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Last Updated on August 15, 2018

How to Save a Bunch of Money Easily With This Simple Challenge

How to Save a Bunch of Money Easily With This Simple Challenge

Do you find it hard to save money? If so, you’re not alone. A recent survey found that 62% of Americans have under $1000 in savings.[1] This can be disconcerting when we think about the future – buying a house, car, or even much-needed holidays – our desire to be successful in saving money is important to our peace of mind and security. But could there be a simple and easy way to encourage our saving habits?

Video Summary

What is the 52-Week Money Challenge?

A new concept has become increasingly popular that does just that – the 52-week money challenge.

The idea is to focus on each week, starting small, and gradually building up the amount of money you save. It’s not only consistent, but it takes away the pressure of taking big chunks of income each month which, let’s face it, never feels great. Intrigued? This is how it works.

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You start by saving just $1 in week 1. The next week it’s $2, the third week it’s $3 and so on. The idea is that by week 52 when you’ve saved $52 in that weekly period, you will have amassed $1,378.

What Are the Pros and Cons?

The best thing about this 52-week money challenge is anyone can do it. It’s doable and you can adapt it to your needs.

For example, you can reverse the process by saving $52 in week 1 and working backwards. This is particularly beneficial for people worried about having to put away $52 during the end of the year holidays.

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You could even mix the amounts up according to how much or how little you have each week, making smaller contributions when the purse strings are tighter or choose a higher amount when you can afford more. Either way, it’s a solid, simple way to save up a sizeable chunk.

There are potential cons to this challenge. One is that it can be hard if you’re used to handing over your debit card instead of using cash. But setting up a bank transfer could help here.

Want to Try the 52-Week Money Challenge? Here’s How to Get Started

Whether it’s saving for a holiday, putting more towards your mortgage or other monthly or yearly bills, starting this challenge will get you motivated to putting aside those all-important dollars.

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Write It Out

Write out (or print out) a list of each week and the amount to save. Having it as a reference will allow you to see your progress. Cross off each week or each amount you’ve managed to achieve.

Set Up Reminders

Once you’ve reached a few weeks it can be easy to start forgetting to put your money aside. Make sure you set up a weekly reminder on your phone or desktop to help you keep on top of it. Keep the cash jar in a place where you can see it and will serve as a reminder. Alternatively, set up an automatic bank transfer so you don’t have to think about it at all.

Make a List of Ways You Can Save

There are literally hundreds of ways you can save dollars here and there. The first weeks will be easy but as it progresses, finding ways to tuck away $40 or more can get tricky but it’s not impossible.

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Think of ways to cut back or generate money – these could include:

  • Selling unwanted items
  • Making gifts for people instead of buying
  • Switching off your heating for longer periods
  • Car sharing to save petrol
  • Walking instead of driving
  • Negotiating a better contract for your phone, heating or water supply
  • Switching off unneeded lights
  • Cooking big meals and freezing them for future meals
  • Looking for deals or discounts at your grocery store
  • Choosing shop brands over big brands
  • Making your lunch instead of buying it

Once you have a list of practical ways you can save, estimate how much money could could potentially save for each one. For example, buying lunch every day could cost $5-10 so ultimately saving you around $30 a week if you made your lunch instead.

Be Competitive

Why not turn this challenge into one with your friends or spouse? Having someone there to motivate you will spur you on and keep you on track. Have an incentive going like the person who saves the most money gets to choose the next big vacation.

Every Little Helps

The main importance of the 52-week money challenge is that it’s encouraging you to save. If 62% of Americans are not regularly saving then it shows that anything that’s getting you to put a few dollars aside every week is better than not saving at all.

Remember, it’s the small steps that lead to the big progression. Don’t feel discouraged if you can’t fulfil an amount in a particular week, just know that your willingness to put a strategy in place is good enough. Keep a positive mindset and see how it’ll reflect the money you’ll ultimately save in a year.

Reference

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Jenny Marchal

Freelance Writer

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Last Updated on December 13, 2018

There Is More to Life Than  ____________

There Is More to Life Than  ____________

I decided to leave the title of this article open ended, because I’d like you to fill in what words best fit that blank. We’re all unique individuals from different walks of life, and in different stages of life; so, that sentence will have a different meaning for each of us.

If you’re a busy working professional, why are you working in the job that you have now?

Is it because it’s something you’re passionate about and brings you a lot of satisfaction? Or, is it because you studied that in college and just found a job that hired you for those skills? Perhaps it’s because of the money that you’re earning, or know you can earn down the line?

What if you’re about to retire? You’ve got, say, 2 to 3 more years before you hit your ‘deadline’ for retiring. Have you done all that you’ve wanted to do in the past 30-40 years? Any unfulfilled goals or dreams? Are you happy with the outcome of your life to date, all the decisions and/or risks that you’ve made thus far?

I’m sure many of us started working after college in hopes of earning a good living–to be financially stable and able to afford the ability to experience and do things that we love. We start establishing a career, and with time, tick off boxes on our bucket or ambition list. As you look back on the last couple of years, just how much of your time has been spent doing things that you enjoy and love–the things that give you a great sense of fulfillment and meaning?

Have you become a slave to the economy, a slave to your work, or a slave to your kids? Or have you found a balance between work and pleasure?

When is Enough Ever Enough?

Sadly, many of us live to work.

Realists would argue that if you truly want to work to live, you still need the finances to back that up. No money no talk. That is how the world runs today. So if you don’t earn or make enough dough, it’s hard to truly enjoy life; it’s hard to be happy without money.

So, in this quest to provide just that, many of us end up spending our whole lives pursuing wealth and a life of status and material wants. But, is it ever enough? Is there such a thing as having too much money? And, at what expense?

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Many wealthy entrepreneurs, millionaires and even billionaires have come to agree that money doesn’t bring you all the happiness in the world. It’s good to have, but it doesn’t truly satisfy all desires. There comes a point where you would have ‘had it all’ and still feel a sense of emptiness: an empty void that needs to be filled, not with money or material possessions.

So the question is then, what more is there to life if not for financial stability, status or material possessions?

How do we make work a part of life instead of having it consume our life entirely? Perhaps we need to go back to look at the word life itself.

What is Your Purpose in Life?

What is the nature of life? What does life mean to you? Is there a purpose?

If we seek jobs, all we will find are jobs. But if we have a sense of purpose in how we are productive; if we seek a calling, then we will find more than a job. We will find our contribution to humanity and we will find more to life. Would you agree?

Research has shown that having purpose and meaning in life increases overall well-being and life satisfaction, improves mental and physical health, enhances resiliency, enhances self-esteem, and decreases the chances of depression. So it should be noted that to be happy in life isn’t always enough, because happiness is a surge of emotions that does not last. Instead, it’s more important to find and have meaning in life.

Meaning is not only about transcending the self, but also about transcending the present moment. While happiness is an emotion felt in the here and now, it ultimately fades away, just as all emotions do; positive affect and feelings of pleasure are fleeting. The amount of time people report feeling good or bad correlates with happiness, but not at all with meaning.

Have You Been Going on a Wild Goose Chase?

Ironically, the single-minded pursuit of happiness is leaving people less happy. “It is the very pursuit of happiness, that thwarts happiness”, according to Viktor Frankl, a famous Austrian Neurologist and Holocaust survivor. Going back to the common example of pursuing riches in order to be happy is exactly what makes many so unhappy.

So again, look at the statement “There is more to life than ______.”

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Have you answered it meaningfully? If you’ve read on this far, and are now wondering how to take that first step to figuring out what your true purpose is in life, fret not; I’m here to help you reframe your mind and actions, so that you can embark on a journey of finding true meaning to your life.

Everything that you can do and accomplish in life are bounded by 7 Cornerstone Skills. These are the true essentials needed to achieve excellence. They’ll put you on a path that gives great meaning and satisfaction in life. And, the best thing of all? They already exist in each of us. We just don’t always make the most of it, or sometimes we aren’t even aware of the power that each of these skills have to help us in life.

On it’s own, each skill is unique and can help you through different stages of life, or problems. But as a whole set, these 7 Cornerstone Skills will give you full transformation over any situation. No matter what phase of life you’re in, what you’re striving to achieve, or what feel you’re lacking, your pursuit of meaning in life will be much faster when you’re able to make use of not one, not two, but all 7 Cornerstone Skills.

The 7 Cornerstone Skills

So let me give you a glimpse into what these 7 Cornerstone skills are.

Creativity

Creativity empowers you to find unique solutions to problems, and see things in ways that you least expect.

It goes beyond the artistic impressions and aesthetics, and is a crucial building block of change.

Learning

Without Learning, you will not be able to advance and progress in life. Yet, there are many of us who always fall behind not because they don’t have the intellectual ability, but because they don’t know how to learn effectively.

Memory

And then we have Memory, one of the most vital components, because without that you have nothing to fall back on, nothing to gain from all the learning or experiences that you’re exposed to on this earth.

And with an ever increasing amount of information available, how can you store up as much knowledge as you can without overloading?

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Focus

And with any and everything that you do, a certain amount of Focus is always given.

Whether it’s the career ladder that you’ve been climbing, or the responsibility of being a parent, Focus is a flow that allows you to push towards the progress that you’re striving for.

Without focus, we find ourselves lost, demotivated and stuck in a rut.

Motivation

Many of us aren’t happy in life or with our jobs and responsibilities because we lack Motivation, and an overarching purpose as I already mentioned earlier. Motivation helps drive you forward, and gives you the focus achieve your purpose.

Habits

If you realize, every new day that comes is filled with routines. Whether it’s getting ready for work in the morning, putting your kids to bed in the evening, or setting aside time during the weekends for family time and activities, it all happens as a result of habits that you’ve built over time.

Therefore Habits dictate a big part of your life. Pursuing happiness, money or meaning all have a dependency on your habits. If you find yourself being controlled by bad or negative habits, it’s more likely to hinder you from being productive and reaching those goals.

Time

This also ends up leading to bad use of Time, or poor time management.

You might feel like you haven’t built a stable career yet because you lack proper time management. You find yourself spending a lot of time being busy, yet producing little outcomes.

Or certain habits might be consuming time that you can be using for other more productive tasks.

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Perhaps you’re on your way to retirement, and feel like it’s too late to find new meaning to your life. There’s not much time left to embark on a new journey again.

Are You Ready to Live Your Best Life?

The simple fact is, that if you can sharpen these 7 Cornerstone skills, you will realize that finding meaning in life, or reaching the goals and ambitions that you’ve set out for yourself, no matter what stage of life you’re in, is very attainable.

There is no magical method to having life figured out. The skills have always been there since day 1, you just need to know how to use it to the best of your advantage.

And I’m here to show you just how you can do that. Lifehack is all about equipping you with the best and most effective ways to increase your productivity, motivation and focus to achieve true Purpose in life, in as little time as possible.

Embark on a transformational journey with us as we show you how to learn and improve your 7 Cornerstone Skills so that you’ll come out a new person, ready to either pursue your existing goals at a much quicker rate, or to find new goals to pursue without being limited by time, age or responsibilities.

If you’ve been wanting a change, or been stuck in a rut for a while now, here is your chance to get started on pushing towards progress again.

Anyone can transform, anyone can change. Are you ready to live your best life? Click here to start your journey!

 

Featured photo credit: Caroline Hernandez via unsplash.com

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