Hey all! Here’s an easy way to save a little money this month – the bowl-grab money challenge.
Here’s how it works:
Grab 30 slips of paper and write either $1, $5 or $10 on each. (If you do it equally, that’ll be 10 slips for each number.)
Place the slips in a bowl.
Each day, pull out a slip from the bowl.
Save the amount on the slip.
If you do this for all 30 days, you’ll have an extra $160 at the end of the challenge. Of course, you can change the dollar amount you write on the slips to save more or less.
I like this challenge for setting aside some extra money each month for investing and fun money (e.g. $100 goes towards investing and $60 is for fun). Then I can focus the rest of my efforts on everyday expenses and paying down debt.