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Home > Lots More Money for $20 Challenge and 1st Student Loan Paid Off

Lots More Money for $20 Challenge and 1st Student Loan Paid Off

February 10th, 2007 at 01:49 pm

Well, the $20 Challenge has really worked well to motivate me towards saving a lot more money. I planned on using rebates that I got from Riteaid, Walgreens and so forth towards the grocery bill. However, since my grocery bill is below $250.. and probably down to $225 this month even buying the extra things that are either free or money making after rebate, I'm putting any money into my $20 savings challenge.

So from January Riteaid is $17.97
Savings from State Tax Refund $24.53

(This is 10%, the extra is going towards either tuition payments, to prevent new debt or paying off existing student loans. I can't wait until the federal refund check. Yes, I know we shouldn't be getting "this much back," but as I already have more deductions that just the two of us... school expenses, contributions to IRAs, and mortgage interest are huge helps and nowadays the majority of our expenses)

So far in February I got one of my student loans paid off! I'm pretty amazed, that we are down to one income, maxing out the 401k, paying for most of the future tuition/books/etc out of that income and paying off student loans and the house. (There's no credit card and no car loans or other debt). On top of that, my emergency fund/saving challenge money is actually starting to build up. In a couple more months, I might be able to start contributing to our Roth IRA again.

3 Responses to “Lots More Money for $20 Challenge and 1st Student Loan Paid Off”

  1. JanH Says:

    Wow, you are doing great!

  2. Ima saver Says:

    You really are!!

  3. Amber Says:

    yep you are rockin' and rollin'

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