Tuesday Challenge 12/19/23
By Jim Bauer
@porwest (92588)
United States
December 19, 2023 6:53am CST
Yep. But of course. I am still doing it even if I skipped mentioning about it last week. But the Tuesday Challenge is still on, and as of today I now have $191 in my envelope.
It's an easy and fun way to sock away around $1,000 if you do it for a year. Basically, each Tuesday you put the dollar amount of whatever the date on the calendar happens to be.
For December you have the 5th, 12th, 19th and 26th which all fall on Tuesdays. So, on each of those Tuesdays you put $5, $12, $19 and $26 into your envelope respectively.
It won't make you rich, and it's up to you what you want to do with the money you've saved. Take a little vacation. Pay off a credit card. Start an emergency fund. Invest it. Go on a shopping spree. Use it for a Christmas fund. The choice is yours.
How much is in your envelope?
7 people like this
7 responses
@arunima25 (87854)
• Bangalore, India
19 Dec 23
That sounds interesting. I generally put my money in the bank. When I was young, we got pocket money every Sunday from my mom. So, whatever was left from the previous week, I would put it in the piggy bank. And it slowly would be a good amount in the end of the year.
2 people like this
@arunima25 (87854)
• Bangalore, India
20 Dec 23
@septabchips Interesting! Reading this, I feel like restarting it
2 people like this
@moffittjc (121714)
• Gainesville, Florida
20 Dec 23
I typically try not to spend mine. It’s fun watching the amount build week after week. And usually when I get to a certain point I will move all or a portion of that money into an investment account.
2 people like this
@moffittjc (121714)
• Gainesville, Florida
23 Dec 23
@porwest It can be hard not to spend it when inflation is outpacing income growth.
1 person likes this
@marguicha (223776)
• Chile
19 Dec 23
I started just this month but I´m doung it in earnest
2 people like this
@marguicha (223776)
• Chile
19 Dec 23
@porwest The next time I go on vacations, I might even have enough money to pay for my lodgings with it.
1 person likes this
@lovebuglena (44721)
• Staten Island, New York
19 Dec 23
I've never thought to do something like this. Interesting idea.
2 people like this
@lovebuglena (44721)
• Staten Island, New York
20 Dec 23
@porwest I remember hearing many years ago someone saying, instead of spending money on lunch they take what they would have spent on lunch and put it aside. Don’t remember if they took lunch from home instead or if they skipped lunch altogether. But the money put aside added up…
@2ndchances24 (9290)
• Cloverdale, Indiana
19 Dec 23
That sounds pretty interesting to do to save $ back
I just let mine build up in the bank till I have enough
to take OUT & put in my 2.500 I have been sitting on.
1 person likes this
@2ndchances24 (9290)
• Cloverdale, Indiana
20 Dec 23
@porwest 5% isn't very much, but I do have it in the
bank right now till spring, cause I have to get the other
stuff for the cabin & as long as it's in the bank it's safe.
1 person likes this
@porwest (92588)
• United States
20 Dec 23
@2ndchances24 What are you talking about? 5% is not much? It's the highest rate on savings accounts in 40 years! lol. I mean, I will grant you, based on my average returns in the stock market it's low. But for a savings account? It's astronomically high. If you have the money in a traditional savings account at a bank you are getting less than 1%.
1 person likes this
@septabchips (1141)
• Nigeria
20 Dec 23
I have not had of this before. Can someone pls tell me more about it? What's it called and how do you register? Do you get interest on your money? Is it safe?
