Skip to main content

Daily Writing Journal: Week 10 of 52 weeks Mo Money Challenge - I'm feeling the heat...the stealth


Week 10 Money Drama

I'm feeling the heat of this challenge, it's not easy. I got my £10 out and bought something instead of coming straight to the tin.


So I suddenly realised why its so hard to accomplish even though it's deceptively simple. Save the number of the week and soon at the end of the year, you'll be cashed up. Sitting on the money box. The truth is that after the the single digits weeks, things become a little harder. I mean I started on week 7 and I'm feeling the heat

What makes it complicated?


Note I'm using my home currency of GBP or Pound Sterling but this applies to any currency using the decimal currency.

In the first week of single digits from £1 to £9 a total of £45 is saved. Now this the baseline savings.  The for the next ten weeks from 10 to 19 a total of £100 is saved plus the based rate of £45. Now this means getting £10 plus whatever number from 1-9 to put into the kitty - tin.

Now this is find until the challenge starts to approaches the 20s, 30s,40s and each of those weeks will have the additional baseline savings of £45. Personally, I think it's hard to maintain especially if one is on a lower income. It sounds simple but not.

Alternatives

Save a consistent amount periodically and regularly preferably when your salary or wages or pay cheque/check hits the bank. So if you are paid monthly do it monthly - don't do it weekly unless you have budgeted, or your account can take the hit. If you are paid fortnightly, or a week in arrears, make the savings every two weeks, and if paid weekly do it weekly.

How much to save?

Maybe 10% of your regular income but generally just save what you afford, don't set yourself up for failure.

My lesson & takeaway

Don't jump on blog challenges without thinking it through. Unless you are really up for a tedious and messy chanllenge and can afford it, I'd suggest sit down with your finances, and see what exactly you can save, this may even consist of cutting out treats - looking at caffeine and nicotine fixes. Mine is really eating out, I rarely cook so if I cooked I could make a saving on that.

Finally 

I'll continue and see what happens.

Comments

Popular posts from this blog

Daily Writing Journal: Mo Money Challenge - week 8 which means £8 in the tin!

£8 in coins So I'm on my second week on saving and still not sure. I'm not feeling the pinch per se, but it's hard thinking how am I going to maintain this. So I managed to get a few coins out and gather some change, but at some point I'll really need to organise this. I've put in four fifty pence pieces with come up to two pounds sterling and the rest in pound coins.  Remember the money tin from last week. Well it all went inside that.... How am I feeling? Slightly bored but I still have a long way to go..... Saving money is boring, spending is more interesting.

My London Hood - The Tate Modern

Modern Gallery make you think of the world as it is today. I just wandered around the exhibitions in the Tate modern and  seemed focused on oppression of humanity - focusing on the poverty, wars, sexuality, violence, conflict, the underdog and gritty. This was a picture that captured my imagination because it looked so modern. This is a painting by German artist Christian Schad  called Agosta, the Pigeon-Chested Man, and Rasha, the Black Dove 1929 is a large portrait-orientated oil painting of two funfair performers.  https://www.tate.org.uk/art/artworks/schad-agosta-the-pigeon-chested-man-and-rasha-the-black-dove-l02264  So in typically America-speak when I saw my people, I had to stop and take a picture, therefore homegirl, Rasha, the black dove is headlining my blog. In those days, I guess the only work she could get was as side-freak show but she is very beautiful, modernly so. It also made me think of what happened to all the black people or people of colour during Nazi Germ

Review of January 2018 - lost weight, socialised with others, completed my beta-read, doing my courses.

Hello everyone, Just checking in about my goals and life in general. It's all good. What went well. I took in packed lunches for at least four days a week. This was just hummus, sprouts, grated carrot sandwich. So very vegan.  I also cooked dinner a few times a night rather than eating junk food or takeaway. So a lot healthier. I finally have a social life of sorts. In my last job - it was work, home and see family on weekends. I was so drained and tired so this new job has made such a difference, that I can go out and meet people.  So I go out with some drinking mates once a week. It's a nice evening out of the house and away from social media or the internet. It's mostly small talk but its nice. I'm doing my photoshop course. That is coming along nicely, that picture is from one of my practice sessions. I'm doing a couple of writing courses which are intense. What hasn't gone well. I need to focus on having more routines, and breaking tasks