Are People Still Talking About the 52 Week Savings Challenge?

It’s June and two days I ago I put $21 into the jar I’m using for the 52 weeks saving challenge and I wondered “Is anyone else still doing this other than me and my two friends?” Chances are a lot of people that were all gung-ho about this challenge in January have fallen off the bandwagon already. If you don’t know what the challenge is about, you must have been living under a rock in Bikini Bottom because this was plastered everywhere. Just in case you were this challenge is basically save the amount of money for the corresponding week e.g Week 1 = $1, Week 2= $2 and so on and so forth. At the end of the 52 weeks, you would have saved $1378.

There were some who criticised it saying it was silly and did not teach real saving, but honestly if you’re not a big saver, it helps to take baby steps. The total amount at the end of year is nothing earth shattering but it will probably be more than that person would have saved if they did not participate.

Other critics mentioned how many people would not last and I can’t argue with them there because we all know how people are in January, when they’re on that “new year, new me” high. Then February comes and people just settle back into their same old routine.

What does this challenge teach me?

Determination – I’m determined to save that $1,378. I set a goal at the beginning at year and I intend to see it through.

Perseverance – Regardless of what happens each week I make sure I put that money in the jar.

Saving Money is Fun – I always saved money but the challenge helps make it fun by turning it into a game.

For now I try to save my allowance money and what I can from my transportation expense to put in the jar, but since I am now in the 20s and my allowance is $20,  I will have to start taking it directly out of the bank. I have saved $231 so far with this challenge and I more than likely would have spent that money on trivial things and would not have missed it, so it doesn’t hurt to save it.

Did you start the 52 weeks challenge? Are you still doing it? If you aren’t, why not?

Is It Bad Manners To Talk About Money?

A  few days ago I was watching the first episode of Nashville and the country star’s husband told one of their daughters that it was bad manners to talk about money. This caught my attention because I’m always talking about money and finance related topics with my friends and family. So if it’s really bad manners to talk about money then I’m one rude person.

Money is still a very taboo topic, much like sex was a few years ago, but we all know how that goes these days.

Now hear me out, I’m not saying that you should just talk to random people about your financial state, but find someone you are comfortable with and talk to them.

• Talking makes you more accountable for decisions you make
• You can get feedback or insight
• It reduces the fear of the debt or whatever financial state you are in

If you don’t discuss it or acknowledge it, it doesn’t exist. Right?

I understand why some people don’t talk about their finances. You may have been raised to never talk about money, or you may be ashamed about how much debt you have or even that your savings balance is too low. Then they are people whose bank account is healthy and don’t want people to know because they may ask for handouts or think you’re bragging.

Do you think talking about money is bad manners?

If You Don’t Owe Anyone You Don’t Have Any Money

*blank stare*

A few days ago I was eavesdropping overheard a conversation that two women were having at the bus stop. It was about mortgages and a certain store’s payment plan for furniture, so it caught my attention, even though I don’t have nor am I interested in having any of those two  things. It was a really daft conversation, but what’s a girl to do when she’s stuck at the bus stop while her headphones are at home? One of the ladies said she bought some furniture on hire purchase and her sister disapproved and the other chimed in then and said “If you don’t owe anyone you don’t have any money.”

*scratch the record*

What?!

Let’s break this down:

If you don’t owe anyone = You don’t have any money (false)

If you do owe someone = You do have money (false)

That is so silly on so many levels and really perpetuates the idea that you need to live on credit in order to survive. If you have that attitude then you will forever be in debt and you will basically be working to pay someone else. Isn’t it bad enough that you go to work to make your company richer, but you’re also making sure whoever you owe has a steady flow of income  coming from you every month.

Climbing out of debt is easier said than done, but your attitude and mindset has way more of any influence over how fast your balance decreases than how much money you make every month.

Have you ever heard anyone say this before? Do you think attitude and mindset are more influential than net pay?