Fix Your Finances – Page 7

{Week 2 Progress Report} 52 Week BINGO Money Challenge

Published on January 8, 2016May 23, 2017 by Danielle YB Vason15 Comments

It’s the start of the year and people are still very focused with their resolutions. For some, the 52 Week BINGO Money Challenge is another goal on their resolution list. For me, it has to be a lifestyle. For the past few years, I have accepted the challenge to save for a specific amount to help with paying down my credit card, saving for the holidays, or even saving to help out with my wedding to the Mr; however, once I accomplished the goal, I fell off. I was doing well with a zero balance and then I started to swipe my credit card for wedding expenses so now I am back to the beginning of Dave Ramsey’s Baby Step 2. That’s why they call it a challenge because it is challenging.

This year, I am back at the goal of wiping out my $3,886.78 credit card balance completely by or before May 1, 2016. My plan is to pay a set amount every two weeks plus the savings from BINGO money challenge, every Friday. Once the credit card balance is non-existent, I can start snowballing my student loans so I can shorten the length of the term dramatically and reduce the amount of interest I would have to pay back. Today, I marking off number 40 on my Bingo Money Sheet (leave a comment below for your FREE copy of the 2016 BINGO style sheet).

What Are You Using Your BINGO Savings For?

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{Super Charge Your 2016 Savings} 52 Week Money Challenge Like You Have Never Done Before!

Published on January 1, 2016May 23, 2017 by Danielle YB Vason22 Comments

Financial Affirmation: “I am aligned with the energy of wealth and abundance”.

Photo Credit- Colin Anderson (Getty Images)

It’s the first Friday of 2016 which means it is time for the Bingo Style version of the 52 Week Money Challenge. For the past few years, I have used the bingo format to help pay off my credit card debt, save for the holidays, and save for a little extra for a wedding. This year, I plan on using the extra money from this version of the challenge to get my credit card balance back to zero (another story for another day) and start snowballing my student loans.

Here Is How It Works!

I’m sure you have seen the original challenge floating around the internet where you 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. One year, I even attempted to do the original challenge in reverse by saving more money at the beginning of the year and less the closer we get to the holiday season. The only problem with doing it that way was that I was shelling out a lot of money right after the holidays when… for most people, money is still a little tight. 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. At the end of the year, I would still end up with the same amount of $1378.00 and if I am having a tough financial week, I can pick a lower amount to save. The good thing about the bingo challenge is that you are able to start at any time and if you get off track, it’s easy to see where you need to make it up to get back on track. 52 Week Challenge

What Makes 2016 Different?

The power of choosing how much you want to save is what has always made the Bingo Style different from the original 52 Week Challenge. This year, though, we have upped the ante and included optional bonus+ boxes for those who are able and willing to push themselves further on this challenge. It will take more sacrifice, but it will help you gain more strength and momentum toward your financial goals since you will be saving a minimum of $1928.00 versus $1378.00.

Check Ins

You know goals are more likely to materialize when we share them with others. That being said, check ins will take place on Fridays at noon where I will share my progress on the challenge and its effect on my overall financial goals and I encourage you to do the same. I love hearing your stories of how you are doing in the challenge and the financial milestones you have accomplished by making saving a habit of your daily life. Sometimes doing it with a friend or even a blogger friend like me, keeps you better motivated since you aren’t in it alone. If you have questions, comments, or suggestions, shoot me a line below or email me for the latest Bingo Style Money Challenge, free to shemakescents readers!

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{2015 Week 11 Update} 52 Week Money Challenge

Published on March 13, 2015March 9, 2015 by Danielle YB Vason1 Comment

I believe that through knowledge and discipline, financial peace is possible for all of us. -Dave Ramsey

I’ve been contacted by quite a few of you asking for a copy of the 52 Week Money Challenge, which shows me that I am not the only one looking to save money. While you won’t save a MAJOR windfall doing this challenge, you will gain financial discipline. It’s harder than you think to get in the habit of saving but once up pick up the skill, it’s well worth the effort. If you are new to She Makes Cents, I am happy to report that I paid off my credit card doing this challenge as additional payments over the minimum. I am now adding this extra money to my wedding savings account after I see how much I have left from doing a zero based budget…aka, my saving grace!

How Are You Going Use Your $1300+ ?

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{Mobile Money} 3 Fool Proof Tips to Keep Your Mobile Banking Secure

Published on January 21, 2015January 21, 2015 by Danielle YB Vason2 Comments

I remember not too long ago when mobile banking and payments was taboo. It was thought to be unsafe by many people; a scary black hole in which unsuspecting users where trusting their entire financial lives. Today, this is not the case. Even with constant public breaches of personal information, consumer comfort seems to be at an all time high. Instead of the traditional wallet with several forms of payment, people are leaning on the convenience of the mobile wallet. Perhaps, it is the evolution of technology and one’s daily mastery use of it or even the ease of access that makes cashing a check by taking a picture instead of driving to the bank, that much more appealing. With an estimated $8.6 billion (that’s billion with a “B”) annually of card payments fraud, what should you do to keep your money and information secure?

Free Wifi + Mobile Payments = No Bueno. Logging on to free Wi-Fi in public spacing is like holding up a neon sign saying, “Please rob me”. The reason for this is that public Wi-Fi is simply that…..public. It is not encrypted since you don’t have to enter a password for access. That is to say, that those who also share the network with you have access to certain sites you visit, even those with the https:// in front of it, which denotes a secured website. Want to keep your access secure white using public Wi-Fi? To start, only visit sites that don’t require you to enter a password like SheMakesCents.

Log Out. When you sign into your mobile banking, look at the balance of your student loans, or pay a bill through online bill pay, it is imperative that you not only log out when finished, but close the tab. Cell phones and other mobile devices store so much of your private information that has the ability to collect your personal data when you visit other sites. Think about it, if you had your banking tab open at the same time as your Facebook tab, for instance, you might start seeing banking ads in your timeline.

Stored Mobile Payment Information. Keep track of the apps that you allow to store your payment information. With all the conveniences of iTunes, services like Zifity who bring food to your front door, Uber who provides car service and even Fandango the movie ticket savior (I hate standing in long lines) it’s easy to lose track of who has access to your credit card/ banking information for mobile payments.

To enjoy the convenience of mobile banking and payments, is to make smart decisions, be as proactive as you can to protect your devices and access to your information. Data breaches happen and for those highly skilled hackers these tip may not matter. But if you are on top these fool proof suggestions, it can make it harder for the average Joe to prevail in robbing you blind.

Let’s Get Social!

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{Cash Is Fab} How One Girl Resolves to Never Use Plastic Again!

Published on January 11, 2015 by Danielle YB Vason6 Comments

This morning I was cleaning out old files from the computer, aka procrastinating writing my next blog post, when I found an old resolution. I wrote in it December of 2013 but never posted it. I decided to post it today, however, to show what a year of working toward financial goals looked like for me. I encourage you to write down your goals so you can have a reference of just how far you have come and then take a step back and acknowledge your progress. Check out my 2014 financial goals below:

Cash Is Fab! How One Girl Resolves to Never Use Plastic Again!

Some people hear the word “resolution” and immediately shutter. I on the other hand, look at resolutions as a new beginning… a do over to do better. Hey, if you don’t like the word resolutions, substitute it for goals because everyone knows that goals are AWESOME! This year I resolve to pay off my credit card balance before my birthday in August, kick start my snowball toward financial freedom, and say no to plastic forever (ambitious, right?). I am working toward this goal by paying a set amount every two weeks (each payment over the monthly minimum) and doing the 52 Week Money Challenge (Bingo Style) every Friday. If I were okay with just paying the minimum, it would take me 4 years, instead of eight months, to complete step one of my financial plan. The Bingo version of the challenge plays a big role in completing my financial resolutions because if I am having a tough financial week, I can pick a lower amount to save. Once the credit card is paid off, my monthly credit card payments (including the 52 Week Challenge savings) will become extra payments to my student loans and so on until I have zero debt. I keep myself motivated by constantly reminding myself and my accountability partner, The Mr., of my ultimate goal to pay of all debt, credit card, student loans, and mortgage in the next ten years. If I can’t afford to pay for it in cash, I can’t afford it!

Now, one year later my credit card balance is not a concern because it is non-existent. I sometimes forget about the stress that carrying a credit card balance had on me. Yes, I paid my credit card off and before my target date by doing this risky move, which worked and then immediately backfired. I also think about how my snowball plan for my student loans has been transformed into a snowball for my October wedding expenses to the Mr. Boy oh boy, what changes can happen in a year.

Finish the Sentence: I Resolve to ________

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{Super Charge Your 2015 Savings} 52 Week Money Challenge | Bingo Style

Published on January 1, 2015May 23, 2017 by Danielle YB Vason10 Comments

Can I get a “BINGO”? It’s a new year, which means it is time for the 52 Week Money Challenge. I can tell by looking into my stats for the She Makes Cents that people are researching ways to save money in the new year. I mean really, we can all do something a little different with our financial decisions that will set us up for financial success. For the past two years now, I have taken part in the 52 Week Money Challenge. In participating for the past two years, I created a simpler way to save that was both lucrative and effortless. My She Makes Cents Bingo Style Sheet, free for She Makes Cents readers, has made it easier for those participating in the challenge to save money on one’s own terms. Using my Bingo Style Sheet has helped me to pay off my credit card debt, save for the holidays, and start saving for my wedding in October.

How Does It Work?

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 27 you deposit $27.00 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. At the end of the year, I would still end up with the same amount of $1378.00 (without doing any of the bonuses) and if I am having a tough financial week, I can pick a lower amount to save. The good thing about the bingo challenge is that you are able to start at any time and if you get off track, it’s easy to see where you need to make it up to get back on track.

Still Need Motivation?

I will post my progress on Fridays and I invite you to keep us up to date on your progress. I love hearing your stories of how you are doing in the challenge and the financial milestones you have accomplished by making saving a habit of your daily life. Sometimes doing it with a friend or even a blogger like me, keeps you better motivated since you aren’t in it alone. If you have questions, comments, or suggestions, shoot me a line below. Happy Saving!

How Are You Going Use Your $1300+ ?

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{50/20/30} Beginner’s Guide To Saving, Spending, & Living Life

Published on October 21, 2014November 24, 2014 by Danielle YB VasonLeave a comment

I always say that every financial rules may not work for you and your financial situation. No one can tell you exactly what amount to save, what amount to spend, and how exactly you should invest; however, when people find something that works…you should find a way to make it work for you.

Three percentages that may change the way you live, spend, and save are the 50-20-30 rule, as explained by the good folks over at Forbes.

Check it out!

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Food For Thought: Finances & Job Security

Published on October 13, 2014October 13, 2014 by Danielle YB VasonLeave a comment

Truth- There is nothing secure about job security. In fact, the emotional and physical stress that people experience over worry of losing a job and not being able to keep up a lifestyle or provide for a family is all too common. According to this article from the Wall Street Journal, “As many as two-thirds of people in the U.S. don’t have the recommended six months of expenses saved. The percentage of people with savings enough to cover at least three months shrank to 40 % in 2014, compared with 45%, a year earlier.”

So when do you make a plan for the worst? Well, it’s better to have one in place before you need it…and I hope you will never need it. Having the recommended six months of expenses is just that- a recommendation. You have to figure out what amount works best for you and if you are like me, having a goal and a plan to get more than the recommended amount would put my mind at ease, since it can still take more than six months to secure a new place on your career path. The good news is, it is never too late to start protecting yourself financially. Are you saving enough? If not, don’t undercut yourself by saving a little this week and skipping next week. Get in the habit of paying yourself first! You owe it to yourself and those you support to be financially secure in a world where job security isn’t secure.

Companies are downsizing, departments are being eliminated, and employers are trimming the fat. If you lost your job today, how long would you be able to survive financially?

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Beginner’s Guide to: Understanding Financial Terms

Published on September 22, 2014January 5, 2015 by Danielle YB Vason2 Comments

As a millennial woman, I know many of my peers shy away from conversations about money and becoming financially fit for fear of looking dumb for not knowing the basics. Financial terms are spoken and we hear Charlie Brown’s teacher and stop listening. I want to help break down self-imposed barriers that could be keeping us from confidently making smart money moves. In an interview for Mint, I was asked off the record if I thought that women view money management differently than men. While some people believe women are not confident in making big financial decisions, I’m inclined to disagree.

When armed with the proper tools to make sound financial choices, women prove to be confident, powerful, and commanding in their financial choices.

Every week, She Makes Cents will introduce a financial term with hopes to empower you to expand your financial literacy. For some this is a refresher and for others, it may be the first time that you understand, what these terms mean and how they affect YOUR money. Either way, you are arming yourself to take the lead in your own financial situation and achieve the goal of living the fabulous life while being financially savvy!

If there is a financial term you want explained, shoot us an email and we will answer it on the site. Stay tuned tomorrow when we talk investments and returns.

Let’s Get Social!

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Mint Interviews Danielle Y. Boler of She Makes Cents

Published on July 30, 2014June 29, 2017 by Danielle YB Vason5 Comments

Back in March, I was contacted by an Editorial Assistant for Mint asking if I would be interested in doing an interview. I interview people all the time, but rarely am I on the other side of questions. Excited and a little nervous, I agreed. Yesterday, they contacted me to let me know that the interview was published.

Danielle Boler hopes to start a conversation about how women can make smarter financial decisions and live a fabulous life on her blog She Makes Cents. When it comes to how women view money compared to men, Danielle says she believes women are more cautious – which can be a double-edged sword. On the one hand, saving more creates a good cushion for emergencies and other unforeseen events, but it can also prevent big financial gain. “Some believe it’s because women are not confident in making big financial decisions. I’m inclined to disagree,” she says. “When armed with the proper tools to make sound financial choices, women prove to be confident, powerful and commanding in their financial choices.” In the end, diversifying your financial portfolio (no matter what your gender) is important on every income level to make your money work for you, she says.

We recently checked out with the sassy blogger to learn more about her site and get her take on personal finance. Here’s what she had to say:

Click here to read the full interview and find out financial freedom is important!