52-Week Savings Challenge

[SpaceGirl]

How is everyone doing ?

I have completed the Challenge early, but decided to keep going until the end of the year.

 

[Marionnette]

How is everyone doing ?

I have completed the Challenge early, but decided to keep going until the end of the year.

Just out of curiosity, did you do the Challenge as it was originally written ($1 the first week, then $2 the following, etc.) or did you modify it in some manner?

As I stated earlier, I much prefer a consistent savings plan. I was putting $25/week into my own savings until my older son graduated from college last May. Then I took the $25/week that I was adding to his "stupid fund" and added it to my savings instead. I have put an additional $1450 into that account (plus interest) since Jan. 1 of this year. I have no intention of stopping when the year is over. Saving in this manner just makes more sense to me. It was painless and I never really missed the spending money or stressed out over how I was going to meet my self-imposed goal for the week.

 

[nowellsl]

I finished early, but I combined weeks several times. I couldn't see transferring just $1. I enjoyed the challenge, but will probably just continue on with my regular saving.... I may up the amount because I didn't really miss the extra going out!

 

[melissalee]

I've been doing good. I'm ahead by a few weeks. Just got paid so I will pull out more money to put aside. I got $950 saved. Trying to finish up early because this is Christmas shopping money for me.

 

[BernardandMissBianca]

I'm up to date. Planning to use it for Christmas presents for the kids and DH.
Getting ready to plan for next year already.

 

[lauradis]

Just out of curiosity, did you do the Challenge as it was originally written ($1 the first week, then $2 the following, etc.) or did you modify it in some manner?

As I stated earlier, I much prefer a consistent savings plan. I was putting $25/week into my own savings until my older son graduated from college last May. Then I took the $25/week that I was adding to his "stupid fund" and added it to my savings instead. I have put an additional $1450 into that account (plus interest) since Jan. 1 of this year. I have no intention of stopping when the year is over. Saving in this manner just makes more sense to me. It was painless and I never really missed the spending money or stressed out over how I was going to meet my self-imposed goal for the week.

I like the normal way too. Some old habits die hard.

need x to get x in x long that is x a month or week. simple painless.

 

[cousinbb]

I'm still doing it! I have had to cheat here and there but I am still doing the challenge!

 

[IBelieveInTheMagic]

I haven't missed a week so far Like others mentioned, I have my regular automatic savings set up and this 52 week challenge was done for "fun".

As a reminder, I was one that cut each week into strips and each Wednesday my DS pulls a strip. This way - it's fun and exciting and not predictable.

I plan on doing it the same way next year, again, just for fun although it will be put towards our Norway/Iceland cruise next year.

Keep it up everyone

Heather

 

[SpaceGirl]

Just out of curiosity, did you do the Challenge as it was originally written ($1 the first week, then $2 the following, etc.) or did you modify it in some manner?

As I stated earlier, I much prefer a consistent savings plan. I was putting $25/week into my own savings until my older son graduated from college last May. Then I took the $25/week that I was adding to his "stupid fund" and added it to my savings instead. I have put an additional $1450 into that account (plus interest) since Jan. 1 of this year. I have no intention of stopping when the year is over. Saving in this manner just makes more sense to me. It was painless and I never really missed the spending money or stressed out over how I was going to meet my self-imposed goal for the week.

Well as I have completed the 52 week challenge in week 41...I didn't follow the challenge as it was originally written.

I did make a chart with the date/week/amount to save/total...from there especially in the early weeks I paid ahead...and checked off each week as the total amount for that week had been saved.

This wasn't/isn't my regular savings or even an emergency fund, like others have posted this was just for fun. I just wanted to do it (but with a mission) to see how much I could tuck back over the year without missing it. This will just go toward something I want but not necessarily need or maybe a gift that someone else wants or needs.

This is a great way for others whom may have never been able to save before to start, it shows you how even saving a little will add up over time.

GOOD LUCK to everyone...

IBelieveInTheMagic you're going to LOVE Norway we visited last year and loved every minute.

 

[dreamin_disney]

I got side tracked and stopped doing the challenge consistently . I have two 52 weeks going on.

1st challenge- I have $45 to go

2nd Challenge-I have $1151 to go

I think I can complete both challenge by Dec 31 atleast I'm gonna try

 

[taymorel]

I have been consistent with the plan and am so glad I did this. I am going to use the money for Christmas presents.

 

[dreamin_disney]

I have been consistent with the plan and am so glad I did this. I am going to use the money for Christmas presents.

that great

I don't know what I'm going to do because I just want to save save save it!! Lol! Atleast one of them

 

[Snoozan]

Just checking in to say I'm down to two weeks on my challenge! I just picked random amounts most weeks - whatever odd amount I could come up with without missing the $. I'm just putting this $ away, as well as another challenge for 2015 for a 2016 WDW trip with my DS & his family. Between Disney rewards and the challenge $, I shouldn't have to come up with too much out of pocket.

Hope you all are on track to finishing up your challenge!

 

[dreamin_disney]

I was doing two 52 week challenges but so far have only completed 1. I was putting mine into my xmas fund so that I couldn't dip into it-lol!. Nov.2nd they send out checks from xmas fund so I got my check

now the 2nd challenge I think I only have $312 so my plan is ....
to payoff creditcard blances that I have , then put in what I can into the 2nd challenge which hopefully will be $400-$500 hopefully


the $$ from the first challenge went into a new savings account I got that I can link to my main checking account. In order to have the free savings acct without $6 monthly fee I have to have $25 automatically transferred once a month from checking account to saving account to avoid those fees.
So
$25 a month will go towards 2015 ......52 week challenge. I'm so addicted to saving money now

 

[IBelieveInTheMagic]

Still going strong and will definitely be doing my "random strips" next year again.

Keep up the great work everyone!

Heather

 

[Marionnette]

Congratulations to everyone who has completed or is near the completion of their challenge. It's not my way of saving money, but if it inspired people to start a savings program, then it can't be all that bad.

To those who were discouraged and quit, I hope that you find another method to start saving. Even if it's a slow and stead approach of putting $5 a week into an account automatically, it is still a start. $5 per week adds up to $260 in a year's time and that's a couple of nice meals at Disney or a good start on your holiday shopping.

Good job everyone, and good luck with net year's savings!

 

[Aryn]

I am still in and current! We are saving to go to Europe. We will be doing this again, it really worked and was mostly painless.

 

[AlohaNow]

Congratulations to all who have completed the challenge or who are nearing the end! I'm so happy to read of everyone's success!

I had considered doing this for 2014 but needed to get regular savings on track first. And we have, in a big way! So I plan to do this for 2015 just for the challenge. I love the idea of having the kids pick one slip a week for some random amount so that is what I think we'll do. We will track it separately in our ING/Cap One account. We are in the early planning stages of a spring 2016 trip to Europe so hope to save a bunch extra in a painless way. Thanks to all you guys for the ideas! Love me some Budget Board!

 

[BernardandMissBianca]

Had to borrow about $400 out of it but that will go back in next pay day.
We are using this for Christmas, trying to keep the spending under control.

 

[dreamin_disney]

Well I tried doing two 52 week challenges but only completed one :/

2nd one I only saved like $300-$400 so that will go towards my vacation fund and the full one I saved I want to save in my account for maybe DD's graduation my wish is to be able to take her to Hawaii but see how things go.

Next year I'm going to try again to do two challenges