Monday Motivation | Cultivate Better Habits

Not too long ago I read this quote from the top financial expert, Dave Ramsey, and I knew it was too good not to share.  “You can’t get out of debt while keeping the same lifestyle”.  Often times we want results for our lives that’s different from our current situation.  The thing is, you have got to change your habits if you desire a different outcome.  If your goal is to upgrade your financial situation, you have to upgrade the effort you put into your goals to see the results.  Increase your income + reduce your spending = the start to a great plan.  Last Friday, I had a three-week profit from our BINGO Money Challenge of $383.00 that could have easily paid for a pair of shoes.  Instead of living the lifestyle that is keeping me in a stagnant financial situation, I snowballed that $383.00 and threw it directly at my student loans.  The gratification I get from a new pair of shoes is nothing compared to the natural high I get from getting closer to my debt free goal.  

Money Quotes from Dave Ramsey on Personal Finance Blog, She Makes Cents

Today, I encourage you to use this week as a week of self-reflection.  What habits do you want to cultivate?  What habits do you want to quit?  We know what each of our end goals are but we often are blind to the things we do to ourselves that sabotage those goals    Start thinking about the things you do every day and how they affect your money goals.  Yes, you can upgrade your financial situation, but you have to upgrade your actions first because your actions become habits… good or bad.

52 Week BINGO Money Challenge | May Recap

Hello lovelies and welcome to a 3-day weekend! Congrats to everyone who is going strong on the She Makes Cents BINGO Money Challenge.  It makes me so happy when members of the #SMCmoneytribe share their progress and uplift each other.  I also love hearing how so many of you are making the challenge work best for you and your lifestyle.  For example, Angela from Australia wanted to maximize her savings for an anniversary trip to the United States, so I created a custom double version for her and her husband.  As of May 1st, they have already saved $1032.00 and that money is constantly growing for them!!!!  Some are saving a fixed amount every month (hey Kechia) but all in all, the majority of you are tackling this challenge the good ole’ fashion way…one week at a time with your trusty money card sheet.  Regardless of where you are in your progress, you are already winning at the habit of saving.  There is a quote that I really like from Roger Crawford that says, “Being challenged in life is inevitable, but being defeated is optional”.  Every person who has accepted this money challenge is refusing to allow their money or lack of it defeat them.  Every dollar you save is getting you that much closer to your dream vacation, it’s getting you that much closer to paying off debt, or that much closer to building your emergency fund.  While everyone’s goals are different, just know that you can do it and that you have an entire tribe of women behind you to help cheer you on along the way.“Being challenged in life is inevitable, but being defeated is optional”. | Quotes on She Makes Cents

My Growth on the Money Challenge

My progress on the money challenge is much different this year than years past.  My sources of income have changed and I no longer get paid on a consistent schedule, but rather on a client by client basis.  Ugh…entrepreneurial life at its greatest!    At this point in the challenge, I am usually hundreds of dollars ahead of my current progress.  For half of a second that bothered me because I am always trying to be better than I was before.  The beautiful thing is, this challenge is made to support the one’s financial changes and in the end that numbers are the same if you complete the challenge.  As long as I complete every box, I will end up in the same savings range as the years before.  What difference does it really make if I am crossing out low to mid numbers during the first part of the year and higher numbers toward the end of the year?  It actually makes no real difference at all.  In the effort to save more money this year than any of the previous years, I must focus on the four bonus boxes that are still empty on my money card.

Sharing Money Goals

Do you remember when I announced that the Mr. would be joining me in the challenge?  Well, he just started last month.  For him, doing the weekly version of the SMC money challenge was another thing added to his “honey-do” list that he never got around to.  That is one of the reasons it took him four months to join in.  He later suggested, instead of doing a dollar for dollar match, that he might try contributing a fixed amount every paycheck toward the challenge.  So far his YTD contribution has been $500.00!  From a financial standpoint, the numbers at the end of the year will be higher doing it this way than if he were doing a dollar for dollar match, because $250.00 per month translates into about $62.00+ per week and $62.00 will always be higher than $52.00, our highest (non-bonus) box on the money card.  It’s easy for him, it works for me, and it gets us closer to our debt free money goals.

Related Article: How to Win on the She Makes Cents Money Challenge

May Recap 

For the month of May, I saved $89.00 which puts me at a YTD of $376.00 by myself and $876.00 when combined with the Mr.   Every dollar saved on this challenge is helping me pay off my student loans.  Outside of our mortgages, this is the only debt we are carrying because we work hard to pay off any credit card debt that we rack up before each billing cycle.  At the end of April, I made my first lump sum payment of $679.00 toward the principle and I had originally planned to make a lump sum payment every quarter.  However, after seeing my payment drop a new passion for hitting certain milestones was reignited.  Now, I plan to make a lump sum payment every time the balance in the money challenge is over the $225.00 mark.  At the beginning of the year, my main money goal was to have my student loans under the $15K mark by the end of the year, but I decided to up the ante and push that goal date to the end of August (my birthday month).

I can’t wait to hear your progress on this challenge.  Please feel free to tweet me @shemakescents, email me, or stop by our Facebook page to say hello.  I love hearing from you and I love to hear your progress, motivation, struggles, and suggestions.  Until then, happy saving to you and yours.

Want to join the challenge?  Click here for your FREE money card download.

HOW WOULD YOUR LIFE CHANGE IF YOU ACCOMPLISHED YOUR MONEY GOALS?

 

 

 

Money Challenge 2017 | February Savings Recap

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.

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 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!


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Money Challenge | January Savings Recap


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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What The Navient Lawsuit Means for Student Loan Borrowers

The government or more specifically the Consumer Financial Protection Bureau (CFPB)  filed a lawsuit against Navient, the nation’s largest student loan service provider last week. Navient is the twin sister to the head of the student loan mafia, Sallie Mae, Inc. that services the loans of more than 12 million borrowers, including my own.  As a loan service provider, they manage borrowers’ accounts, process monthly payments, and communicate directly with borrowers.  The suit was filed on January 18th  with another following just days before the transition of presidential power.navient-lawsuit

According to the CFPB Director, Richard Cordray, “Navient chose to shortcut and deceive consumers to save on operating costs. Too many borrowers paid more for their loans because Navient illegally cheated them and today’s action seeks to hold them accountable.” Some of the most pressing allegations include failing to correctly apply or allocate borrower payments to their accounts, steering struggling borrowers toward paying more than they have to on loans, obscured information consumers needed to maintain their lower payments and deceived private student loan borrowers about requirements to release their co-signer from the loan.  

What That Means for You?

If this lawsuit is successful, consumers affected by Navient’s alleged misdoings may receive some monetary restitution.  Don’t get too excited yet.  This is not a class-action suit that you can sign up for.  According to ClassAction.org, “Attorneys usually find out those who were affected by looking at the defendant’s records in a phase of the litigation known as the discovery phase. People who could be covered by the suit are usually sent a notice or check in the mail. The agency that filed the lawsuit will also have information on their website about the suit and who can claim money in the event of a settlement”.

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How to Stay Motivated To Save Money


she makes cents money blogHappy Friday #SMCmoneytribe.  I am coming to you on week two of the She Makes Cents Money Challenge to talk about the subject of motivation.  I imagine most people join this challenge for one major reason; they want their future financial situation to be better than their current circumstances.  This can be with respect to a very specific goal, such as saving for vacation or it could simply be the catalyst to fostering better saving habits like starting an emergency fund.  Either way, you accepted the challenge and are in it to win it, so I ask you…what keeps you motivated?

How I Stay Motivated

It’s very strange to say, but I am just as motivated by not disappointing readers like you as I am to clear my now $18,025.00 balance on my student loans.  This goes back to the idea of the #SMCmoneytribe and the village of supportive accountability partners who know my goal and know my progress.  Should I miss a week, which has happened before…hey, I am human, I think about all the people whom I’m sharing this experience with and I do whatever it takes to catch up.  I tell people all the time, if you get off track, either catch up or start over but don’t give up.Quotes

Watching my balance go down is also a very gratifying feeling.  I know where I started, I know where I want to be, and I know that timeline I have given myself to accomplish my ultimate goal to be completely debt free, not including my mortgage, within the next 3 years.

When I had credit card debt, I would allocate the weekly deposits from this challenge along with a monthly set payment of $300.00 to pay off my balance quickly.  Once I eliminated that debt, I set aside that $300.00 + the weekly deposits from this challenge to make quarterly lump sum payments towards my student loan principal.  This, my friends is what you call snowballing your debt.  I know how I excited I get to see my balance on the student loans go down at the slow pace it is currently moving since so much of the payment goes towards interest and not the principal.  The idea that my balance is about to make a major decrease by attacking the principal head on is the fuel I need to keep me motivated toward my larger goal of debt-free living.

Week 2 Update | She Makes Cents Money Challenge

For week two, I decided to cross off $25.00 on my bingo money card.  Since the Mr. and I are joining forces this year, that gives us a joint year-to-date (YTD) total of $145.00.

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What’s Your Motivation To Save? Please share below

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