How many of you have heard of the 52 week money challenge?
You put $1 in for week one, $2 for week two, up until you get to $52 for week 52. By the end of the 52 week money challenge, you should have $1,378. I tried that a few years back and did not have good success. At the beginning of the challenge I did good, but then I got to the higher dollar amounts and failed miserably.
One of these years I will complete the 52 week money challenge, but this year, I am doing what I said in my post about my goals. I am setting a realistic goal. If I say I'm going to do the 52 week money challenge, but I already know I'm not going to succeed, why even do it. I need to be realistic.
So I present to you the 365 day penny challenge. The premise is similar to the 52 week money challenge, except here it's every day and is in pennies.
Day 1 you save .01¢, day 2 you save .02¢ until you get to day 365 where you save $3.65. Month one you will save a total of $5.59 and month twelve is the most you will save in one month at $108.50. The total you will have by the end of the year is $668.58.
Now there are several different ways you can track your progress. I thought about creating a cutesy little jar to put my money in, but since I did not have anything available to me at home, I decided to use what I have. Why spend money when the point is me trying to save money.
OPTION 1: I've created the below excel spreadsheet. There are two tabs to choose from. The first one shows you exactly what you should save each day. The second tab gives you the day of the month and a space for you to fill in what amount you saved that day. Who knows, maybe on the day you are supposed to save $1, you have $3. Save the $3, and get that higher amount out of the way.
OPTION 2: Use the HUB app. This is what I am doing. Dustin and I happened upon the HUB app one day. It is an app you and your family can download. You can then create lists and within each list task items. If I update the HUB app, Dustin gets a notification, and vice versa. To say we LOVE it is an understatement. It took me about 15 minutes to create the list called 365 Day Penny Challenge and then a single task item for every single day. When I put change in my jar, I mark that day off the list. So far I have 327 days left out of 365. So I am about a month ahead of schedule.
Below is a screen shot of the HUB app. The left picture shows all of our lists. As you can see, we have a lot of lists. We use this app for everything, and if we don't put something on the list, chances are we are going to forget about that item. Then the second picture is when you select a list. Within each list you can enter a task. I entered 365 tasks within this list. Every time I put change in my jar, I mark it off the list.
I am very excited about this little money challenge. This alone will help me gain momentum towards goal #6 of saving $2000 in 2017!
I will plan on doing a quarterly check-in for this challenge to hold myself accountable and all of you that are doing this along with me! We got this! Let's end the year with $668.58 in our pockets!
Hi there! I'm Kara, of taking KARA myself! I've dabbled in blogging off and on for a while now. Mostly off. But I'm trying to change that and make a dent in this side of the world wide web. Enjoy!