Hello, friends! Today in this article our exciting 100-day Christmas savings challenge. We are now in the fifth week of our journey to saving for Christmas. In this blog post, I’ll walk you through our progress so far, the simple method we’re using, and how you can still join in to save a little extra for Christmas without relying on your credit card. Let’s get started!
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Week 5 Update: Small Steps Toward Big Savings
This week marks the 35th day of our 100-day challenge. Can you believe we’re already halfway there? With 65 days left before Christmas, it’s still not too late to join us. The idea behind this challenge is to help you save gradually, without feeling the burden. Even if you start today, there’s plenty of time to accumulate a good amount before the festive season arrives. Whether it’s for gifts, holiday treats, or your New Year’s goals, this challenge can help you avoid dipping into your credit card for holiday expenses.
How the Challenge Works
The concept of the challenge is simple: each day, we save an amount corresponding to the date. For example, on Day 35, we save an amount that adds up to the digits of the day (3 + 5 = 8). The highest amount you’ll need to save in one day is $18. If you want to push yourself, you can even multiply your daily amount, but the beauty of this challenge is that anyone can join, regardless of their financial situation. The daily amounts are small, and even if you’re on a tight budget, the savings add up quickly!
Our Progress So Far
Let’s break down how much we’ve saved in each week so far:
Week 1 (Days 1-7):
For the first week, we added up the numbers from Day 1 through Day 7, saving $28 in total. If you had multiplied your amounts, you’d have $56. And if you halved them, you’d have $14.
Week 2 (Days 8-14):
In the second week, we followed the same pattern. We saved $41, with the highest amount being saved on Day 14. If you multiplied, you’d have $82. If you divided, you’d have $20.50.
Week 3 (Days 15-21):
Week 3 brought us to $45 in savings. If you multiplied your amounts, you’d have $90. Dividing by two would give you $22.50.
Week 4 (Days 22-28):
By the end of Week 4, our total savings amounted to $49. Doubling this would result in $98, and halving it would leave you with $24.50.
Week 5 (Days 29-35):
This week, we saved $44, with the highest amount saved on Day 35. Multiply that for $88 or halve it for $22.
Total Savings After 5 Weeks:
After five weeks, our total savings have reached $207. If you’ve been doubling your savings, you should have $414 by now. For those who have been dividing the amounts, your total would be $103.
How to Stay Motivated
Locus of control Rules : Power of Psychological & How It Impacts Motivation and Success
In 1988, a fascinating study was conducted at Columbia University by Professor Claudia M. Mueller, revealing key insights into motivation, performance, and the concept of psychological locus of control. Through a simple experiment involving 5th-grade students solving puzzles, the study highlighted how different types of feedback can lead to drastically different results in behavior and motivation. Let’s explore the details and implications of this groundbreaking research and how it applies to our everyday lives.
The Study Setup: Effort vs. Intelligence
In the experiment, a group of 5th graders was given a series of difficult puzzles to solve. Regardless of their actual performance, they were told they had done exceptionally well, scoring higher than their peers. Then, the students were divided into two groups:
Group 1: These students were told that their success was due to their hard work.
Group 2: These students were told that their success was because they were smart and talented.
Many people often ask how to stay consistent with savings challenges like this one. My biggest tip is to keep it fun and light. I personally like to use cute stationary and colorful pens to track my progress. Every little bit of motivation helps, and it’s rewarding to see how far you’ve come when you check off another day on your tracker.
If you’re interested in getting your own savings tracker, I have some available in my shop. They’re designed to help you stay organized and excited about saving. And the best part? You can also use your own envelopes or an envelope savings challenge kit if you have one.
It’s Not Too Late to Join the Challenge
Remember, even if you haven’t started saving yet, it’s never too late! There are still 65 days left until Christmas, and you can easily catch up or adjust the amounts to fit your budget.
For example, if you’re just starting today, you could save the amounts from Days 1 to 35 in smaller increments or double up a few days to catch up. The most important thing is to make the challenge work for you and not to feel stressed about it.
Wrapping It Up: Let’s Finish Strong Together!
This savings challenge is all about making steady progress, and I’m so excited to continue this journey with all of you. Together, we can save enough to make this Christmas special without worrying about finances.
At the end of the challenge, we’ll tally up our final totals and see just how much we’ve saved for the holidays. Whether you’re putting money aside for gifts, holiday travel, or just treating yourself, this challenge can help you avoid unnecessary debt and start the new year on the right financial foot.
I hope this post motivates you to keep saving, whether you’ve been with us from the start or are just now thinking about joining. There’s still plenty of time left to make a difference in your holiday budget.
see also: Best credit cards 2024 for rewards, travel, or low interest
