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The Family Piggy Bank The Family Piggy Bank

52 Week Money Saving Challenge (Week 14 & 15)

Posted by on Apr. 9, 2013 at 7:42 AM
  • 11 Replies

Hi Everyone!

Sorry that I've been MIA....a week mixed with Spring Break (kids), House Hounting, Work (tax season - agh!) and Strep Throat (son) kept me from my computer last week!

You should have saved $120 by the end of this week!  Check in and let us know how you are doing and...

What are some of the things you do to teach your kids about money?

Have a great day!

 

by on Apr. 9, 2013 at 7:42 AM
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ivf_blessed
by Bronze Member on Apr. 9, 2013 at 7:46 AM

Hi all!

I have saved $458 so far.  Woot Woot!

I use a jar system to teach my kids about money.  They have to split any & all money they receive as follows:

10% Share (church or charity of their choice each month)

30% Spend (spent anyway they want - I try not to interfere in their decions here)

30% Save 1 (saving for a big item. e.g. American Girl Doll or big Lego Set)

30% Save 2 (deposited into their bank acct each month)

My kids have really saved a lot of money this way and in the beginning, they used to spend their money like crazy on junk...now they think about things harder before they decide to spend.  They are also participating in this challenge only they are saving $0.10 per week instead of $1 per week.  We move money from their spend jar to their Save 2 each week and by the end of the challenge, they will have saved an extra $137.80.

Have a great day everyone!

Larisa72
by Member on Apr. 9, 2013 at 9:18 PM

haven't checked what's in the till lately.  Today was crazy because DD was up at 3am getting sick, and I was the one to get up with her.....we were up for 30 minutes or so and then she went back to bed.  ALarm went off at 515 for DH, and I was up then to put DSs patch on him (adhd med), reminded DH that his glasses were in the car (he broke the nose piece off his current Rx glasses last night before bed), and told him that Bek was staying home because she was sick....DH ended up calling out of work to stay home and help me get things handled......got DS to karate, found the exact frame for DH and they replaced it for less than $40, picked up DS and got back home for lunch....ran out of energy so no baking cookies or brownies, no making homemade cleaners, nothing but sewing the 3rd color of flags, which is nice...I'm 1/3 done making the actual flags and I have some of them with the teachers' names on them.....

ivf_blessed
by Bronze Member on Apr. 10, 2013 at 11:41 AM

 

I ran out of energy just reading your post!!!  LOL

(((HUGS))) hope your DD is feeling better and that things 'slow down' on the crazy side so you can concentrate on those flags! 

Quoting Larisa72:

haven't checked what's in the till lately.  Today was crazy because DD was up at 3am getting sick, and I was the one to get up with her.....we were up for 30 minutes or so and then she went back to bed.  ALarm went off at 515 for DH, and I was up then to put DSs patch on him (adhd med), reminded DH that his glasses were in the car (he broke the nose piece off his current Rx glasses last night before bed), and told him that Bek was staying home because she was sick....DH ended up calling out of work to stay home and help me get things handled......got DS to karate, found the exact frame for DH and they replaced it for less than $40, picked up DS and got back home for lunch....ran out of energy so no baking cookies or brownies, no making homemade cleaners, nothing but sewing the 3rd color of flags, which is nice...I'm 1/3 done making the actual flags and I have some of them with the teachers' names on them.....


 

Larisa72
by Member on Apr. 10, 2013 at 4:05 PM
1 mom liked this

Thanks...she's back to feeling normal, so not sure if it was a bug or something she ate.....glasses are perfect according to DH.....flags are progressing - should get the check for supplies in tomorrow's mail....will get the larger check once all 28 sets are done.

Today I did some flags, 2 batches of cookies, and 3 out of 6 homemade, non-toxic cleaners....need to get the rest of the supplies for the other 3 (did window and glass cleaner, non-toxic bathroom cleaner, have the oranges and vinegar sitting in the closet for the citrus disinfectant, and scrubbing powder......my goal is to replace nearly all of our cleaners with non-toxic ones......add that to canning and growing my own foods...trying to make as much from scratch as possible.....and save money as I go along


Larisa72
by Member on Apr. 13, 2013 at 10:13 AM
1 mom liked this

oh, can't remember if I answered...when the kiddos do their chores (with 1 reminder or less) they get their allowance (my logic is that, when they have a real job, their boss isn't going to tell them every day what they need to do, so why should I, particularly since they are written out and posted on the cork board)....they have 3 banks - give, save, spend.  Once there's a decent amount in the save, it goes into the bank account that I set up for each of them....they will have access to that account when they turn 18, but not until then :-)  They are also learning more about saving and earning interest, etc.

AdriaD
by Member on Apr. 14, 2013 at 1:39 PM
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I was only able to begin this recently, so have just had 4 paychecks from which I could set money aside.  What I'm doing is adding together the week we're in with one of the weeks I missed.  So far that amounts to $66. 

baconbits
by Bronze Member on Apr. 15, 2013 at 1:58 PM

 I'm at $351. I paid the last 2 amounts already! I just know that there's no way I'll be able to come up with $200 in one month so I'm really trying to get the bigger ones as much as possible. Still holding out on the low ones. :)

Looks like they may be hit soon though. My dh may not be working much for the next few weeks so things will get tight again. Just when things were finally starting to ease up a little.  (Heavy sigh)

ivf_blessed
by Bronze Member on Apr. 15, 2013 at 6:55 PM

 

I'm sorry to hear that.  I hope your husband can back to working normal hours real fast!  Stay strong!

Quoting baconbits:

 I'm at $351. I paid the last 2 amounts already! I just know that there's no way I'll be able to come up with $200 in one month so I'm really trying to get the bigger ones as much as possible. Still holding out on the low ones. :)

Looks like they may be hit soon though. My dh may not be working much for the next few weeks so things will get tight again. Just when things were finally starting to ease up a little.  (Heavy sigh)


 

BeachLifeMama
by on Apr. 15, 2013 at 10:51 PM

Aw, I missed this challenge. Really want to do this, how can I start? 

ivf_blessed
by Bronze Member on Apr. 16, 2013 at 6:09 PM

 Welcome!  You can join in anytime.  Basically - the challenge is to save $1 for every week of the year.

E.g. Week 1 - $1, Week 2 - $2, etc.  By the end of the challenge (52 weeks) you will have saved a total of $1378.

We are now in Week 16, so everyone should add a minimum of $16 to their savings.

Since you are starting late, you might want to add a couple of weeks together until you catch up:

Maybe this week, save Week 16 & Week 1 - a total of $17.  And next week, save Week 17 & Week 2 - a total of $19.

Others (like me) are saving whatever they can when they have the money because, by the end of the year, we are having to put aside over $200/mo, which could prove difficult for some, especially during the holidays.  =0)

I've attached the blank chart for you.  Each week I mark off which week I am in and what $ amt I saved.  For example, this Week (Week 16), I saved $43 (Week 43).  So I crossed out 16 (under week) and crossed out $43 (under deposit amt, beside week 43).  I keep a running tally by Acct Balance - so, at Week 16, I have crossed out $136  (under acct balance) and written $501.

Hope I haven't confused you!  LOL  Maybe I can take a picture of mine and share that in my Week 16 Post.  =0)

Again, welcome to the challenge!


Quoting BeachLifeMama:

Aw, I missed this challenge. Really want to do this, how can I start? 


 

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