The first week of my attempt for the 2014 52 week save money challenge this year had a slow start, but the good news is that it did begin. I decided to do this challenge from scratch, so I won’t be using money that was in the process of being saved before beginning this challenge. If I had done this, I could have crossed off a much larger number, but I believe doing it this way is more realistic to someone who is just beginning this type of challenge.
I did three things from my initial preparation list to get things started. Even though I didn’t save a lot of money, I did begin to build that foundation which should allow me to knock off the larger amounts in the weeks to come. Here’s how I got the ball rolling.
Start a Money Jar
I also found a nice tin which I’ll be using as my money account until I open up a new bank account for this challenge.
Pay to Use My Car
I set up the “pay to use” system in my car. I decided to pay $1.00 each time I used my car, knowing that having to pay when I drive will make me drive less and save money. The first thing I needed to do was create an area where I could easily pay each time I got into my car. I ended up emptying out a compartment in the front of the car, and then labeled it “Pay A Buck” so it was staring me right in the face each time I got into the car. This way I wouldn’t “accidentally” forget to pay. It’s not pretty, but it does what it’s supposed to do, and it’s definitely the first thing I notice each time I climb into the driver’s seat. I probably won’t leave that up the entire year, but I will leave it until I’ve firmly formed the habit of paying each time I sit down in the car.
That gives me a total of $5.00 saved for this first week to cross off and put into the saved column.
Total Saved Week 1: $5.00
Goals for the Coming Week
My one main goal for the coming week will be to look through my old documents to see if I can locate all my bills for the last 12 months. If I can get these, then I have a base with which to compare what I pay for these utilities this year. This will allow me to determine if the methods I do to try to reduce my utilities work. I’m really not looking forward to searching for these as I don’t keep the neatest of records, but it’s important information to have, so it’ll be at the top of my list.
For those of you who are also doing this challenge, what was your first week savings amount? How are you feeling about the challenge thus far? If you blogged about your first week, please share the link.