52 Week Money Challenge – Page 4

{Week 2 Progress Report} 52 Week BINGO Money Challenge

Published on January 8, 2016May 23, 2017 by Danielle YB Vason15 Comments

It’s the start of the year and people are still very focused with their resolutions. For some, the 52 Week BINGO Money Challenge is another goal on their resolution list. For me, it has to be a lifestyle. For the past few years, I have accepted the challenge to save for a specific amount to help with paying down my credit card, saving for the holidays, or even saving to help out with my wedding to the Mr; however, once I accomplished the goal, I fell off. I was doing well with a zero balance and then I started to swipe my credit card for wedding expenses so now I am back to the beginning of Dave Ramsey’s Baby Step 2. That’s why they call it a challenge because it is challenging.

This year, I am back at the goal of wiping out my $3,886.78 credit card balance completely by or before May 1, 2016. My plan is to pay a set amount every two weeks plus the savings from BINGO money challenge, every Friday. Once the credit card balance is non-existent, I can start snowballing my student loans so I can shorten the length of the term dramatically and reduce the amount of interest I would have to pay back. Today, I marking off number 40 on my Bingo Money Sheet (leave a comment below for your FREE copy of the 2016 BINGO style sheet).

What Are You Using Your BINGO Savings For?

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{Super Charge Your 2016 Savings} 52 Week Money Challenge Like You Have Never Done Before!

Published on January 1, 2016May 23, 2017 by Danielle YB Vason22 Comments

Financial Affirmation: “I am aligned with the energy of wealth and abundance”.

Photo Credit- Colin Anderson (Getty Images)

It’s the first Friday of 2016 which means it is time for the Bingo Style version of the 52 Week Money Challenge. For the past few years, I have used the bingo format to help pay off my credit card debt, save for the holidays, and save for a little extra for a wedding. This year, I plan on using the extra money from this version of the challenge to get my credit card balance back to zero (another story for another day) and start snowballing my student loans.

Here Is How It Works!

I’m sure you have seen the original challenge floating around the internet where you 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 52 you deposit $52.00 and so on. However, doing it this way will have you shelling out the big bucks during the holidays when people’s money is the most limited. One year, I even attempted to do the original challenge in reverse by saving more money at the beginning of the year and less the closer we get to the holiday season. The only problem with doing it that way was that I was shelling out a lot of money right after the holidays when… for most people, money is still a little tight. 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 $1378.00 and if I am having a tough financial week, I can pick a lower amount to save. The good thing about the bingo challenge is that you are able to start at any time and if you get off track, it’s easy to see where you need to make it up to get back on track. 52 Week Challenge

What Makes 2016 Different?

The power of choosing how much you want to save is what has always made the Bingo Style different from the original 52 Week Challenge. This year, though, we have upped the ante and included optional bonus+ boxes for those who are able and willing to push themselves further on this challenge. It will take more sacrifice, but it will help you gain more strength and momentum toward your financial goals since you will be saving a minimum of $1928.00 versus $1378.00.

Check Ins

You know goals are more likely to materialize when we share them with others. That being said, check ins will take place on Fridays at noon where I will share my progress on the challenge and its effect on my overall financial goals and I encourage you to do the same. I love hearing your stories of how you are doing in the challenge and the financial milestones you have accomplished by making saving a habit of your daily life. Sometimes doing it with a friend or even a blogger friend like me, keeps you better motivated since you aren’t in it alone. If you have questions, comments, or suggestions, shoot me a line below or email me for the latest Bingo Style Money Challenge, free to shemakescents readers!

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{2015 Week 11 Update} 52 Week Money Challenge

Published on March 13, 2015March 9, 2015 by Danielle YB Vason1 Comment

I believe that through knowledge and discipline, financial peace is possible for all of us. -Dave Ramsey

I’ve been contacted by quite a few of you asking for a copy of the 52 Week Money Challenge, which shows me that I am not the only one looking to save money. While you won’t save a MAJOR windfall doing this challenge, you will gain financial discipline. It’s harder than you think to get in the habit of saving but once up pick up the skill, it’s well worth the effort. If you are new to She Makes Cents, I am happy to report that I paid off my credit card doing this challenge as additional payments over the minimum. I am now adding this extra money to my wedding savings account after I see how much I have left from doing a zero based budget…aka, my saving grace!

How Are You Going Use Your $1300+ ?

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{Cash Is Fab} How One Girl Resolves to Never Use Plastic Again!

Published on January 11, 2015 by Danielle YB Vason6 Comments

This morning I was cleaning out old files from the computer, aka procrastinating writing my next blog post, when I found an old resolution. I wrote in it December of 2013 but never posted it. I decided to post it today, however, to show what a year of working toward financial goals looked like for me. I encourage you to write down your goals so you can have a reference of just how far you have come and then take a step back and acknowledge your progress. Check out my 2014 financial goals below:

Cash Is Fab! How One Girl Resolves to Never Use Plastic Again!

Some people hear the word “resolution” and immediately shutter. I on the other hand, look at resolutions as a new beginning… a do over to do better. Hey, if you don’t like the word resolutions, substitute it for goals because everyone knows that goals are AWESOME! This year I resolve to pay off my credit card balance before my birthday in August, kick start my snowball toward financial freedom, and say no to plastic forever (ambitious, right?). I am working toward this goal by paying a set amount every two weeks (each payment over the monthly minimum) and doing the 52 Week Money Challenge (Bingo Style) every Friday. If I were okay with just paying the minimum, it would take me 4 years, instead of eight months, to complete step one of my financial plan. The Bingo version of the challenge plays a big role in completing my financial resolutions because if I am having a tough financial week, I can pick a lower amount to save. Once the credit card is paid off, my monthly credit card payments (including the 52 Week Challenge savings) will become extra payments to my student loans and so on until I have zero debt. I keep myself motivated by constantly reminding myself and my accountability partner, The Mr., of my ultimate goal to pay of all debt, credit card, student loans, and mortgage in the next ten years. If I can’t afford to pay for it in cash, I can’t afford it!

Now, one year later my credit card balance is not a concern because it is non-existent. I sometimes forget about the stress that carrying a credit card balance had on me. Yes, I paid my credit card off and before my target date by doing this risky move, which worked and then immediately backfired. I also think about how my snowball plan for my student loans has been transformed into a snowball for my October wedding expenses to the Mr. Boy oh boy, what changes can happen in a year.

Finish the Sentence: I Resolve to ________

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{Super Charge Your 2015 Savings} 52 Week Money Challenge | Bingo Style

Published on January 1, 2015May 23, 2017 by Danielle YB Vason10 Comments

Can I get a “BINGO”? It’s a new year, which means it is time for the 52 Week Money Challenge. I can tell by looking into my stats for the She Makes Cents that people are researching ways to save money in the new year. I mean really, we can all do something a little different with our financial decisions that will set us up for financial success. For the past two years now, I have taken part in the 52 Week Money Challenge. In participating for the past two years, I created a simpler way to save that was both lucrative and effortless. My She Makes Cents Bingo Style Sheet, free for She Makes Cents readers, has made it easier for those participating in the challenge to save money on one’s own terms. Using my Bingo Style Sheet has helped me to pay off my credit card debt, save for the holidays, and start saving for my wedding in October.

How Does It Work?

The original challenge was 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. However, doing it this way will have you shelling out the big bucks during the holidays when people’s money is the most limited. 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 $1378.00 (without doing any of the bonuses) and if I am having a tough financial week, I can pick a lower amount to save. The good thing about the bingo challenge is that you are able to start at any time and if you get off track, it’s easy to see where you need to make it up to get back on track.

Still Need Motivation?

I will post my progress on Fridays and I invite you to keep us up to date on your progress. I love hearing your stories of how you are doing in the challenge and the financial milestones you have accomplished by making saving a habit of your daily life. Sometimes doing it with a friend or even a blogger like me, keeps you better motivated since you aren’t in it alone. If you have questions, comments, or suggestions, shoot me a line below. Happy Saving!

How Are You Going Use Your $1300+ ?

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Email SMC: shemakescents@gmail.com

{Week 21 Update} 52 Week Challenge Helped Me Hit A Financial Milestone!

Published on May 24, 2014May 24, 2014 by Danielle YB Vason4 Comments

It’s week 21 of the 52 Week Challenge and I am five weeks away from the half-way point of the challenge I started on Friday, January 3, 2014. Over the course of 21 weeks, I have saved over $500.00 dollars that I would have spent on random bits and baubles. Doing this challenge, along with deciding to play a little Russian roulette with my finances, has helped me to pay off my ENTIRE credit card balance three months ahead of schedule.

While some may think a money challenge like this is not worth the effort, I strongly disagree. Not only are you putting money aside for whatever your current financial goal may be, be it paying down debt, saving for a new car or home, or planning a wedding, you are also altering your previous financial behaviors. Personal finance is 80% BEHAVIOR and only 20% HEAD KNOWLEDGE! Just taking the steps to start a challenge like this means that you are getting into the habit of saving. Becoming successful in the challenge means that it has become a part of your lifestyle and not a temporary behavior change. I urge you, if you have thought about ways to save money to try this challenge BINGO style. It’s the easiest way to save extra money under your own terms.

Email me for a copy of my 52 Week Challenge Sheet & Start the Challenge TODAY!

Let’s Connect!

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{Week 16 Update} 52 Week Money Challenge

Published on April 18, 2014January 22, 2017 by Danielle YB VasonLeave a comment

Hello Lovelies and Happy Friday! We are coming to the end of week 16 of the year. So far, I have saved an extra $370.00 as of this morning when I crossed off number 11 from the Bingo Money Saving Sheet. I know many people make grand financial goals in the beginning of the year in the form of New Year’s Resolutions. The intentions are good but somewhere along the lines, people justify giving up on their resolutions because they did not make them a part of their routine. I am here to urge you if you never tried this or even if you did and stopped along the way to start the 52 Week Money Challenge (Bingo Style). You don’t have to wait until next year to start because the beauty of this challenge is that you can start anytime. If you want my Bingo Sheet, send me an email!

Happy Saving!

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{Week 14 Update} 52 Week Money Challenge

Published on April 4, 2014January 22, 2017 by Danielle YB Vason1 Comment

It’s Friday already and time for your 52 Week Money Challenge reminder. For those of you, like me, who began on January 3, 2014, we are 14 weeks in for this year! Today, I crossed off $25.00 from the SMC bingo style money sheet , which puts me at a grand total of an extra $344.00 saved thus far. The closer we get to August 1, 2014, my goal date to have a zero balance on my credit card, the more excited I get. In some ways, the feeling I get every time I see the balance drop is becoming stronger than the high I get from shopping. I am planning for big things to happen THIS MONTH by paying my set payment of $300.00 per month + the 52 Week Challenge each Friday + the possibility of a somewhat risky financial move, which I will talk about in Monday’s post. Stay tuned to see how I plan to slash my credit card balance from $1345.00 (current balance) to less than $500.00 by the end of the month by taking of gamble with my finances. If you want big rewards, sometimes you have to take big risks!

{Week 13} 52 Week Money Challenge Bingo Style

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

Someone recently asked me “what was the point of doing a money challenge, it’s not like you are saving a substantial amount?” My reply was simple, “every little bit helps me get one step closer to my goals”. I am very serious about having a zero balance on my credit card by August 1, 2014 and using funds saved from this challenge helps me pay off my balance faster. Today, I crossed number 17 off my bingo style money challenge sheet which gives me a grand total of $319.00 additional dollars added to help pay off the balance on my cards. A while ago, I decided that instead of payment the minimum + the 52 Week Challenge weekly payment I would decide on a set payment to make every two weeks and add the money from the challenge on top of that. This has allowed me to chop off interest payments as well.

How Are You Doing On the Challenge?

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This morning has proved to be on of those rare occasions where I am awake before the doggies and the Mr. I thought to myself, this would be the perfect time to blog! I was preparing for a cool {Beauty Cents} post, when I realized I completely forgot about my 52 Week Money Challenge on yesterday. This week I am planning on crossing off number 27 (which I will do right after I post this) which puts me at a total of $269.00 of extra money. If you are doing the challenge, comment below on your progress. If you have yet to start, I encourage you to do so. This doesn’t have to be just a New Year’s challenge, but rather a yearly challenge. Your year starts when you start, so today is as good of day as any!