Savings Challenge

singleguymoney · 12-04-2008, 03:58 AM

Join the savings challenge!

http://www.singleguymoney.com/2008/1...challenge.html

khorrell · 12-04-2008, 07:04 AM

I'm in, but I have to figure out a goal.

Catana · 12-04-2008, 08:16 AM

I think this will help a lot of people, but personally, I don't need a challenge. I've been saving pretty regularly for almost a year, and off and on before that. And I live on Social Security. I transferred a good chunk of my savings from my regular bank acount with its measly interest, to ING. Even with the recent interest drop from three percent, the interest in my account is accumulating very nicely.

singleguymoney · 12-05-2008, 07:44 PM

Quote:

Originally Posted by khorrell

I'm in, but I have to figure out a goal.

The most important thing is making the commitment to save!

jdp · 12-08-2008, 10:54 AM

I could seriously use a challenge.

This year seems to have really gotten me 'off-track' - moving, needing appliances that were previously provided, unrecognized kiddo costs...sad savings year. But this month is not my month to start. Its the one time of year I just spend whatever I feel like (free money that is money that isn't tied up in an account, like a savings or the bill paying one, already).

jkuo13 · 12-08-2008, 07:39 PM

Neat idea. We're already committed to saving in our household, so we're already in the midst of our "challenge." But I'd like to encourage anyone else thinking about setting a savings goal for the new year.

amyschiff · 12-09-2008, 05:21 AM

We are sort of already doing this too. We're trying to find a house, but one that fits in our budget which includes savings for future car payments (we own both our cars at the moment but mine may not last much longer), student loan payments that will be starting around this time next year, car insurance, and continuing to build up our emergency fund.

It makes finding the "right" house pretty tough but when it comes to making offers it's easy. We don't have a whole lot of wiggle room and are just prepared to walk away from counter-offers we can't afford.

starshard0 · 12-09-2008, 12:38 PM

I save almost all of my income anyways. I don't really need a challenge. I can imagine it would be helpful for those who have a trouble saving though.

redsoxmaniac · 12-26-2008, 08:29 PM

I'm in...lots of expenses for the next couple of years, 2 in college, husband working/living out of town. yada yada. I've been putting a little away in an ING account and have a sharebuilder account which I am trying to be patient with. Although it isn't exactly the amount I'd like to save monthly (in fact I just reduced the automatic transfer temporarily) It is better than not doing it at all. The wonderful thing about automatic transfer is you really don't miss it and you do what you need to in order to make ends meet. Just wish I done this my entire life.

singleguymoney · 12-30-2008, 03:27 AM

Here is the December update for my Savings Challenge.

http://www.singleguymoney.com/2008/1...ge-update.html

12-04-2008, 03:58 AM	#1
singleguymoney Member Join Date: Jul 2008 Location: Georgia Posts: 93 Thanks: 0 Thanked 2 Times in 2 Posts Reputation: (12)	Savings Challenge Join the savings challenge! http://www.singleguymoney.com/2008/1...challenge.html __________________ I'm a single guy trying to get out of debt. Visit my personal finance blog @ http://www.singleguymoney.com

12-04-2008, 07:04 AM	#2
khorrell Senior Member Join Date: Jan 2008 Location: near Washington DC Posts: 610 Thanks: 0 Thanked 3 Times in 3 Posts Reputation: (86)	I'm in, but I have to figure out a goal. __________________ The Paycheck Chronicles "helping military families make the most of their paychecks"

12-08-2008, 07:39 PM	#6
jkuo13 Senior Member Join Date: Jan 2008 Location: Lancaster, PA Posts: 153 Thanks: 0 Thanked 1 Time in 1 Post Reputation: (36)	Neat idea. We're already committed to saving in our household, so we're already in the midst of our "challenge." But I'd like to encourage anyone else thinking about setting a savings goal for the new year. __________________ TheInternalArts.com \|\| Zenfulness

12-30-2008, 03:27 AM	#10
singleguymoney Member Join Date: Jul 2008 Location: Georgia Posts: 93 Thanks: 0 Thanked 2 Times in 2 Posts Reputation: (12)	Here is the December update for my Savings Challenge. http://www.singleguymoney.com/2008/1...ge-update.html __________________ I'm a single guy trying to get out of debt. Visit my personal finance blog @ http://www.singleguymoney.com

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

12-04-2008, 08:16 AM	#3
Catana Member Join Date: Oct 2008 Posts: 40 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (45)	I think this will help a lot of people, but personally, I don't need a challenge. I've been saving pretty regularly for almost a year, and off and on before that. And I live on Social Security. I transferred a good chunk of my savings from my regular bank acount with its measly interest, to ING. Even with the recent interest drop from three percent, the interest in my account is accumulating very nicely.

12-08-2008, 10:54 AM	#5
jdp Senior Member Join Date: Jan 2008 Posts: 226 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (29)	I could seriously use a challenge. This year seems to have really gotten me 'off-track' - moving, needing appliances that were previously provided, unrecognized kiddo costs...sad savings year. But this month is not my month to start. Its the one time of year I just spend whatever I feel like (free money that is money that isn't tied up in an account, like a savings or the bill paying one, already).

12-09-2008, 05:21 AM	#7
amyschiff Senior Member Join Date: Feb 2008 Location: Lansing, MI Posts: 468 Thanks: 0 Thanked 1 Time in 1 Post Reputation: (76)	We are sort of already doing this too. We're trying to find a house, but one that fits in our budget which includes savings for future car payments (we own both our cars at the moment but mine may not last much longer), student loan payments that will be starting around this time next year, car insurance, and continuing to build up our emergency fund. It makes finding the "right" house pretty tough but when it comes to making offers it's easy. We don't have a whole lot of wiggle room and are just prepared to walk away from counter-offers we can't afford.

12-09-2008, 12:38 PM	#8
starshard0 Senior Member Join Date: Apr 2008 Location: Monterey, CA Posts: 614 Thanks: 0 Thanked 2 Times in 2 Posts Reputation: (13)	I save almost all of my income anyways. I don't really need a challenge. I can imagine it would be helpful for those who have a trouble saving though.

12-26-2008, 08:29 PM	#9
redsoxmaniac Senior Member Join Date: Feb 2008 Posts: 132 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (13)	I'm in...lots of expenses for the next couple of years, 2 in college, husband working/living out of town. yada yada. I've been putting a little away in an ING account and have a sharebuilder account which I am trying to be patient with. Although it isn't exactly the amount I'd like to save monthly (in fact I just reduced the automatic transfer temporarily) It is better than not doing it at all. The wonderful thing about automatic transfer is you really don't miss it and you do what you need to in order to make ends meet. Just wish I done this my entire life.

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Reader Challenge: Make Your 2008 Resolutions!	Will	Lifehacks & Personal Development	48	02-01-2010 03:27 PM
Wise Bread March Madness Challenge 2008	Will	General Discussion	62	03-17-2009 12:43 AM
The 'Waste Not Want Not' Food Challenge	redsoxmaniac	Frugal Living	43	12-10-2008 12:11 AM
Zero Household Waste Challenge	amandajane	Frugal Living	15	02-24-2008 02:32 PM
The Thirty Day Challenge	amandajane	Bloggers Corner	6	02-02-2008 07:46 PM