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SavingSteve's 52 Week Challenge Thread

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  • SavingSteve
    replied
    It's week 4 and I saved $5.

    Leave a comment:


  • SavingSteve
    replied
    For week 3 I only saved $2.
    Still getting caught up with holiday expenses and work is gaining momentum.
    It always feels like it takes the entire month of January for things to get going.

    Leave a comment:


  • SavingSteve
    replied
    It's week 2 and I only saved $4. But work will pick up now and I'm looking forward to bigger numbers.

    Leave a comment:


  • SavingSteve
    replied
    Hi everyone. I thought about abandoning this thread but why not keep it going?

    For the 1st week of 2017 the paycheck was small so I only saved $3. Looking forward to a bigger number next week.

    Leave a comment:


  • SavingSteve
    replied
    It's the last week of the year and I saved $1

    That completes the 52 week challenge for 2016! I didn't miss a single week and counted down from 52. One thing I noticed is that using the challenge sheet encourages an active approach and forming a savings habit. After a while I started to just schedule the transfers into my savings account and I kind of forgot about the sheet. Then I would go back and cross off the boxes. While the finance guru's recommend automating your savings, I think the manual way is better for developing a habit of saving. That IS kind of the point of the sheet right?

    Next year I've decided to do the challenge again, but instead of automating it like I did this year, I am going to automate a new Roth IRA to supplement my employer 401K. I will max it out and dollar cost average the deposits throughout the year. This is a better type of thing to automate since all of the deposits will be the same dollar amount. I can set it and forget it.

    To continue nurturing my habitual savings mind set I am going to do the challenge again with the same dollar amounts, but manually make the deposits.

    Happy New Year!

    Leave a comment:


  • SavingSteve
    replied
    Happy Holidays everyone!

    Today it's week 51 and I saved $2 for the challenge.
    But I also put an extra $200 in my EF since there was a surplus in my paycheck.

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  • james.hendrickson
    replied
    bumppity bump bump!

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  • SavingSteve
    replied
    Today for week 50 I saved $3

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  • SavingSteve
    replied
    Its now week 49 and I saved $4.

    Only 3 more weeks in the year!

    Leave a comment:


  • james.hendrickson
    replied
    Good for you savings steve!

    Leave a comment:


  • scfr
    replied
    Originally posted by SavingSteve View Post
    Today is week 44 and I saved $7.

    The last CC balance is now $0

    Since it was a BT I have been successful in not paying any finance charges on CC in 2016!
    This is a big deal - Belated congratulations to you.

    Leave a comment:


  • SavingSteve
    replied
    Yesterday for week 46 I saved $5

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  • SavingSteve
    replied
    It's is week 45 and I saved $6.
    Happy Thanksgiving!

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  • SavingSteve
    replied
    Today is week 44 and I saved $7.

    The last CC balance is now $0

    Since it was a BT I have been successful in not paying any finance charges on CC in 2016!

    Leave a comment:


  • james.hendrickson
    replied
    Steve man - great job.

    Leave a comment:

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