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I went into the bank to cash in some rolled coins and the teller told me that a man had recently come in with a suitcase of 2 year's worth of spare change. The total was $1600. It really did add up for him!
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Although this was started as a challenge from the owner of this site, you can do your own chalenge to yourself. It's just easier when someone else puts out a challenge. I just started on my own around late November of one year and deposited my first $20.00 in December. I didn't wait for the new year. I started mine with change found around the house and deposited it into an ING account.My challenge to myself was to get at least $20. into the account each month. It could come from doing surveys, coupons, pennies savied, money found on the street, rebates, or even checks from credit card rewards. You can do by using your skills as in sewing, gardening, etc.Comment
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This is my 3rd year in a row. I saved over $20,000 each of the first two years. This year I might not be able to save that much in the challenge, but I enjoy trying!Comment
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Well I was never a coupon user before, but I think it is important to do this. If you use a coupon or a store card, it will tell at the bottom of the receipt how much you saved on that purchase. I take that actual cash (in dollars) and physically add it to my challenge money. This is not just on paper, but the real cash goes into my cash box.
I never did that before! It is amazing to me how much it adds up.Comment
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If you look at the dollar savings on the coupons or storecards, it will not actually tell you how much you saved in all cases. You have to first decide whether you would have bought the item at all, without coupon or storecard. Then you have to figure out what the generic would have cost, or making from scratch. If I compare the cost to generic, or not buying it all all on my club card, I may be saving some money, but not at all what my receipt says.Comment
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I totally agree with what lrjohson said. A buy 1 get one free can be a little deceiving because you have to pay the regular price for the one and I have seen the price higher on just the one. It's hard to see what you would calculate. I would say that if you didn't substract the coupon money out before to save it - that would be a new way with the challenge. Money sitting in drawers, pockets, etc doesn't earn anything.
My first $20 came from going around the house and finding money I had put to the side. I also had coupon money. I also collect pennies and roll them. It is making me more aware to what I'm doing with my money and how much I lose to complacency.Comment
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Walt Pennsyl: I could have wriltten your post. This is exactly how I started my $20. challenge. It really doesn't take much to find $20 in the house.
The real pay-off for BOGO FRee items is to use a coupon. Some stores will except 2 coupons.
I've also had savings that the dollar savings on the bottom of the receipt doesn't show. I have bought meat or fish (perfectly good) that has been marked down. Our seafood department sometimes has an abundance of some items and needs to get rid of them. I also buy items in the store that have been marked down that won't show on the receipt.Comment
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How long ago did this start?Comment
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