Today's Focus

Current Goal: Automate Savings and Mortgage Paydown

1) Extra $1,100/mo. to mortgage
2) $1,000/mo. to short-term savings
3) $400/mo. to investing

Previous Goal: Eliminate Mortgage on Rental Property
Interest Rate is 5.125%!

January 1, 2019: $59,592
August 11, 2020: PAID!

Search My Frugal Miser

Tuesday, May 3

Vehicles and the True Cost of Ownership: How Much is My Car Really Costing Me?

I drove more miles in my Pontiac G5 last month and in the first two days of May. I forgot to check the odometer while I was visiting Omaha so I've included the mileage from my drive home in my calculation for April.

I determined that each mile I drive costs me $.0867 in depreciation. In April I drove 4,448 miles. My vehicle depreciation expense was $385.64.

My 2009 car now has over 60,000 miles on it, and I am valuing it at $7,781.62 in Quickbooks, which I think is reasonably accurate.

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