Tuesday Challenge 12/26/23

@porwest When I made our Disney hotel reservations back in January, I thought we would only be going for 6 days, so I reserved a suite for our party (6 people) at a cost of $700 per night. We ended up adding on a 7th day, but by that time the suites were all booked, so I got us a regular room for $200 for the night. Well, when we checked in, they ended up putting us in the suite right away, but I still only paid $200 for the extra night, instead of $700. I consider that a huge win financially speaking.

That's a good idea. I always say, keep the principal and spend the proceeds. Granted, it doesn't always work exactly that way in reality. But if the mindset is there, it changes the way we think about what we spend and how we spend it.

@moffittjc I would have never made it past the price check. lol

@porwest We don't have anyone to leave the $ to except for charities; so I'm all for spending more; but it's hard.

@LindaOHio Would you like my information to give to your lawyer for the will? I promise I will make good use of whatever is left.

Have fun with your money. You are at that "stage," so to speak. I used to tell my mom when I started managing her money many, many years ago, "The rewards are many, though not today." In other words, there is a time to save and there is a time to enjoy what you've saved. Now that my mom is in full retirement, I tell her it's okay to spend more. Granted, you don't want to go nuts. But the older you get the less time you are making sure you have the money to pay for, so...you can relax a bit and just enjoy the money. My mom sees a guy who is in his 90s. She complains he spends too much. I usually tell her, "Mom, he's 90. He has no reason to think about savings at this point." lol

@porwest Yeah, I completely agree.

So long as you are saving something, that's what matters.

If nothing else, it's a lot of fun with a little added bonus that you will have some extra money.

If nothing else, even though I advocate saving it and making it worth something, even if it just serves as a little fun fund or Christmas fund, it is still helpful. Any savings is worth it regardless of what you ultimately decide to do with what you save.

@porwest My issue is that my checks are direct deposited. I never have cash. Yes I could transfer from checking to savings but I think Chase will close my savings account if I make 3 withdrawals in one month. I am still hustling with the virtual tutoring though. $44.23/hour. I'm hoping to get some class coverages in the new year. $42.71/40 minutes.

@NJChicaa I think there is actually a law that can only limit to 6 withdrawals, but I could be wrong. That being said, most banks allow 6, and if I had one that only allowed 3, I'd switch. After all, it's my money and I should have more say and control over what happens to it than my bank does. But that's just my two cents. That being said, the cash and the envelope is just an easy way of explaining or encouraging the act of carrying out the challenge. But one can just as easily transfer the amounts from their checking to their savings and let it accumulate there. The idea is not so much about the challenge, but rather about forming the habit of saving, and generating some encouragement to do it, think about it, and make it fun. Once one starts to save it becomes a bit like a second nature, and before you know it, people are finding ways to save even more. I started my challenge in October, for example. Once I reach one year I will up the ante and add between $3-$5 to every Tuesday to save even more.