52 Week Money Challenge - Page 2 - Toyota Yaris Forums

yaris2010RS · 01-17-2013, 07:52 PM

i will also be starting tomorrow, seeing as im young and i should be making more money then i should spend im going to try to be a little more aggressive with $10 increases per week. this would mean my biggest payment would be $520 but would be left with 13,780 at the end.....

*MAD DOG* · 01-17-2013, 09:37 PM

Quote:

Originally Posted by yaris2010RS

i will also be starting tomorrow, seeing as im young and i should be making more money then i should spend im going to try to be a little more aggressive with $10 increases per week. this would mean my biggest payment would be $520 but would be left with 13,780 at the end.....

:) Good to hear. A savings plan is a good thing. This is not the only savings plan I have. But I decided to take the 52 week savings challenge as a challenge.

yaris2010RS · 01-17-2013, 09:42 PM

unfortunatly i fail at savings plans as i have never had a structured plan. hopefully this one will work.

*MAD DOG* · 01-17-2013, 10:00 PM

Quote:

Originally Posted by yaris2010RS

unfortunatly i fail at savings plans as i have never had a structured plan. hopefully this one will work.

Baby steps. My advice do the 52 week challenge separately to any other savings you may wish to do.

suckerface · 01-18-2013, 09:13 AM

Are any of you familiar with Dave Ramsey? My dad is a HUGE believer in his Financial Peace series (has actually taught 5 or 6 sessions). He's convinced that, had him and my mom started this when they got married, they'd be millionaires. My fiance and I are going to sit down and go through the course before the wedding.

It's mostly just common sense things, and holding yourself accountable for the money you spend frivolously.

LifeHacker also has some good finance tips here and there. It's also nice to set up a Mint.com account to see where your money goes, and set alerts for when you go over a budget.

*MAD DOG* · 01-30-2013, 06:34 AM

Weeks 5 & 6

It's not hard to do. Just a simple little money saving tool. How's everyone else going?

ilikerice · 01-30-2013, 08:39 AM

401k is making bank for me right now.. I set mine up at 10% before taxes are taken out. After my wedding, I am going to up it to 20%. I like this because I actually never see my money getting taken out. I just base my life around the money I am bringing home. This is easy if you have a consistant flow of money each week. I can see how it is alot harder for people who live off tips or an unsteady weekly schedule to save like this.

Its all about discipline

*MAD DOG* · 02-13-2013, 03:40 AM

Weeks 7 & 8

Wow 2c interest credited :) At least I've stuck to it so far. How's everyone else going?

nookandcrannycar · 02-24-2013, 01:07 AM

If at all possible, take advantage of all of the tax deferred accounts that you may be eligible for, and contribute the maximum to each

.

*MAD DOG* · 02-24-2013, 03:35 AM

Different countries. Different tax rules.

Klink10 · 02-24-2013, 08:48 AM

Good for you. The only thing that upset my savings plan this month was a bottle of Scotch, replacing cracked bath tub, replacing the sink diposal and a new winter coat. Still managed $1700 bucks.

tooter · 02-24-2013, 10:43 AM

Quote:

Originally Posted by *MAD DOG*

Baby steps. My advice do the 52 week challenge separately to any other savings you may wish to do.

I think this is a brilliant idea because it is the same sound practical approach regardless of the scale. There is no such thing as too small to work. I do the same "baby steps" idea by creating micro businesses out of the useful things I'm able to do for others in my free time .

mazilla · 02-24-2013, 04:04 PM

Quote:

Originally Posted by Altitude

Then what happens when they hit week 26 and have to add more and more each week. If they can't afford 26.50 each week then how will they afford weeks 27 - 52?

Duh, they take it out of the savings account! ;)

nookandcrannycar · 02-24-2013, 04:24 PM

Quote:

Originally Posted by *MAD DOG*

Different countries. Different tax rules.

True, but most of the people who have commented on this thread live in the United States.

*MAD DOG* · 02-28-2013, 06:11 AM

Weeks 9 & 10

How's everyone else going?

yaris2010RS · 02-28-2013, 12:07 PM

unfortunately i did not have a seperate savings account to do this in so its hard to see but its still money being saved! great idea. My mom is also doing it.

*MAD DOG* · 03-14-2013, 07:55 AM

Weeks 11 & 12

12 weeks and still at it.

*MAD DOG* · 03-27-2013, 07:04 AM

Weeks 13 & 14

Everyone else still at it?

01-17-2013, 07:52 PM	#19
yaris2010RS View User's Garage Drives: no-longer-boosted '10 Yaris Join Date: Nov 2009 Location: Angus, Ontario Posts: 1,891	i will also be starting tomorrow, seeing as im young and i should be making more money then i should spend im going to try to be a little more aggressive with $10 increases per week. this would mean my biggest payment would be $520 but would be left with 13,780 at the end..... __________________ If it has boobs or wheels sooner or later your gonna have problems with it

01-17-2013, 09:42 PM	#21
yaris2010RS View User's Garage Drives: no-longer-boosted '10 Yaris Join Date: Nov 2009 Location: Angus, Ontario Posts: 1,891	unfortunatly i fail at savings plans as i have never had a structured plan. hopefully this one will work. __________________ If it has boobs or wheels sooner or later your gonna have problems with it

01-18-2013, 09:13 AM	#23
suckerface #1 Lemming Drives: Light Blue '08 Yaris Join Date: Mar 2010 Location: Milwaukee, WI Posts: 760	Are any of you familiar with Dave Ramsey? My dad is a HUGE believer in his Financial Peace series (has actually taught 5 or 6 sessions). He's convinced that, had him and my mom started this when they got married, they'd be millionaires. My fiance and I are going to sit down and go through the course before the wedding. It's mostly just common sense things, and holding yourself accountable for the money you spend frivolously. LifeHacker also has some good finance tips here and there. It's also nice to set up a Mint.com account to see where your money goes, and set alerts for when you go over a budget. __________________

01-30-2013, 08:39 AM	#25
ilikerice Drives: 2010 black yaris Join Date: Oct 2010 Location: savannah, ga Posts: 2,868	401k is making bank for me right now.. I set mine up at 10% before taxes are taken out. After my wedding, I am going to up it to 20%. I like this because I actually never see my money getting taken out. I just base my life around the money I am bringing home. This is easy if you have a consistant flow of money each week. I can see how it is alot harder for people who live off tips or an unsteady weekly schedule to save like this. Its all about discipline __________________ -Derrick- "Racing is important to men who do it well. When you're racing... It's life. Anything that happens before or after, is just waiting."

02-13-2013, 03:40 AM	#26
MAD DOG Drives: 2011 Toyota Camry Hybrid Join Date: Oct 2008 Location: Victoria, Australia Posts: 6,412	Weeks 7 & 8 Wow 2c interest credited :) At least I've stuck to it so far. How's everyone else going? __________________ "Manual labour is not for me. In fact i'm not even sure non manual work is either." -Anthony Linton Check out ▬▬► I like I like ◄▬▬ for more fun on Facebook

02-24-2013, 01:07 AM	#27
nookandcrannycar Drives: 2('14+'07)MT 3d ,wHandCrWndws! Join Date: May 2009 Location: S.MontgomeryCnty,TX(HoustonMSA) '07=BayouBlue=300,125miles=OrigOwnr '14=ClassicSilvr=29,059miles Posts: 4,839	If at all possible, take advantage of all of the tax deferred accounts that you may be eligible for, and contribute the maximum to each .

02-24-2013, 03:35 AM	#28
MAD DOG Drives: 2011 Toyota Camry Hybrid Join Date: Oct 2008 Location: Victoria, Australia Posts: 6,412	Different countries. Different tax rules. __________________ "Manual labour is not for me. In fact i'm not even sure non manual work is either." -Anthony Linton Check out ▬▬► I like I like ◄▬▬ for more fun on Facebook

02-24-2013, 08:48 AM	#29
Klink10 View User's Garage Drives: 2007 Yaris Liftback Join Date: Sep 2007 Location: 910 Posts: 1,229	Good for you. The only thing that upset my savings plan this month was a bottle of Scotch, replacing cracked bath tub, replacing the sink diposal and a new winter coat. Still managed $1700 bucks.

02-28-2013, 12:07 PM	#34
yaris2010RS View User's Garage Drives: no-longer-boosted '10 Yaris Join Date: Nov 2009 Location: Angus, Ontario Posts: 1,891	unfortunately i did not have a seperate savings account to do this in so its hard to see but its still money being saved! great idea. My mom is also doing it. __________________ If it has boobs or wheels sooner or later your gonna have problems with it

03-14-2013, 07:55 AM	#35
MAD DOG Drives: 2011 Toyota Camry Hybrid Join Date: Oct 2008 Location: Victoria, Australia Posts: 6,412	Weeks 11 & 12 12 weeks and still at it. __________________ "Manual labour is not for me. In fact i'm not even sure non manual work is either." -Anthony Linton Check out ▬▬► I like I like ◄▬▬ for more fun on Facebook