She Makes Cents – Page 7

Dave Ramsey’s 7 Baby Steps Explained

Published on January 18, 2017February 23, 2017 by Danielle YB Vason9 Comments

Hey #SMCmoneytribe! Yesterday I took a little time out of my day to create an infographic for you that provides a quick overview into Dave Ramsey’s Baby Steps. I wanted to do this for you because I reference these steps in a lot of my writing because they have become the meat and potatoes of my financial plan. If you are a long time reader of She Makes Cents, you might remember when I was so excited to get to the second part of Baby Step 2 that I tried a risky financial move of playing financial Russian Roulette. Let’s just say the outcome was not what I expected when my car broke down one week later and I only had half of an emergency fund to help me out. (P.S. According to Ramsey, car maintenance is not an emergency and rather something that should be budgeted for).

info@shemakescents.com | Instagram @shemakescents

How to Stay Motivated To Save Money

Published on January 13, 2017January 13, 2017 by Danielle YB Vason1 Comment

Happy 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.

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.

What’s Your Motivation To Save? Please share below

How To Win on the She Makes Cents Money Challenge

Published on January 6, 2017February 27, 2017 by Danielle YB Vason4 Comments

Happy 1^st Friday of 2017 everyone and welcome to the 2017 version of the She Makes Cents Money Challenge! Need a quick overview of the She Makes Cents Money Challenge?… click here. If you know me, you know I LOVE Fridays. It’s the day I eat tacos and drink margaritas with a sugar rim, it kicks off the weekend, and it’s the day I make smart money moves on the She Makes Cents Bingo Money Challenge! bingo-money-challenge

The Benefits

They say you should do something today that your future self will thank you for and that is what this money challenge is for me and the #SMCmoneytribe. As a part of the #SMCmoneytribe you will take this financial journey with the best accountability partners….other readers like you. Last year I paid off my credit card completely and I am still carrying a zero balance (insert angels singing…seriously can you hear them?). While I have used the money from this challenge to help pay down debt, other members of the tribe have used their savings to go on vacations, pay for professional certifications, holiday gifts for family, and to ramp up their emergency funds. By accepting this challenge, you will gain more than the financial payout… you will gain a new sense of discipline, determination, and better money habits overall.

Should you get off track, you can always catch up or start over, we just ask that you don’t give up on this challenge, your goals, or yourself. YOU can do it and you have an entire TRIBE of people cheering you on!

Double the Fun

This year I have talked the Mr. into participating…sort of like a dollar for dollar matching. For every number I cross off and save, he will match it. If we decided to “double of fun” last year, we would have saved almost $4,000.00 together. I’m doing this with the hubby because we have a shared travel goals and an invested goal to reduce my student loan debt. The cool thing is that you don’t need a spouse to double your savings, you can do this with anyone who you know and trust who shares your goal. Saving for a girl’s trip, why not combine efforts with your bestie(s)?

If you share your progress on social media (which I highly recommend), please make sure you use the hashtags #SMCmoneytribe so the tribe can cheer you on!

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.

smcmoneytribe

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

{2017 Word of the Year} How One Word Will Guide My Entire Year

Published on January 1, 2017January 22, 2017 by Danielle YB Vason5 Comments

fb-qotd-template I pose this question every year and 2017 is no different. What one word reflects your vision for 2017? So many of you submitted thoughtful responses via the SMC Facebook group and Instagram such as “gentleness”, “perseverance”, “do”, and “focus”. I even had one response that was in line with my word of the year…INTENTION from the Instagram handle @yourlifefinance. By definition, intention is a determination to act in a certain way. I chose “intention” to reflect my vision for 2017 because it adds purpose to all thoughts, words, and actions. To be honest, I have found that haphazard thoughts, words, and actions tend to get me into trouble. Toward the end of the year, I started asking God to guide my words so that I speak with intention and not for the sake of attention. This past year was my year of BRAVERY and even though it started out shaky, I ended the year with one of my bravest moves yet (post to come later on that one…). intention-adds-purpose-to-all-thoughts-words-and-actions Four years ago was my year of BALANCE, 2014 was my year of FOCUS, 2015 was my year of PASSION, 2016 was my year of BRAVERY, and I welcome my year of INTENTION. I am working very hard to make sure that my words and actions are in line with the following criteria: Is it kind? Is it necessary? Is it truthful? As each year passes, I take a moment and reflect on why I chose my earlier words, where I was in my personal development for that to be a necessary focus, and how I incorporated the meaning of those words in my life.

What’s Your Word for 2017 and why did you pick it? Share Below!

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

{BINGO Money Challenge} The Easiest Way to Save Money In the New Year

Published on December 17, 2016January 3, 2018 by Danielle YB Vason6 Comments

UPDATE: Click here for the 2018 version of the 52 Week BINGO Money Challenge from She Makes Cents

It’s the season when people begin making new plans to start afresh in the New Year. We make goals/resolutions and we vow to take this great opportunity to reset and do better than the year before. Sound familiar? It’s important that we take time to reflect on this crazy year so we are that much more successful when we start over in 2017. Were your financial goals attained? Did you fall off? Did your goals change? easietway-toavemoney

shemakescents BINGO Money Challenge

This year some of my most basic financial goals included paying off my credit cards, snowballing my student loans, seeing the shemakescents BINGO Money Challenge to completion. For those of you who are new to shemakescents.com, the BINGO Money Challenge is a remix of the popular 52 Week Money Challenge that went viral a few years ago. 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 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. 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. The original version only has a max savings potential of $1378.00 whereas this version has an average of $1900.00+ .

This year, I have been pretty successful with this goal and my other financial goals from the standpoint that I never gave up. There were a few bumps in the road but I pushed through and so many of you did too. In pushing through, I was able to find more efficient ways to work towards my 2017 money goals.

Introducing the #SMCmoneytribe

In reflecting on the past year, I noticed that those of you who participated in the weekly check-ins for the shemakescents BINGO Money Challenge, via Twitter and the Facebook group (click the links to follow), had the highest success rates. For 2017, all those who take part in the BINGO Money Challenge will become members of the #SMCmoneytribe giving you access to personalized check-ins, support of others with similar money goals, and a FREE printable of the 2017 version of the bingo money sheet. Together we will reach our money goals and enjoy the company of other goal-oriented readers. Past members have used their savings for travel, holiday gifts, pay down debt, save for a car down payment, and pay for professional certifications. The sky is the limit with the savings because of the bonus boxes and if you really want to up the ante you can do so by doubling the value of each box.

If you would like the full benefits of joining our #SMCmoneytribe, please click here to download your money card sheet. We would love to have you apart of our group. Did I mention I have saved a little under $1,900.00 with two more weeks to go for the year?? If you have any questions, please feel free to email us at info@shemakescents.com .

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

Don’t Let Fear Be A Roadblock To Success

Published on December 7, 2016 by Danielle YB VasonLeave a comment

This is the season when people reflect on the past year and pledge to “do better” in year ahead. I promised myself that I would “be brave” in 2016 so much so that I selected it as my personal word of the year. The thing is, I spent a great deal of the year doing what I have always done and was perplexed as to why things were not progressing as quickly as I would have liked. Why is this situation still a situation? In a moment of clarity, I was standing in a mirror of self-reflection realizing that I have made decisions in the areas of my career, finances, and relationships based primarily out of fear. This is why I selected brave as the word of the year in the first place; to push myself out of my comfort zone and accept new challenges. Nothing in my life or yours will ever change if we continue to do what we have always done. As Walt Disney says, “ We keep moving forward, opening new doors, and doing new things because we’re curious and curiosity keeps leading us down new paths. The opportunity for something new is knocking, are you ready to open the door?

What Does “Being Brave” Mean to You?

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

{Money Goals} This Money Challenge Beats All Other Money Challenges

Published on September 10, 2016 by Danielle YB VasonLeave a comment

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.

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.

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

{May Recap} 52 Week BINGO Money Challenge

Published on June 4, 2016June 3, 2016 by Danielle YB VasonLeave a comment

Hey lovelies! I wanted to do a quick check-in this morning to see how you are doing on the 52 Week BINGO Money Challenge. I am well on my way with 23 boxes checked off (not including 3 bonus boxes) and step one of my snowball goal almost at the under $1,000.00 mark! Here is how the numbers are breaking down between January 2016- and May 2016.

As of yesterday when I crossed off $22.00 on the BINGO Money Sheet, I have saved a total of $938.00. Since June is the halfway point to the year, it is the perfect time to reset your goals if you have fallen off. The good thing about this challenge is that you can start at anytime and you can use the money for any goal. Right now, I am still using this money to pay down my credit card debt faster. What started off as a $5,000.00 credit card balance at the beginning of the year is now down to $1437.00. After that, I will then snowball that money to knock out my student loan debt. After that…the sky’s the limit. This can be play money, shoe money, vacation money, or by that time… 529 Plan money for a future kiddo.

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

{Time Is Money} Are You Spending Both Wisely?

Published on May 24, 2016May 24, 2016 by Danielle YB VasonLeave a comment

It’s safe to say that we have all heard the phrase, time is money. But what does that really mean? When considering the quote above, I would say it means that time is valuable. We can easily recognize the value of money, how great we feel when we spend it wisely, and how annoying it is when we feel that money is wasted. Those same paradigms should be applied to what I believe to be the most valuable currency that we all have- our time.

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

{Week 11 Recap} 52 Week BINGO Money Challenge

Published on March 11, 2016January 22, 2017 by Danielle YB Vason3 Comments

Happy Friday Lovelies! For whatever reason, this week has seemed to drift by slowly. I thought it was Friday at least twice this week (#epicfail). Now that Friday is actually here, it’s time to kickoff the weekend and share progress for the 52 Week BINGO Challenge. After scheduling bill payments and doing my zero-based budget for the next two weeks, I decided to cross off $11.00 this week. It was more important to me to focus my money toward savings, so I upped my savings contribution and lowered the amount I decided to save for this challenge this week.

Thus far in the challenge, I have saved a total of $432.00 and my credit card balance is down to $2800.00. I hate that I even got myself back into credit card debt with charges from the wedding and car repairs that happened months apart. But, hey, you live and you learn. I learned that even if you hit your goal, like I did when I got my credit card balance down to zero the first time, it is very easy to relapse into old habits or make poor decisions that get you right back to where you started. It happens. On the bright side, I have never been more focused on my financial goals as I am now and taking this step backward has inspired a new and focused momentum. What number did you cross off this week?

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