SavingSteve's 52 Week Challenge Thread

[SavingSteve]

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?

[scfr]

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.

[SavingSteve]

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.

[SavingSteve]

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

[SavingSteve]

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

[SavingSteve]

today for week 16 I saved $11

[SavingSteve]

It's week 17 and I saved $47

[Moolah22]

good progress. keep it up!

[SavingSteve]

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

[SavingSteve]

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

[SavingSteve]

For week 20 I saved $13

[Kaoru]

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

[SavingSteve]

for week 21 I saved $45

[SavingSteve]

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

[SavingSteve]

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.