For the first Monday of the year we decided to begin our – Envelope Money Savings Challenge . A tradition we started two years ago. You start by taking a stack of envelopes and number them. Last year we did 1 to 100. On a designated day, select an envelope, and depending on the number put that particular amount inside. The mystery of it all makes it sort of fun. At least it was for me, last year poor Allen kept choosing the higher numbers.
This year we are starting off with something we can be really consistent with – 1 through 50. At the top of each Monday, Allen and I will select one envelope and commit to putting aside that particular amount by Friday. We set a goal for six months in, to reinvest the money into expanding our stock portfolio. The beauty is we are working together to reach it – No excuses. We realized there’s so much we want but it’s going to take sacrifice and commitment to get it.
I know I’m not the only one. I’m sure we all are trying to secure financial freedom. Or, at the least use the extra money to get some things done. So what better way to start then now. All you need is a box and some envelopes. Take a moment to figure out what range of numbers works best for you. And, the time frame in which you want to complete the challenge – remember try to keep it manageable so you can stick with it. The more realistic we are with our finances the easier we can see this all the way through.
Don’t forget to set a goal. What do you want to achieve. A vacation, increased savings, home renovation – the possibilities are endless, make it personal and let’s get it!
