52 Week Money Challenge – Page 2

Finance Blogger, Danielle YB Vason of She Makes Cents, reveals her motivation to pay off debt.

52 Week BINGO Money Challenge | March Recap

Published on April 8, 2017April 11, 2017 by Danielle YB Vason2 Comments

Welcome to the weekend #SMCmoneytribe. Congratulations on finishing month 3 of the She Makes Cents 52 Week BINGO Money Challenge! How does it feel to see your money grow and know that you are closer to your goals than you were before you started the challenge? Keep that feeling close in the coming months. This is around the time, where people need the most motivation to keep going. As I revealed in the February recap, 80% of people fail their resolutions by February. If you are still going hard on this challenge, you are already more focused and goal-driven than most people. While the challenge isn’t hard, it does take discipline and consistency. I must admit I even found myself getting a little behind and then having to catch up before the end of the month. I am happy to report I am all caught up with a new sense of motivation.

How I Stay Motivation Doing The Money Challenge

Every once in a while, I calculate how long it would take me to pay off the remaining $17,940.40 in student loan debt I owe if I only made the monthly payment. The answer- 11 years and 3 months. Then I calculate how long it would take me and how much interest I would save if I added extra money toward the principal. For example, if I paid an extra $300.00 per month starting in April 2017 toward this goal, I would only have 3 years and 6 months left to pay on this loan. That’s right, making an additional $300.00 payment per month toward my student loans would shave off 7 years and 9 months off the term of the loan and would save me a little more than $5,550.00 in extra interest. Let that soak in for a minute, shall we. If I were to up the ante even more and started paying an additional $500.00 per month starting August 2017 instead of the $300.00 in the example above, I would be able to pay the loan off in 2 years and 8 months, shave off 8 years and 7 months of the repayment term, and save $5,862.60 in interest. Now folks, if that doesn’t motivate you, I don’t know what will. When I feel myself drifting off my path to financial freedom, I take a moment and do this exercise. It immediately fills me with a sense of inspiration, purpose, and energy especially considering that my student loans are the only thing now keeping me from moving from Baby Step 2 to Baby Step 3.

The March Recap

For the month of March, I saved $72.00 which puts me at a YTD of $221.00 through the end of March. I save more money than the previous month and I am really looking forward to what April brings. The end of April represents the end of the first quarter of the challenge which is when I will take the 2017 savings from this challenge and make a principal payment toward my student loan debt! If my financial projects for next month are correct, April will be the most successful month of the challenge thus far. Want to join the challenge? Click here for your FREE money card download.

52 Week BINGO Money Challenge | Week 9 Update

Published on March 3, 2017April 24, 2017 by Danielle YB VasonLeave a comment

Welcome to weekend #SMCmoneytribe! This week I crossed off $20.00 on the She Makes Cents BINGO Money Challenge. At the end of next month, I will take the money saved between January and April to make a lump sum payment on my Navient student loan principal. My goal is to deplete my money challenge savings every four months to get my snowball moving a little faster. Interested in joining our money challenge, click here for your FREE money card printable.jump-start your way savings or lifestyle goals, click here to get your FREE money card download.

Money Challenge 2017 | February Savings Recap

Published on February 28, 2017March 1, 2017 by Danielle YB Vason1 Comment

Hello #SMCmoneytribe! Can you believe that we just finished the second month of the she makes cents 52 Week BINGO Money Challenge? I sure can’t. As we approach a new month I can’t help by wonder, how many of you are still going strong on the challenge? According to Business Insider, 80% of people fail their New Year Resolutions by February. It is easy to have a laser focus on your money, career, and lifestyle goals when a clear transition is before you. Think about all of the people who vow to do better in the new year, who will start clean eating on Monday (aka the start of the new week), and who pledge to start saving more once they earn their next paycheck. Anybody recognize themselves in the statements above?… as I raise my own hand. The thing about all of those examples is that is pushes off you goals to another day; therefore, delaying your ultimate reward- a goal accomplished. Last Friday marked the end of month 2 for the she makes cents 52 Week BINGO Money Challenge and the best thing about our money challenge is that you can easily catch up if you have fallen behind or you start over. The greatest thing about this challenge is that as long as you don’t stop, you will win at your financial goals.

February Recap

Below is the financial breakdown for the month of February. As you can see, I crossed off lower numbers than the previous month. I saved an extra $41.00 this month putting me at a YTD of $149.00. I am really looking forward to March. Hopefully, I will cross off my first bonus box of the year.

How Are You Doing on the Money Challenge? I’d love to hear from you!

Block Anything That Gets In The Way of Your Goals | Money Challenge Week 5

Published on February 3, 2017February 3, 2017 by Danielle YB VasonLeave a comment

Hello Lovelies and welcome to Super Bowl weekend. This folks, is a big deal for everyone from my hometown of Atlanta! Since it is Super Bowl weekend, I will break down today’s money inspiration for you in sports terms. I want to inspire you to check your financial plan. Is it current? Does it reflect your current financial status and goals (gosh, the last time I posted mine was in 2013)? If you’ve never created a financial plan that’s okay too because today is a great time to do so. Your financial plan is like your game playbook. Your money is the football and it is your job to block anything that gets in your way of getting to you getting to your goal. To do so, you have to reference your financial playbook from time to time. There will be setbacks (see How to Comeback from a Setback), people who will attempt to block your progress, and times you may have to go out of bounds. Trust me, you can win at this debt game! Let’s turn your Xs and Os to dollar signs. The weekly habit of saving money with the She Makes Cents 52 Week BINGO Money Challenge will always be a part of my financial plan. I saved $108.00 dollars for the month of January and today I have crossed off $21.00 putting me at a YTD of $129.00. I can’t wait to see how many thousands of dollars I save again this year. So many of you shared with me that your savings will be going toward vacations and paying down debt. Let’s make sure that you have also included this money challenge into your financial plan so we can see your savings increase and your money challenge rewards materialize. Everyone have a fantastic weekend and Atlanta Rise Up!

Money Challenge | January Savings Recap

Published on January 27, 2017February 28, 2017 by Danielle YB Vason1 Comment

Hello #SMCmoneytribe and welcome to the weekend! We are a month into the challenge with almost 50% more participants than the previous year. Great job everyonet ladies!!! That says to me, they there are people out there making smarter money moves in 2017. What made this year different for me was including the Mr. so we can double the money from this challenge. Full disclosure…. the Mr. decided it was easier for him to remember if he just set a fixed amount of $50.00 per week to the challenge. It makes it easier for him and I like it because even if I cross off a lower amount, I have the $50.00 to add to it.

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Show Me the Money!!!

Week one was all about learning how to win at the She Makes Cents BINGO Money Challenge. For week two, the focus was inspiring you to stay motivated toward your savings goals. It is easy to keep your eyes on the prize in the beginning of the year, also know as Resolutions Season, but getting through 52 weeks is only hard if you lose motivation. Week three, the country paused to witness the transition of presidential power and we did too. Before I knew it, we successfully completed month one of the money challenge. Below is the financial breakdown for the month of January. monthly-review-template

How to Join the Challenge

Want to join the #SMCmoneytribe to get access to a tribe of goal minded accountability partners who are invested in your success and your FREE bingo money guide? Click here, fill in your info, and we will do the rest.

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How To Win on the She Makes Cents Money Challenge

Published on January 6, 2017February 27, 2017 by Danielle YB Vason4 Comments

Happy 1^st Friday of 2017 everyone and welcome to the 2017 version of the She Makes Cents Money Challenge! Need a quick overview of the She Makes Cents Money Challenge?… click here. If you know me, you know I LOVE Fridays. It’s the day I eat tacos and drink margaritas with a sugar rim, it kicks off the weekend, and it’s the day I make smart money moves on the She Makes Cents Bingo Money Challenge! bingo-money-challenge

The Benefits

They say you should do something today that your future self will thank you for and that is what this money challenge is for me and the #SMCmoneytribe. As a part of the #SMCmoneytribe you will take this financial journey with the best accountability partners….other readers like you. Last year I paid off my credit card completely and I am still carrying a zero balance (insert angels singing…seriously can you hear them?). While I have used the money from this challenge to help pay down debt, other members of the tribe have used their savings to go on vacations, pay for professional certifications, holiday gifts for family, and to ramp up their emergency funds. By accepting this challenge, you will gain more than the financial payout… you will gain a new sense of discipline, determination, and better money habits overall.

Should you get off track, you can always catch up or start over, we just ask that you don’t give up on this challenge, your goals, or yourself. YOU can do it and you have an entire TRIBE of people cheering you on!

Double the Fun

This year I have talked the Mr. into participating…sort of like a dollar for dollar matching. For every number I cross off and save, he will match it. If we decided to “double of fun” last year, we would have saved almost $4,000.00 together. I’m doing this with the hubby because we have a shared travel goals and an invested goal to reduce my student loan debt. The cool thing is that you don’t need a spouse to double your savings, you can do this with anyone who you know and trust who shares your goal. Saving for a girl’s trip, why not combine efforts with your bestie(s)?

If you share your progress on social media (which I highly recommend), please make sure you use the hashtags #SMCmoneytribe so the tribe can cheer you on!

How to Join the Challenge

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shemakescents{at}gmail {dot}com | Instagram @shemakescents

{2016 Money Recap} She Makes Cents Money Challenge Success!!

Published on December 30, 2016May 23, 2017 by Danielle YB VasonLeave a comment

Hello #SMCmoneytribe! It’s the last Friday of the year and I am so happy to hear from you all who are completing the She Makes Cents 52 Week BINGO Money Challenge today and tomorrow. I officially finished mine today! In the past three years I have attempted to complete this challenge, I would accomplish a short term goal and just stop. This year, however, I have made it all the way to the end thanks to my accountability partners in the #SMCmoneytribe, as well as, my will to stay focus on my goals of zero credit card debt (mission accomplished) and snowballing my student loans (current goal in progress). 2016-52-week-money-challenge

She Makes Cents Money Challenge vs. the 52 Week Money Challenge

The She Makes Cents Money Challenge is a variation of the traditional 52 Week Money Challenge. In the traditional version, participants save a specific dollar amount based on the corresponding week. For example on week one you save $1.00 and on week 52 you save $52.00. Doing it this way would have you shelling out the bigger bucks in the weeks leading up to the holidays. No Bueno. Also, doing the traditional version only leaves you with $1378.00, which is not bad for money that you would normally spend unintentionally, but it could be better. With the She Makes Cents BINGO Money Challenge, you have the same time period, 52 weeks, but you empowered to decide how much you save on a weekly basis. You control your own money and have the ability to cross of boxes that correspond to your current financial situation at any given time, which is how is should always be. Plus with the bonus boxes you can save $1900.00+.

The Breakdown of Money

This past year, I found myself keeping track of the weekly and monthly savings and comparing the amounts during my frequent progress reports. I saved the most money in the month of January with $286.00 and the least amount of money during the month of September with $76.00. Below is my breakdown of the monthly savings that reflect my grand total savings for 2016… an even $1900.00!!!! 2016-money-challenge-yearly-report

Join the #SMCmoneytribe

Thank you to everyone who did this challenge this past year. It was so much fun. We all cultivated the habit of saving and you might have made a new friend in the process like I did, hi Alysa! Want to join the #SMCmoneytribe to get access to a tribe of goal minded accountability partners who are invested in your success and your FREE money guide? Click here, fill in your info, and we will do the rest. Mark your calender’s for the next round of the challenge starting January 7th!

shemakescents{at}gmail {dot}com | Instagram @shemakescents

{Mark Your Calendars} The 2017 BINGO Money Challenge is Here!

Published on December 26, 2016May 23, 2017 by Danielle YB Vason2 Comments

I only have one more week of the 2016 version of this money challenge and I am excited for the updated 2017 version that starts in January. This challenge is not meant to make you rich, but it quickly shows you how putting aside money here or there (or actually every Friday/Saturday) quickly adds up to something great.

Want to join the #SMCmoneytribe to get access to a tribe of goal minded accountability partners who are invested in your success and your FREE money guide? Click here, fill in your info, and we will do the rest.

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info{at}gmail {dot}com | Instagram @shemakescents

{BINGO Money Challenge} The Easiest Way to Save Money In the New Year

Published on December 17, 2016January 3, 2018 by Danielle YB Vason6 Comments

UPDATE: Click here for the 2018 version of the 52 Week BINGO Money Challenge from She Makes Cents

It’s the season when people begin making new plans to start afresh in the New Year. We make goals/resolutions and we vow to take this great opportunity to reset and do better than the year before. Sound familiar? It’s important that we take time to reflect on this crazy year so we are that much more successful when we start over in 2017. Were your financial goals attained? Did you fall off? Did your goals change? easietway-toavemoney

shemakescents BINGO Money Challenge

This year some of my most basic financial goals included paying off my credit cards, snowballing my student loans, seeing the shemakescents BINGO Money Challenge to completion. For those of you who are new to shemakescents.com, the BINGO Money Challenge is a remix of the popular 52 Week Money Challenge that went viral a few years ago. The original challenge was to make a weekly deposit that reflects the number of weeks of the year. For example, on week one you deposit $1.00 and on week 52 you deposit $52.00 and so on. However, doing it this way will have you shelling out the big bucks during the holidays when people’s money is the most limited. I thought to myself…”Danielle, how can you find a way to honor the challenge in a way that will not hurt you financially?” Then I came up with the idea to create a “bingo” style format. The original version only has a max savings potential of $1378.00 whereas this version has an average of $1900.00+ .

This year, I have been pretty successful with this goal and my other financial goals from the standpoint that I never gave up. There were a few bumps in the road but I pushed through and so many of you did too. In pushing through, I was able to find more efficient ways to work towards my 2017 money goals.

Introducing the #SMCmoneytribe

In reflecting on the past year, I noticed that those of you who participated in the weekly check-ins for the shemakescents BINGO Money Challenge, via Twitter and the Facebook group (click the links to follow), had the highest success rates. For 2017, all those who take part in the BINGO Money Challenge will become members of the #SMCmoneytribe giving you access to personalized check-ins, support of others with similar money goals, and a FREE printable of the 2017 version of the bingo money sheet. Together we will reach our money goals and enjoy the company of other goal-oriented readers. Past members have used their savings for travel, holiday gifts, pay down debt, save for a car down payment, and pay for professional certifications. The sky is the limit with the savings because of the bonus boxes and if you really want to up the ante you can do so by doubling the value of each box.

If you would like the full benefits of joining our #SMCmoneytribe, please click here to download your money card sheet. We would love to have you apart of our group. Did I mention I have saved a little under $1,900.00 with two more weeks to go for the year?? If you have any questions, please feel free to email us at info@shemakescents.com .

shemakescents{at}gmail {dot}com | Instagram @shemakescents

{Money Goals} This Money Challenge Beats All Other Money Challenges

Published on September 10, 2016 by Danielle YB VasonLeave a comment

Hello Lovelies. Welcome to the weekend! It’s time for check-in for the shemakescents 52 Week BINGO Money Challenge (if you are new to shemakescents.com, click here for a recap of the challenge). Today I crossed off $37.00 on the BINGO Challenge putting me at a year to date total of $1498.00. My year to date total is just one example of how this version of the 52 Week Challenge can help you double your savings opportunity. The original version caps your savings potential at $1378.00, which I have already surpassed. From January to July, I used this money to help me pay down my credit card payments faster. From July to today, I have saved $800+ on this challenge to make a principal payment to my student loans once I get to the $1000.00 mark.

How can you save too?

The great thing about this challenge, is that you can start anytime and it works on everyone’s budget. Just email us at info@shemakescents.com for your FREE copy of the BINGO Money Challenge sheet. The best way to stay in the challenge is to join our Twitter/Facebook check-ins so that you have the support of the community of readers participating in the challenge. To join the twitter check-in, simply tweet me!

Tweet: I joined the @shemakescents 52 Week BINGO Money Challenge to help me reach my #moneygoals.

shemakescents{at}gmail {dot}com | Instagram @shemakescents