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I Figured Out My $20 Challenge

June 7th, 2008 at 05:21 pm

I've wanted to participate in the $20 Challenge for a while, but was at a loss as how to structure it. I see that my SA blogmates have many different ways of doing their challenge. This is what makes it fun. I didn’t want my savings to be “hypothetical.” In my case, I want it represent actual realized savings that are not part of the regular monthly savings that I incorporate in my budget. So here is what I decided:

No drive day = $4 (from my $150 monthly gas budget)

No spend day = $3 (from my “$100 monthly allowance”)

Drive the Prius to work (20 mi. RT) = $2.13 per day @ $4.25 per gallon

Rebates

1099 Income (if I work PT after I retire)

Under budget in any category

My goal by December 31, 2008: $2,500.


Here is what I have so far:

$20 to start
$10.65 - drove Prius to work 5 days last week
$6 – 2 “no-spend days”
$5 – rebate check received yesterday
Total: $41.65

Well, I have a long road ahead of me but I am hopeful.

3 Responses to “I Figured Out My $20 Challenge”

  1. koppur Says:
    1212858036

    That's a great start! Good luck and keep us posted!! Smile

  2. Ima saver Says:
    1212860454

    Very good ideas. That is what I do, pay myself for not spending. I use coupons and my store advantage card too.

  3. ZenQueen50 Says:
    1212880003

    Boy, you have given me some great ideas how to increase my savings from the $20 challenge. WTG!!!

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