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Project Money August 2017 Update

Project Money August Update

Picnic recipes, smart Target shopping, community sharing, baby savings. LOTS of great stuff for you in this month’s Project Money update.

Sit back, relax and see how our contestants are taking their financial learnings to new levels!

Karl & Heather

Continuing their habit of sharing helpful savings tips, Karl and Heather kicked off July with a great “Picnic Points” post, offering various cost-saving recipes they enjoyed with their family over the Fourth of July weekend. (We really want some Chicken Alfredo now.)

After they unfortunately experienced a fraudulent charge for a $175 au pair service in Texas, the pair quickly notified Summit, who helped them get a complete refund for the charge AND create a new card within five minutes. Karl and Heather credited their punctuality to improved habits around checking financial statements regularly. Otherwise, who knows when they would’ve caught the mistake. Nice.

The active parents of three closed the month on a positive note, detailing how they’re going to achieve three months of savings. What a month.

Keep up the great work, Karl and Heather!

Jenniffer

Jenniffer started July in a dynamic way, highlighting learnings from a recent “Roots and Wings” conference she attended, which discussed how attendees could achieve wealth. As they relate to money, financial “roots” are long-term investments like your home or investment accounts (think retirement, college savings, etc.). “Wings” meanwhile represent your primary sources of income: paycheck, savings and/or credit. Cool stuff.

Keeping the financial learning strong, Jenniffer next highlighted how she’s using Summit’s Money Minder to achieve her financial goals in a clear and measureable way.

Next, Jenniffer describes, in her Chatty McChatterson post, how she's developed a new passion around SHARING her FINANCIAL LEARNINGS! More so because she describes how she’s developed a new passion around SHARING her FINANCIAL LEARNINGS! In many ways, that’s the biggest goal of Project Money.

Well done, Jenniffer!

Moriah & Terrance

We all love Target. If you say you don’t, I mean, come on. For that reason, we especially enjoyed how Moriah and Terrance started July off with a financial advice post, specifically around Target! Talk about relevant.

Moriah’s details on smart Target shopping and the idea around making sustainable progress is pretty great. From pre-planning her shopping trips by using the Target and Cartwheel apps to find discounts and coupons with every purchase, she pretty much nailed it.

Babies are expensive, it’s true. That’s how Moriah and Terrance began their next July post. While it may sound like a daunting post, it’s actually quite positive. And insightful! Not only does the couple mention improving habits around the “Wants vs. Needs” battle, they also cover helpful savings tips for babies in general, including coupons and being brand neutral. So cool.

Elsewhere, after some travel plans were cancelled, Moriah learned a nice lesson that the cheapest route isn’t always the best route (#TravelInsurance).

Nice work, Moriah and Terrance! You two are nailing it.

Venus

Venus started off the month on the right foot, describing the challenge of spending priorities between personal accounts along with her business, Venus Inspires, and the non-profit track club she started, Madison Elite. In other words, the woman has a lot going on. To help keep things together, she’s starting to study all receipts at the end of each month to see where she can improve spending habits.

Later Venus explains how she has embraced the idea of “paying herself,” taking the advice of her Project Money coach to appropriately allocate money from a paycheck to cover some of her business costs, specifically around her business continuing education fund. Nice!

Venus has also found herself rooted in educating her family on what she’s learning from Project Money, using the lessons her own mother taught her about finances and saving to teach her daughter, Madison. Closing out the month, Venus discussed The Saving Game, which is helping her keep goals like buying a house and saving for family trips top of mind. First stop? Meeting with a mortgage lender to discuss how much she’ll actually need for a down payment.

Awesome month, Venus!

Well, there you have it. Project Money 2017 month two is in the books! Don’t forget to come back to the Money Smarts blog for more on Project Money and ways to keep owning your financial life.