Hi. I'm still budgeting and using #thebudgetmom method. It's been a learning process and by using it year after year, it has made me continously humble & grateful for how much money we earn (how hard we work to get it); and how we know where each dollar coming in is being spent, saved & YES, paying off debt. There is definitely a different mindset that comes with watching you're small and big Saving challenges, fun challenges come to fruition.
Last year, I saved $1500 in cash over 2-3 cash envelope savings challenges.. I'm doing the same two this year, with finishing my 3rd (from last year). The first one is the Reverse Month Challenge - starting with January, I save $120 (which last year would've been $10 (first month of year); February is $110 (last year $20).. all the way to December, which this year will be $10.).. REVERSE.. :) it's a total savings of $780.00.. and it's really a good way to do it and I don't even think about it..
Last year and actually the year before, I also do a "WORD" of the month challenge. I choose a "word" that represents maybe how I'm feeling that month or what's going on ..and save the dollar amount valued at the letter, for instance.. January my word was "POWER" (as you will remember that's my word of the year!), so "POWER" = 16+15+23+5+18, totals what I put aside. February's word is LOVE (for valentine's day), so just this week, I put aside $12 aside for the "L". I put the $$ in a savings envelope that I download and tape up using a template.. it stays in a safe place, and then at the end of the year I decide how I'm going to spend it... maybe this year a new stove!
Then the last Savings Challenge I'm going to do this year is called the "100 Envelopes"; you take 100 envelopes and number them 1 to 100, choosing which envelope you want 'fill' with the dollar amount weekly, when you have extra money..whenever.. at the end of all the 100 envelopes, you will have saved: $5,050! Wow.. that's vacation money right there! Or a hot tub, if COVID is still crazy! So last year, I saved $476 with that challenge, this year I'm determined to finish it up!
The great thing about being mindful of where you're money is going.. is the ability to put these savings challenges together.. watching them grow and then seeing the end amount is such a good feeling.. it's definitely an accomplishment!!
No matter how little or small YOU can do it.. whether it's rounding up your change (as a challenge), avoiding the coffee shop and taking that dollar amount & 'saving' it somewhere, you'll love to start watching it grow into more.
Good luck! Thanks for reading!!
pattie
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