Monday, January 24, 2011

$10,000 challenge

Last night my husband and I were talking about our house here, where we want to live (aiming for moving in 12 months), what needs to be done to the house to sell and what we think of quotes we’ve received for different things.

We worked out we need about $10,000 - $15,000 to do stuff to the house, buy some furniture we want and a few other things. So we have set ourselves a goal to make $10,000 in the next 6 weeks. It will be slow the first 2 weeks as we don’t have a lot of time to do much, but we think we can do it.

It won’t just be about making money it will also be about saving as much as possible. We discussed what the things we could do which we think would have the most effect such as selling what we don’t need, overtime at work, planning our meals and grocery shop really well etc...

Each Monday I will update you with what I have done and our tally. It will be slow at first, but I am sure if we really try we can do it.

This week we will be...

1.) Searching the whole house and car for any money, such as coins that may have slipped out of pockets and depositing it.

2.) Finish sorting our stuff to sell it.

3.) Sort out our banking. I’ve seen much higher interest on savings accounts than what we currently get. We’ve stuck with our bank because we didn’t know when we’d need it and there is a 2 day delay if we have it with another bank. Now we know what we are doing I can transfer the bulk of it to another bank for better interest.

4.) Look into doing a market stall with my mother in law.

5.) Go through all our food to create a menu plan for us and plan our shopping accordingly. (I’ve gotten slack at this lately)

6.) Stop hiring DVD’s. Whilst it only costs $1 for a weekly at my local store, we’ve been spending $5 - $10 there a week, which is completely unnecessary. We have not seen any movie we really liked and have wasted hours of our time.

7.) Do not go to the shops unless absolutely necessary.

8.) Reassess all our finances.

So I have got a few things we can do, which will help us get started and hopefully change some of our habits.

During this time we will also be on the lookout for things on our list which are on sale. We have worked out exactly what we want, how much we expect to pay and if we find something for a good price, we’ll get it, so we aren’t on a total spending ban, but if it’s not on the list it doesn’t get bought.

Anyone interested in doing something similar?

1 comment :

  1. good stuff :) my husband and i just had a very similar conversation... love it. i'm a new follower from the well-to-do blog based in maine. we'd love to have you stop by and follow if you like it.

    thanks, and cheers - ss


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