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 would update you guys.
Take the challenge with me!
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
ReplyDeleteA great idea,right? And I thought I knew every saving tricks out there!
DeleteI 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!
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! :)
ReplyDeleteYay! 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.
DeleteI 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.
ReplyDeleteI tried that before and I failed because I didn't feel motivated. Perhaps, I'll try it again. :)
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.
DeleteI 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. :)