I’ve been sad about our savings account. We had built a great savings– then, we bought a house. 🙂 Good? yes! but I might or might not be a money hoarder… and while the savings was stacking up I was satisfied with our savings account. Now, I have to say–it’s pretty sad looking. Here is a screenshot from our actual savings account
$500 isn’t bad but we haven’t really been doing our best and have gotten lazy. I love challenges because It helps us see our true potential as smart money people. If we always stayed the same how would we get ahead in life? How would we know how far we could stretch ourselves?
So, I am challenging our family (and you!) to a 3 month savings challenge! This saving challenge is more than saving with coupons or getting a second job — this challenge is about challenging E.V.E.R.Y.T.H.I.N.G. Challenge how much you pay for your cell phone bill or as simple as looking into how much you are paying for your internet. Selling stuff that you haven’t used in 6 months– then stash all those savings into your savings account and leave it there.
- Stick to your budget. I’m not saying don’t live your life and not spend anything.. just be more cautious of what you are spending and and time you are under budget but that cash into your savings account.
- stick any extra money you receive into your savings account
- get creative and find ways to put more money into your savings account.
- look deep into your expenses and look for cash that you could be saving and stick it in your savings account. (late fees? can you live with a lessor internet bill? ..etc)
I will be reporting my savings as well! Head back here and see my progress and a couple of tricks I’ve got up my sleeve on how we are building our savings (I will post my progress every two weeks until May). At the end of the savings challenge we will see how much money we have all saved.
Will you join me in this savings challenge? If you feel comfortable, please share how much is in your savings account now! 🙂