#52WeekMoneyChallenge July Check In
Back in December I made the choice to start my little family on the #52WeekMoneyChallenge offered by Stuck at Home Mom. The challenge offered followers to save $1, 378 in a year. When we initially discussed this we felt this money would give us enough to take a nice little trip during Christmas at that maybe we would do away with having so much ‘stuff’ and actually celebrate the holiday. It was also during this time that Mr. Yum was getting ready to start his final semester of clinical’s and school.
At the time, I thought it would be easy. Week one you drop in $1. Week two you drop in $2. On week 52 you drop in $52. With the smaller amounts being at the very beginning of the year when he’s not working at much I felt it would be an easy savings plan we could manage.
In January we cleaned off a giant pretzel container. Kiddo decorated it and we got started.
By February we realized we would have to do things a bit differently. I put money in as I went and we were a little bit ahead in March.
March and April had no update. We got to the point where we were struggling a bit. Husband could only work a few hours and all of that went towards insurance. I am not kidding when I say that his checks were a mere 63 cents. MIL helped with some bills and I had to pay for the rest. Every penny in this bucket was earned through garage sales, kiddo rescued a pup and the owner gave her a $10 reward.
June hit and things started to look a little gloom. We had money in our bucket but we were not where we should have been with the challenge. Mr. Yum graduated in May and June came in with a roar. He still had to pass all his boards. His externship did not extend him a full-time job like he thought.
June was not kind to us. We barely squeaked by.
Towards the end of the month hospitals finally started to call him for interviews. We did not have the gas money for him to drive back and forth. Between interviews and physicals it was draining what little money we had.
Sadly, we had no choice but to dip in the savings bucket. We managed to save $109.29 but had to borrow $60.
I had to explain this to kiddo over the weekend. I could tell she was very sad. Good news, we were able to add $12.75 to it from the garage sale we had.
So, our #52WeekChallenge bucket now contains $62.03. According to the challenge chart, we should have over $300.
The good news is, husband was able to get 2 per diem (as needed) jobs and he can basically work as much as he wants. This helps in the finance department. I only wished they offered benefits. He has promised to replace the money and get us up-to-date with the challenge.
I hope so.
That’s actually a pretty neat concept. I like the idea of that & then at the end (if there are no emergencies) you theoretically have a nice little chunk of change.
That’s actually a pretty neat concept. I like the idea of that & then at the end (if there are no emergencies) you theoretically have a nice little chunk of change.
I’m sorry that it’s been so tough for you, but at least you had those savings to help you along. That’s what it can be for! We started saving $20 a week over the course of the year and have been able to increase that amount over the 6 years we have been saving.
I’m sorry that it’s been so tough for you, but at least you had those savings to help you along. That’s what it can be for! We started saving $20 a week over the course of the year and have been able to increase that amount over the 6 years we have been saving.
Wow thats amazing!
At first glance, you would think that would be an easy thing to do but I totally understand how this could happen. Good for you to keep going though! Anything saved is an accomplishment!
At first glance, you would think that would be an easy thing to do but I totally understand how this could happen. Good for you to keep going though! Anything saved is an accomplishment!
Thank you!
I love this concept and glad to see that even with a setback, you’re still hanging in there. This is a great way to teach kids about saving. Keep up the good work!
I love this concept and glad to see that even with a setback, you’re still hanging in there. This is a great way to teach kids about saving. Keep up the good work!
Thank you so much! I think so long as we are saving something we are better of than we were.
WE have a HUGE change jar that my husband and I put all of our change in. It adds up so fast and we hope that we will get to Disney with that savings in a few years.
WE have a HUGE change jar that my husband and I put all of our change in. It adds up so fast and we hope that we will get to Disney with that savings in a few years.
That would be awesome! I really want to do the Disney cruise.
That totally stinks that you had to dip into the fund. On the flip side, at least you had the fund to dip into!
That totally stinks that you had to dip into the fund. On the flip side, at least you had the fund to dip into!
I am thankful it was there. We were about to go to the plasma bank. Not that I don’t mind helping others, but I am not a fan of sitting around with needles in my arm like that.
That is a great idea! I might use this technique with some of my patients who are struggling to learn about budgeting and saving.
That is a great idea! I might use this technique with some of my patients who are struggling to learn about budgeting and saving.
Oh please do and let me know how it is working for them!
Now I want to try this. Sounds easy enough. I can totally understand how some weeks, months are harder than other.
Now I want to try this. Sounds easy enough. I can totally understand how some weeks, months are harder than other.
You should give it a go!
At least you had that money to use for an emergency. You’ll be able to add more and get the amount back up to where it should be!
At least you had that money to use for an emergency. You’ll be able to add more and get the amount back up to where it should be!
I hope so!
I saw this challenge as well back in December and have been doing it myself. I have even less in my jar at this point, there is probably just over $20 in there. I had to ‘borrow’ from it when I was strapped for cash in April. I would put it all back in at the end of the month. I wasn’t too upset that I had to ‘borrow’ from it…the whole point of it I think is about encouraging me to save for a rainy day. The rainy day came and luckily enough I had the back up to dip into.
I saw this challenge as well back in December and have been doing it myself. I have even less in my jar at this point, there is probably just over $20 in there. I had to ‘borrow’ from it when I was strapped for cash in April. I would put it all back in at the end of the month. I wasn’t too upset that I had to ‘borrow’ from it…the whole point of it I think is about encouraging me to save for a rainy day. The rainy day came and luckily enough I had the back up to dip into.
At least it gives you a savings to fall back on when you need it! Just keep trucking along and do something special at the end of the year.
I really wanted to take the challenge, but we failed out by February. It seems something always happens when you try hard to get ahead!
I really wanted to take the challenge, but we failed out by February. It seems something always happens when you try hard to get ahead!
At least you tried!
Happy to here your husband found something, even if it is per diem. It’s something! This is a great concept and I am sure it will pay off in the need for you. I am going to see if I can do this to.
Happy to here your husband found something, even if it is per diem. It’s something! This is a great concept and I am sure it will pay off in the need for you. I am going to see if I can do this to.
Great concept an easy to stick to! Anything to get some savings going
Great concept an easy to stick to! Anything to get some savings going
I agree. Something is better than no savings at all!
As hard as it is, it’s a good lesson to teach your children. Sometimes it’s hard to save money, get ahead or just get by.
As hard as it is, it’s a good lesson to teach your children. Sometimes it’s hard to save money, get ahead or just get by.
It sure is!
It looks like a great way to save money. But when times are tight, it’s great that it is availble.
It really did help out!
It looks like a great way to save money. But when times are tight, it’s great that it is availble.
I started the 52 week challenge as well. But things have been tight as well so it hasn’t happened. Maybe next year.
I am sorry to hear that. I am just hoping for a little money for us to take a little in-state trip for a couple of days. I think that would be nice.
I started the 52 week challenge as well. But things have been tight as well so it hasn’t happened. Maybe next year.
Sorry things haven’t been looking up lately but I’m sure it will get better as time goes by. I’ll be saying a prayer for your family.
Thank you Amanda!
I really liked this idea when I saw it! My husband thought it was a bit ridiculous. Anyway, we did not come close to completing it!
Oh no! hahahah. I am going to try my best. It’s mostly for kiddo with the hopes it will teach her about saving and the reward that comes with it. I have been with these guys since kiddo was 3, so 6 years. In that time I worked on a BA and an MBA. Hubs just finished his AS in RT. So between work, school and finances we’ve never been able to do a family trip with just the 3 of us. So I would like to do something soon!
I really liked this idea when I saw it! My husband thought it was a bit ridiculous. Anyway, we did not come close to completing it!
What a great challenge. I really want to try this out! It seems very hard but would be great to see at the end of the year all the money saved up!
It does get harder as it goes, but there are a lot of folks that just do what they can.
I heard so many people starting this the first of the year but not how it was going Sorry you had to e some of your bt at least you had it to fall back on.
I hope we’ll be able to tuck a little something away even if it means taking a trip a little closer to home.
I’ve seen this before and I think it is an awesome idea. I really want to start it this year.
You can start any time! I know people who have and just get caught up as they go.
How fun that everyone including your husband is all in on this one. I hope you meet your goal.
Thank you so much!
What a great idea for a little savings in December. Sorry it hasn’t worked out the way you want so far but I know you will meet your goal!
Even if we don’t meet the goal, kiddo and I have a special little trip planned to stay in Detroit and go to the Ford Museums and Zoo. Instead of driving back and forth, we’ll just stay a couple of days.
I love the concept of the savings plan. Congrats on things looking up and the hubby getting 2 jobs, its a great start and surely the benefits will come down the road. good luck!
I certainly hope so! Thank you for your well wishes!
What a great idea. It is very important to teach you r kids about saving money and working towards something. Instant gratification has become so common place nowadays. I like working towards a goal.
That’s actually a very smart way to save money. Sorry you aren’t where you would like to be yet, but fingers crossed you get there by the end of the year!
THat’s a bummer that it’s not going as well as you had originally planned. BUt it’s great that you had the savings to dip into when you needed it most.
I was thinking about that savings plan – but thinking about doing it backwards – since it’s always easier to do things right when you’re motivated … and then having the lowest amounts to put into savings around Christmas time!
So glad this was there for you in your time of need. I know you’ll have it saved back up in no time.
What an interesting idea! I may just have to try this.
It sounds like a good idea! I am always trying thing like that, but still no success:(
This is such a great idea to help kids learn saving is important, also that sometimes we have to dip into our savings, but as long as we do it responsibility, that’s okay! I love that you were able to add another $12 and change back in. Great job!
I am glad it was there for us for our ER situation. I am also very thankful that things are turning around and we can start saving again. Perhaps another garage sale is in our future.
what a struggle! It will pay off and you’re doing the right thing! Great job having savings at all!!
Thank you so much!
Good for you that you’re doing the money savings challenge. I need to do this with my family. It’s a great way to set some money back for a rainy day.
Oh man! Life can be really frustrating at times, but I think it’s great you are working on saving for a nice trip or another emergency!
Well we ave 2% of every week check and w have a diff container for the coins, if wasn’t for the extra savings I dont think I would have the money for my nursery
I like this idea and can assure you we would be in the same boat. All you can do is try and kudos for that! Thank you for linking up to the Bloggers Brags Pinterest Party. I have pinned your post to the Bloggers Brags Pinterest board.
Thank you so much!
Sorry you’re struggling with this. We started this as well, and by week 3 gave up! It’s hard to save. Thanks for sharing on #MerryMonday.