{Week 9 Update} 52 Week Challenge

Published on February 28, 2014April 4, 2014 by Danielle YB VasonLeave a comment

Hello Lovelies! It is Friday, which means it is time to contribute to your 52 Week Savings. Since restarting my Bingo Style version of the official money challenge back in January, I have saved a total of $242.00 that have been applied toward my credit card principal. I seriously cannot stress just how easy this process is. I revealed early last year that my credit card balance was up to $5300.00 and paying a little over the minimum + the 52 Bingo Style, I have gotten my balance down to $1899.00. August 1st, my goal date for a zero balance, is right around the corner and things are starting to really pick up!

Do you want a copy of my Bingo Style Money Sheet? Email Me!

Happy Saving!

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{Throwback Thursday} The Best of SheMakesCents.com!

Published on February 27, 2014 by Danielle YB VasonLeave a comment

Every Thursday, social media is flooded with the hashtag #tbt (Throwback Thursday) as people take a moment to reflect on their past and how far they have come. In celebration of this weekly milestone, I would like to invite you on a journey to the beginning. This Saturday, March 1st will mark the 3 year Blogiversary for She Makes Cents and I wanted to share some of my favorite posts of the past. Happy Throwback Thursday Lovelies!

Happy Throwback Thursday!

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{Week 8} 52 Week Money Challenge

Published on February 21, 2014 by Danielle YB Vason2 Comments

Hello lovelies. It’s week eight of my 52 Week Challenge and so far I have saved $190.00. While that may not sound like much, especially over the course of eight weeks, it will still add up to over $1300.00 even before I up the ante with the bonus boxes I added to my Bingo style sheet. Since announcing my bingo style, I have been flooded by emails from people who are joining the challenge in hopes to save a little extra money to buy a car, pay down debt, save for a wedding, and finally take that vacation they always wanted. What makes this challenge unique is I don’t even miss the money I put aside since it has been so easy to keep up. Every Friday I pick a box and use that money to help me pay off my credit card. My goal is to have a zero balance by August 1st of this year!

What are you saving for?

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She Makes Cents Ranks on 10 Best Financial Blogs for Women

Published on January 16, 2014March 7, 2017 by Danielle YB Vason7 Comments

bc-1 January 16, 2014

I can’t think of a more fitting time to start my SMC Journal than today. Yesterday, I received a surprising email from a representative from BadCredit.org, a site created to help Americans with subpar credit find the information and resources they need to make successful credit decisions. The email was to inform me that SheMakesCents.com was named one of 10 Best Finance Blogs for Women. It’s so exciting to know that people out there in cyberspace are actually reading MY blog and visiting MY site. I hope that any recognition from being included on this list opens doors for the site so that I can continue to inspire YOU, the reader. The fab life doesn’t have to come at a hefty price tag. It’s especially fulfilling to know that I have awesome readers out there who not only share their own stories with me, but readers who are willing to join me on my own journey toward financial freedom.

xoxo, Danielle

{Financial Cents} How Accepting A Challenge Has Saved Me $849.00

Published on September 20, 2013September 20, 2013 by Danielle YB Vason4 Comments

Week 38 Update

She Makes Cents- 52 Week Money Challenge Bingo Remix — Week 3

In January, something called the 52 Week Money Challenge was spreading through the internet like wildfire. The challenge is to save the dollar amount that corresponds to the number of weeks of the year. For example on week 1 you deposit $1.00 and on week 27 you deposit $27.00 and so on. About three weeks in, I was already falling behind, partly because I tried to do it in reverse so I wouldn’t have to come out-of-pocket with higher “payments” during the holidays. I thought to myself, how can you find a way to honor the challenge in a way that will not hurt me financially? My answer- create a “bingo” style format. Seriously, this was the best thing for me and from the feedback I got, many of you as well. On weeks where my money is tight, I could choose a lower amount to add to savings and on weeks where I have a little financial cushion (like pay day, for instance) I choose a higher amount to save. At the end of the year, I will still end up saving $1378.00, just like the original version.
I find this challenge very rewarding. It makes me proud of myself because I am using it to pay down my credit card debt faster. I have even allotted a portion of the $1378.00 for holiday shopping, which can get us all into serious financial troubles if we are not properly prepared. If you are still doing the challenge, kudos to you. You have now formed a great habit and probably no longer see this as a challenge, but as a way of life. For those of you just starting out or interested in trying again, it’s never too late to get on financial track. I set a reminder on my phone so that I can remember to do it EVERY Friday. Since creating the bingo style challenge, I have applied an extra $849.00 toward lowering my debt.

Which Style Works Better for You?

Bingo or Classic?

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{Financial Cents} Is Your Way of Thinking Making You Poor?

Published on March 28, 2013January 26, 2022 by Danielle YB Vason4 Comments

Just as slaves born into slavery can’t visualize freedom, we Americans don’t know what it would be like to wake up to NO debt.
–Dave Ramsey, Total Money Makeover

Your alarm clock sounds, alerting you that a new day has come. You awake to find yourself owning a car without a car payment, a home without a mortgage, an education without student loans, and credit card(s) with a zero balance. How did you get to this financial freedom? Did you a) win the lottery, b) rob a bank Sugar & Spice style, or c) align your behaviors with your long-term financial goals? Well, the answer to the question depends on whom you ask.

I told a friend of mine that I was working to become debt free and she looked me right in my face and laughed. I mean laughed to the point of tears while telling me how unrealistic I was being. “Everyone has debt”, she alleged. If this were her outlook on financial freedom, I would guess that she could imagine a debt free life comes only as a result of a windfall. She will either rob the bank or win the lottery. I, however, understand how even the most minute sacrifices will help me get closer to my financial goals. I have to think beyond the day-to-day and month-to-month if I want to build generational wealth. Financial expert, Dave Ramsey adds, “We have been sold debt with such repetition […] that it’s hard for people to imagine what it would be like to have no payments”. Debt shouldn’t be the normal status quo and I am not comfortable adopting that mind-set. When the day comes when I wake up with no mortgage, no student loans, and no credit card balance, I know it will be a result of my financial plan and my commitment to it.

Is Debt Normal? Share Your Thoughts…

{Financial Cents} 4 Smart Ways to Spend Your Tax Refund

Published on February 20, 2013February 4, 2016 by Danielle YB Vason2 Comments

Have you ever gotten your tax refund and thought to yourself, it’s time to go shopping? I have. Growing up, my mom would take a large part of her refund and she and I would go on a shopping spree…even if it meant driving from mall to mall to find a wider selection or hanging out on a school night. That is how I grew up thinking about refund checks… like some sort of magical windfall of new shoes, purses, and dresses. Now fast forward to the present, I now know it’s better to try to break even than to get a fat refund. In reality, if you are receiving a large refund then you are paying too much in taxes throughout the year.

Divide and Conquer Your Money

If you are like me and you know you will be getting a refund of some sort, it is important to find a better way to spend your money than blowing it on a new tv or handbag. Before you even receive your refund, you should already have an idea of what you may be getting back. Take this time to divide your money, so when you actually received it, you will be less likely to blow it recklessly because you have already decided where it is going. For some, this will take some serious financial discipline, but in the end, it’s worth it! I plan to make my money work for me by using these four categories below to get me started.

Fund your funds. If you don’t have an emergency fund of at least $1000, now is the time to start paying yourself. You should think of this fund like those Chinese finger traps that kids used to pay with- it’s easy to put stuff in and difficult to take things out! If you already have at least a $1000 Emergency fund, then you should take a percentage of your refund and put aside for your savings account.
Pay Down Debt. This is the time to give your “snowball” effect an extra boost. Putting a portion of your refund toward your debt with the lowest APR (annual percentage rate) or lowest balance will help you pay get out of debt faster and feel good about your accomplishments. Remember, you don’t have to have thousands of dollars all at once to start getting out of debt. Every payment above the minimum helps you get closer to your goal.
Take Care of Things You Have Been Putting Off. If you have been meaning to call the plumber over to fix that leak you can’t find (raises hands) or get the brakes on your car checked out (raises hands) or even get the shoes with that weird heel repaired (raises hands) then take this time and money to do it. These are things that people put off because they don’t have the money or time. You now have the money, so make the time.
Prioritize Fun. When budgeting your money, you have to remember to prioritize for things that bring you JOY. Set a goal and when you accomplish it, tap into this category and unleash your fun fund. This could mean buying those shoes you have had your eye on, a spa day, or planning that impromptu weekend with your loved one(s), girlfriends, or even by yourself! It doesn’t have to be big, but it does help if it is something that brings happiness and drives you to work toward your goal.

How Do You Divide Your Refund?

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{Smart Money} Is Education a DEBT Sentence?

Published on February 9, 2013April 19, 2013 by Danielle YB Vason8 Comments

There is a quote that states, “If you think education is expensive, try ignorance”. Unfortunately, this quote is true on SO MANY levels. While many people associate the word ignorant with being dumb or stupid, it’s simply the condition of being uneducated, uniformed, or unaware. After graduating from Spelman College, I made both smart and dumb decisions regarding my student loan debt. I was told by my aunt that paying your student loans is a great way to establish credit. I put in an extra effort in paying Sallie Mae, so much that I had it paid more than year in advance. This was smart, ignorant, and sometimes dumb at the same time. It’s smart because I really never had to worry about forgetting to pay the bill. I felt extremely proud of myself for not being another “irresponsible” 20 something. It also revealed my ignorance because I should have been using that extra payment every month to pay down the balance NOT pay it in advance. I ended up paying interest when I could have been slaying the balance, which ultimately shortens the life of the loan. However, it wasn’t until I was in between jobs and not paying on the loan at all because the next due date was a year from then that I started digging a hole that I am still trying to get out of four years later. For one, my interest was accruing at about $8 a day, so a lot of the money I thought I was saving was now been tacked back on to the overall balance. It got worse when after the year was up, I still wasn’t working and I accepted an offer to postpone my payments for a year. That was back in 2011 and after yesterday’s phone call to Sallie Mae, my decision to postpone is still hurting my finances.
I pay about $200 a month for my student loans and recently got a series of letters saying that if I qualify I should sign up for automatic billing, which would let Sallie Mae automatically deduct money directly from a specified account every billing cycle. The incentive you ask? A .25% reduction in my student loan interest…equaling about $50 a month and $600 per year. I called Sallie Mae on yesterday, only to find out that I did NOT qualify. Apparently, if you post pone your loan at ANYTIME over the life of the loan, you lose eligibility for any interest rate reduction. Had I known this I would have been the never postponed my loan, but this secret penalty was never in any of the documents I agreed to. Looking back I would have rather roughed it out. So I guess the quote rings true. My education was expensive but my then financial ignorance could cost me more in the end.

We would LOVE to hear your thoughts?

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{Money Challenge Remix} How to Save $1300+ On Any Budget

Published on January 18, 2013January 3, 2016 by Danielle YB Vason28 Comments

Click here for the updated 2016 version!

Okay, so we are just 3 weeks in and I started falling behind for my 52 week money challenge. I decided at the start of week one to try this challenge in reverse. That means I will be saving more money at the beginning of the year and less the closer we get to the holiday season. In my mind, this worked well. In reality, it could work well. So far, though, my results haven’t been all that great and the fact that the fiscal cliff has chopped a chuck out of my check, hasn’t helped. I thought to myself…”Danielle, how can you find a way to honor the challenge in a way that will not hurt you financially?” Then I came up with the idea to create a “bingo” style format. At the end of the year, I would still end up with the same amount of $1378 and if I am having a tough financial week, I can pick a lower amount to save. I crossed off 52 on week one, and I will cross of 5 and 4 to represent weeks two and three. I decided to share this to maybe motivate someone who may have been thinking about “giving up”.

{What’s Your Preference} Numerical Order, Reverse, or Bingo Style?

Email me if you want my handy Bingo Style Sheet!

{52 Week Money Challenge} The Easiest Way to Save $1,000+

Published on January 3, 2013December 28, 2018 by Danielle YB Vason15 Comments

Click here for update and a “remix” to this MONEY CHALLENGE! Can we say…so much easier to save, than the original!!

SMC- 52 Week Money Challenge

Today I was introduced to the 52 Week Money Challenge by a fellow blogger, DLWinfrey from Pretty Girls Rock Dresses (PGRDresses). The challenge is to make a weekly deposit that reflects the number of weeks of the year. For example on week one you deposit $1.00 and on week 27 you deposit $27.00 and so on. It sort of reminds me of when I was little and my big brother would give me money that corresponded with my age ($5.00 for my fifth birthday and $10 for my tenth birthday). This is week one of 2013, so if you are interested, you better put your dollar to the side. I plan on using the money saved throughout the year for holiday purchases and paying down credit card debt. Just think, by this time next year, I could have saved $1,378 just by participating in this challenge. While I don’t know who came up with this challenge, I do thank them. It’s easy, it’s fun, and it won’t break the bank. Plus the remix of this money challenge makes it so even easier.

52 Week Money Challenge

What Will You Do With Your Savings?

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