This is the start of a new series called Pinching Pennies. Finance mixed with DIY. What a better way to start off a new series with a new challenge and a new year?
We’ve accepted a challenge from House of Rose. The idea is to save $1,378 in one year. It’s a fantastic idea & 52 week challenge printables are all the rage right now on Pinterest. So, hop on over to House of Rose and check out this awesome challenge. Plus, for signing up with your email address they’ll even send you a money dominating tool kit.
Why this type of challenge?
We’ve been just getting by for almost two years now & we’ve decided its time our hard work starts paying off. Right now we are at a point where we only have to worry about ourselves, so things can be tight & it won’t be as hard on us.
Why not pay off your debt first?
That’s a great idea, something we are working on. However, with the husband’s work schedule {he only works, and therefore only gets paid, 9 months a year} we want to be able to survive those 3 months & know if something happens we have a back up plan. Our first year of marriage we survived those 3 months on only $600 a month. Now that we are in a better financial position we want to make sure things aren’t that tight again. So, we are paying a little bit more than our minimum payments on our debt & working on building a nice savings account to back us up.
Want to sign up? Or need to know how to follow along?
First, click on the follow button on the lower right hand side of your browser & enter your email address to keep up with how we do on this challenge. Second, hit up House of Rose – 52 Week Money Challenge & check out their awesome information & printables to help you out. You can join too, just make sure to follow all of their guidelines for the extra bonus.
What bank should I go with?
For the challenge listed above you’ll need to go with Capital One, however there are many options, Ally Bank, Bank of America, your local credit union. I recommend Capital One because out of all the online accounts {we do all of our banking online, so it just made sense for this to be an online account} this one had the least amount of fees & the most amount of benefits of the things we needed. For example, it’s free to open, there’s no minimum balance required, & no monthly service fees. Click here to open your new Capital One 360 Savings account now.
**These are not affiliate links. Just something we are doing & think it’s really awesome, so we wanted to share. All opinions are ours & we are not getting compensated in any way for them. {Just to make it clear, that means we’re not getting paid for this.}**