Happy New Year everyone! I’m not a huge “new years resolutions” kinda gal, but I do like to enter the new year with a financial plan to tackle over the next 12 months. This year will definitely be challenging for my husband and I as I’ll be staying home to take care of our little one and our income will be much less than what we’ve been used to.
To help us stay on track and still manage to save some money as opposed to spending every penny we earn, I’ll be looking into a savings challenge that we can both get behind. Just go to Pinterest and type in “SAVINGS CHALLENGE” and you’ll see so many different ways that people save money throughout the year.
Each of these challenges requires that you save a predetermined amount of money each week and at the end of the challenge you’ll have x amount of dollars. I think it’d be fun to incorporate one of these challenges into our financial plan and kind of make a game out of it. Right now I’m leaning towards the “Save $1,000 in 3 months” challenge. You basically set aside $77 a week and at the end of the 3 months, you have $1,001. If we were to do this all year, we’d have a good $4,000 saved that we could use for a nice vacation or a much-needed house project.
Have any of you guys stuck to and completed any of these savings challenges? Would love to know!