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$20 challenge questions

January 2nd, 2008 at 04:01 am

Just what is it? I read the 'what is this?' link but it didn't tell me a lot. Do most of you start with $20 and add to it? Or is the goal to get to $20 then put that in savings or what?

Now that I'm working and DH's business is paying most of the bills (giving us a little bit of breathing room financially), I'd like to join but ummmm.. I need to know what it is.

Thanks!

Posted in $20 Challenge | 7 Comments »

7 Responses to “$20 challenge questions”

  1. george Says:
    January 2nd, 2008 at 04:22 am 1199247736
    1199247736

    I'd like to know too! It's 2008, and I want to play. =(

  2. threebeansalad Says:
    January 2nd, 2008 at 05:01 am 1199250071
    1199250071

    The idea is to give yourself $20 as start up money and see how you can make it grow into new income streams and or new ways to save money. For example, you might start selling on eBay and you could use that initial $20 to help cover the cost of packaging supplies. Or, you might use the $20 to install new filters in your furnace and track how your heating bills are lowered with the new filters. I participated in the $20 Challenge in 2007, most of my money came from babysitting-- something I hadn't done for money in 10 years. Babysitting has worked out great for me and I plan to stick with it. I don't know If I'm going to do the Challenge this year as I feel like I've exhausted all my ideas and I'd rather just stick with what's working for me know. It's a great way to get our creative juices flowing, though!

  3. denisentexas Says:
    January 2nd, 2008 at 01:05 pm 1199279158
    1199279158

    Ahhh, I see! Well, I've sold on ebay for years and the last two it hasn't been successful so I'm not sure about doing that. I also do some surveys and other things for money but have just put that money in the bank. I'll ponder this awhile and see what I can come up with. Thanks!

  4. ktmarvels Says:
    January 2nd, 2008 at 01:12 pm 1199279539
    1199279539

    I use the $20 challege as a way to track either money that I've saved (through coupons or store cards) and money that I've made (through surveys and rebates). Other people reward themselves for doing certain things and add money to their challenge.

    Each person does it a little differently, and that's ok since the goal is to just save money!

  5. Ima saver Says:
    January 2nd, 2008 at 03:16 pm 1199286976
    1199286976

    I save all my change, add unexpected checks, do surveys, pay myself for exercising, clip coupons, use store cards, just anything you can think of to save extra money. You make your own rules!

  6. denisentexas Says:
    January 2nd, 2008 at 04:30 pm 1199291412
    1199291412

    Thanks for the answers, y'all! I'll consider this and come up with a plan. Smile

  7. koppur Says:
    January 2nd, 2008 at 09:38 pm 1199309908
    1199309908

    I started mine with selling on half.com and ebay. Now I also put in money I find, refund checks, survey checks, etc. It's a way of keeping me in the savings mode so it doesn't just all become cash to spend on junk frivolous stuff.

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