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What do I do with the challenge money??

August 25th, 2008 at 01:24 pm

Yesterday, Gamecock asked me what I did with my challenge money tha I saved on the $20 challenge.
No, I do not have a separate account for just the challenge money, but it might be a good idea to see how much interest it earns.
Instead, I add it (challenge money) about once or twice a month to my regular local savings account that is payig 3.1% interest.
I keep track of how much I save on paper and put the actual cash and checks in a cash box each day. Then, every few weeks, I deposit it so it can earn interest.
This past week, I had 5 stay at home and use no gas days. It cost me about $2 to go to town and back, so that is $10 in gas money that I have saved. I will add that to my challenge money.
Prev. total $19,881.00
today 10.00
new total $19,891.00

Posted in $20 Challenge | 2 Comments »

2 Responses to “What do I do with the challenge money??”

  1. Aleta Says:
    August 25th, 2008 at 04:09 pm 1219680586
    1219680586

    We contribute to an IRA with regular income. I had the same quetion about what to do with the challenge money. I decided to separate it from other accounts. I wanted to see how much my surveys, coupons, rebates, pennies, found money, etc would add up and decided to use it for my own retirement account which is still for my husband and I. I just want to see what doing the little things every day add up to. I keep this money in a high interest earning account and it becomes some of the cash portion of the retirement portfolio.

    My husband has become quite impressed.

  2. disneysteve Says:
    August 25th, 2008 at 04:25 pm 1219681517
    1219681517

    That's enough for a down payment on another Vette.

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