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Correct! Let's Move On!

Setting a monthly transfer: $300 per month — This answer illustrates basic goal math: $2,400 needed over 8 months requires 2400 ÷ 8 = $300 per month. The clarity of this calculation helps you program automatic transfers so the plan succeeds without ongoing decision-making. When you set up the transfer, align it with your pay schedule — if you’re paid biweekly, you could set two $150 transfers per pay period or one $300 monthly transfer timed right after payday to reduce overdraft risk. Automating removes friction and leverages the principle of “paying yourself first,” which increases completion likelihood. Additionally, make sure the target amount ($2,400) reflects realistic moving costs in your area (deposits, movers, truck rental, supplies) and include a small buffer if uncertain.

Practical automation and contingency — Use a dedicated named savings account for the moving fund to prevent accidental spending. If your budget is tight, consider incremental changes: cut a small discretionary expense, sell unused items, or temporarily reduce entertainment spending to free up $300/month. If you receive a bonus or tax refund, decide whether to accelerate the fund (one-time boost) or keep smaller monthly installments to preserve cash flow. Lastly, set a calendar reminder to review the plan halfway through the saving period; if you’re behind, evaluate modest course corrections rather than panicking.

Did You Also Know...

By Quiz Coins

APR reports interest without compounding, while APY includes compounding — so APY will usually look larger.

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