My boss found out about my plans for the Mustang. She suggested I convert my earned time into cash. About every November we get that opportunity. I thanked her for the great idea, didn’t occur to me.
The money would just sit in my savings for a down payment. If I was ever out sick I’d still have the money to use just like I would normally to pay bills.
If I took all of it, it would be about $1400 after taxes. Between the time I take it out and when I actually transact money for the car, I’d build up another 4 to 6 days worth of ET, which isn’t a lot, but would be something.
Essentially I get a day off for every 2 weeks I work. The only bad part is by the time I pay for the car, I would only have about 5 days of ET. My goal all along would be to have a month’s worth to cover bills. Right now it’s at 3.25 week’s worth.
I have to hold some money back when I buy the car so I can cover registration, etc. Probably I’d hold back enough to cover being out of work a week beyond whatever I have accrued at that time.
Anyway, that money will be helpful to some degree.
I sent her the “Alcatraz” clip of the car in action. Turns out she watches the show and actually saw that episode!