52 Week Money Savings Challenge
Welcome to week 15 in our 52 Week Money Savings Challenge! Are you happy to have hit your first $100 milestone last week? I’m loving watching that number creep up higher and higher each week. Last week, we chatted about saving the splurge. This week, we’re going to talk about Auto Payments and how they can save us some money!
Saving Money with Auto Payments
Auto payments can be kind of scary. Having money come out of your account automatically when you live paycheck-to-paycheck, well, I find it intimidating and typically, we avoid auto payments. However, that being said, if you’re comfortable using auto pay, look over each of your bills or call the company to see if they offer a discount on when setting up auto payments. I know our car insurance gives a $7 discount each month if we use auto pay and I’ve had countless other companies state they give discounts when you sign up for auto pay. Now, $7 a month might not seem a lot but let’s do some math: $7 x 12 months = $84 yr. That’s almost $100 per year and if you add any other auto payment savings to that, it’s just going to add up.
Do you use auto pay for your bills? I’d love for you to share your experience in the comments below.
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I’m so glad to have you on this journey with me. I’m looking forward to each week and I hope these posts and the emails are not only helpful to you, but encouraging as well.
- If you are new and just now joining, subscribe to the weekly email and download your own copy of the 52 Week Money Savings Challenge printable. All current subscribers are entered into an Amazon drawing held at the end of the month.
- If you want to catch up on the reading of each week, go to our 52 Week Money Savings Challenge page and check out each week listed, as you’re able. Don’t worry about catching up on savings amounts unless you’re able to, just start with the current week and add extra if/as you’re able.
- Want to open an online bank account to help keep things separated? I personally use Capital One 360 and have for years. It takes a few days for transfers to complete if you’re using a local bank
Before we wrap up this week, I want to hear from you! 1) What are you most excited about in participating in this challenge? 2) What are your concerns or frustrations about setting money aside?
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