Friday, February 24, 2017

FINANCIAL FRIDAY: $500 Challenge update




Happy Friday! I hope that you are having a wonderful week! I wanted to share a quick update on the $500 challenge I started in October of last year. This is my challenge of finding creative and fun ways to accumulate $500. I take each amount and distribute into a short term savings account.  I have listed below the breakdown of how I assigned each $500 that I saved. Reminder that I accumulated each $500 savings outside of my regular business income. For example, I received a $412 check this year for an item I overpaid for in 2016. That was extra money that I did not plan for or necessarily need so I put that towards my challenge. This is also a great way of showing how money will manifest when you are focused on doing the right things with it. This challenge has shown me that there are always additional ways to save money outside of your regular earnings if you are up for the challenge.  I really hope this encourages someone to get creative about the way you can save your extra money.

Stocks $1,000
Money Market account $3000


Total $4,000
**stocks are shares purchased in a company and you should carefully research before investing in any stocks
*** money market accounts... I have to maintain a high balance in this account compared to a regular savings. Therefore I earn a slightly higher amount of interest 


Thanks for reading and I pray you have a wonderful weekend filled with love and blessings!


Antonio Melani ruffle dress....similar (here)
Jimmy Choo ankle strap pumps...similar (here) luxe for( less)
Versace sunglasses sold (here)luxe for less

8 comments:

  1. Girl, you're slaying with that outfit! You have full of wisdom. I should hire you as my finance manager. Haha!!!!
    Thanks for the inspiration!
    Have a fabulous weekend darling! xx
    Much love, Len
    www.lenparent.com

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    1. Thanks my sweet friend! You know I'm here anytime you need advice:) Happy weekend!

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  2. Great post! So inspiring!

    X Merel
    https://andathousandwords.com/2017/02/14/the-true-hong-kong-experience-at-pentahotel/

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  3. You look so fab in your maroon dress. And way to go on your $500 challenge. This just goes to show us that it really is possible to save money each month if we put the effort in. Thanks for sharing.

    xo, jackie
    stylemydreams.com

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    Replies
    1. Thanks Jackie! I believe making your savings automatic each month is a great way to save but I wanted this challenge to show there are other ways to save outside your regular income. Have a blessed week!

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  4. You looks stunning in this dress. So elegant and chic. And congrats on your challenge. That is the right way to go, girl!
    X
    Miri

    http://currentlywearing.com

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