How To Win on the She Makes Cents Money Challenge

Happy 1st 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 hereIf 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 Fundanielle-yb-vason-and-michael-vason

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

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.  

smcmoneytribe

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

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!

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

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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{2017 BINGO Money Challenge} The Easiest Way to Save Money In the New Year

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.

Related Post: {Reader Success Story} A Shockingly Easy Way to Save Money for Fun2017-tribe-quote

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 .  

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

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.  shemakescents money challenge

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.

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{YTD Update} 52 Week BINGO Money Challenge

She Makes Cents

As we approach the end of week 33, I must say, staying  on top of the 52 Week BINGO Challenge is taking a little more discipline, for me, than in past weeks.  I had a goal to pay off my credit card by August 1st and I beat that goal by a month.  How, you ask?  Well, the closer I got to a zero balance on that debt, the more aggressive I became with this financial goal.  As always, I paid more than the minimum balance and started dumping any and all unassigned money toward that goal.  In working toward the big credit card payoff, I developed a solid habit of saving.  Now that this first goal is done and the high of the gratification is dwindling down, it does look slightly daunting when I look at my next goal on the snowball– my student loans with it’s $18,593.25 balance.  Ugh!!  I plan on making quarterly payments towards the principle with the money that was previously allocated to my credit card minimum + the 52 Week BINGO Challenge to shave off years of interest and thousands of dollars.

Related Post: {Debt Management} How to Shorten the Length of Your Loans & Reduce Interest

52 Week Challenge

Heavy Chains of Habit- Good or Bad?

Chains of habit are too light until they are too heavy to be broken.  Think about it like this, if you are in the habit of putting money aside every week, at the end of the year the weight of your weekly sacrifice would be greater than if you only saved for one week and then gave up.  Every week, saving $10.00 here, $70.00 there, $100.00 every once in a while might not seem like a big deal at the time, but every penny adds up.  Every time you save makes the habit of saving that much stronger.  The same can be said for  bad habits.  Spending $10.00 here and $70.00 there may not seem like a big deal in the moment.  But over time, that random spending becomes a bad habit and the weight of your debt becomes a heavy burden to carry.

YTD 52 Week BINGO Challenge

Doing the original 52 Week Challenge would result in $1378.00 for the entire year.  Doing the #shemakescents BINGO version has me at $1395.00 YTD with another 19 weeks to go for the rest of the year.

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{Reader Check In} How Are You Doing?

I wanted to take a moment and check-in  on you, readers of shemakescents. With all that is going on in the world know this, you are loved and you are important. Here at shemakecents.com that love and importance of human life transcends race, gender, class, socioeconomic status, sexual orientation, and any other ways that people are discriminated against. Be safe out there and keep pushing toward whatever goals you what to meet.52 Week Challenge

With that being said, I want to encourage those of you who are still committed to the 52 Week BINGO Money Challenge. I am so proud of you! Saving money is the easiest part, the discipline to be consistent every week is the challenge. Today I crossed off $19.00 which puts my at a total savings of $1,194.00 (YTD).  I am so close to my 1st goal of paying off my credit card balance largely in part to my discipline and support from other people in the challenge.  The goal is to go into the month of August with a zero credit card balance.  Stay tuned!

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 If you would like to leave an encouraging message below or an update on your savings goals, I invite you to do so in our comments section below. 

{Financial Cents} BINGO Money Challenge Hits MAJOR Milestone

Coins of Knowledge

Hello Lovelies!  I have some exciting news to share with you this morning.  Yesterday I crossed off $14.00 – doesn’t sound too exciting yet, but wait for it….. – on the 52 Week BINGO Money Challenge.  That $14.00 put me at the $1,000.00 mark for this money challenge!  –INSERT HAPPY DANCE!!!!

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On the same day that I hit the $1,000.00 mark in savings, I also hit the under $1,000.00 mark in my credit card balance!!!  While I am proud of the financial gains made in the first six months of this challenge, I am even more excited about the about the savings habits I have created for myself.  I believe that creating a healthy savings routine is the first step on my journey to DEBT FREE living.  I was chatting with a girlfriend of mine who made the observation that I have only been focusing on saving and not making increasing my sources of income a priority.  In a lot of ways she was correct.  I have placed a serious focus this year on saving because in the past, I would start the year strong with savings goals and plans for myself only to find some of them abandoned by mid-year.  That being said, splitting my focus between increasing streams of income and saving would have only created more problems at that point in my journey when I wasn’t steadfast in making saving a priority.  The phrase, “More Money, More Problems”, exists for a reason.  Without a healthy savings routine and more income coming in, I could have easily  created more debt and worsen bad spending habits.  I have spent the first six months of this year really focusing on correcting past bad behaviors and replacing them with healthy habits.  Now that I have solid saving habits, I can start also focusing on increasing income and using that increase to move on the next snowball in my overall financial plan- student loans debt. I attribute my success to personal will, saying no to social (sometimes), and having accountability partners, like readers of She Makes Cents to help keep me motivated.  I would love to hear how you are doing with this challenge… the good, the bad, and the ugly.  

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{May Recap} 52 Week BINGO Money Challenge

Coins of KnowledgeHey lovelies! I wanted to do a quick check-in this morning to see how you are doing on the 52 Week BINGO Money Challenge. I am well on my way with 23 boxes checked off (not including 3 bonus boxes) and step one of my snowball goal almost at the under $1,000.00 mark! Here is how the numbers are breaking down between January 2016- and May 2016.

As of yesterday when I crossed off $22.00 on the BINGO Money Sheet, I have saved a total of $938.00. Since June is the halfway point to the year, it is the perfect time to reset your goals if you have fallen off. The good thing about this challenge is that you can start at anytime and you can use the money for any goal. Right now, I am still using this money to pay down my credit card debt faster.  What started off as a $5,000.00 credit card balance at the beginning of the year is now down to $1437.00. After that, I will then snowball that money to knock out my student loan debt. After that…the sky’s the limit. This can be play money, shoe money, vacation money, or by that time… 529 Plan money for a future kiddo.

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{Week 17 Update} 52 Week BINGO Money Update

Well hello lovelies.  Certainly, I could not let the week go by without at least giving you an update on my progress.  Last week I was so pleased by the kind reception and celebration of shemakescents reader, Alysa, who saved a total of $515.00 so far (read her spotlight here, she is pretty awesome).  Her dedication to her goals is inspiring and she agrees that this challenge is an easy way to save money!   Today, I wanted to close the week letting you know that I have crossed $31.00 off of my 52 Week Bingo Money Sheet, which puts me at $143.00 saved so far this month.  Year to date I have saved  an extra $621.00 toward my current financial goal.

Bingo Money Sheet- Progress Pic

The great thing about this challenge is that you can alter it to fit your personal goals and lifestyle.  I start every year on the first Friday of the year, but you can start anytime.  

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Quick Tip:  If you have a larger savings goal, you can double up the numbers for a minimum of   $3800.00 before you even cross off the bonus boxes!