2021 is coming to an end and before you know it 2022 will be here! Time to reflect and have an honest conversation with yourself, ask yourself some serious questions!
- Are you ending this year in the same position you ended 2020? With no savings and no clue where it all went, having to depend on credit cards to get you through the holidays and that long awaited January paycheck.
- Are you beginning 2022 the same way you began 2021, in debt, frustrated, wondering why you can’t seem to break the cycle?
Christmas is approaching, a bittersweet time of year for many. Are you wondering how are you going to give your kids a beautiful Christmas? Are you going to max out your credit cards? Good food, family time, laughs, and presents all represent the sweet. Maxing out your Credit cards, no Christmas savings, and the pressure to engage in buying presents, you know you can’t afford, represent the bitter. Not having the courage to tell family and friends, you’re on a financial journey, can lead to repeated bad behaviors. The best gift you can give yourself is the “gift of not repeating old habits that lead you into debt”. The gift of financial freedom!
If the above touches your soul, it’s time to make some changes! Don’t know where to start, no problem that’s what I’m for ? your personal Budget Buddy. Need a jump start, look at some of my personal favourite money challenges, I provided a few I think you might like, do them individually or with friends. Email me to get started! budget.buddy@outlook.com
Saving Challenges for 2022
Friday challenge
Whatever the date Friday falls on, you save that amount. There are a few ways you can play with it.
7+14+21+28 = 70
14+28+42+56 = 140 (Friday date doubled)
7+28+21+56 = 112 (Every other Friday doubled)
7+14+21+56 = 98 (Last Friday doubled)
100 Envelope System
Mark 100 envelopes in sets of 5 as per below – you should have 20 sets. There is a challenge for every budget you can do the challenge three times in a year.
| Challenge One | ||||||||
| 100 Envelopes/20 sets each | 10-50 | 5-25 | 2-10 | 1-5 | ||||
| Double up Fridays | ||||||||
| Envelope # | $ | $ | $ | $ | ||||
| 1 | 10 | 5 | 2 | 1 | ||||
| 2 | 20 | 10 | 4 | 2 | ||||
| 3 | 30 | 15 | 6 | 3 | ||||
| 4 | 40 | 20 | 8 | 4 | ||||
| 5 | 50 | 25 | 10 | 5 |
- You should have 20 sets per challenge / Pick the amounts that work best for you!
- Totals at end of challenge
| 100 envelopes 1 time per year | $3,000.00 | $1,500.00 | $600.00 | $300.00 |
| 100 envelopes 2 times per year | $6,000.00 | $3,000.00 | $1,200.00 | $600.00 | |||
| 100 envelopes 3 times per year | $9,000.00 | $4,500.00 | $1,800.00 | $900.00 |
Day of the Week Challenge
Save the day of the week Monday to Friday, transfer that amount to a savings plan right before lunch each day! If you can buy lunch each day, you can save!
Week 1: 3+4+5+6+7=25 saved!
Week 2: 10+11+12+13+14= 60 saved
Week 3: 17+18+19+20+21 = 95 saved
Week 4: 24+25+26+27+28 = 130 saved
Week 5: 31 saved!
$310 saved in total for January and you’re on your way.
Weekend savings
Add up Saturday and Sunday dates and transfer weekly / bi- weekly or monthly
January 2022 – $145.00
There are many ways that you can have fun with a monthly calendar the key is to pick one and stick to it discipline is key!
Please have a serious and honest talk with yourself review your budget and if you need someone to help you be accountable, disciplined and be there for you without any judgment on your journey to financial freedom, email at budget.buddy@outlook.com
Wishing everyone a safe Holiday and Happy saving in the New Year
Budget Buddy
