2016 Money Saving Challenge

The 2016 Money Saving Challenge

Christmas time is here…ok, well actually its over now, but let me ask you a question. Are you still reeling from guilt over how much you spent on Christmas? Maybe you are maybe you aren’t, but I think we can all agree that Christmas can be damn expensive. 2015 was the first year I didn’t fret as we were racking up the charges because I had secretly over-prepared us for the spending all year long. How you may ask? By taking part in a savings challenge.

I liked the idea of the 52 week savings challenge that basically had me putting away the same # of dollars for the week that we were in the year. So week 5 for example, required a $5 contribution. Week 35, a $35 contribution. This was a lot of fun! I know that sounds bizarre, but I love saving money! I especially love it when I can put away $2 in week two and know by the end of my challenge I will have saved $1,378!! My goal for this money was simple and straightforward: Christmas Money!

I have grown tired of putting off saving specifically for Christmas just to feel super guilty when we would pay for Christmas out of our main savings accounts. To me, that money was money I acted as if we didn’t even have. That is rainy day money. That is the car broke down money, the heater went out money, the kids broke a leg money…the list goes on, but it definitely was not spending an absurd amount on Christmas gifts money. (which I will blog about in another post shortly) So it pained me to pull it from there, which took a little bit of the magic out of Christmas for me, but this past Christmas was totally different.

I actually enjoyed the shopping process in 2015, and we actually spent less than we had in years past. Go figure. Spending money is very psychological. In years past, I was basically telling myself “no”, and if you know me at all, you know that I don’t take “no” for answer very well at all. This year, I had a budget of $1,378. Plenty of money to have a stellar Christmas, but what I found myself doing this year, was looking for quality gifts that would bring joy to the recipient. Years past were definitely more about quantity than quality. In my mind I was buying little things here and there and without even realizing it, I was spending way more $$$$ on “Chinese junk” as my husband refers to it. So this created two problems. First it created a hit to our savings account that I didn’t really care to see, and second it left us with a bunch of small broken toys that didn’t make it through Christmas dessert. Well, lesson learned my friends, and so 2016 will be yet another year we take on the money challenge! If you want to play, let me know! I’d love to be your weekly savings cheerleader and keep you motivated! Small changes add up to huge savings. ****Please note, we did not spend that much on Christmas and that budget was for everyone. (kids, parents, teachers, nieces, nephews, etc.) I say that I had a budget of that amount knowing that if I spent that much, I wouldn’t be out anything from our real savings account, but I wouldn’t say I ever had intentions of spending all of that.

Week No. Deposit Amount Total Balance
Week 1 $1.00 $1.00
Week 2 $2.00 $3.00
Week 3 $3.00 $6.00
Week 4 $4.00 $10.00
Week 5 $5.00 $15.00
Week 6 $6.00 $21.00
Week 7 $7.00 $28.00
Week 8 $8.00 $36.00
Week 9 $9.00 $45.00
Week 10 $10.00 $55.00
Week 11 $11.00 $66.00
Week 12 $12.00 $78.00
Week 13 $13.00 $91.00
Week 14 $14.00 $105.00
Week 15 $15.00 $120.00
Week 16 $16.00 $136.00
Week 17 $17.00 $153.00
Week 18 $18.00 $171.00
Week 19 $19.00 $190.00
Week 20 $20.00 $210.00
Week 21 $21.00 $231.00
Week 22 $22.00 $253.00
Week 23 $23.00 $276.00
Week 24 $24.00 $300.00
Week 25 $25.00 $325.00
Week 26 $26.00 $351.00
Week 27 $27.00 $378.00
Week 28 $28.00 $406.00
Week 29 $29.00 $435.00
Week 30 $30.00 $465.00
Week 31 $31.00 $496.00
Week 32 $32.00 $528.00
Week 33 $33.00 $561.00
Week 34 $34.00 $595.00
Week 35 $35.00 $630.00
Week 36 $36.00 $666.00
Week 37 $37.00 $703.00
Week 38 $38.00 $741.00
Week 39 $39.00 $780.00
Week 40 $40.00 $820.00
Week 41 $41.00 $861.00
Week 42 $42.00 $903.00
Week 43 $43.00 $946.00
Week 44 $44.00 $990.00
Week 45 $45.00 $1,035.00
Week 46 $46.00 $1,081.00
Week 47 $47.00 $1,128.00
Week 48 $48.00 $1,176.00
Week 49 $49.00 $1,225.00
Week 50 $50.00 $1,275.00
Week 51 $51.00 $1,326.00
Week 52 $52.00 $1,378.00

 

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