Monday, August 5, 2013

52 Week Money Challenge


I am taking this challenge. I am stoked to start and take on this cool way on saving money. It's not that I have a hard time saving money, if you read my previous posts, you would pretty much conclude that I am "addicted to saving".

I have a hard time spending on my few wants. I kind of live a pretty miserable life. I still even drag myself to that $3 dollar "cheat meal" every month. Yup, that's how kuripot I am! I want to change this habit of mine. Hey, I am saving 80-90 percent of my income and I deserve to reward myself with small wants but I.JUST.CAN'T.

So, I am taking this challenge. This is a fund I can spend without feeling guilty. This is a fund I can spend for myself no matter what I buy and not think about it or list it on my Daily Money Log. This is a "ME" fund!

To read more about this, click here. The idea of this challenge is to start saving $1 for Week 1, $2 for Week 2, $3 Week 3, $4 for Week 4 and so on, At the end of the 52 weeks, I will have $1,378!!! I am doing the challenge in  dollars coz I am earning in dollars but for my Filipino friends, you can certainly do it in peso. What if you start at PHP 10, at the end of the 52 weeks, you will have PHP 13,780. Cool, right? You can download a Do Your Best Challenge chart found at that website or you can write it down, just like what I did:

52 Week Money Challenge

Since I just started, I have a dollar inside and crash out the First Week of the challenge. 


I am so excited with this  pretty cool saving trick. I don't know if I can bring myself to spend this amount of money but perhaps , with this pool of fund, I would treat myself once in a while on my small wants.

I would update you guys.

Take the challenge with me!

6 comments:

  1. This is a great idea! Maybe I'll use my 52 week stash for a new trinket, or maybe add to our Project Tuscany Fund? The possibility of the reward at the end of the challenge excites me:p

    ReplyDelete
    Replies
    1. A great idea,right? And I thought I knew every saving tricks out there!

      I actually shared your "Project Tuscany" goal to my friend as an example that you should a have a name attach to your savings goal so you will get motivated to save and I found your "Project Tuscany" name clever! Good luck sa trip ninyo with your hubby!

      Delete
  2. I'm on my 21st week! I tweaked the money challenge. I started with P50 and instead of doubling the amount deposited per week, I add P50 per week. Now, I'm P11,550 richer. hehe. It's so fun to save! :)

    ReplyDelete
    Replies
    1. Yay! Good luck in your saving money journey! It's fun to save,right? But don't overdo it ha coz too much of something is bad:) hinay hinay Lang and let me know how it goes.

      Delete
  3. I first learned this in BudgetsAreSexy blog. Anyway, good luck on your 52 week money challenge. It's also best if you have a plan where you'll spend the money after the challenge. This will become your motivation.

    I tried that before and I failed because I didn't feel motivated. Perhaps, I'll try it again. :)

    ReplyDelete
    Replies
    1. I just knew about this saving trick two weeks ago and I thought this was a pretty cool trick, with compound interest and all, so I thought I'd give it a try.

      I don't have any idea what to buy pa but I thought through this fund, I can spend on my few wants coz I have been good with saving money. I feel so miserable not getting what I want though I save 80-90 percent of my income. I still feel guilty buying anything that isn't really a "need" . Hopefully, this fund is an antidote to my saving money addiction. Hopefully, I'd realized that I should give myself a break from saving and enjoy a small percentage of my income just for myself,thus, The ME FUND. :)

      Delete

I'd love to hear from you. I read and appreciate all comments. :)