{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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Email SMC: shemakescents@gmail.com

{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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Email SMC: shemakescents@gmail.com

{Week 6 Check In} 52 Week Money Challenge Bingo Style!!

Published on February 7, 2014April 4, 2014 by Danielle YB Vason10 Comments

It’s Friday and your weekly reminder to make your deposit toward your 52 Week Money Challenge. At the end of your 52 weeks, you have an extra $1300.00+ to use however you decide. I do it every Friday and I urge you to do so. The more consistent you are in the beginning the more likely you are to be successful doing it. I completed the challenge last year, which helped me to pay down my credit card balance, as well as, pay for holiday gifts. We are on week six of 2014 and I have used my savings to continue to pay down my credit card debt (just like last year). So far I have saved $99.00, every bit counts, and I am less than six months away from a zero balance on my credit card. If you would like my BINGO style sheet, email me with SUBJECT: SMC Bingo Style Sheet.

What are you saving for?

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Email SMC: shemakescents@gmail.com

{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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Email SMC: shemakescents@gmail.com

{Financial Cents} How To Make A Financial Plan

Published on April 11, 2013March 13, 2018 by Danielle YB Vason13 Comments

Sometimes I need to remind myself that a goal without a plan is just a wish. Every morning I would pray for financial blessings but somehow found myself going through the motions, which was slowing my progress to my goal of zero debt. For me, it is about finding that balance between enjoying my lifestyle and making financially sound decisions. I have been bitten by the travel bug and I can’t wait to explore the world, I live for bottomless mimosas at brunch, and I believe shoes and the right lipstick makes the outfit. However, I also believe in building hefty savings, going into marriage without bad debt (i.e. credit card and student loans), and building generational wealth. I must agree with Dave Ramsey, financial guru, who affirms, “Personal finance is 80% behavior and only 20% head knowledge”. I am working on the behavior part. I found that even though I enjoy shopping, I’m more likely to shop when I’m bored. Recently, I started filling that boredom with QT with the Mr. walking and exploring our city. I am focusing on better decisions, which will yield better behavior. Every cause has an effect and every decision has a financial consequence; that’s why coming up with a personalized financial plan has been my saving grace. Yes, I prayed for financial blessings…I still do, but I have also added the caveat that with financial blessings come financial responsibility.

Check Out My Financial Plan Outline!

1. Write down your debt & don’t forget to include people you owe money. I was talking with a childhood friend who says he had zero debt. As we got to talking it was revealed that he did not include the almost $7,000 he owed to a family member and the card he maxed out in his college days. Out of sight, out of mind, I guess. Once we dove deeper into our conversation, he and I started listing our debt. At the time of this conversation, my list was simple- one credit card, student loans, and mortgage. His, well…let’s just say that I composed a very sobering list on his behalf that included all the debt that he could remember. Seeing your debt listed and then learning out to find out just how much you are paying in interest makes it all VERY REAL.

2. Emergency Fund Minimum. Baby Step One of the Total Money Makeover is to get your emergency fund to $1,000 if you have an annual income of $20,000 or more. “Your car will need repairs and your kids will outgrow their clothes. These are not emergencies; they are items that belong in your budget. If you don’t budget for them, they will feel like emergencies”. It was this statement from the book that caused me to stop dead in my tracks and redefine what I considered an emergency versus saving.

3. 52 Week Money Challenge- BINGO Style. This was actually a part of my New Year’s Resolutions every year. 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. I took the challenge one step further by remixing it into a BINGO style which makes it easier to be successful. The most I have ever saved in a year is a little under $2,000.00 and I am hoping to beat that very soon. I have used the 52 Week BINGO Money Challenge to pay off my credit cards completely, save for my birthday plans, and even gifts for family and friend during the holidays. Want to join this money saving challenge? Click here for more information and to grab your FREE copy of the money guide.

4. Tackle Your List. I revealed in the post, Tackle Your Credit Card Debt Today, that as of January I started with $5300 in credit card debt. I have reduced my debt down to $0.00 by paying a little over the minimum and applying the money challenge money to the balance EVERY Friday (I have yet to miss one), but that was interest is killing me. While making additional payments to the credit card, I am making the minimum payment toward my student loans and mortgage. Once the credit card was paid off, I will now apply that money to extra payments to my student loans and so on…this is called the Snowball Method. Now, I will confess, if I had more debt, I would recommend switching between the Snowball Method and the Avalanche method, which we will discuss later in the Financial Cents series.

5. Emergency & Savings. Don’t forget to save that money you are no longer paying to others. Use it to prepare for the future. Emergencies will arise and more than likely something will come up that will cause you to tap into your savings….be prepared.

{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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