Hey, I’m Justin Castleman and welcome again to the next installment of The Millionaire Project. If you don’t know what this is, here is the quick low down on my project. A very brief explanation of this is that I am keeping track of my expenses and my income and I’m making a video every week on Tuesdays until I become a millionaire. Yeah, I know it sounds crazy and it really is crazy. I don’t know why I did this, but I’m going to keep doing it.
Let me start off this week by saying you have a chance to win a $5 Amazon gift card. I have a couple of them and I will be doing a couple giveaways here in the next few videos or whatever. But all you have to do is comment down below, anything you’d like, such as where you’re from or what are you planning on saving up for. And then you have to be a subscriber. So I will pick a person at random and you have to have those two things: be subscribed and leave a comment below, and it’s that easy. I will be picking the winner at random this Sunday, so be sure to check your YouTube inbox for that and the winner will be announced on next week’s video, so be sure you stay in tune for that.
Alright, so let’s get down to this week’s income and expenses. My total income this week was for $52. I started working, but I haven’t gotten the first paycheck yet, so once I start getting paychecks, obviously that income will be a lot more. And my total expenses was $4765.83. So you’re probably thinking, what the hell did he spend $4700 on? Well let’s go through the expense list and let me show you. Most of that money came from paying off a loan of $4620.18. Now, I paid off my smallest loan and I paid the minimum balance for my next smallest loan. I got the debt snowball rolling there and I’m working on baby step 2. The next biggest expense was fuel this week. I started my job and drove around a little bit more. I went to orientation for my second job that is starting in August, so I spent $43 in fuel. This week I spent $29.11 for a new pair of shoes I had to have for work. They had to be non-slip, or slip-resistant shoes because I work back in a kitchen and it definitely gets very slippery back there, so I needed special shoes and I paid $29.11 for shoes. This week my cell phone happened to crap out on me and the screen stopped working, but luckily I was eligible for an upgrade. I go through AT&T and I had an upgrade this month so I got a phone for 99 cents, but I had to pay the activation fee, so I ended up paying $37.09 for a new phone. I’m good on the phone for a while. Luckily my dad pays my phone bill, so I don’t have any phone bill expenses, so that’s good. I spent $22.75 on groceries and food this week. That’s not bad. I paid $10 for my monthly fee for my gym membership. And my last expense was for $3.70 for a couple of items I sold on eBay, that was for shipping. I’m not able to gain access to that money yet. It’s on a PayPal account, but I have to have the account for so long before I can transfer the money to by bank account. That was all the expenses this week, now let’s go over my new totals.
My number one or highest loan is still $8897.62. And my second loan is $6498.03. So that is a total of $15345.65 that I still owe. And on the positive side, the cash on hand if you want to call it, I have $1995.66. So there is my very small income for this week and my expenses for this week. I paid off my smallest loan there and getting my debt snowball rolling, so I can use the minimum payment up to the next smallest loan. I have two loans out, gave you the numbers there. Other than that, I should be getting some more income, that number should be higher since I have a job now and getting some paychecks.
Like I said earlier, you have a chance to win a $5 Amazon gift card. It’s as easy as leaving a comment below and subscribing. Thanks again for watching and be sure to subscribe to follow me on my path to become a millionaire.