

This past week we found out that the median home value in St. Louis County dropped by 7%.  So What does this mean?  Even though we have spent the past 2 years pouring money into our home (which we bought in 2010), the value of our home dropped by $12,000 since last year.  This is pretty much the norm for homes in my area.  As if that wasn't enough, our taxes went up too.  We had planned on refinancing our home (which we bought for $70,000 and was valued at $115,000 in 2010).  We had hoped to use the extra money to pay off our current auto loan and buy a second vehicle for me.  Looks like those plans have changed.  Now I have challenged myself to save enough money to buy a car.  How will I do this with no job?  Through couponing, reward sites like Swagbucks, and from selling handmade hair accessories!  Yep.  That is my big plan!  With the money I save from my shopping trips, I will toss that into our savings (trick is to not spend the money that I save while couponing, but to save it instead).  I also plan on taking advantage of every rebate I possibly can. Again, all of those checks will go straight into savings.  Then with the rewards sites, I'm planning in on cashing out with PayPal.  My goal is to hit $5000 - $7000.  I am starting from $0, so let's see how long it takes to buy a car by using my saved money!

I will update my blog on my progress bi-weekly.  Wish me luck!

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