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52 Week Money Saving Challenge (Week 19)

Posted by on May. 7, 2013 at 8:55 PM
  • 3 Replies

Hello everyone!

We are in Week 19 of the challenge.  If you are following the chart (below) you should have saved at least $190 by the end of this week.

Check in and let us know how you are doing and...

Do you have a separate emergency fund set aside?  Dave Ramsey says that everyone should have a Baby Emergency Fund of $1000 if they are in debt and if you are not in debt (other than a mortgage) that you should have a minimum of 2-3 months saved as an Emergency Fund.  Either amount can seem daunting when every penny counts in your household budget but it a really great piece of advice to follow.  The Savings Challenge is a great start to an emergency fund!

Good luck and have a great week!

by on May. 7, 2013 at 8:55 PM
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ivf_blessed
by Bronze Member on May. 7, 2013 at 9:15 PM

Hi everyone!

Well, I just survived an audit by our compliance folks at work today and......passed with flying colors!  This was the first year my branch went 'electronic' so I was very nervous about how we did this past year.  Boy was I happy to hear how greatly organized our branch is!

Sooooo, back to our challenge.  This is my "low cash on hand week" so I set aside $7 and am now up to $556 saved for the year so far.  The kids are up to $19.10 saved for the year (10 cents per week).

I do have an emergency savings set up and I also follow youneedabudget.com and have budgeted my income to always be used a month ahead for bills...in other words, my May bills are being paid by my March paycheck and my April paycheck is budgeted for my June bills (I am paid once a month).  Finding DR and YNAB really helped me get my finances in order!

Hope everyone has a fantastic week!

sugapie0305
by Member on May. 8, 2013 at 12:03 PM
2 moms liked this

I haven't checked in for a bit, but I am still going. I am trying to do my main savings account to build up an emergency fund with this challenge. My other side "piggy bank" I'm keeping up to date with the current weeks.

This week I was able to put a little more into my savings account from what I got paid from my freelancing writing job. That was a good feeling since for about a month, I was only able to put in half of what I have been doing each week. Hopefully I'll play catch up soon with that.

Everyone have a great week and keep saving! =)

Larisa72
by Member on May. 10, 2013 at 4:36 PM
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Definitely below what I should have as I've been using the 1s from my till to give DH money for lunch at work....but I JUST finished all the flags for the school and that will be $756 and change that I get, so that's pretty freaking awesome...will put most of that into the till and use some to pay for a summer class for DS....have to get all the paperwork taken care of and submitted ASAP for next year - already turned in his grades for 7th grade and gotten them approved as showing successful progress (well duh, all As and 1 B...sheesh)....so, time to clean up the flag nylon and straighten up my room, get some etsy listings taken care of and do some sewing for me and the family

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