<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > 2020 Savings Challenge

2020 Savings Challenge

December 13th, 2019 at 09:02 pm

I've seen some talk on the internet about a 2020 Savings Challenge. The idea is to save up $2,020 next year, by setting aside $38.85 per payday, assuming you are paid weekly. I'm primarily sharing, in case you were wanting to find a way to challenge yourself to save more money in 2020.

I'm pondering some sort of challenge to save more. I'm not sure yet what that would be. In this scenario, my husband is paid twice per month, so that would be $84.17 per pay period.I 'think' we could technically do this, but I need to run numbers.

We have added a new expense this year...health insurance premium for our oldest daughter. She can stay on current plan, but because as of next week she will not be full time at school, AND in March she turns 23 which ages her out of the option to stay on the plan without a premium. Fingers crossed she gets a job with health insurance, so we can cut that expense. We are happy to provide it, just not excited about paying it...who ever really is right?

The exciting thing about 2020 for us is that we expect my husband to be promoted to Lieutenant Colonel, which is a very nice raise of nearly 18%! We do not expect that to happen until May or June.

Generally, we save what we save. But it can be easy to become complacent and not save as much as possible. Are saving challenges helpful to you? Are you planning to do one in 2020?

Posted in Saving | 5 Comments »

5 Responses to “2020 Savings Challenge”

  1. My English Castle Says:
    December 13th, 2019 at 11:56 pm 1576281360
    1576281360

    That sounds like a fun challenge, CCF! And congrats (we hope) to your DH.

  2. Wink Says:
    December 14th, 2019 at 01:43 am 1576287822
    1576287822

    Congratulations to your husband, that's a hefty raise!

  3. terri77 Says:
    December 14th, 2019 at 03:12 am 1576293139
    1576293139

    Nice raise!

  4. mumof2 Says:
    December 14th, 2019 at 07:17 am 1576307845
    1576307845

    I'm going to do the 52 week challenge next year..just for fun...hope your hubby gets his promotions..that would be a great raise

  5. rob62521 Says:
    December 14th, 2019 at 10:11 pm 1576361499
    1576361499

    That's an interesting savings challenge. At this point, I am pretty good about putting money in savings when we get paid at the first of the month. I'm just wondering if I could up our savings a little more and do this. Thanks for sharing.

    Congrats to your hubby on the promotion. That would be wonderful!

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]