Monday, January 18, 2010

The Challenge Week #3

Bet ya thought I forgot to put up the Challenge Results for week number 3. Nope, just haven't had a chance to post it yet.

O.K. as doing this challenge is all about being honest with myself and you guys, this past week was a mixed bag. While I spent less than half ($13.98) of the weekly allotment, I did eat out 3 times. Once was for business and the other two times were stress relievers. They had been changing over the servers at our office since the 8th of January and last week we were all ready to pull our own and each other's hair out. Needless to say, just about everyone in the office was going out for lunch just so we didn't blow up the computers. So I only saved $24 by not eating out everyday, but I kept my sanity which I think was a fair trade off.

However, the week didn't end on a not so good note. During weeks 1 and 2 I was able to save money on the groceries and not eating out, etc. so I ended up put $150.00 into savings. I have been trying to follow the Ramsey plan and he suggests you have a $1,000 emergency household savings account. This account is only for things like the hot water heater going out, the dryer going out, etc. By having the $1,000 set aside, you don't have to come out of your checking account for emergency household issues. This money is only for household emergencies. You can't touch it. I am happy to say that I now have the $1,000.00 household emergency fund set up. While I didn't put any additional money towards the credit card, I am comfortable knowing that should something in the house breakdown unexpectedly, I won't have to put it on the credit card and that's a great feeling. Now I just have to go back to his site to see what the 2nd savings account amount is suppose to be. I'll have to decide whether to start that savings account now or use the savings from here on out to pay down the credit card. I'm thinking that since I have the $1,000 in the Emergency Household Fund that paying off the credit card is going to be the most important thing.

I also put $50 into my 401K plan. It's not much I know, but that's $200 I put away for the month and the month is only half way through.

So, added to the month to date for weeks 1 and 2, ($470.58) my total savings for the challenge, the end of week 3 is $200 (savings + 401K) + $47.02 (grocery savings + not eating out savings) for a grand total of $717.60. Not bad for 3 weeks.

Didn't have much opportunity to do surveys but I did earn more swabucks and some money from Inbox Dollars, Send Earnings and You Data. I'm going to try to start doing more of the surveys that I get offered to me. Have gotten really behind doing the surveys and know that I have missed many oppostunities. The more you do the more you earn and earning and paying down the debt is what it is all about.

The husband and I are both very excited in how our finances will be turning in the next 5 months. The first vehicle we purchased after we got married will be paid off in about 5 months and hopefully I will have the credit card paid off then also. Our plan at that point is for him to take the payments that he was sending in on the car and add that amount to what he pays on the truck to pay the truck off faster. I think that is an excellent idea.

Now you already know that I went to Meijers on Saturday so I have a great savings to start week #4, if you will excuse me, I'm going to go start reading the book I just received from I gotta tell ya, I'm loving First I received the free bottle of One-A-Day Gummy Vitamins (and they are awesome). Now I received a book called Cherries in Winter. This story, written by Suzan Colon, is her family's recipe for hope in hard times. (Boy is that perfect timing!) I'm anxious to read this one. I'll let you know what I think as soon as I am finished with it.

I also received a big box from Soft Scrub and I can't wait to see what they sent me to test for them. Yep, it's starting out to be a GREAT WEEK!!!

Have a great evening everyone.

This post is part of the Becentsable Gathering
Compensated Affiliate

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