Saturday, May 3, 2014
Breaking the Paycheck to Paycheck Money Cycle Challenge - Month One
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I Guess This Is Growing Up
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4:34 AM
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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