The Tuesday Challenge Has Finally Found a Purpose

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Okay, so I have told you about the Tuesday Challenge, and I have updated several times on its progress since I started this about two years ago. But what is it for? I have never really been able to say exactly what I intended with it or what I planned to do with it. Until now. Right now, the Tuesday Challenge envelope has $1,713 in it to date. It's just cash, sitting there, doing nothing. As I have said many times, I don't like dead money, and that's pretty much exactly what it is right now. It's sitting in cash, and earns nothing, and is therefore...dead. I have decided that this could be seed capital for our annual camping trips, and so, I needed to find a way to let it generate interest. Or, well...dividends. So, the plan is now to put the money into HYT, which is an ETF that pays roughly 10% on a monthly basis in dividends. When the fund reaches $2,500, I will take $500 off the top and put it into HYT. Rinse and repeat every time the fund reaches $2,500. The $500 will not cover our camping expenses, but it's in concept that it will at least contribute to it, and offset the costs, even if a single penny never actually makes its way to our pocket. $500 of HYT is 53 shares, and that means $4.23 a month or $16.96 a year. The way the Tuesday Challenge works it would be nothing to get close to $1000 a year into HYT since the challenge generally generates that much a year. So, it won't actually pay for our camping which costs us around $3,000-$4,000 a year. But it's the idea that it is making a contribution AND our money is still working instead of sitting dead. Have you done the Tuesday Challenge? How much is in your envelope? What are your plans for the money? ***Video is NOT monetized. It is a thorough explanation of what the Tuesday Challenge is and how to do it.***