Money Saver Challenge Day 1: Determine Your Status & Your Goals

[Cafe Steph]

Welcome to Day 1 of the Money Saver Challenge!

Where do you stand financially right now and what do you want to achieve by spending less? Jot down your income and spending to get a clear picture of your current financial state. Write down your goals for the future and start thinking of ways to achieve those goals.

What do you spend most of your money on right now?
Is more going out than coming in?
Do you want to get out of debt?

One member who signs up for our Money Saver Challenge and replies to at least 5 of the 7 daily posts will win a $25 gift card!

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[erienne06]

Yes I do want to be debt free. No credit cards just student loans left. Most of our money goes to bills. Our biggest bill in the winter is our gas/water bill. Other seasons the biggest expense is gas for the car. We live paycheck to paycheck.

[kelly32]

The majority of our income goes to the household bills

i am currently unemployed so most definitely more money is going out than coming in, times have been tough since i lost my job 6 months ago but we've been squeaking by soo far.

My husband and I aren't currently in debt together, though I have debt that i brought into the marriage that i'm not sure anything short of a miracle could get me out of.

[johnny4ever]

Majority goes to Household Bills...I Plan a Weekly Grocery Budget plus Meal Planning helps.We rarely use Credit Cards.

[thefiregoddess]

Debt free. I want to attain a low interest mortgage with the goal of paying it off VERY early. 

Oh and yes, more goes out than in. Or doesnt happen.

I'm on disability. I make due, but it still stinks. :(  I signed my soul to student loans. :(

[michiganmom116]

What do you spend most of your money on right now?  Household bills, with electricity and insurance being the highest.
Is more going out than coming in?  No
Do you want to get out of debt?  sure would, although that is not near the highest bill.

[crystal626rose]

We currently are paying down our debts in payments bi-weekly....stupid emergency loans. Other than that we only have our household bills and extra curriculars for the kids. We are trying to incorporate more into or savings with a new budget.

[sevengirls77]

The most of our income goes to household bills ~ water, gas, food, insurance...etc

I would love to figure out how to make these less

[acrogodess]

I want us to be debt free. Right now our tax return will be used to pay off some back bills, move, and by an old used car.

Next yr we plan to pay off s/o's student loans in full since he owes less than me plus a couple of credit cards he owes and sprint.

Then the yr after that we will start on my loans which will take about 6 yrs to pay off in full. I really want to earn my masters degree in psychology.

[AlwaysMommy26]

I got out of credit debt three years ago, but now we are trying to get from under the student loans and mortage. Most of the money goes to the household bills with the only place to cut being money spent on credit cards this month. We are having a new baby in two weeks so I have been working on moving money around to pay for the new daycare expenses. Luckly I have been saving money since we found out and that plus the tax refund should pay for the baby for the next year. Otherwise it has been paycheck to paycheck

[SweetLuci]

 We spend most of insurance for houses and cars. Where we live on a barrier island is high risk. We're paying off improvements we made and for a new dock we just put in. More coming in than going out, so we are able to save.