Few things change your life as much as finding out you’re pregnant- it’s an exciting period of time, but it’s also slightly stressful! One of the reasons is because the clock is ticking and you know you’ve got less than 9 months to get your act together. It lights a fire under you and it’s an amazing period of transformation, for all parties involved! And similarly when it comes to our money, a special circumstance can often be the stimulus we need to make wiser financial moves, but what if it’s not enough? Or what if you don’t have any unique excuses to get your financial house in order? Well that’s where money challenges come in handy. Sometimes the reason that we’re not able to make any progress with our money is because we don’t have clear actionable steps that we can immediately take. Maybe you don’t have any accountability or you think it’ll be a load of drudgery. Whether you’re looking to spend less, boost your earning, or invest more of your money, this episode is all about jarring you out of your typical habits and routines. Sometimes what you need is a challenge that can serve as a wake up call to further you along in your financial journey.

Sign up for a money challenge here!

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Money Challenges
  • Extra cash – And regardless of where you are on the path to financial independence, we believe in the responsible use of credit cards. It’s smart to utilize the additional benefits that credit cards offer- for instance the 60,000 points that come with the Chase Sapphire Preferred Card. That’s $750 when you redeem through Chase Ultimate Rewards! This is no joke- I’ve already done this myself which we discussed on a recent episode after I met the initial spending requirements of $4,000 over 3 months!

During this episode we enjoyed a Double Barrel Wild Sinister Kid by Trillium Brewing – a big thanks to Ali for donating this delicious craft beer to the podcast! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!

* Advertiser Disclosure: How to Money has partnered with CardRatings for our coverage of credit card products. How to Money and CardRatings may receive a commission from card issuers.
* User Generated Content Disclosure: Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

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2 comments on “These Money Challenges Can Jump-Start Progress – Episode 458

  1. Reynaldo. Jan 5, 2022

    I’m exicted to start this challenge. A little nervous, just because I’ve always wanted a motivation to save money and listening to you guys puts my thoughts in order as in where to direct my money. Which made me realize that I’m a little behind but that’s okay because with this Challenge I want to save up towards my emergency fund. I’m not quite sure how much the 52 week challenge will help me save up but I do want to know how much do you recommend to put towards my emergency fund every week ? I want to mention after paying all my bills I have $300 left every paycheck but deduct gas and food from that amount. I do eat at home and I live 5 min away from my job which also helps me save towards gas. Would it be smart to save $50 dollars every week or more ?

    • Hey Reynaldo- so the 52-Week Savings Challenge will have you saving up $1,378 by the end of the year and you’re only saving $1 the first week. Of course it builds ($2 the 2nd week, $3 the 3rd…) but it can be a great way to feel a sense of accomplishment in a sustainable way.

      But do what you think will work for you- maybe in your case you can double the savings amount every week so that you can double that savings amount to over $2700 by the end of the year. But either way sign up and we plan to offer tips and encouragement along the way. Thanks for listening to the pod!