<< Back to all Blogs
Login or Create your own free blog
Home > Category: Budgeting

Viewing the 'Budgeting' Category

31 Day Dime Challenge

July 15th, 2016 at 08:49 pm

So many of you probably have heard of the 30 day quarter challenge which can net you $116.25 in 30 days! And for some people living paycheck to paycheck this is a good ideal challenge to start! It gets you the first $100+ saved up in just 30 days and more important you could repeat it month after month!

While I had a friend who recently got into some major debt. After becoming a savings coach I felt really bad that I couldn't help him out the way I would like too. Then I remember a challenge I posted on my private savings challenge group on FB back in May 2015! After posting the 30 day quarter challenge in April 2015 I was getting some people telling me that saving even $116.25 in 30 days can be hard for some people, b/c the days when u had to save $5 or more would be hard for people who barely could come up with $5 or more in a day to save!

So I posted the 31 Day Dime Challenge for May 2015, I made it for 31 days only b/c May had 31 days and it was the next month right after April, so of course u could do this in a month with 30 days just you'll save a bit less!

So it'll only net you $49.60 in 31 days (just shy of $50) but it's a good start for people who are looking to save money even if it's only their first $50 in a month!

How this challenge works? So on Day 1 you save 1 dime ($0.10), on Day 2 u save 2 dimes ($0.20), Day 3 u save 3 dimes ($0.30) all the way until Day 31 when you save 31 dimes or $3.10! By doing this you'll net EXACTLY $49.60 in 31 Days OR $46.50 in 30 days (if u do this in a month with 30 days)! Seeing that I'm posting this in mid July 2016, start this challenge up in August 2016... Since August has 31 days, pass this on too anyone who says saving even $100 in a month is hard!

Just think in the first 9 days your saving amounts all less than $1... What costs less then $1 now of days? Not many things and if something does cost under $1 do you really need it? Odds are probably not! The most someone will have to save is $3.10 in 1 day... in Canada (where I'm from) $3.10 won't get you far... A lotto 6/49 ticket costs $3 (without the extra) but the odds of winning the lottery are way lower to the odds of you actually saving $50 in a month! Try this out or pass this on too someone who u know is in debt, get them into the habit of saving even if it's only $50 to start off! It's $50 more they'll have if they didn't do this challenge!