Embrace the July Call to Action (You Could Win $100!)

Posted

sparklers on American flagIt’s July—and there’s lots to celebrate!

Independence Day, the fact that there are just 177 days left until Christmas, and the start of National Savings Month.

At LearnVest, we’re particularly excited about the latter—so much so that, for this month’s call to action, we want to know: What’s the most you’ve ever saved for one goal—and how’d you do it?

Maybe you scaled back on happy hours and dinners out in order to build up your emergency fund in record time. Or, like one writer you’ll hear from this month, you won more than enough scholarship money to graduate from college debt-free—and even got a refund check.

Whatever it was, please share your story in the comments below—and you’ll be entered for a chance to win $100! And be sure to use your email address when you comment—it won’t be visible to other users—so we can notify you should you win.

Open only to legal residents of the 50 states and the District of Columbia who are at least 18 years old as of the date of entry. Premium users are not eligible. Contest running from July 1, 2014, through July 22, 2014. We will select the most compelling entry as the winner, and his or her story may be published on the site.

LearnVest Planning Services is a registered investment adviser and subsidiary of LearnVest, Inc. that provides financial plans for its clients. Information shown is for illustrative purposes only and is not intended as investment, legal or tax planning advice. Please consult a financial adviser, attorney or tax specialist for advice specific to your financial situation. Unless specifically identified as such, the people interviewed in this piece are neither clients, employees nor affiliates of LearnVest Planning Services. LearnVest Planning Services and any third parties listed in this message are separate and unaffiliated and are not responsible for each other’s products, services or policies.

  • sallysue

    The most I’ve ever saved for one goal was $8,000 for an emergency fund. I did it by taking on a part time job and savings everything I made there.

  • MomtoAnEagle

    We are right on track for saving got our goals to be debt free in a few years.
    We have scaled back our wants compared to our needs.
    Weighing your desire to purchase something has helped!
    We frugally shop, but still allow ourselves an occasional movie or dinner as a treat.
    Everyone has a set spending money limit for the week and no one has to spend it. We enjoy little side jobs that add to our mini vacations fund so we can still enjoy the world and the freedom from debt.

  • Char-anna Koblick

    I saved over $5000 towards buying a house.
    I was able to get a job with 40 hours a week, cut down anything I could do without and within 9 months I had enough for a down payment.
    It has been 10 years now. I don’t have much savings but I did start a retirement plan and pay off all my credit cards, and utilities every month.

  • Leanne Molter

    The most I’ve saved was $1000. I was preparing to move and new that I would not be able to pay all the moving costs with my typical paycheck since I was also paying down a lot of debt at the same time. So I got a second job and did pet sitting as much as possible and all those paychecks went to my goal. After meeting my goal I continued pet sitting and am using the extra money to speed up my debt repayment. And after my debt is gone I plan on working towards my next big goal. Saving for a down payment.

  • Lindsey Short

    Honestly? It was $900 to go to a convention in Orlando, and I did with daily change (and bills) drop into a piggy bank. A literal pig shaped bank. Took me about a year.

  • Lisa Raymond

    My husband and I paid off our $100,000 home in 13 years instead of taking the entire thirty years of our mortgage. Even though he was laid off after 28 years with the same company, we stuck to our plan of adding $150 a month extra to our mortgage payment and putting all of our tax refunds on the principal. There were times, of course, when we could only put $50 extra on the house, or none. There were times we were tempted to just make the payment and treat ourselves to dinner and a movie, but we wanted to be debt-free including our mortgage. We cut cable, had pay as you go cell phone plans, took long weekends instead of week long vacations and gave up beef for chicken or meatless meals at least twice a week. Our teenagers were embarrassed by our frugal ways and that hurt more than once. Now that they are adults, they ask me how they can be debt-free so that also makes up for so much. My husband and I continue to be frugal, not cheap, and it will pay off again when we retire.

  • Samantha Plotkin

    We’re currently about halfway to our goal of 50k for a downpayment on a house. We’re doing it by making it the number one priority after our essential bills (rent, student loans, etc.).

  • JCH

    I saved close to $20,000 so I wouldn’t have to work my final year of school. Even before this goal, I made it a habit to direct deposit a large chunk of every paycheck (75-80%) into a savings account and would only withdraw for rent/utilities and retirement and live with whatever was left over. If the money is out of sight, it makes it a lot easier to save.

    I also would divert $10-20 of every paycheck to a “fun fund” so I could splurge on theater tickets or a nice meal so the year of not-working wouldn’t feel too painful.

  • K W

    Honestly, the most I ever saved was $35000, and it just came from my salary. But the reason wasn’t a good one. ~ I had lost a couple people in my life in one year, and I was just too depressed to go out.