I’m making my own 2020 challenge. Here are the rules (subject to change based on my whims):
Commit to saving $20 per week or per month in a hard to access or tax advantaged account.
Keep me updated on your success!
If you are able to attempt the harder challenges you may not join this challenge! But if you push yourself to try the 20% and life happens and you drop out of a bigger challenge I will welcome you with a big hug.
I don’t have the authority to grant stickers, but I will provide monthly trophies. These will be late, or done by a substitute the month I produce an heir.
You can have a makeup month if you need it because life is hard.
***This challenge is for you if you are new to saving/investing, very low income or still paying down debt, a minor, prone to a traitorous body or big kid changes. With all those hurdles, it is super amazing to contribute 20/month to one or more big account.
Yay, a challenge I think I can actually do! I will commit to adding $20+/month to my Roth IRA, as long as it is okay for it to happen in inconsistent lumps. I have trips planned for March, April, and May/June that will increase my spending and decrease my income for those months. But it should still total at least $240 for the year.
Hi Team! And anyone new we can recruit… we’re almost at 2020, time to get those $20 bills ready to go! I have realized that I can’t actually put 20 at a time into my investments, so I’m going to be putting it in my savings account and investing every other month. Or trading between the 2 accounts. When I have the energy to plug in my laptop I will automate it and then tell you!
I’m also hoping to start giving $20 to charity every month, but not as an official goal. My charitable giving has been not great recently. But I did give Wikipedia a 20, so that’s good. I’m all about the 20s. Also, $20 bills are the only ones that match these green emojis!
I have an automated $25 going to my RRSP, and an automated $15 going to a savings account (my trade minimum is $25, so I’ll invest the $30 in February in my TFSA).
I gave $20 in support of a favourite forum.
Next month will be a new adventure!
I wish that other times in my life that I was right on the line I’d invested 10 or 20 a month. I always thought it wasn’t worth it.
Tonight I sent $82.38 to Vanguard! That covers my $20 pledge for January, plus March, April, and May, when it’s pretty unlikely I’ll be able to contribute. I hope I can do the same in February, making enough to cover my pledge for both February and June. But February being a shorter month, it’s a bigger challenge to bring in enough to do that. Game on.
This challenge has been really helpful! The second half of the month was painfully slow for business, but the first half was so good, I just knew I was going to have a good report for y’all. It was exciting.
i opened my first savings account with a high yield interest rate aug 2019 & transferred a lot of my money in there. now i’ve just started reading the book & decided to start being more proactive so i have set an auto transfer every month of $40!
Also, $20 bills are the only ones that match these green emojis!
