EASY WAY TO SAVE MONEY! SAVINGS CHALLENGES

Summary

In this video, the creator tackles various savings challenges, strategically allocating $150 from the previous week's budget and an additional $200 from selling crickets on Facebook Marketplace. They engage in the Rich's Duck Challenge, the 1500 Challenge, and the Builder Bag Savings Challenge, among others, adding amounts to different savings goals. The creator also discusses saving for a college-bound friend, emphasizing the importance of setting personal financial goals and not comparing oneself to others.

Takeaways

• 💰 The video is about adding money to various savings challenges, with a focus on budgeting and financial planning.
• 📈 The individual has set aside $150 from a previous budget and an additional $200 from selling items, totaling $350 to allocate to the challenges.
• 🦆 The 'Rich's Duck Challenge' is one of the savings challenges being addressed, where the person decides to add $55 to it.
• 📊 The '1500 Challenge' is another savings challenge mentioned, where a $100 bill is added to it, emphasizing the importance of saving extra money when possible.
• 📚 The 'Baddies Book Club Challenge' is a unique savings challenge where the person saves money based on the number of books read, with $70 added this week.
• 🎨 The video includes a visual tracker for each savings challenge, showing the progress made and the amounts saved.
• 🐶 An emergency fund for a pet's medical needs is being built up, highlighting the importance of planning for unexpected expenses.
• 🎁 The person is preparing a 'postgrad binder' as a gift for a family friend going to college, including gift cards and money for various occasions.
• 🚗 A specific section of the binder is dedicated to a 'visit home fund', aiming to save $1,000 to help with travel expenses for the friend.
• 🌟 Personal notes of encouragement are included in the binder to provide support and motivation for the friend during her college journey.
• 🚫 The video emphasizes the importance of not comparing oneself to others when it comes to financial goals and savings challenges, advocating for individualized approaches.

Q & A

What is the purpose of the video?

The purpose of the video is to demonstrate how to allocate extra money towards various savings challenges, providing a visual guide on how to save money effectively.

How much money was initially set aside for savings challenges from the previous week's budget?

$150 was initially set aside from the previous week's budget for savings challenges.

What additional amount was added from selling old crickets on Facebook Marketplace?

An additional $200 was added from selling two old crickets on Facebook Marketplace.

What is the Rich's Duck Challenge and how is it used in the video?

The Rich's Duck Challenge is a savings challenge where the participant saves specific amounts of money at their own pace. In the video, the participant adds $5 and $10 to this challenge.

What is the 1500 Challenge and how much was added to it in the video?

The 1500 Challenge is another savings challenge aimed at accumulating a total of $1,500. The participant added a $100 bill to this challenge in the video.

What is the Baddies Book Club Challenge and how does it work?

The Baddies Book Club Challenge is a savings challenge where the participant saves an amount of money for each book they read. The participant added $70 to this challenge based on completing five books.

What is the purpose of the emergency fund mentioned in the video?

The emergency fund is being built up for the participant's pet, a Frenchie named Pinky, who has health issues and may require long-term medication or surgery. The fund is intended to cover these potential medical expenses.

How much money was added to the emergency fund for Pinky in the video?

A total of $40 was added to Pinky's emergency fund in the video.

What is the Build Bag Savings Challenge and how is it used in the video?

The Build Bag Savings Challenge is a collection of various savings challenges. In the video, the participant adds tens to the $10 savings challenge within the Build Bag.

What is the purpose of the postgrad binder mentioned in the script?

The postgrad binder is a gift being prepared for a family friend who is going to college. It contains various sections for gift cards and money for different occasions, such as a night out fund and a visit home fund.

How much money was added to the visit home fund in the postgrad binder in the video?

A total of $65 was added to the visit home fund in the postgrad binder in the video.