Updated: Nov 26, 2021
I've created this challenge as a way for people to have more fun with their money. It’s a fun way to create stronger savings habits as we reset our mindset and take responsibility for our money management. Having been through a major transition period in life and successfully reestablishing myself on both sides of the coin (Mindset & Money Management), I know how hard it is to just get started, especially when you feel all alone. So, I’m here to show you how I’ve done it and am continuing to grow.
I’m also here to support those who would like to share accountability for keeping a positive attitude, maintaining productivity and continuing to make good progress. This challenge was created with the intent of improving our relationship with money not just for a short time but for eternity.
Starting on the day you choose (usually Sunday or Monday) you will save $1 for each day and add on $1 for each consecutive day. Sure, you could save just a $1 per day and that would be great. However, the goal here is also to reset our mindset regarding how money works. So, the additional dollar for each consecutive day teaches us to appreciate the principle of compound. As we take a moment each day to focus on our financial activity we will be training ourselves to have a better perspective with regards to the level of respect we have for our money and subsequently the relationship we have with money going forward.
You may choose the interval (number of days) you prefer and the mode of savings (dollars, quarters, dimes, etc.).
I have identified 3 intervals to keep this as simple as possible, including: Modest – 7 Day Interval, Meditated – 14 Day Interval, or Motivated – 28 Day Interval.
Each day of savings should follow these guidelines: Day 1 = 1 dollar/ 1 quarter/ 1 dime, Day 2 = 2 dollars / 2 quarters / 2 dimes, Day 3 = 3 dollars / 3 quarters / 3 dimes….etc.
Once you’ve established your personal challenge guidelines the next step is to track your savings. You can do this! And you’re not alone. I’m here going through the process and doing the work with you. Regardless of your social status or income level. This challenge is not so much about how much money you save as it is about the good habit of saving that you create and maintain. Then it becomes about what you will do with this money that you’ve managed to save so well.
Your final determination includes deciding how much money you will save, what you will do with it once you’ve reached your goal and where you put the money for protection and prosperity during the process. That’s where my expertise comes to serve you completely. Understanding how money works and then understanding how to make it work for you are only the initial steps toward improving your financial education. Proving your financial literacy means demonstrating that you are able and willing to apply the principles you’ve learned and see the benefits of practicing them on a daily basis.
Kevette Minor Kane, CFEI, CEIP
Financial Liberation Expert
MarimorLife LLC, Mindset & Money Management
Follow @marimorlife for tips and strategies
Connect with @iamkevette for motivation to transform your mind and your money.