The 52 Week Money Challenge for 2017!

Discussion in 'Career, Work, Finances and Education' started by Ockydub, Dec 30, 2016.

  1. Ockydub

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  2. African King

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    MAKE THINGS EASIER.

     
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  3. Rico

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    A good thing to do is also use the Excel/CSV option to download your bank transactions if your bank's web site allows it. Autosummed all my unnecessary expenditures in Excel last year at tax time and damn if it wasn't approaching this amount. Prompted me to "Bye Felicia" to Starbucks and eating out at work.
     
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  4. Nicholan

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    I'm trying to save to purchase a condo so I will definitely be saving this chart. I'm going to have to catch up on my next pay check. Thanks for sharing!
     
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  5. DC.

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    I like this I think it's definitely important people have a savings or investments because I'm sorry but having simply a "job" is not the saving grace. Lol
     
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  6. BlackguyExecutive

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    The key to doing challenges like this is to start at Week 52 and alternate. It helps ease the financial burden later in the challenge. For example. Start at week 52 the next week do week 1 and so forth.

    I think a better way to do savings is to save 10% of your income and pay yourself first and figure out everything else later.
     
  7. Caliblk

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    I will try this start next pay check
     
  8. Dante

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    Great idea, specifically if you are not living paycheck to paycheck.
     
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  9. Rico

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    The biggest thing to remember is that if you are under 35 - 40, you have the time value of money and investing on your side. So the younger you start saving, the less money you actually have to put aside as your money is increasing due to a longer period of interest. So don't worry if you're just out of college and not making much, time is on your side. That's why older folk are allowed to do a "catch up" (invest more) than younger people, they don't have time on their side. A 25-year-olds $50 today will be worth more in the future than a 55-year-olds $500 today.
     
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