1 Million Dollars

Wednesday, December 10, 2014

Joining Moneystepper’s 2015 Savings Challenge

I found two amazing new bloggers last week, Simple Cheap Mom And Money Stepper.  I have been having a blast reading both blogs and highly recommend both of them.  Money Stepper has a great challenge for 2015 that both Simple Cheap Mom I have joined.  He has challenged people to make two goals, 1) increasing your net worth and 2)saving a portion of your income.  Given that I joined the blogger group trying to save 50% of your income, yet I am not saving 50%, I am always up for trying to improve.

In 2014, the highest savings rate I had was 30%, but I just got a COLA raise and in 2015 my employer is putting $600 in my daycare FSA, which given that I spend $9,900 annually on daycare counts as a raise too!  So I think I can improve even more in 2015.  My budget says I should be able to save 37% but I don't think that is good enough.  I am going to aim for saving 40% of my gross income which will require some pretty decent side hustles but also should increase my net worth by 50%.  It is a lofty goal, but I think I can do it.

So, what is your 2015 goal?  Will you join Money Stepper's challenge with me?


  1. Thanks for mentioning my blog. I think the Money Stepper Savings Challenge is going to be pretty fun!

    1. Well, you were a good influence so I have to give you the credit right? :)

  2. Its awesome to have you both involved. Looking forward to filling in January's results. Only 29 days to go...! :)