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52 Week Savings Update: May

May 21st, 2014 at 01:51 pm

Although the challenge is 52 Weeks, I am participating by saving $57 every pay period. For us that is twice per month. I have made deposits that cover weeks 1-15 and weeks 42-52. If I'm calculating correctly that puts us halfway to the goal! I did start in December so that seems right.

Our balance is $637. Well, I have a $20 referral in the account and some interest so the true balance is $657.79. We are keeping our 52 Week Savings Challenge money in our Capital One 360 account, which earns interest of 0.75% and there is no minimum balance.

Text is You too can put your money there and Link is https://r.capitalone360.com/fn3XUjpexz
You too can put your money there. Capital One 360 offers bonuses for opening different accounts. I like having it separate so we don't accidentally spend. I also like that I set up our deposits to automatically deduct each pay period so I don't forget. Makes it easy!

How is your 52 Week Challenge coming along? Are you still on track? How about your other financial goals?

Posted in Saving | 1 Comments »

1 Responses to “52 Week Savings Update: May”

  1. Dental Floss Tycoon Says:
    May 21st, 2014 at 04:20 pm 1400685639
    1400685639

    I am also doing the 52 Week Savings Challenge with a little extra added each week. At the beginning of the year I was depositing it at a local Credit Union. When the balance got to $1000.00 I stopped, because the interest rate there is a measly .05%. I just want some cash close by for some reason(short term liquidity?). I then opened an online account at SmartyPig, and started over. I set up 3 goals and each goal takes turns with a weekly deposit. It pays a lot better rate of 1.0%.

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