Better than the 52 Week Challenge.

Okay so a lot of people have been talking about the 52 week challenge.  It is meant to help you save over $1000.00 by the end of the year.  The goal is whatever week you are on that is how many dollars you put in savings.  So week 5 would be $5.  In theory this is a good idea but what about week 40?  Can you be sure you can put $40 in savings and not touch it?  Do you have that much money to put away at one time?

I know that for me personally I will never just have $50 to put in at once.  I want to save money but I need a way that works in my budget.  So what should you do?  Dollar bills and change.  All week long set aside any $1 bills and change.  For my bills I just use an old #simplyorange juice bottle or put them in a separate  part of my wallet.  Then when you know you are going to the bank you take it with you and put it in your savings.  This is far less demanding than having to have a certain amount each week.  You barely notice that you are saving.

It is also less stressful.  This way you do not have a certain amount to save.  You save what you actually have.  You don't have to worry about catch up weeks if you miss one.  I once saved over $100 in one month just by doing this.  I was able to use it to pay a bill that I was running short on later.

I absolutely recommend this method.  If you can't do the $1 bills right away start with your change.  It really does add up.  You would be surprised at how much you can really save by just putting spare change aside.  My advice is to just try it for a couple months and see how it goes.  Do not keep it at home too long though.  You want to put it in some type of saving so it can earn some interest.  Even if it is not a ton earning some free money is always nice.  Then as the interest comes in you earn interest on that interest.

So give it a try.  What is the worst that will happen?  You will save money and have some extra in case something happens. Oh the horror of having extra cash.  Just kidding but really give it a try I bet you will be happy you did.

Happy New Year!

So it is 2015.  Hopefully you have learned a few tips to give you a great year.  I am really excited about this year.  I feel like I am going to get somewhere.  I feel like that My debt is going to be gone this year other than student loans.  Those are going to be the last things I tackle.  I will be using the many I get from saving so much to make the payment.  It will be refreshing to know that is the end of my debt.

I hope that you guys will have a great year and start to get ahead on your debt.  It is really a great feeling to get to keep some of that money you work so hard to make.  It is tiring to go to work every day and have nothing to show for it.  I will be so excited when I start getting paid and the money is actually mine to do as I wish not figure out who I can pay this week and who will have to wait until the next payday.  I get 3 pay checks this month and taxes are right around the corner.

The best thing about taxes is you can pay off something.  I don't care if it is the smallest bill you have, pay it off.  That will free up not only your money but it will help free you from stress.  Then you can concentrate on other bills.  I already know what I am doing with my taxes.  I have been planning it for months.  I know what I want to accomplish when I get my return.  I know what I need to do to get ahead.

You should sit down and make a list.  It doesn't matter if you don't know how much you are going to get.  You know what you need to pay off.  So put it in writing from most important to what you would like to pay off but can wait a minute.  The goal is to be ready so when that money gets there.  You will have a set plan.  Then you follow it.  That is all there is too it.  Now if between now and then something major happens you can adjust the list but the main thing is to be ready and have a plan.  The problem is that most people get so excited about getting them they start thinking about all the stuff they can buy.  They make these purchases but never take care of the old debt so then they have all this new stuff but still no money.  Not a good plan.  You just start regretting what you did and then you really can't enjoy the new stuff.

So I hope you will join me this year in making this year our best debt free year ever.  I hope that you will find your way to becoming debt free.  What ever works for you I hope you will use it and get to a comfortable relationship with your money.