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.

new-year-resoultions-statistics

 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!


header-logo-2017

{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…