Home > Archive: February, 2012

Archive for February, 2012

It's a Challenge to Focus on the $20 Challenge

February 16th, 2012 at 06:42 pm

I had so many great ideas to challenge myself previously to focus on small wins (small savings). But I've fallen off the wagon on every idea!!

My automatic savings allotments are still working for me. So that's a good thing. I just haven't done the extra focus work of saving wherever I can and then translating that savings into an actual DEPOSIT in my savings account.

Too much stress at work. You would think that would motivate me to do everything I can possibly do to get my own financial buy-out package together!! But instead it has me momentarily exhausted and unfocused.

My intention is to add a lot of little wins to my name for 2012 to add up to a big win eventually.

Reading over savingadvice helps a lot. Motivated!!

Anyhoo, here's the streamlined $20 Challenge plan for this year:

I normally use cash envelopes for some of my budget categories like groceries and household items. That allowance is about $100 per week for groceries and $25 for household items. I get cash to cover 2 weeks because I get paid every too weeks.
Since I'm using more coupons, I'll challenge myself to keep track and set aside any savings I have leftover in my envelopes in these 2 categories at the end of the 2-week period (in particular dollar bills and coins, but all savings are welcome, of course). Half of the leftover money will be loaded on a reloadable giftcard for the grocery store I shop (or other store like Walmart. That will give me a little cushion when I need it.) The other half will go into my wealth account.

Ta da!! Now I just need to stick to it. Happy saving everyone!