The $5000 Saving Challenge

[jeffrey]

Re: The $5000 Saving Challenge

How do you join in the challenge?

You just start. Put aside $20 (or whatever you want to start off with) and begin posting your ideas and what you have done in this area. Simple as that.

[niki_the_tiger]

Re: The $5000 Saving Challenge

Ok, thank you! Maybe I will start tomorrow as I will be going shopping. I know I will not get anywhere near $5000 but if I even got a hundred that would be great hehe!

[jeffrey]

Re: The $5000 Saving Challenge

That is the main point...to try and earn a bit of extra money that you might no have done otherwise. The $5000 came from the challenge Nate gave to me, but I think it's a bit intimidating to some so I will have to think of a better name for future challenges.

[niki_the_tiger]

Re: The $5000 Saving Challenge

I think it would be a great challenge for a year, just a bit intimidating for the end of this year. Maybe start over again at $20 in January 2006?

[jeffrey]

Re: The $5000 Saving Challenge

This first one has worked fairly well. I would have liked to see more participants, but it's something new and it was left wide open for each person to interpret as they wished. I think with a lot of people reading, it will encourage more people to try next time (I hope). I would also like to incoporate ideas along the way to help people reach the goal - just send something out once a week or so and each participant could choose whether the wanted to do it. That is a time factor for me, but by next year I may have the time to set something like that up, too.

[tuscan minoque]

Re: The $5000 Saving Challenge

The 20 dollars a side songs good,but 5000 by the end of the year mmm,I don't think so.But I guess the mean factor is to learn to save a bit,for every little saved can be a big thing later.Thanks for your advice I gonna think little more about the challenge.

[jeffrey]

Re: The $5000 Saving Challenge

The 20 dollars a side songs good,but 5000 by the end of the year mmm,I don't think so.But I guess the mean factor is to learn to save a bit,for every little saved can be a big thing later.Thanks for your advice I gonna think little more about the challenge.

The more that I do the challenge and read what others are doing in their challenges, the more convinced that anyone can supplement their income if they are willing to act on their ideas. I think that is what the challenge is all about.

[akaivyleaf]

Re: The $5000 Saving Challenge

Couldn't agree more Jeffrey. Apply myself is the key. The more I work at it, the more I believe the goal could be obtained. I see now that I'm a lot more lazy than I thought, but this challenge is helping me to change that perception.

[CJsoccerchic]

Re: The $5000 Saving Challenge

Jeffrey - with what you are doing on ebay, did you ever see yourself doing as well as you are now?? Without too much, you have been able to turn $20 into $1000. Does that amaze you?

[newnikki]

Re: The $5000 Saving Challenge

Ok I am a bit late for this but I am thinking its great and when I have time I may do it on my own. I have no time now as I am working 70 hours a week! UGH Here was my thought though I have previously been the manager of a cleaning co and some of cleaning companies start very small and do very well rather quickly. To start a cleaning co all you really need is some cleaning products, so if I took 20 and bought windex and paper towels and a few things I would need to start out I could clean to make money. Now eventually i will run out of product so i will have to reinvest....this is ok right? i mean the reinvesting part i think i understand the concept but thought i would ask and throw it out for those FEW that may love cleaning windows LOL

[jeffrey]

Re: The $5000 Saving Challenge

i will have to reinvest....this is ok right? i mean the reinvesting part i think i understand the concept but thought i would ask and throw it out for those FEW that may love cleaning windows LOL

That's exactly the sort of thing the challenge is trying to promote

[jeffrey]

Re: The $5000 Saving Challenge

Jeffrey - with what you are doing on ebay, did you ever see yourself doing as well as you are now?? Without too much, you have been able to turn $20 into $1000. Does that amaze you?

Sorry, I missed this question previously in my rounds. It's a great feeling, especially knowing I wouldn't have done it if not for the challenge. I know there are a lot of opportunities out there if people take the time to try to do them and that is what we wanted to promote. Especially since making extra money is often the forgotten child of saving money.