Saturday, May 3, 2014

Breaking the Paycheck to Paycheck Money Cycle Challenge - Month One



So there is the great blogger called The Penny Hoarder and I am a big fan of his blog. He shares a lot of unique and easy ways to save and earn a little bit of extra cash. And as a stay-at-home parent and a military family we love and need these ideas. Now I also do spend a lot of time researching my own solutions but let's face it it's always easier to do one stop shopping :)

In his blog about learning how to save money when living from paycheck to paycheck he gives you a break down of things to do and a schedule which I love!!! I love it when other people help with with organizing things makes my life so much easier don't you agree?!

Anyway, I decided to take the challenge. So I'm starting to breaking the cycle of living paycheck to paycheck, because I'm tired of feeling broke :'(

The Break Down:  
12 months to save $950

$950 is the goal that he gives you and shows you steps to doing, but as always you can save as much as you can and set a higher goal if you want. 

Month One: Save $5 and put money in savings account.

So my course of action allowed my to save $57.44 for Month One. I was super excited!
I also decided to open a Capital One 360 Checking Account  which will pay me $50 after having the account for 50days and for making 3 purchase from the account in the first 45 days. So 7weeks and 1day from now I will have an extra $50 to add to my savings account... Woot Woot!!!

Now on to Month Two: Saving $15 (and in my case I'm going to open a savings account with a high APY Rate)

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