Welcome to our first 2016 Project Money monthly recap! As we kick off the journey, we’ll be updating you every month on the progress of each team, key lessons they learned and the tactics they used to get them there. Keep reading to see how these four teams are already saving cash and totally Owning It.
Amanda & Nick:
Within their first week of Project Money, these two were proactive, opening new checking accounts – both joint and individual. They plan to add money for “fun” expenses to the account and are also setting aside money for yearly expenses like holidays and car registration fees. Most recently, they saved money by chipping in on Father’s Day gifts with Amanda’s sister, and hosted a family cookout rather than eating out. Nice work, Amanda and Nick!
Drew & Liz:
Drew and Liz have already started getting innovative with their Project Money lessons, sharing weekly home-cooked meal recipes in their posts and switching their shopping from HyVee to Woodman’s, where they saw immediate cash savings. The pair will also be cutting hundreds of dollars from their monthly bills as they’ve decided to completely do away with cable, and canceled the gym membership that they weren’t fully using (the treadmill in the basement will do just fine). Great start, team!
Emilee & Rob:
Emilee and Rob, the youngest couple of this year’s Project Money, have already proven they are wise beyond their years. Their first move when meeting with their financial coach? Drafting a list of ALL their short- and long-term goals, including the specific year (2018) they want to buy their first home. The couple also posted a pretty handy blog entry about their savings from buying off-brand products and shopping at Aldi’s. If you haven’t read that one yet, do yourself the favor. Keep up the good work, you two!
Heidi & Mitch:
Heidi and Mitchell jumped off to a great start this year by setting out to create a daily expense worksheet almost immediately. A first major change was to stop eating out for breakfast and lunch throughout the week, which helped them to save over $80 on their first go at it! What’s more, the two are thinking big-picture, as they're making plans to start a college savings fund for their two children, Colin and Chloe. Now that’s how you own month one. Well done!
Well there you have it, savvy savers! Month one of Project Money is in the books. Keep coming back to catch our monthly recaps, and follow along with our Project Money participants the whole way on their blogs and the Summit Facebook page!