As you all know, I’m all about saving money. Huff the Hubs and I went through Financial Peace University, so we utilize “the envelope system”. This means we pay for everything in cash and separate our budget into literal envelopes. Last month, I decided to do a little challenge. I told myself that every time a $1 bill came into my possession, I would stick in a shoe box in my pajama drawer. The rules were I was not allowed to spend the money until April was finished. I also tried to not count the cash–even though the box filled up quick!
After 30 days of doing this I ended up saving–drum roll, please–$84!
That’s right, people! By simply not spending my ones, I saved almost $100 in a month! If I were to continue this, I could save a little bit more than a thousand dollars in a year! That’s a plane ticket to London, mate!
At first, I thought this challenge would be difficult. After all, that’s money I could put toward stuff we actually need, like groceries or gas. But, honestly, I didn’t really miss it from my wallet. It made me more conscious of what I was spending my money on and taught me to do without.
I think this would be a GREAT way to save money for a trip you have coming up, a birthday, or Christmas! I think I’m going to keep the momentum going and do the challenge through May!
Who’s with me?
Have you done the “$1 Bill Challenge” before? What were your results?