I started my journey to financial peace in the summer of 2016. Since then, anything dealing with finances and savings has garnered my attention. What. Have seen are a bunch of challenges telling you to save a certain amount each week of the year and at the end of the year you will have a bunch of money. The problem with these types of savings challenges is … what if I don’t have that much to give? I would be easily defeated or decide not to even start because it doesn’t seem like something I can accomplish.
Understanding that not everyone is on the same financial playing field, I embarked on a savings challenge that everyone can do, irrespective of their financial situation. To do this challenge, all you will need is commitment and to use cash for your purchases.
There is one simple rule to this challenge – save all of the change you receive from your purchases. When I say all you need is commitment, what I mean is: you have to be willing to give the cashier $3.00 for a $2.01 purchase so that you can receive the $.99 to put into your savings jar. Sometimes, you will run into the cashier that allows you to slide on the change, or take change from the community fund; however, when that doesn’t happen, you have to be committed to the challenge enough to spend the extra $1 when you could just go into the change pouch and take out the penny.
With all that said, if you are struggling at the end of the pay period and you need the change, by all means, use the penny to save the dollar for the next purchase; but, if you can manage it, stay determined.
This is the savings challenge that I do with everyone in my household. My children are now involved in the challenge when they receive their allowance. I do this with each purchase and at the end of the pay period I count up the money and add it to the coin jar. What I do with this money is I use it to buy a live Christmas tree at Christmas time, along with new ornaments that the children may want. Then, if there is anything left over, I will divide it amongst the three children and add it to their Christmas sinking fund budget.
I saved $8.76 over the last two weeks. I saved $8.76 over the last 2 weeks. If I saved that much every pay period, I would have $227.76 by Christmas. I know it doesn’t sound like much, but to the person who can’t even begin to figure out where to save, here’s the start! Join me.
Until next time, journey on!