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Want to go on vacation? Want to have money to spend on Black Friday?
While watching the Disney Parade (Christmas 2013), mom and I saw the cruises they offer and I decided to do some research. I found a destination that mom and I would enjoy and was trying to figure a way for me (myself only) to save for this trip. Hard for me to save money with current bills. Mom and I plan to go on this trip in 2-3 years. I needed to save and save quickly.
Last Christmas, as part of my Christmas gift, my mom gave me the Money Challenge. The challenge is: Week 1 save $1 and put it away, Week 2 save $2 and put it away, etc through Week 52, save $52. I looked and thought about this and realized that the higher the weeks were, the more that would be coming out of my paycheck (like October, November and December) and I wouldnt be able to do it those months. I did the math and it comes to $115 a month, if you took the total of doing it weekly ($1,378). Therefore, about $28.75 a week. Much more manageable for me. But since I get paid once a month, I just save $115.
Then I took it 4 steps further to save money.
I plan to keep up these plans for many years to come and will make adjustments to point #2 as prices go up. But I plan to stick to living off 2013 salary for as long as I can.
Also, don't blow your tax refund if you don't have to. I personally use tax refunds for car insurance, license sticker, etc. I spend a certain amount on myself and I save the rest.
I now go through life with the "Do I need it?" attitude and it helps tremendously! I don't even stop and buy $5 movies anymore because I know Black Friday will have a better choice range!