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At the start of a new year, one of the common resolutions is to be a better steward of money.  How are you doing thus far?  Saving money is not always easy.  One of the best ways to save money is to track your spending habits to determine where you  can cut back on spending.  I challenge you this month to work towards saving money.  Sometimes, when you add a goal to the reason why you are saving money, it can serve as motivation for saving.  So, think about a financial goal you want to achieve (what you want to do with the money).   

 

Starting February 1, 2025, start planning to save by participating in the 120 days money challenge.  How this challenge works is that for each day of each month, you save the number of dollars for each day for up to 120 days.  For example, the 1st = $1, 2nd  = $2, 3rd = $3, etc. so since there are 28 days in February, by the end of February, you should have a total of $406.00 saved. By the end of March, you should have a total of $1,365.00, by the end of April, you should have a total of $3,451.00 saved, and by the end of May, you should have a total of $6,675.  When you are able to reach this goal, you can continue to extend the savings for another four months to save more money.

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Use the money saving method that works best for you and your financial situation and budget.  (February has 28 days, March 31 days (Keep in mind that March 1st would be considered day 29), April 30 days (April 1st would be day 60), and May 31days (May 1st would be day 90) the last day of May would be120 days).    Try to stick to the money saving goal and good luck!​​

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By Jason Torrents