52 Week Money Challenge

[DaChampIsHere]

This really is too much work IMO.

Why not just save $30 a check or set a percentage for direct deposit to put into a separate savings account?

This is what I'm thinking. Maybe it's supposed to make saving fun?

I'd rather just through however much into the account when the check comes. Probably would end up saving more anyway.

 

[Steve Piffler]

This really is too much work IMO.

Why not just save $30 a check or set a percentage for direct deposit to put into a separate savings account?

it's just extra on top of what you would be doing anyway. i have 3 different ways i save money. this will be a 4th, but just so i can stash away some end of year play money. no big deal...

 

[THASTUNNA]

I'm going to try this out. Propz. I already throw some of my check in savings, 401K and now this. fukk it. End of the year that 1,300 will come in handy

 

[awkwardblackgirl]

I think I'm going to try this on top of what I already plan to save.

 

[malbaker86]

i have 3 different ways i save money.

you mind speaking on this my brutha

 

[Ray Jesus]

that's like $3.80 a day.

 

[Kayla Fortenberry]

going to try it

 

[jerniebert]

Such a simple idea but so genius.

 

[AsAboveSoBelow]

I'm going to try this but to tell the truth I'm probably going to have to do this check-off style due to the fact that I work commission and some checks are better than others.

 

[PrnzHakeem]

it's just extra on top of what you would be doing anyway. i have 3 different ways i save money. this will be a 4th, but just so i can stash away some end of year play money. no big deal...

I guess I'm just too lazy to be calculating all that stuff.

Plus I seem to be in a rut where I have a revolving credit card debt of $3-$5K so it makes more financial sense to throw the dollars at the principal rather than save it.

 

[BlvdBrawler]

Not a bad idea to get people starting saving. That 2nd half of the year is where discipline comes in, tho. A lotta you nikkas won't make it.

 

[Steve Piffler]

you mind speaking on this my brutha

i stash 10% in my primary savings every pay period (direct debit from my check)
i stash $100 in my credit union account (direct debit from my check)
and if i'm carrying cash, any $1 bills that i accumulate along with any silver coins go into a 5 gallon water bottle in my closet. been doing this for about a year, and it's almost halfway full.

 

[BlvdBrawler]

i stash 10% in my primary savings every pay period (direct debit from my check)
i stash $100 in my credit union account (direct debit from my check)
and if i'm carrying cash, any $1 bills that i accumulate along with any silver coins go into a 5 gallon water bottle in my closet. been doing this for about a year, and it's almost halfway full.

at the bolded. I don't carry any cash but if I did, that'd be the way to go.

You should put that 10% into a brokerage acct instead of savings. I started doing that in Jan of last year and have gotten a 12% return in just the last year. That beats the shyt out of the 0.9% APY I get from my savings acct.

 

[jalamanta]

let's start with a deposit amount of $50

ain't nobody has 9 lives to save at the rate of $1,378 per year

 

[Fredrick Thuglas]

Not to sound condescending but I didn't think it was that hard to save money.

I think it is about how you spend money. I don't spend much on non-essential things. But its a balance, we need to spend on things that make us happy but just don't over do it.

But this is good for those that are breaking the bad habit of throwing away their money.