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$20K Challenge

December 19th, 2009 at 05:04 pm

I like the idea of the $20 challenge though I don't really understand the $20 part of it.....but I would like to start my own challenge towards $20K in nonretirement savings.

Current = $7987.06
+10.00 Rebate from UV Vodka
+42.94 Even out balance
New Total = $8040.00

This is our total non retirement savings, including amounts that are already ear marked for purchases/trips.....so I know the balance will be going up and down, but hopefully an overall trend of UP! First I would like to get the total savings to $20K and then move to getting just the EF to $20K.
DH has a check from his great grandma for $200 for xmas.....I am trying to get him to let me put it in savings....but is his check so he can use it for what he wants, we will see what he decides! Smile

4 Responses to “$20K Challenge”

  1. Ima saver Says:

    I love the $20 challenge. You just start with $20 and do anything you want to, to add to that amount. I save all my ones, save coupon money, rebates, do surveys, etc. etc. etc.

  2. Sarah Says:

    I am kind of doing this. I will be saving all rebate money (since it is originally coming out of my MISC budget), and putting it in the "baby" fund Smile I like the idea of looking at your receipts and putting the money you "saved" into savings - the problem is that I dont have that money to put into savings right now. One of these days, maybe.

  3. GusitaRenkr Says:

    Great idea and great goals you have! We are using 25 percent of any gift money we get for fun/wants, the other 75 percent is going straight into the baby fund.

  4. Broken Arrow Says:

    Well, the $20 challenge is flexible, and you can define it any way you see fit. For example, you can make it a $20 a day challenge, such as increasing your retirement an average of at least $20 a day (which gives you $7300 total).

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