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52 Week Money Savings Challenge 2013 - Week 52

Posted by on Dec. 27, 2013 at 7:19 PM
  • 4 Replies

 First, I apologize for being gone for so long - my job went crazy over the last 2 months and I am finally coming back up for air.  I love my job but being the only 'staff' during the holidays AND year end deadlines makes me crazy....and tired!

SO - we have finished the challenge!  If you followed the challenge, you should have saved a total of $1,378.

I know some of us have struggled this year with different things and have less.  And some of us stuck to it and maybe even saved more.

Either way, all participants should feel good about themselves for taking part in this!

Please feel free to check in with your experience and let us know if you plan on trying this again next year.  Also, please share any tips that helped you save or any suggestions you might have for others to follow in their savings challenge.

I hope everyone had a fabulous holiday and wish you all a happy, safe & prosperous New Year!

ivf blessed
by on Dec. 27, 2013 at 7:19 PM
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Replies (1-4):
ivf_blessed
by Bronze Member on Dec. 27, 2013 at 7:31 PM
2 moms liked this

I did have to dip into my savings during the summer in order to set up a new home for my children and myself after separating from my husband.

I was still able to keep up with the challenge despite the need to use about $600 because I had saved the higher numbers earlier in the challenge when I had a higher flow of incoming cash available.

So, that would be one of my suggestions.  If you can, put more money away earlier in the year or whenever you happen to have some extra money, so you have a bigger savings sooner in the challenge.  This can help in 2 ways.  Like me, having to use some of my savings for big expenses, I was still able to resume the challenge at the "normal" amount because I only used the excess that I had saved in the challenge.  OR, if the end of the year is a tighter budget time for you (like most when it comes to the holidays), the higher amounts are already out of the way because you saved more earlier in the year.

I also suggest that, if you can, set up a separate savings account that you can deposit or, even better, automatically transfer money to, so that you don't have cash hanging around 'tempting you' to use. 

And finally, if this challenge still seems to be too much - do what my kids did!  Modify the challenge. 

Instead of saving $1 per week, they saved 10 cents per week and they were able to save an extra $137.80 this year!  Pretty darn amazing for a 6 & 9 year old!  You might want to save 50 cents per week and end up with $689.00.  Either way, anything saved is a WIN!

Thanks for putting up with my flakiness in posting all year!

I wish you all the very best in 2014! ♥

acrogodess
by on Dec. 28, 2013 at 4:39 AM
1 mom liked this
I did not participate in the challenge this year, but I think for 2014, I intend to participate and at least save over $600.
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sugapie0305
by Member on Dec. 28, 2013 at 2:29 PM
1 mom liked this

I was able to reach the goal for this year. I do plan to try again in 2014, but it may be a little harder since my main work at home job contract will be up in a few days. Money will be a bit tight, but I still plan to save what I can just to have a cushion.

Larisa72
by Member on Jan. 3, 2014 at 4:44 PM
1 mom liked this

Re-START!!!!

I used what I had saved to outfit DHs office so he could move his computer and desk out of our bedroom.  We've been here 8 years and he *finally* has his own space where he can go for peace and quiet, so it was worth it.

I am starting using tomorrow as my week 1 deposit date...Saturdays work best for me since it's after the errands and whatnot.  I have told DH I'm going to try this again, and he's really on board with it.  His only question was what I was saving the money for.  Told him, hadn't decided yet...vacation, emergency fund, paying for DSs school (online school)....not sure yet, I just want to make sure we can get the money put aside.....who knows...have been thinking about new direction to go with my crafting/sewing, and it may be that I use the money from 2014 to really get that off the ground.....we shall see, but tomorrow is the start for me...and I'm going to try working backwards because we tend to have a bit more at the start of the year than we do at the end....

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