52 Week Money Challenge vol. 2014.... Week 24 - 6/9

[iamjusayn]

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Upgraded from a shoebox .

Put that in the bank or credit union n earn a lil interest on it.

 

[luong1209]

View media item 721441
Upgraded from a shoebox .

Put that in the bank or credit union n earn a lil interest on it.

Correct me if I'm wrong, but you will not generate much interest from that.

I need a jar, I'll put a dollar in now!

 

[zapatohead408]

In. Going to try and start by doubling it each week

On your 52nd week you would have to deposit $2,251,799,813,685,248.

View media item 721441
Upgraded from a shoebox .

Put that in the bank or credit union n earn a lil interest on it.

Correct me if I'm wrong, but you will not generate much interest from that.

I need a jar, I'll put a dollar in now!

at the end of the year you might make a few dollars. There's honestly no point other than having more money in your account and creating a better history with the bank.

Even the highest accounts (25k+ combined balance) won't give you 1%.

Interest doesn't play a part in this challenge, don't let anybody tell you otherwise.

Now, if you qualify for a free account, depending on what the bank requires for it, it's not a bad idea if you'd like those extra $3 a year.

 

[zapatohead408]

also, not trying to be THAT guy, but for people who pay for phone insurance, with a Wells Fargo credit card if you pay for your phone with it you get $600 towards a new phone if anything were to happen to yours. No need for insurance.

It also covers insurance on rental cars.

 

[6 Rings G.O.A.T.]

That jar is pretty cool..

 

[Retto]

Weeks 1 && 2 covered so far.

 

[semf]

back in . . .

 

[throwback1718]

What do you guys think about alternating the weekly deposits?

Example,
Week 1 , $52
Week 2, $2
Week 3, $50
Week 4, $4



and so on and so forth? I get paid Bi-Weekly and I've got other obligations, and savings going on.... Dont want to exhaust myself before the next paycheck.

Am I not compensating for anything?

And I might use that jar method too. Putting it in a savings linked to my checking is just asking for problems.

 

[lamekilla]

Week 1 just covered

 

[dabottom305]

What do you guys think about alternating the weekly deposits?

Example,
Week 1 , $52
Week 2, $2
Week 3, $50
Week 4, $4

And I might use that jar method too. Putting it in a savings linked to my checking is just asking for problems.

I like that method.

Week 1, I deposited $5 in the box I used last year and $20 in a second savings account I have. This week I'll put $21 in the box and $6 in the savings. I'll see how far I can take it.

This is the box I used last year. Took the cash out. Forgot I never converted coins.
View media item 732160View media item 732159

 

[capricdragon]

View media item 720254
I guess as long as you are working you should be about to do this.

An easier thing would be to save $27 per week. Should equal to about the same thing at the end.

I like that too. May round it to $30/week.

 

[lucho]

I'm about to grab a shoe box and throw the funds in there.

 

[mikeycorleone]

This sounds like a great idea, imma try it out. wish me luck!

 

[iamjusayn]

Correct me if I'm wrong, but you will not generate much interest from that.

I need a jar, I'll put a dollar in now!

Safer than a shoe box and with my credit union the interest earned was worthwhile. Plus if you are going to save why not leave a paper trail aka history.

 

[brkfstchampions]

Checking in for my 2nd week .. just made my transfer to my savings account.

 

[gameovertripleh]

Still going strong after the first two weeks. Let's get it!

 

[ballahb]

Week 2...in

 

[semf]

the only downside of a shoebox or a jar is that it's tempting to start taking a few dollars here or a few dollars there.

 

[liltank0206]

got up to 88 dollars in week 12 last year and my bank account got hit and went in the negative and took everything........
got a new account this year with a credit union and ill be starting over this year good luck bro's !!

 

[dabottom305]

the only downside of a shoebox or a jar is that it's tempting to start taking a few dollars here or a few dollars there.

I got mine taped up.

 

[melo0115]

Deposit of 100, and the scheduled deposits of week 123...  

Peep i need help, I'm with a credit union, and I want to open up a separate savings accounts that takes 20 percent of my paycheck every month. I'm still hourly so no IRA level yet, but i kind of just want a process of out of sight out of mind, the money automatically goes there on pay day and the only time i see it is if i sign into to check on it, and its not connected to my main banking process that i check on the daily.

 

[bennyice47]

Week #2 deposit in ($4).. Putting in the multiples of $2 still... On pace to have $2,756 by the last week.  Let's do this.

 

[105950]

 

[sarkastikbuchan]

^ 

I'm about to start doing this but doubled.  I need more discipline when it comes to money and this should hep me out.  Good luck everyone!

 

[spidermachine916]

ugh........too lazy to go to the bank right now |I
will put in 52 tomorrow