Monthly Update

 Monthly update:

I've officially made my goal of saving $500 this month, which i knew would happen anyway. I've decided to change up my strategy though. I have this issue where I get paid every other Friday and I've spent most of my money by Tuesday. One time I ended up so broke that I took out a small loan because I either put too much in savings or spent too much. So here's my new strategy:

When I get paid( I make $1100-$1200 every 2 weeks) I will pay my rent if I haven't yet. Then, any small debts I have. If what I have left is over $400-$500 then I can use it to save or invest. If not, im still going to put money into savings, but just smaller amounts. I think I'll just put $10-$15 per day into my savings account or investment account. This way I still have money in my account in case I need it, but I'm still saving up. Also, I will continue to use a self loan as a way of saving money so I can't spend what I save. It's worked pretty well so far. 

Talk to you guys Later!

 October Update:

My goals for the end of September was to save $250 which is pretty easy for me. I made my goal and I'm already almost to my $500 savings goal for October. Pretty good so far. I think that December, January, and February are going to be my toughest months. I haven't really even started doing too much investing. I've saved my money by putting it into a $1,000 self loan because I was scared of keeping the savings too accessible. A few months ago I had a $1,000,000 million in a year false start. I had saved $350, but it was easily accessible and I ended up spending it. The sad part is I don't even remember what I spent it on. That's all for today, I will post again at the end of the month.

1 Year to $1 Million Challenge

 

Welcome Friends and Internet Trolls! I have decided to embark on a new challenge for this year. I am challenging myself to double my savings every month until I get to $1 Million Dollars.

The Challenge: Double my Savings each month starting with $250 to $1 Million

Where I got this crazy idea: I'm a big fan of Roger Hamilton who is a writer and trainer on Wealth Dynamics. When he was starting out, his mentor suggested that he save $100 and double it each month until he was saving $200,000 per month. Roger was amazed by his results and I equally want to surprise myself with what I'm able to do.

Why Me: 

I am a woman who graduated college in 2011 and has struggled with her finances ever since. Now that I'm in my early 30's, I want to challenge myself to save a million dollars just to show that anyone can do it. I"m not good at saving money. In fact, I'm way better at spending it. I don't make 6 figures. And I'm not an investing genius. I make $19 per hour and the most I've ever saved at one time was $4000 in 2 months and that was because I wanted to move to a new apartment.

How I will break down my savings goals:

Monthly Goals: 

September 30th: $250

October 31st: $500

November 30th: $1,000

December 31st: $2,500

January 31st: $5,000

February 28th: $10,000

March 31st: $25,000

April 30th: $50,000

May 31st: $100,000

June 30th: $250,000

July 31st: $500,000

August 30th $1,000,000

How I intend to make it:

Working full-time at my measly corporate job making $19/hr

Working part-time selling beer at football games

Buying and selling stocks

& other assorted side gigs!!!

How will I evaluate it:

Every week on Sunday I will make a post on how things are going and where I'm at. At the end of the month I will evaluate my savings and checking accounts and announce whether I made my goal and what I did that worked out well and what didn't work out well. So, here goes nothing...

Wish Me Luck!!!