52 Week Bingo Money Challenge Milestone

Published on April 5, 2016April 5, 2016 by Danielle YB VasonLeave a comment

If I told you the last five days have been a whirlwind, I’m not sure you could even comprehend what I mean. In the past five days I served as a juror on a trial for two days, driven from Atlanta to Jackson, Mississippi, attended a funeral, got back on the road for the six-hour car trip home, just in time to make it to a Sunday wedding for my sorority sister. That being said, I missed last week’s check in and the March recap of the 52 Week BINGO Money Challenge.

Check out a few pictures from the wedding!

For the first week of April, I decided to cross off $23.00 + a bonus of $75.00. My first April contribution, including the bonus, is only $4.00 less than my entire last month’s savings. I’d say I am off to a good start for month. Overall, I have a saved a total of $556.00 that I have been using to make extra payments toward my credit card debt. Every extra payment is helping me shave off the repayment term, shave of compounding interest fees, and is improving my credit score because my debt to credit ratio is increasing. I would LOVE to have my credit card balance under the $500.00 mark by the end of May. With a balance of $2400.00+, only time and discipline will tell. Until then, I will keep crossing off numbers on my BINGO money sheet.

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

{Every Woman Should Have} The Protection of a Slush Fund

Published on March 29, 2016March 29, 2016 by Danielle YB Vason2 Comments

This is not a typical savings post, but a post that might just save you. I learned a very adult lesson when I was just a teenager watching a friend’s mother pick up the pieces after a messy divorce. To my knowledge, it was he who messed up…..so how in the world did she have to downgrade the lifestyle that they built together and he upgraded? The simple answer, he probably had the better lawyer. They shared an account but she didn’t have an account all by herself. At 15 years old, I learned that life happens and not everyone gets the happily ever after they were expecting. More importantly, I learned that every woman should have a her own money. I vowed that would NEVER be me. That was the year I started saving my own money.

The Protection of a Slush Fund

Creating a Slush Fund for yourself isn’t a selfish act nor does it have to be a sneaky one. In this post, Fortune Magazine author, Jean Chatzky, cites a study conducted by Princeton Research Associates for CreditCards.com. According to the study, “7.2 million Americans (4.4 million men and 2.8 million women to be precise) have a bank account or credit card that their spouse or live-in partner doesn’t know about”. That kind of omission in a relationship is not my personal cup of tea. I believe in the “yours-mines-ours” approach where the lines are clear and the division of funds works for both parties. This “Yours-Mines-Ours” strategy is me taking an active role in my personal finances and joint finances. Gone are the days where women are expected to blindly allow their spouses to run their financial house without know how the money is flowing in and out.

Regardless of your relationship status, YOU have a responsibility of building your financial house on a stronger foundation. Be proud of that. Be clear about your expectations. Be smart about your money. Every woman should have a protective slush fund because no one can protect you like you.

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

You’re married, so should you have your own slush fund?

{Week 13} 52 Week Money Challenge Bingo Style

Published on March 28, 2014April 4, 2014 by Danielle YB VasonLeave a comment

Someone recently asked me “what was the point of doing a money challenge, it’s not like you are saving a substantial amount?” My reply was simple, “every little bit helps me get one step closer to my goals”. I am very serious about having a zero balance on my credit card by August 1, 2014 and using funds saved from this challenge helps me pay off my balance faster. Today, I crossed number 17 off my bingo style money challenge sheet which gives me a grand total of $319.00 additional dollars added to help pay off the balance on my cards. A while ago, I decided that instead of payment the minimum + the 52 Week Challenge weekly payment I would decide on a set payment to make every two weeks and add the money from the challenge on top of that. This has allowed me to chop off interest payments as well.

How Are You Doing On the Challenge?

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