How did you do with last week's money saving challenge? Did you make it an entire week without buying any food on campus? Did you solely eat food you already had available? If so, congratulations!
I did okay.
On Wednesday without even thinking about it, I went to Chipolte for lunch. It was one of the rare times I actually planned to go back to my house during the school day and therefore I didn't have any food packed for campus. I figured I could just eat when I got home.
But Chipolte sounded better.
What about the saving challenge? I didn't even think about it. It was until I was scooping up the last bit of my chicken salad with those delicious chips that I noticed how mindless I had been.
I think it's safe to say that you know you have a spending problem when grabbing lunch doesn't even make you think twice about what you're spending money on.
Regardless of my slight slip-up, I am happy that I realized how ridiculous I was being. Let's hope I can be more consciously aware of my spending in the future.
An unfortunate set of circumstances placed me in Canada on Wednesday night and I stayed there for the rest of the week. Therefore, I didn't really get to finish the challenge.
Since this week's Money Saving Tip isn't a one-week challenge, I'm going to continue with last week's challenge this week too. Maybe this whole no-buying-food-on-campus thing is something I can make a habit out of. Here's to hoping that's the case!
Now on a completely different note, without further ado, I give you this Tuesday's Money Saving Tip.
Meet the 52 Week Money Challenge.
This may be a challenge you're familiar with, perhaps one you've even tried. It appears to be quite popular. Anyway, let me tell you how it works.
Starting during the first week of January, you set aside one dollar. Actually, I lied. You don't just "set away" one dollar. You hide/secure/seal away one dollar. You aren't coming back for Mr. Dollar anytime soon. In fact, you won't be seeing him for a year.
Then during the second week of January, you set aside two dollars. I've never been very good at math, but a quick round up tells me that by the end of this week you should have ($1 + $2) three dollars set aside. During the third week you put away three dollars and so on.
Basically, you will do this for 52 weeks. Depending on which week you are in, in the course of the year, the amount you need to put away corresponds to that week number. Confused? See below:
If you haven't already looked, the total amount you'll end up with is - $1,378! That's enough for a vacation, a mega-shopping spree, or taking a chunk out of your student loans.
I know it is now mid-March, but don't worry ... you can still catch up for this year. The challenge is currently in the twelfth week. All you have to do is put away $78 and add $13 next week. Then you'll add $14 the next week, $15 the next week, and so on. If this sounds like too much, get yourself pumped up for next January and start then.
Now, there is one slight issue I have with the layout of this challenge. What is it? You end up having to put away the most money during the month of December, when hello - it's Christmas time!
Since December is already such an expensive month, I came up with the idea to do the 52 Week Money Challenge backward. Therefore, I put away $52 the first week, $51 the second week, and I'm working my way down. That way when December hits, I won't have to put away more than $4 during any week.
Since I'm already bad enough at budgeting for Christmas presents, saving extra money probably wouldn't happen for me. The only logical thing I could come up with is to do the challenge backwards.
You could also put away a little extra money each week, possibly ending the challenge early. Just make you are able to keep track of whatever you put in your sealed container or piggy bank.
Questions? Comments? Concerns?
I encourage you to give it a try.
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