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Peainapod
Peanuts are here!
Member since 1/09 13591 total posts
Name:
Diana
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52 week money challenge
I mentioned this in the xmas bills thread. I followed the alternative of doing 26.50 a week which is the average.
For me it was easier to handle and you see results a little quicker, so the motivation to save becomes greater. I would throw in extra Money Challenge
Message edited 12/27/2015 9:58:23 PM.
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Posted 12/27/15 9:53 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
PhyllisNJoe
My Box Is Broken
Member since 6/11 9145 total posts
Name:
Phyllis
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Re: 52 week money challenge
My husband and I did it this year. We both did, so we ended up with double.
We already agreed, 2016 will be putting $25 per week away each (wanted to make it easy so stuck w $25)
Money challenge was great u til those weeks of 40+ per week each. Especially during that time of hosting holidays and buying Christmas gifts - it wasn't as easy to put that $$ aside lol. So changing it to $25 per week, should be a lot easier to handle.
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| Posted 12/27/15 10:40 PM |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: 52 week money challenge
LOVED this plan!!! We followed it all year, throwing in extra money here and there and it was SO easy to save money for Xmas!! By December we had about $1600+ in our Xmas account. It's awesome finishing up Xmas with no bills or debt.
I opened a few Capital One 360 accounts online, all totally free, and transferred money into a dedicated Xmas savings account all year. When it was time to do my Xmas shopping I transferred the Xmas savings into a dedicated checking account (also Cap One 360) and used my debit card for every, single holiday purchase.
I already started my Xmas savings for next year!!!! 
ETA - What I did for the larger deposits was to make them in the months where we had an extra paycheck, worked well for us. 
Message edited 12/27/2015 11:07:54 PM.
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| Posted 12/27/15 11:03 PM |
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klingklang77
kraftwerk!
Member since 7/06 11489 total posts
Name:
Völlig losgelöst
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Re: 52 week money challenge
I did this once, but in reverse. By the time December rolls around, you are only putting a few dollars in.
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| Posted 12/28/15 3:18 AM |
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Peainapod
Peanuts are here!
Member since 1/09 13591 total posts
Name:
Diana
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Re: 52 week money challenge
Posted by Hofstra26
LOVED this plan!!! We followed it all year, throwing in extra money here and there and it was SO easy to save money for Xmas!! By December we had about $1600+ in our Xmas account. It's awesome finishing up Xmas with no bills or debt.
I opened a few Capital One 360 accounts online, all totally free, and transferred money into a dedicated Xmas savings account all year. When it was time to do my Xmas shopping I transferred the Xmas savings into a dedicated checking account (also Cap One 360) and used my debit card for every, single holiday purchase.
I already started my Xmas savings for next year!!!!
ETA - What I did for the larger deposits was to make them in the months where we had an extra paycheck, worked well for us.
Thats exactly what I do. I have a cap one 360 checking and sub savings accounts. every week money is transferred for things like oil, vacation, life insurance, car insurance..big quarterly bills. So the xmas fund is there too. and im never wondering how I'll come up with money for the big house bills again.
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| Posted 12/28/15 9:12 AM |
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Kitten1929
LIF Adult
Member since 1/13 6040 total posts
Name:
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Re: 52 week money challenge
I do this as well. Sometimes I vary the amount but it definitely helps!
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| Posted 12/28/15 9:24 AM |
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shaleywhale
LIF Adolescent
Member since 12/09 537 total posts
Name:
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Re: 52 week money challenge
Posted by klingklang77
I did this once, but in reverse. By the time December rolls around, you are only putting a few dollars in.
This is how we do it, too. It's a lot easier for us to start out strong at the beginning of the year when we are all geared up to "start the new year off right", lol... then by the time the holidays roll around and we are lagging, we only have to put in a couple of dollars - which seems much more doable to us at that point. 
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| Posted 12/28/15 9:54 AM |
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Re: 52 week money challenge
I would love to do this too but there is just no extra money to squeeze from anyplace to do it.
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| Posted 12/28/15 10:23 AM |
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