This is my conclusion to a challenge I set in March is Money Month – to save £1000/$1000 in the next 30 days. This is the end of my month of targeted actions to see how much I could save.
If you’ve not been following the challenge but the post has inspired you, go to the article and set your own 30 day challenge – this post could seriously improve your wealth.
My wife is due to go on maternity leave at the end of May and I wanted to ensure that we could cut back on expenses whilst she’s off work, so when her salary reduces, we can manage on the reduced income.
So this is where I’m at after 1 month and it follows the update I gave at week 3: the £1000/$1000 in 30 days challenge
Here we go: (all savings are annualised):
- TV – I’ve downgraded my TV package and taken off the movie package which we weren’t making enough use of. Saving £16per month £192 for the year. Total saved £192
- Sort through old papers – routing through some old paper work that had been stored at my parents, I discovered a bank book which I’d forgotten about. This had £335 in it. Total saved £527
- Swapped my car – with a new baby on the way we need more space and have swapped our sports car for an cheaper estate saving £2832 a year – total saved £3,359
- Ebay – we’ve cleared the garage and sorted through our CD’s/DVD’s, some old clothes and some things we just don’t use anymore – bringing £80 – total saved £3,439
- Ebay – we’ve added some more items to Ebay and sold those now (mainly clothes and handbags) raising another £160 – total saved £3,599
- Cleaner – We’ve stopped our cleaner saving £1200, total saved £4,799
Now, when I started this, I didn’t think that we’d save anything like this, so this is an amazing result. In fact we’ve still got a few items on Ebay with another week to go, so out of fairness I’ve not included these items. So with a little work we’ve saved nearly £5,000 (c$7,500) in 30 days.
So, what do you think?
How did you do towards the Save £1000/$1000 in 30 days challenge?