{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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{Life Skills} How To Comeback From A Setback

Goals and Setbacks

I came across this quote the other day and I thought it was too good not to share.  I talk and write about goals all the time, but I rarely write about how to stay on track after a setback.   In the simplest of definitions, a setback occurs when there is a reversal in progress.  Last year, I had a slight financial setback when I put a few thousand dollars on my previously paid off credit card.  I consider this a setback because it literally set me back and an entire year of my money snowball and the added interest I will be paying to make up that year is definitely a reversal of progress. This year, my setback was not being exactly where I wanted to be career wise.  This is something that has stressed me out a great deal until I realized this is my arrow year.  They say an arrow can be shot only by pulling it backward so when life is dragging you back with difficulties, it means that it’s going to launch you into something great.  I hope this post launches you back onto your chosen path to greatness.

4 Steps to Come Back from A Set Backsetbacks-and-come-backs-she-makes-cents

  1. Question Your Goals.  Are the goals you set for yourself still relevant?  What was important to you six months ago, may not even be on your radar anymore.  That being said, it is okay to abandon goals that you have outgrown for more relevant endeavors.   Take a step back and examine your career, relationships, and finances and decide what’s worth resetting and what can be let go.

  2.  Setbacks Are Meant for Learning.   Okay, so your proverbial “tire” got a flat.  What was your lesson?  Was it to slow down?  Focus more on the road ahead?  Lean into the curves that life throws you?  The only waste of a setback is not learning the lesson.  A lesson missed is a mistake waiting to be repeated.

  3. Break Down Your Goals Into Smaller Manageable Goals.  Sometimes people have a reversal in progress when they get overwhelmed by the task at hand.  It’s like eating pizza.  You shouldn’t be able to eat the entire pie at one time, you have to eat it slice by slice.  Weird example, I know… but you get the point.  Here’s something a little more personal.  I have a goal to be debt free (not including our mortgages) in the next five years.  If I looked at the $27,000 in credit card and student loan debt in its entirety, I might have easily gotten overwhelmed with my goal.  I had to break it down into smaller manageable goals.  First I separated the debts- $5,000.00 for credit cards and $22,000.00 for the remainder of my student loans.  I then set separate goals dates to be done with the debt.  For example, my goal was to pay off my credit card debt by August 1, 2016,  and I am happy to report that I accomplished that goal ahead of time.  I did that by setting weekly goals with the 52 Week BINGO Money Challenge and bi-weekly goals of making a minimum $150.00 payment every two weeks regardless of the minimum payment.  With the credit cards out of the way, I am now able to snowball that money to tackle  part two of my student loans and knock out that remaining debt in four years or less.  

  4. Set a Goal Date & Get Her Done.  In this post, “{Got Goals} How To Make and Achieve Your Goals” I break down the tools needed to complete this step.  Check out the post and you will see what I’m talking about.  Don’t forget when breaking down your goals into smaller manageable goals to assign milestone markers for you to stop and reflect on your progress. When I got my credit card under the $1,000.00 mark, I stopped and patted myself on the back because I could see my achievements in the near future. shemakescents-com

{February Recap} 52 Week BINGO Money Challenge

Happy Saturday Lovelies!  I was about to do my regular weekly  update when I realized that the month of February is technically over (based on our BINGO schedule).   Oh how the time flies.  This week I crossed off $25.00 on the shemakescents BINGO money sheet.  Looking at my numbers, I was definitely able to save more in January than I was this month.  I am very proud of my progress and commitment  to this challenge and I am so very proud of those on this challenge with me.  I have heard inspiring stories from college students, mothers, couples, and career millennials.  This reveals to me that this challenge is helpful and fun for a diverse group of people.  My goal for March is to exceed the savings from January (the month  to beat). Since March 1st marks the 5th year anniversary for shemakescents.com I want to do it big!!

52 Week Challenge

Recap By The Numbers

January- $286.00

February- by the weeks

Year to Date Total: $396.00

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{Financial Cents} Is Your Way of Thinking Making You Poor?

Just as slaves born into slavery can’t visualize freedom, we Americans don’t know what it would be like to wake up to NO debt.
Dave Ramsey, Total Money Makeover

Is Your Way of Thinking Making You Poor.pngYour alarm clock sounds, alerting you that a new day has come. You awake to find yourself owning a car without a car payment, a home without a mortgage, an education without student loans, and credit card(s) with a zero balance. How did you get to this financial freedom? Did you a) win the lottery, b) rob a bank Sugar & Spice style, or c) align your behaviors with your long-term financial goals? Well, the answer to the question depends on whom you ask.

I told a friend of mine that I was working to become debt free and she looked me right in my face and laughed. I mean laughed to the point of tears while telling me how unrealistic I was being. “Everyone has debt”, she alleged. If this were her outlook on financial freedom, I would guess that she could image a debt free life comes only as a result of a windfall. She will either rob the bank or win the lottery. I, however, understand how even the most minute  sacrifices will help me get closer to my financial goals. I have to think beyond the day-to-day and month-to-month if I want to build  generational wealth. Financial expert, Dave Ramsey adds, “We have been sold debt with such repetition […] that it’s hard for people to imagine what it would be like to have no payments”. Debt shouldn’t be the normal status quo and I am not comfortable adopting that mind-set. When the day comes when I wake up with no mortgage, no student loans, and no credit card balance, I know it will be a result of my financial plan and my commitment to it.

Is Debt Normal? Share Your Thoughts…