52 Week Money Savings Challenge
It’s week 2 of our 52 Week Money Savings Challenge! Did you remember to set aside your first deposit? Last week I opened a new savings account within our existing Capital One 360 account that will be dedicated to just this challenge. If you’re still deciding what to do with your weekly deposits, setting up an online savings with Capital One 360 is simple. We have personally been with them since 2004 and have been very happy using them along with our normal local bank.
The Money Jar
This week is still a really easy week with just setting aside $2 so let’s discuss one way that you can start preparing for the more difficult weeks of the challenge… starting a money jar.
The Money Jar
If you use cash at all, you know you’ll have extra coin and possibly extra $1 bills floating around. Now would be a good time to dedicate a jar, tin or some other container with a lid and start collecting those coin and/or bills.
Purpose that you won’t use that money unless you really need it and save it until the more difficult weeks of the challenge. If you make it through the whole challenge without needing it, add it to your final deposit and you’ll have that much more in savings!
Starting the money jar now will give you plenty of time to build up a reserve to help in the coming weeks and months.
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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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