LittleMissDetermined Posts: 8,003 Forumite
3 January 2023 at 11:09AM edited 3 January 2023 at 12:12PM in Debt-free wannabe challenges
This challenge has been mentioned by a few MSE forumites and it's something I really want to complete in 2023 so I thought I would set up the challenge to see if anyone else would like to join in.
What you will need:
- 52 envelopes (the small cash envelopes are ideal)
- A safe place to keep cash such as a safe, lock box for example
- Cash
How it works:
Take 52 envelopes and label them from week 1 to week 52. Throughout 2023 we will be adding money in £'s equivalent to the numbers on the envelopes. At the end of the year we will have saved £1378 to use for whatever you like.
Each week, add a post with which envelope you've filled and I will update the tracker spreadsheet. It is helpful if you can add it with your number inbold to make it easy for me to keep a track
Filling order is optional!
- Consecutively (forwards or backwards) 1-52 or 52-1
- Randomly by picking an envelope each week and placing that amount inside
- Alternately selecting 1, 52, 2, 51, 3, 50, 4 etc which evens it out across the year
- Equally by placing £26.50 in each and every envelope
For anyone wishing to join in, please add a comment to be allocated a number and let me know which filling order you will be doing It would also be great to hear what you will be planning on spending your hard saved cash on at the end of the year!
Life gets in the way...PADding is addictive...Saving's better than spending...
My savings diary - Now for a healthier, wealthier me
2024 1p challenge #11 | Cash envelope challenge #01 | SPC #017
Sealed pot 2024 £2363.03 | EF £1000/£1000 | Sabbatical £900/£3000 | Holiday spends £430 | General Saver £2562.77
2
LittleMissDetermined Posts: 8,003 Forumite
3 January 2023 at 11:19AM edited 1 June 2023 at 6:24AM
Cash envelope stuffer roll call
#01 LittleMissDetermined
#02 Keedie
#03 BlueJ94
#04 lellybun
#05 bigbeff
#06 Choccygirl123
#07 SkyChild
#08 ~flowerpot~#09 IndiJonesi
Life gets in the way...PADding is addictive...Saving's better than spending...
My savings diary - Now for a healthier, wealthier me
2024 1p challenge #11 | Cash envelope challenge #01 | SPC #017
Sealed pot 2024 £2363.03 | EF £1000/£1000 | Sabbatical £900/£3000 | Holiday spends £430 | General Saver £2562.77
3 January 2023 at 11:21AM
Spreadsheet of amounts paid
https://docs.google.com/spreadsheets/d/14SiMlrMnnyPKrtyXtGboOqiAPImImBofC_tLt12v2tM/edit?usp=sharing
Life gets in the way...PADding is addictive...Saving's better than spending...
My savings diary - Now for a healthier, wealthier me
2024 1p challenge #11 | Cash envelope challenge #01 | SPC #017
Sealed pot 2024 £2363.03 | EF £1000/£1000 | Sabbatical £900/£3000 | Holiday spends £430 | General Saver £2562.77
Keedie Posts: 2,216 Forumite
3 January 2023 at 12:21PM
Thank you for creating this @LittleMissDetermined. Can I join please? x
Debt Free Diary:- The Mental Debt Struggle
Debt Tracking Restart Take 3 from 01/05/2023 = £23,643.30 (8 creditors) So, on 02/04/2024 = £15,543.30/£23,643.30 (1 creditor) = 65.74% repaid Aiming to be Debt Free = 31/12/2025
CREDITORS: Barclaycard (£6,066.23/£14,166.23) 42.82% repaid
(Original Debt on 15/07/2016 was £33,056.76) 🙈
2024 SAVINGS: Emergency Fund (£220.99/£1,000) 22.10% saved || #5 50 Envelope Challenge 6/50
2024 CHALLENGES: #30 Debt Free by Xmas 2024 (£2,030/£6,750) 30.07% repaid1
LittleMissDetermined Posts: 8,003 Forumite
3 January 2023 at 1:07PM
Keedie said:
Thank you for creating this @LittleMissDetermined. Can I join please? x
Of course, you are number 02
Life gets in the way...PADding is addictive...Saving's better than spending...
My savings diary - Now for a healthier, wealthier me
2024 1p challenge #11 | Cash envelope challenge #01 | SPC #017
Sealed pot 2024 £2363.03 | EF £1000/£1000 | Sabbatical £900/£3000 | Holiday spends £430 | General Saver £2562.77
BlueJ94 Posts: 2,551 Ambassador
3 January 2023 at 1:23PM
Sign me up! I’ll grab some envelopes on my way home tonight!
I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe boards and spending & discounts boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
Debt owed;JD Catalogue - £580/£700, ZopaCC £100/£200, Zable £294.65/£350 = Total Debt £974.65
The 365 Day 1p Challenge 2024 #27 £0/£671.61Time to start a fresh. — MoneySavingExpert Forum
Time to start a Fresh part 2, 2022! — MoneySavingExpert Forum
New fresh diary for 2023! — MoneySavingExpert Forum
https://forums.moneysavingexpert.com/discussion/6494873/fresh-diary-for-2024#latest2
LittleMissDetermined Posts: 8,003 Forumite
3 January 2023 at 1:34PM
BlueJ94 said:
Sign me up! I’ll grab some envelopes on my way home tonight!
Welcome! You're number 03
Life gets in the way...PADding is addictive...Saving's better than spending...
My savings diary - Now for a healthier, wealthier me
2024 1p challenge #11 | Cash envelope challenge #01 | SPC #017
Sealed pot 2024 £2363.03 | EF £1000/£1000 | Sabbatical £900/£3000 | Holiday spends £430 | General Saver £2562.77
1
lellybun Posts: 410 Forumite
3 January 2023 at 4:16PM
Hi! Happy New Year and thanks for starting this challenge LMD, please could I join?
2023 Weekly Cash Envelope Savings Challenge #04
2024 Weekly Cash Envelope Savings Challenge #03
1
LittleMissDetermined Posts: 8,003 Forumite
3 January 2023 at 4:22PM
lellybun said:
Hi! Happy New Year and thanks for starting this challenge LMD, please could I join?
Absolutely! Welcome @lellybun You're number 4
Life gets in the way...PADding is addictive...Saving's better than spending...
My savings diary - Now for a healthier, wealthier me
2024 1p challenge #11 | Cash envelope challenge #01 | SPC #017
Sealed pot 2024 £2363.03 | EF £1000/£1000 | Sabbatical £900/£3000 | Holiday spends £430 | General Saver £2562.77
stitching_witch Posts: 1,257 Forumite
3 January 2023 at 5:53PM
I’m currently doing the 1p savings challenge and just signed up for a £50/month regular savings account so I think that’s my limit this year. I will certainly join in if you do it again next year.
Good luck to everyone!
Making magic with fabric
Light travels faster than sound. This is why some people appear bright until you hear them speak.
2
bigbeff Posts: 1,119 Forumite
3 January 2023 at 5:59PM
Hi, I'll join please - not physical envelopes, just a new saver
Debt busting 2022 Total £15842.68 £0 (100% paid since 1/1/22)
- DFD: September 1st 2023[/b]
Savings diary: https://forums.moneysavingexpert.com/discussion/6472040/time-to-build-my-future#latest
3
- DFD: September 1st 2023[/b]
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