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January Challenges?

December 21st, 2012 at 09:53 pm

Hi everybody and welcome to the weekend! I am wondering if there are any January challenges starting up (or any interest in starting one) among the members? For example I see some kind of a $20 challenge on some people's postings, not sure what that is all about. I thought of one that may be worth while, to try to one day a week being a "no spend day" in 2013. Anyone else have good ideas?

Thoughts about changing habits, which is what I am here for primarily, supporting the change, is making it fun and interesting - and celebrating small victories.

I had two victories today - cancelled and cut up my two favorite department store cc's, which had 0 balances on them. Still waiting for the holiday bonus which will pay off cc1, and then I am calling and cancelling that puppy. That will be a great day!


Back to the January challenge. Any good ideas out there? Anything done in the past to kick start the new year?

I also bought some AAPL at $515 today, through on IRA which we cannot touch yet (too young) - hoping that goes back up in 2013!

Posted in Budgeting, Investing, Saving Money | 9 Comments »

9 Responses to “January Challenges? ”

  1. Beawealthywarrior Says:
    December 21st, 2012 at 10:10 pm 1356127854
    1356127854

    On another forum I follow we are going to do a "Sell Challenge", see who can sell the most via Ebay, craigslist, etc.. Basically this is going to be a good way to get rid of unnecessary stuff and earn a few snowflakes.

  2. creditcardfree Says:
    December 21st, 2012 at 10:38 pm 1356129516
    1356129516

    That challenge is a good one, BAWW. I did that one year for myself. My goal was to sell on average $100 per month. I think I fell short, but without the goal not achieved what I did.

  3. wowitsawonderfullife Says:
    December 22nd, 2012 at 02:35 am 1356143755
    1356143755

    I like the $100 a month sell off for sure!

  4. Sian Says:
    December 25th, 2012 at 10:33 pm 1356474837
    1356474837

    i've also heard of ppl doin a money jar challenge. such as puttin their spare change in a jar and addin it up monthly. i believe that i'll be doin that one myself.

  5. Bingo Says:
    December 26th, 2012 at 02:40 am 1356489644
    1356489644

    I like the money jar challenge. As great an idea is of selling things, I honestly don't know what I would sell. And for someone who does not do that it sounds like work. I think I am going to do the buy nothing day I day a week, during the week- meaning no coffee purchases at work, lunch, gas, etc.

    Right now we have a ton of money in a jar.

    By the way we paid off cc1! Canceling as soon as the check clears. I don't buy into any adverse impact on our credit rating. The satisfaction is much more important right now. Next is husbands truck. The plan is having that paid off by February. That will be a challenge but we are up to it. Happy Holidays!

  6. Beawealthywarrior Says:
    December 26th, 2012 at 03:57 am 1356494246
    1356494246

    Congrats on paying off cc1! In addition to saving change, for the majority of the year I saved all $5 bills and they add up quick. I think in 2013 I will go back to saving $1 bills instead but we will see.

  7. Bingo Says:
    December 27th, 2012 at 09:37 pm 1356644245
    1356644245

    Dear Beawealthywarrior- love that idea! Between the "no spend" days and saving all dollar bills that should ramp up to some nice change quickly! I'm going to chew on that while I eat this Christmas cookie.....

    Just tried to close cc1- before I did that, I cashed in all my rewards points so I would not lose them. Did that yesterday, have an email confirming gift cards are on their way. Total was $250 at Amazon! I chose that because they gave the fairest exchange ate, and free shipping. We have a ton of gifts in Jan and Feb, birthdays.

    Anyway, called the company and the gal sad if I cancel now the gift card transaction is at risk of being voided. Holy scam batman! But knowing what a frustrating adventure that could be, I decided to wait a few more days to cancel the card. I did however cut the card up. If she thins I am going to space this cancellation she is wrong.

  8. Jerry Says:
    January 4th, 2013 at 01:42 pm 1357306939
    1357306939

    I saw one saving plan for the year that included putting aside one dollar for the first week of the year, two dollars for the second week of the year, and so on until it leads to 52 dollars for the last week of the year. If you keep with it, you end up with well over $1000 in savings! I thought that was an interesting one.
    Jerry

  9. creditcardfree Says:
    March 5th, 2013 at 03:23 am 1362453806
    1362453806

    Did you get your truck paid off last month, as you stated you would? Hope so!

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