FC Community

Discussion Boards => Off-Topic => Topic started by: jiuchan on January 04, 2014, 05:46:10 am

Title: 52 Week Money Challenge
Post by: jiuchan on January 04, 2014, 05:46:10 am
I'm not sure when this started, but I'm taking this Challenge. Anyone wanna give it a try?

(http://teachme2save.com/wp-content/uploads/2013/01/52-Week-Challenge-Week-2.jpg)
Title: Re: 52 Week Money Challenge
Post by: yikes77 on January 04, 2014, 07:14:00 am
I just save 10% of my pay into a savings account myself but hope you manage to stick to it!
Title: Re: 52 Week Money Challenge
Post by: PGS28 on January 04, 2014, 07:53:33 am
I heard about this on YouTube last year, I haven't participated but I think it's a great way to learn how to save.

I'm not sure when this started, but I'm taking this Challenge. Anyone wanna give it a try?

(http://teachme2save.com/wp-content/uploads/2013/01/52-Week-Challenge-Week-2.jpg)
Title: Re: 52 Week Money Challenge
Post by: PGS28 on January 04, 2014, 07:54:22 am
I've also become accustomed to depositing a certain amount of savings from each stream of income so I know what you mean.

I just save 10% of my pay into a savings account myself but hope you manage to stick to it!
Title: Re: 52 Week Money Challenge
Post by: Tresbn00 on January 04, 2014, 08:11:52 am
What a great concept!  I save every passive dollar that I make but to actually make a checklist and follow it makes it like fun...adds drive to the money saving game! This shows the true savings aspect of it but fails to show the interest that accumulates on top of wherever you put the money...provided that you put it into some sort of savings/investment instrument. I like to make investments outside of the straight wage pay that goes to my family and I am good at making a couple of bucks a day at sites like this. I have two kids both sitting with stagnant accounts so maybe I will aim to make money above and beyond what I am making now to put in their accounts. Yeah...count me in for the challenge! Thanks for the motivation!
Title: Re: 52 Week Money Challenge
Post by: o2bnocn on January 04, 2014, 12:38:26 pm
Sounds like a great way to save money!
Title: Re: 52 Week Money Challenge
Post by: lray3152 on January 04, 2014, 01:21:15 pm
That's pretty interesting, great way to save!
Title: Re: 52 Week Money Challenge
Post by: ricdsm on January 04, 2014, 01:30:39 pm
This is a really cool idea.
Title: Re: 52 Week Money Challenge
Post by: nyvettebeltran on January 04, 2014, 06:35:19 pm
yes I am very interested in this.
But I thought about doing it backwards so that way in the end ill feel like ive saved a lot by putting less because you put in one dollar
Title: Re: 52 Week Money Challenge
Post by: jorhea on January 04, 2014, 06:38:59 pm
It would be easier to do it backwards. Because otherwise during the toughest months of the year (holidays!) it would be harder to put in what you are suppose to. I also thought about just dividing the total amount you are suppose to have saved by the end of the year by 26 (I get paid bi-weekly) and putting the same amount away every payday.
Title: Re: 52 Week Money Challenge
Post by: jiuchan on January 04, 2014, 06:49:32 pm
Not a bad idea, I should try that once I get a better paying job. LOL! I get paid monthly so I can only put the total amount per month.

Especially if I can't come up with the amount for the week.

Title: Re: 52 Week Money Challenge
Post by: crisstar on January 04, 2014, 07:28:18 pm
I've heard of this concept before. This is a good way to save for emergency to keep around your house. :thumbsup:
Title: Re: 52 Week Money Challenge
Post by: sherryinutah on January 04, 2014, 10:50:41 pm
I like the idea of putting 10% of my income in a savings account each month.  I love knowing that I have money saved for something I might need in the future.  I'm able to see all my finances as I record everything on a free website called clearcheckbook.com. 

 :heart: 
Title: Re: 52 Week Money Challenge
Post by: Forp on January 04, 2014, 11:09:56 pm
I liked jorhea's idea better do it backwards...the reward is less and less money needed. Still I'd be sooooo tempted to spend it  :silly:
Title: Re: 52 Week Money Challenge
Post by: PGS28 on January 06, 2014, 11:31:30 am
That's an excellent idea!!

It would be easier to do it backwards. Because otherwise during the toughest months of the year (holidays!) it would be harder to put in what you are suppose to. I also thought about just dividing the total amount you are suppose to have saved by the end of the year by 26 (I get paid bi-weekly) and putting the same amount away every payday.
Title: Re: 52 Week Money Challenge
Post by: momdileo on January 07, 2014, 08:56:38 am
I can't wait to do that. I saw that on facebook and I printed it out. We have already started it. See you guys at the end.
Title: Re: 52 Week Money Challenge
Post by: dkanofsky on January 07, 2014, 11:26:50 am
Already started. This is a great idea.
Title: Re: 52 Week Money Challenge
Post by: jmc1982 on January 07, 2014, 05:06:56 pm
I'm also giving that a try! Tried it last year but didnt work out as planned
Title: Re: 52 Week Money Challenge
Post by: dancer139 on January 07, 2014, 06:38:32 pm
I would love to try it,,,,  but I  was on unemployment till last week,,,  and they stopped the extension so now I don't get anything.  i do try and put a few bucks back a week  but nothing like I should.
Title: Re: 52 Week Money Challenge
Post by: PGS28 on February 01, 2014, 12:00:22 pm
Why not? If you don't mind sharing  :) I already have a savings plan but maybe your errors can help those participating.

I'm also giving that a try! Tried it last year but didnt work out as planned
Title: Re: 52 Week Money Challenge
Post by: lguzman1 on February 01, 2014, 12:04:00 pm
Hum I like this idea too. Maybe I'll give it a try. Thanks
Title: Re: 52 Week Money Challenge
Post by: blondie71 on February 01, 2014, 12:46:02 pm
I'm not sure when this started, but I'm taking this Challenge. Anyone wanna give it a try?

(http://teachme2save.com/wp-content/uploads/2013/01/52-Week-Challenge-Week-2.jpg)
Where do you go to accept this challenge I would like to give it a try.  It sounds good and you never know that savings could come in handy.  So where do I go to accept this Challenge I have not seen it anywhere?
Title: Re: 52 Week Money Challenge
Post by: waterbearer94 on February 01, 2014, 12:53:27 pm
nope never heard of it
Title: Re: 52 Week Money Challenge
Post by: melissaotto1982 on February 01, 2014, 02:08:05 pm
I wish I could do it but dont think I could stick to it.
Title: Re: 52 Week Money Challenge
Post by: nannycoe1 on February 01, 2014, 02:34:54 pm
I started doing this the first of the year and it lasted 3 weeks before I had to steal the money back out of the jar. Maybe you will have better luck!
Title: Re: 52 Week Money Challenge
Post by: PGS28 on February 02, 2014, 05:44:29 am
It really does seem like as soon as you start saving an emergency comes up for close to that amount but I say keep making small sacrifices to try to keep saving anyway

I started doing this the first of the year and it lasted 3 weeks before I had to steal the money back out of the jar. Maybe you will have better luck!