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SavingSteve's 52 Week Challenge Thread

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    For week 12 I saved $51

    I've just been reading about the concept of multi-tier emergency funds and I think it's something I may do. Maybe some of my EF sould be in I Savings bonds. Why pay taxes on interest for money I won't use?

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      Originally posted by SavingSteve View Post
      For week 12 I saved $51

      I've just been reading about the concept of multi-tier emergency funds and I think it's something I may do. Maybe some of my EF sould be in I Savings bonds. Why pay taxes on interest for money I won't use?
      I think you have to pay Federal income tax, unless you use it to pay for education. But no state income tax. Treasury Direct reference: https://www.treasurydirect.gov/indiv...nds_glance.htm

      Good work with the challenge! I'm always inspired by your posts.

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        for week 13 I saved $50

        I learned this week that with Series I savings bonds you don't pay any federal tax until they mature in 30 years or you redeem them. Might be a good place for some of my emergency funds that I will likely never use.

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          It's week 14 and today I saved $49
          Also had a small windfall and saved an additional $251 from that.

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            For week 15 I saved $48
            Another small windfall I saved $150

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              today for week 16 I saved $11

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                It's week 17 and I saved $47

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                  good progress. keep it up!

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                    Another higher box ticked this week. It's week 18 and I saved $46.

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                      Just got back from vacation to a pile of bills.
                      For week 19 I saved $12

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                        For week 20 I saved $13

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                          whoa, nice! next challenge, make it a 520 week saving challenge!

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                            for week 21 I saved $45

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                              Almost halfway through the year!
                              It's week 22 and I saved $44

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                                Yesterday was week 23. I'm going back and forth between the higher and lower numbers. When I have a large bill due I save a lower number. This week I saved $14.

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