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30 Day Money Saving Challenge: Save $100 in One Month with Quarters

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30 day money saving challenge
Now that the new year is underway, people across the country are striving to make their resolutions a reality. If your goal is to increase your emergency savings (or even start your first emergency savings account), a quick money challenge can be an excellent option. While popular approaches like the 52-Week and 365-Day challenges are great choices, they do require a full year commitment. If you want to start with something shorter, this 30-day money saving challenge might be right for you.

How to Save $100 in a 30 Days

If you want to start slow or simply have a need for a quick $100, you can painlessly get the money you need with a 30-day quarter challenge. This approach is great for individuals who are living paycheck to paycheck, as the daily deposits never exceed $7.50.

On day one, deposit $0.25 in your savings account, the value of one quarter. Then, on day two, you deposit two quarters instead of one, making your deposit into your savings account $0.50 and bringing your balance up to $0.75.

As you proceed with the challenge, you just add $0.25, or one quarter, to the deposit amount from the previous day. On day 10, your deposit will be $2.50. On day 20, you’ll reach $5.00. Finally, your day 30 deposit is only $7.50.

You can also remember the amount by recognizing that the number of quarters you deposit matches the day of the challenge. For example, on day 10, you would deposit 10 quarters, which have a value of $2.50.

At the end of the challenge, you’ll have $116.25 in your account. Plus, if you put the money in a high-yield savings account, you might even earn a little bit of interest too.

If you would rather do the challenge in cash, you can place the appropriate number of quarters into a jar at home instead. However, you won’t earn any interest this way, and you might have to wrap up your change in rolls before depositing it into a savings account.

Want to Save $500 in 30 Days Instead?

If you want to challenge yourself, and pull together almost $500 instead of $100, then use dollars instead of quarters. On day one, deposit $1.00. Then, deposit $2.00 on day two, $3.00 on day three, and so on until you finish the 30 days.

At the end of a 30-day dollar challenge, you’ll have $465 in the bank. Plus, your largest deposit is just $30, the cost of a single fast food meal for many families of four.

Benefits of the 30-Day Money Saving Challenge

While the biggest benefit of completing the 30-day challenge is increasing the balance in your savings account, you also get more out of it than that. Along the way, you are setting good savings habits, helping you create a solid financial cushion in case of an emergency.

Plus, there is nothing to say that you have to stop after 30 days. You could always keep going, increasing your deposit by $0.25 each day until you reach a particular savings goal or hit the end of the year. Alternatively, if you are living paycheck to paycheck, you can start over each month, using the date to guide the size of your deposit. That way, your largest daily deposit never exceeds $7.75, making it much more manageable for anyone with a tight budget.

Consider Money Saving Apps

A great way to supplement your savings is the automated approach with an application like digit.co

Simply sign up and let the program analyze your checking account. The app will then make automated withdrawals which don’t impact your spending and sweeps them to an account you control. It is a super easy way to save money without a lot of effort. Click here to check it out.

In either case, you are creating an easy way to bolster your savings, ensuring that you have a health emergency fund in place at all times.

Do you have a tip for saving $100 a month? Share it in the comments below.

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30 day money saving challenge

How to Decorate a Flat on a Budget

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Needless to say, shifting to a new flat is a stressful experience. After spending thousands on household essentials such as tables and couches, the most daunting task ahead of you is thinking how you will make the new place feel and look homely. Contrary to what you might think, decorating your new flat doesn’t need to be costly. Here are 11 awesome ways to cheaply decorate your new flat. For even more savings, consider purchasing a gift card for a home decor store like HomeGoods in December. Many stores offer discounted or even free gift cards during the holiday season!

1. Purchase Removable Decals and Wallpaper

Permanent wallpaper can be intimidating since removing it from walls is difficult. If you are a homeowner or renter who is into interior design, removable wallpaper offers a suitable solution for adding a splash of personal style and color to your house. Removable wallpaper easily sticks to walls, and is also easy to remove when moving out.

2. Build a DIY Bar Cart

Bar carts are fun design elements for your house. Nonetheless, they can be extremely expensive. Buying a cheap bar cart at the local hardware store or flea market is a good idea. You will save even more money if you choose to build a bar cart yourself. DIY bar carts similarly allow you to design them to match your personal tastes through the addition of decorative elements that appeal most to you. If you are willing to wait, you can save big by purchasing all of your tools and hardware in November.

3. Add a Decorative Mirror or Two

Floor length mirrors can make your rooms appear bigger than they really are. With a mirror or two, your rooms will also look more open. If you live in a tiny flat, position the mirrors strategically so that they reflect windows and optimally capture light. This will add dimension to your rooms. Floor length mirrors are available at affordable prices in most flea markets.

4. Repaint Old Furniture

Old furniture pieces whose coating has peeled off make your rooms appear dull. Rather than dumping your furniture to buy new stuff, consider repainting it. This will not only restore their look but also enhance their longevity.

5. Creatively Hide Storage

Clutter makes your house to look smaller and more congested than it really is. You should consider getting rid of unnecessary accessories, books, magazines, and room accessories and instead purchase furniture that does double the work. This may include storage ottomans and chests. Another great option is the placement of certain furniture including tables, cabinets, and chairs at an angle in one corner of your rooms so that a built-in space can be created for hiding extra stuff.

6. Update Lampshades

With continued use, lampshades tend to look dated. As a result, they need to be regularly replaced with new and clean ones. To save money, you should maintain your original lamp bases and only buy new shades that add a pop of graphic pattern and color to your space.

7. Change Hardware on Furniture and Door Handles

Newer door knobs and drawer handles can help transform the appearance of old furniture. Rather than replacing an old door, you should consider repainting it and replacing its knobs. This will restore their previous high-end look as well as save you money that you would have otherwise spent on costly replacements.

8. Swap Out Current Ceiling Features

Chances are that the ceiling lamp at your house has been in use for over 20 years. You shouldn’t allow such eyesores to ruin your home décor. Instead, swap them for modern lighting options. This seemingly small change will have an amazing impact on the appearance of your space.

9. Mask Tattered Countertops Using Stickers

The same way that removable wallpaper can be used to cover walls, tile stickers are designed to cover grungy countertops by adding colorful patterns. These stickers are held onto place by an adhesive, but nonetheless, they are easy to remove. Countertop and tile stickers are incredibly affordable.

10. Design Your Own Artwork

When purchasing artwork for their homes, most people window shop at flea markets or vintage stores until they find something that they admire. Nonetheless, the easiest way to get something that you will fall in love with is designing it yourself. Pre-stretched canvases sell for as little as $20, while brushes and paint are also available at local craft stores. To design your artwork, look for inspiration online and based your creation on that.

11. Get a Plant

This is one of the easiest hacks for those who want to decorate their houses. Plants will automatically add life to your room. Even so, they need to be properly maintained so that they keep looking nice. To ensure that the plant adds color to your room, pair it with an eye-catching bowl or pot. To choose pots and bowls for your plants, visit farmers’ markets in your locality to sample the flora options that are on offer.

Get Organized: A Bullet Journal Tracker Can Change Your Life

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Bullet journal tracker

Staying focused is key to reaching your goals, whether they be financial goals, career goals, or otherwise. Many people search for the right organization technique to stay on track and be productive. In more recent years, the bullet journal tracker has gained popularity in helping individuals focus and make their dreams come true.

What is a Bullet Journal?

Bullet journals, or BuJo for short, were created by Ryder Carroll. Carroll was a digital product designer and author living in Brooklyn. As a child, he was diagnosed with learning disabilities and needed to find different ways to find his focus and be productive. For him, a bullet journal did the trick. After experiencing how a bullet journal changed his life, he decided he would help others by sharing his ideas.

Now bullet journals have evolved into many different ways to track progress, plan events, and even organize finances. The best part of using a journal this way is you can make it anything you want it to be.

How to Use a Bullet Journal Tracker

First, you’ll need to buy a journal and decide what you’ll be tracking. Of course, every page in your journal can have a different project focus. However, you may want to dedicate entire journals to track specific things (i.e., finance journal, weight loss journal, etc.).

Next, create an index for your bullet journal. This will be where you log what is on each page, so it’s easier to find the page you want to work on. Then you’ll decide what you want to track first.

Some individuals organize their bullet journal by goals. For instance, if you want to drink 100 ounces of water every day, you’d color in or otherwise mark the days you met this goal.

You can also use a bullet journal tracker for your bills, debt, or savings. To do this, draw charts to track your progress toward meeting each goal.

Other things you might consider tracking in a bullet journal include a deep-cleaning schedule, a daily gratitude list, your daily mood, fitness goals, food and water, and even books you’d like to read throughout the year.

Where to Find Free BuJo Page Ideas

Bullet journal tracker

For the most part, bullet journals are a product of your own imagination. You can put whatever you dream up to track and follow on the page. There aren’t any printable pages for your bullet journal. However, there are plenty of places on the web to discover inspiration for your bullet journal tracker.

  1. Pinterest: Pinterest is by far the best place to look for bullet journal inspiration on the internet. No matter what you are looking to track in your journal, Pinterest probably has an innovative way for you to organize it. Simply search “bullet journal tracker for personal finance” or whatever you’re looking to track in the Pinterest search bar, and you’ll find hundreds of ideas.
  2. The Habit Journal: You can also buy a bullet journal tracker that comes with already-made pages. These are typically a bit more expensive to buy but can help you organize your journal if you are having difficulty thinking of page decoration.
  3. Online forums: On top of Pinterest, there are also a number of online forums centered around bullet journaling. If you’re looking for ways to organize a specific project or goal, you can always reach out to one of these communities for ideas.

Organization and focus are both important in reaching your goals. For some people, a bullet journal tracker helps them see progress and outline a good route to get where they want to be.

Readers, have you ever used a bullet journal? What did you use it to track? 

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Can Setting a 2019 Budget Save Your Relationship?

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2019 budget

There is always a huge influx of unsolicited advice when you enter the new year (or a new relationship). Fifty-three percent of Americans making resolutions for 2019 are focusing on their personal finances. The first step to improving your finances is setting a budget and, believe it or not, it may have a positive benefit on your relationship as well.

How a Budget Can Save Your Marriage

Talking about your finances can have a huge impact on your relationship. In fact, for 100 percent of marriages money is a necessity every day. Reviewing your finances, learning how to create a budget, and making sure you have enough money, are all key to having a successful relationship.

Having both parties involved in your budget will increase accountability, and it will force you to work together on something. Budgeting can also be humbling and provides some sense of accomplishment, all while cutting down the number of surprises you encounter when it comes to money.

Any type of financial strain can (and will) put additional stress on your relationship. So, how do you start the discussion?

Budgeting for 2019

As you’re wrapping up 2018, you may be looking for ways to improve your marriage or relationship in the new year. Sitting down and talking about your finances is a great way to get started. An estimated 70 percent of couples fight about their finances. The talking points below may help you ease into the discussion and get a better grasp on the finances in your home.

  1. Start budgeting for regular expenses (i.e., taxes, bills, etc.). Go over what your budget is going to look like month-to-month. Doing this can give you both a good idea of how much you’ll be able to save as well as a good snapshot of where your money is going.
  2. Budget large one-time expenses. If you’re planning a vacation, a wedding, or some other big expense, plan for it before the new year starts. You’ll want to budget out your savings for the event.
  3. Find something you can trim from your budget. Sit down together and find something you can save money on together. This will make you both feel accomplished and it will make you both feel like you are contributing to your finances. Not only that but you can take the cash and put it into savings.
  4. Talk about debt. If you and your significant other hold any debt, you need to talk about it and establish a way to pay it down (or off completely). Paying off your debt will make all of your other finances fall into place so much easier.
  5. Discuss your long-term goals. What kind of vision do you have for your lives in the next 12 months? Where do you want to be this time next year? What about this time five years from now? Be sure every change you are making lines up with your financial goals.

Minimizing the amount you fight about finances in the new year will free up plenty of time to focus on what is most important: each other.

Readers, do you go over your budget with your significant other? How has it impacted your relationship? 

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22% of Americans Say They Are Scaling Back Holiday Spending This Year

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All in all, Americans are planning to cut back on holiday spending this year. About 50% of Americans say they’ll be spending the same amount they did last year, while 22% say they plan to spend less. Of that 22 %, about 34% say that other expenses are taking priority over buying gifts and other holiday-related purchases. Ten percent of Americans say they don’t plan on spending anything at all this holiday season.

People Aren’t Saving for Christmas

The COUNTRY Financial Security Index® took a survey weeks before Christmas to see how most Americans are feeling about their finances at this time of year. What they found is most people don’t feel all that financially secure heading into the holiday season. In fact, the survey found that only 23% of people are saving throughout the year for holiday spending. That’s right – less than a quarter are financially prepared for the holidays.

Doyle Williams, Executive Vice President of COUNTRY Financial said, “We shouldn’t let the magic of the season get us carried away into overspending and making financial decisions we will regret come January. Take simple steps to create a realistic holiday budget that accounts for all of those holiday expenses such as gifts, travel, decorations and entertaining. Then, start fresh in the new year with a savings plan to alleviate some of the financial burden in 2019.”

What is interesting is that millennials are the most likely to plan ahead to be able to afford additional holiday expenses. A surprising 31% of people ages 18-34 save throughout the year for Christmas. Twenty-five percent of millennials planned to work more hours to lessen the financial burden of the holiday season. Another 9% got an extra job to cover holiday spending, 14% sell personal items, and about 8% accept money from family/friends to help.

Other Holiday Spending Stats

About 70% of Americans say their largest holiday expenditure will be on gifts. Other major costs like entertaining and travel expenses will only account for 9% and 8% of spending, respectively.

Of the Americans headed out shopping this season, 70% have a specific budget in place. However, 20% say they don’t have a budget amount in mind. About 39% plan to spend less than $250 or no more than $500, while 17% of Americans plan to spend more than $1,000 during the holiday season.

Budgeting and spending statistics vary by income level and age. The older you are, the more likely you are to spend more around the holidays. Folks ages 65+ plan to spend around $1,129 each. Younger Americans, between the ages of 18 and 34, plan to spend much less ($585). People with an income sitting around $75,000 and above also plan to spend around $1,082 while individuals with an income falling between $50,000 and $74,000 plan to spend $757 or less.

Unsurprisingly, people with kids are more likely to spend more as well. Thirty-four percent of Americans are planning to spend most of their holiday budget on their kids. Women are most likely to say they will spend most of their holiday budget on their kids, while men are more likely to say they are spending the bulk of their Christmas cash on their significant other.

Family members will account for another 19% of spending, significant others (16%), grandkids (13%), friends (3%), and pets (1%). Although many people are in the “treat yourself” mentality during the holiday season, only 7% of Americans will spend the most on themselves.

Holiday Reminder

It is always a good idea to have a holiday budget in mind to keep your finances on track throughout the season. It is important to remember that it isn’t important how big or expensive the gift you give is. What is most important is the thought you put into it.

Consider saving money throughout the year for large holidays and other major expenses. You should also set up a budget and write a list for each present you intend to buy. Don’t go into debt or break the bank celebrating Christmas!

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5 Things to Stop Buying to Save Money

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things to stop buying to save money

Are you looking for new ways to cut expenses? Here are some things to stop buying to save money, and how it can really add up.

5 Things to Stop Buying to Save Money

Sure, we all know we spend a little too much on lattes and buying lunch instead of making it and bringing it from home. However, there are probably lots of other things we spend money on that we don’t even realize is a waste.

Branded Grocery Items That Are the Same As Generic

Generic grocery items once had a bad reputation of being poor quality groceries. In the past, you only bought store brand or generic groceries if you absolutely had to and if you were willing to feed your family subpar food. However, over the years, shoppers have learned that many generic/store brands are just as good as branded items, and for the most part, are usually significantly cheaper. For example, if you check our Costco price list for Kirkland diapers, cost about $0.15 per diaper versus Huggies, which cost about $0.20 per diaper. Plus, remember this comparison is at Costco, where prices are already lower than other grocery stores.

Savings >$100/month: This will depend on your grocery bill, but because the difference between store brand and name brand groceries is almost 50 percent, you could save $100 or more. That’s half of your grocery bill that can now go into your savings account.

Bathroom Cleaner, Kitchen Cleaner, Soap, and Other Cleaning Products

Very few of us like cleaning anyway, so why not just quit and put the money you’d spend on various scrubbing solutions and cleansers into your savings account?

Well, not really. We can’t just stop cleaning. However, you could save some money if you make your cleaning products instead of buying them. Plus, a lot of the cleaning products on the market consist of harmful chemicals you probably don’t want in your house anyway. We have a list of cleaning product recipes you can use instead.

Savings >$10/month: This might not seem like an enormous chunk of change but it could add up to a couple of hundred dollars per year. Just make sure you use products you already have at home to save even more.

things to stop buying to save money

Fast Fashion – More Jeans, Socks, Sweaters, and Other Clothing

Did you know that we buy and get rid of so much clothing that it’s becoming an environmental crisis? Sure, you probably donate and sell your old clothes when you’ve outgrown them or just gotten tired of them. However, a lot of that clothing is ending up in landfills because there just isn’t anything else to do with it.

Instead of buying new clothes, rework what you have. Before you buy another 6-pack of socks that are on sale, think about whether or not you actually need six more pairs of socks – even if they are super cheap.

Savings >$150/month: The average adult spends about $150 per month on clothing. This isn’t even counting what you might spend on your children as well. Put this money in your savings account and also help the environment a little in the meantime.

You Don’t Have to Buy Everything Organic

Many people buy organic food because of the peace of mind you get from eating something that is cleaner and healthier. However, some organic products aren’t cleaner or healthier, and just cost you nearly 50 percent more than the alternatives. Some of the foods you can buy non-organic include:

  • Onions
  • Pineapple
  • Avocado
  • Cabbage
  • Melons

You might notice many of the safer non-organic products have some kind of outer covering that protects it from harmful pesticides and chemicals. This is why you’re generally safe buying non-organic.

Savings >$50/month: The savings amount varies according to your grocery bill, but adding this with the change to generic products can add at least $150 per month to your savings account.

Personal Checks – Try Online Bill Payment and Banking Instead

Because of mobile payment options, online banking and payment processors like Venmo and Paypal, consumers have found themselves writing fewer and fewer paper checks. Even if you do still depend on checks to make your payments, consider making the change to save some extra money. Considering encryption technologies recent growth, online payments are now as secure as offline payment options. With the chance that payment checks will be completely obsolete in the future anyway, with some speculating as early as 2021.

Savings >$10-$25: The cost of personal checks varies according to the bank or company where you buy them. They generally cost about $10 to $25 for a book of 100-200. If you make the transition to online bill payment and banking instead of buying checks twice per year, it can be an additional $20-$50 to your savings account.

Bottom Line

In order to save more money, you’ll need to take a serious look at your budget to figure out where exactly your money is going. Things like generic grocery items, personal paper checks, and cleaning products are extra expenses you might not have realized you don’t need to buy. Once you evaluate, you’ll likely find a lot of other things you can stop buying to save money.

What have you stopped buying to save money? Share with us in the comments below.

stop buying these to save money, saving money tips, saving money

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