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Project Money November Update

Project Money November Update

We’re coming up to the last month of this year’s Project Money! Time flies, doesn’t it? These teams are making plenty of moves to go out owning it. Keep reading to see where these families are and learn from these savvy savers while you can!

Amanda & Nick

Amanda and Nick previously opened a home equity line of credit (HELOC), which helped them consolidate their credit card payments and lower interest on other bills. For now, they’ve decided to concentrate on building a cash reserve and then go back to focus on their HELOC full time. We like it. Other highlights include setting up a 403(b) as a supplementary retirement savings plan (nice!), while also starting a Fresh20 food plan. In short, the service provides specific shopping lists for meals to help you avoid overspending at the grocery store on ingredients you never use. Well done, you two!

Emilee & Rob

These two have been (so much) fun to follow! In addition to the usual catch-up on Rob’s adventures, the couple also outlined some pretty inspiring recent learnings from Project Money. They had an open dialogue about their priorities, resulting in Emilee re-opening her Planet Fitness gym membership (she closed it earlier during the program). They also shared ways they’ve been owning their finances! From being cost-conscious yet still going out with friends, to depleting their pantry before hitting the grocery aisles, Emilee & Rob are on a roll. Did we mention Rob has started taking the bus to school to save some gas money? #Dedicated. Awesome stuff!

Heidi & Mitch

A major theme for Heidi and Mitch was the dialogue they’ve had with friends and family (including their kids) around finances, largely inspired by their Project Money journey. They’ve altered their Christmas gifting this year, spreading financial savings to everyone. How great is that? Perhaps their biggest win of the month came when Mitch decided to change the oil himself…on both of their cars! The savings results were impressive, to the say the least. After doing some research, Mitch found the cheapest shop around would do the oil change for $50.34. He found oil for $2.29/quart. Needing 6-quarts, the total cost of oil was only $13.74. Add the $4 filter the total cost was only $18! Go D.I.Y.!

Drew & Liz

Drew and Liz recently began tracking all their purchases to gain some transparency into where their money is going. How, you ask? Why the Summit Budget Tracker, of course! After doing some extra homework, they decided going forward they’re going to put 50% of all their “extra” income toward a down payment for a new home and emergency fund, while the other half goes to fun and other life spending. Can you say driven? What’s more, they deployed a new approach to Black Friday this year, focusing on comparing prices before hitting aisles. Nice.