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!!!
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