Looking Forward: Saving Money

As 2014 wraps up, I thought I’d look back on my original Dirty Dozen 2012 New Years Resolutions, specifically #8 “Save Money.” In 2012 I lived alone and had a corporate job that included a vehicle. The perks were wonderful, but the drive time definitely got to me.

Snow in AprilIn 2013 I moved home and my expenses were much smaller, health care was the biggest change. Paying for my own insurance definitely isn’t exciting, but its a reality. Saving money didn’t come as easily. When I found the 52 Week Money Challenge through Outside My Head, I knew I had to give it a try!

52 Week Money Challenge_ChartInstead of making 52 separate transfers from my checking to my savings, I made a monthly transfer. January’s savings were so easy it felt silly. I think I even rounded up, just to give myself a bump. Some month’s I had to juggle a little and make sure to do the transfer after payday. But I made it happen. This year’s savings covered the expense of my road bike!

Save Money to Buy Trek BikeGoing into 2015 I plan on making monthly transfers again, but this time doubling the amount. I’m not sure I’ll be able to swing it at the end of the year, but in the first few months I want the extra challenge/savings.

How to Save Money in 2015If I was feeling really ambitious, I could follow this schedule, and secure $3000.00 for myself going into 2016, but I’m not sure if it will happen.

Save Lots of Money in 2015Do you have a savings strategy? Or are you learning as you go?


17 thoughts on “Looking Forward: Saving Money

  1. I do have a strategy, althought it can always be better! In September I moved in with a roommate for the first time in three years…. we both wanted to up our travel budgets šŸ™‚

  2. I’ve never seen this before! Thanks for sharing! And I love that you used the savings for the road bike. I might have to do the same as I have my eye on one for my next duathlon and triathlon:)

    • You are welcome! I cannot say enough go things about starting with the $1 + per week. It was a great starting point.

  3. Way to go! We put some aside each month and make sure we don’t carry any balance on credit cards. Unfortunately my husband’s pay check is different each week so with four kids it is tough to have a set amount to save. My ultimate goal is to use cash and the envelope system for everything. I’d love to do that in the new year, so we’ll see.

    • I have a friend who had a lot of success with the envelope system! I haven’t had the patience to enact that, but I bet I’ll try it in the future!

  4. Awesome! I wanted to do that last year, but I have a ton of excuses why I didn’t. I think the hardest part for me would be the large savings in December – since that’s my most expensive month with holidays and travel. I’m going to try and switch these so that January is my most expensive month and December is the least. I already have a few transfers set up for Friday and Monday of each week (essentially I count my Friday transfer as money already spent for the weekend and the Monday transfer is kind of a bonus) and it has certainly helped with some unexpected items. And since I’m getting married this coming year, the extra money will come in handy for sure!

    • I feel you on December! The expense was a big reason why I did my transfers at the beginning of the month, for the entire month. It kept me from backing out each week. Weekend spending is my downfall: dinners, drinks, coffee, it really adds up!

      Someday I might be sending you an email about buying a house as a single lady (although I am so happy that you are getting married!).

  5. This is great, I was going to do it this year but didn’t. I will be next year. One thing I saw is that the end of the year can be hard to put the most aside for various reasons so some people actually reverse the order. They save the December amount in Jan, the Nov. amount in Feb, etc. I was thinking of doing that to (attempt to) avoid the end of the year crunch.

    • Good point!! I’m not sure where I’ll be this time next year, and you’re the second person to suggest that, so I might have to try it out!

  6. I transfer the difference between my salary a few years ago and now to my savings every time I get paid. It’s auto, and I just adjust it with my raises. Sometimes I have to transfer it back to pay bills, but I think it overall helps us save. I keep trying to make my husband and I a budget, but I am awful at checking back on it. I really want to save more money though!

    • Saving the difference of your salary increase is genius!! When I get in a more corporate setting I’ll have to remember that!

  7. I am loving all these tips! Glad to know I’m not alone when it comes to saving and admitting that it can be difficult!

  8. Pingback: December 2014 Recap | katielookingforward

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