52 Week Money Saving Challenge for 2020
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52 Week Money Saving Challenge for 2020

52 Week Money Saving Challenge for 2020


52 Week Money Saving Challenge for 2020

First off, Happy New Year to everyone out there. One of the resolutions on everyone’s list has to be better with their finances. While some people spend most of their limit on credit cards, I’ve done the 52 week money savings challenge. This year, I’m hoping to up the ante by saving over $2700. In the past, I’ve saved almost $1400, but I’ve eliminated several bills, so I’ll go higher. Starting today, I’ll put aside $2 and it’ll be doubled every week. With the money, there’s quite a few things the money could be used for. Below are some of the ways!

Save for My Daughter’s Car

My youngest daughter turns 15 this year and she’s already talking about getting her learner’s license. With the money saved, we could use it as a nice down payment or towards something we pay cash for.

Next Year’s Vacation

We have money put to the side for vacation this upcoming spring, but it’s never too early to think ahead. Whether we go on a road trip, plan a vacation or possibly a cruise, this is a perfect way to save.

Christmas Money

With my oldest two kids being adults and our youngest being a sophomore then, this would be great. We have given thought to going on a weeks’ vacation during the Christmas holiday. The money saved during the 52 week money saving challenge could go to funding that trip. We have already told our oldest two to start saving money or doing the challenge themselves for spending money.

Put More Money into Savings Account

This is one that I’ve given the most thought to and that’s a savings or CD account. Seeing I’m in my 40s now, retirement has been on my mine and I’ve even increased my 401K. Either way, saving money throughout the year and putting it all into some kind of account is on my mind.

Save For a Rainy Day

It doesn’t matter how good things are going in life, you get hit with a curve ball. Since I’m eliminating all of my credit card debt, saving for a rainy day is very important to me now. In the past, I’ve always relied on those credit cards to pay on whatever comes up. I’m wanting to get to a place where those cards aren’t needed, and I’ll be able to pull my own money at any given time.

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