The 2024 Savings Challenge — $HMONEY (2024)

01.19.2024 - By: Anastasia Barbuzzi

Welcome to the 2024 Savings Challenge! At a time when economic stability and financial independence are more important than ever, this challenge empowers you to take control of your finances, prioritize yourself, and prove that saving is possible no matter your income or relationship to money.

With just a small daily commitment of $3, you'll be amazed at how much you can save by the end of the year ($1,000!). Let's dive into why you should join this challenge and the details that make it accessible and achievable for everyone.

Why You Should Join:

Financial stability and independence are crucial to your future and overall well-being. Whether you're just starting to build an emergency fund (I recommend starting there and prioritizing this if you don't have one!) or striving to achieve bigger financial goals, this challenge will set you on a positive path. By consistently saving, you'll have a safety net for unexpected expenses and peace of mind (and who doesn't want that?).

Also, I want to show that saving is achievable for anyone, so I've designed this challenge with a modest goal of $21.50 per week or $3 per day. These small, daily contributions may seem minor, but they add up over time (which is very encouraging to see in your bank account!). It's an excellent way to form a savings habit and create a strong financial foundation.

Challenge Details:

If you want to take advantage of the remaining 47 weeks of the year, all you have to do is commit to:

• A weekly contribution of $21.50

• A daily contribution of $3

Which adds up to $1,000 come December 31st, 2024!

You can deposit your savings into a sinking fund, a savings account, or any other financial instrument that aligns with your current financial goals weekly. (I only show the daily breakdown to illustrate how achievable this is, but if you must, chuck that $3 into a piggy bank daily so you don't touch it!)

As I mentioned before, it's a good idea to prioritize building an emergency fund during this time if you don't have one. Regardless, we're calling this fund your "For You Fund" (#FYF) because it's all about caring, providing for, and prioritizing yourself.

Throughout the challenge, I'll keep you motivated and engaged by posting daily, weekly, and monthly updates on social media and through my weekly newsletter. I hope you feel safe enough to share your progress and discuss any obstacles you encounter, which we'll explore more throughout the challenge.

If you think saving is hard or next to impossible based on your financial history and money behaviors, imagine having a network of like-minded, goal-oriented individuals to lean on!

I'm Unsure If I'm the Right Person to Join...

Of course, you are! This challenge is an excellent opportunity to break down your bigger financial goals into smaller, more manageable chunks. Whether you're financially comfortable or want to test your willpower, this challenge is adaptable to your unique circ*mstances.

Whether saving for a dream vacation, a down payment on a house, or a rainy day, this challenge is designed for you.

Make it a "For Fun Fund" if you want. Or, at the end of the year, take the money and invest it!

Ready to Start?

Don't let the idea of saving (or strategizing how you'll do it) overwhelm you. The 2024 Savings Challenge is here to simplify the process, offering a straightforward, no-nonsense approach to saving money.

With just $3 a day, you can make a significant difference in your financial well-being, but the journey has to start somewhere. Yours begins as soon as you download the template below (which will be updated monthly!) and join me on social– for essentials, for fun, for extra, for YOU!

P.S: Tap or click here to subscribe and receive a weekly #SundayScroll ☕, my thoughtfully curated newsletter!

Thoughts? Questions? Leave ‘em in the comments below 💚