Take the Savings Quiz!

Are you spending too much and saving too little?

by Paul J. Zak

 

Are you spending too much and saving too little? 

Please answer True or False to the following questions to find out.

1. You have clothes that you purchased more than three months ago that you have not yet worn.
2. You typically carry a balance from month to month on a credit card.
3. You do not know within 20% the value of your savings account.
4. In the last year, you have purchased an expensive item that several weeks later you regretted  buying.
5. You have not used coupons in the last month.
6. You have more shoes than toes.
7. Shopping is a typical activity that you do with your friends.
8. You have never spoken to an investment advisor about your retirement plans.
9. Shopping makes you happy.
10. You do not typically use the Internet to find the best prices when you shop.

Scoring: Zero for False, one for True. If you scored from 0-5, it is likely that you are doing well saving. If you scored more than 5, you are probably spending too much. If you scored 8 or more, it's time to make some changes!

52 Week Financial Challenge

A fun way to save 

July 2012 - 2013

Here's how it works...

There are two options!

Option #1

Week 1 - Put away $1 (in a savings account or somewhere safe in your home)
Week 2 - Put away $2
Week 3 - Put away $3

Etc.



Option #2

Add the week number to itself and that is the amount you will put away.
Week 1 - 1+1=2 - Put away $2 (in a savings account or somewhere safe in your home)
Week 2 - 2+2=4 - Put away $4
Week 3 - 3+3=6 - Put away $6

Etc.

GOAL: Save consistently for 52 weeks.

MISSION: Save $1378 or $ 2755 in 52 weeks. At the end of the challenge you will have more money and more importantly, a new habit, SAVING!

VISION: Encourage others to save and create a long lasting saving habit

WHY: To start your journey to FINANCIAL FREEDOM

WHEN: July 2012 - 2013

Finish stronger than you start!

For those of you who are already saving, Woo-Hoo! Wonderful!!! You’re already on your way. You can join the 52 Financial week challenge just to add to your savings and because it will be fun!

For those of you, who aren't saving at this time, start now!  This will be a fun way of saving and at the end of the challenge you will have more in your savings than you have today.


Tip: At the end of the challenge, open a money market account with your savings.

There will be a surprise gift for those who complete the challenge.

Gift #1 will be for those who complete the challenge
Gift #2 will be for those who complete the challenge and open a money market account with their savings.