Thursday, November 11, 2010

52 Week Challenge

Recently as I was checking my comments on my Youtube channel, I came across a subscriber. The nosiness in me made me go back to her page and see her videos as well. Her latest video was on a financial challenge. If anyone needs a financial challenge it's ya girl!!! After I watched my subscriber's video I went to the actual link from where she heard about the challenge initially.

Let's just say that this challenge really got me excited. The challenge is relatively easy if you have funds coming in. The most that you'll save at one particular time is $52. Yes $52!!! So because of ll the excitement and joy I had you know I wanted to share this with everyone. The first people that I told were my wonderful co-workers. Then I proceeded to tell my family, friends, and now I'm telling... YOU!!!

Remember earlier I said that the challenge was easy, well it is. Here's how it works. On the first week you save $1. Yes that wasn't a typo, its only one dollar to save the first week. The second week you save $2. The third week $3. Are you starting to get the point here. the weeks coincides with the amount of money you're saving. So at the end/beginning of week 52 the most that you'll save is the $52. I'm not sure if you can actually visualize the savings but at the end of the challenge you'll have over $1300.

My co-worker, family and I started this week on the 8th of November. So by the last Monday of the month we'll have saved $10. You still think it doesn't work... well by the end of next month our money will have more than tripled. We're deciding if we want to save our money in an account to gain interest or not. Since its my co-workers and myself we were thinking about starting an account together where it takes all of our signatures to remove any funds. Then at the end we can split the money with our gained interest equally. Now that's just a thought, but personally I'd like to keep my money in an institution that's not easy to get to.

If you think this is something that you can handle we would LOVE for you to join the challenge with us. The kool thing about the time that we're starting, is that for my readers that have kids (or not) this can actually become your Black Friday shopping money. Afterwards you can start the challenge again in preparation for the following year. However, you can just keep the challenge going and have a nice little savings nest.

Please comment and let me know if you'd like to start. Also, if you know of any tips to save money, improve credit, or any financial support please share!!!

P.S- I also found a list of blogs that could possibly help out in regard with finances. I also have an excel sheet with the detailed amount of savings <- e-mail if you'd like it!!!