LittleMissDetermined Posts: 8,009 Forumite
20 December 2023 at 8:23AM edited 20 December 2023 at 8:30AM in Debt-free wannabe challenges
This challenge ran in 2023 and I have been asked to set it up again for 2024. It can really boost your savings pots and help with paying for Christmas, or a family holiday...anything you like really! Last year we set it up for physical cash saving but now the interest rates are better I have included online too 
What you will need for the physical challenge:
- 52 envelopes (the small cash envelopes are ideal)
- A safe place to keep cash such as a safe or lock box for example
- Cash
What you will need for the online challenge:
- A dedicated savings account/potOR
- A spreadsheet/tracker to identify the money in a cumulative savings account
- A means of selecting a 'random' week number if you're adding money randomly
Don't forget to bookmark this thread to make it easier to find!
How it works:
Take 52 envelopes and label them from week 1 to week 52. Throughout 2023 we will be adding money in £'s equivalent to the numbers on the envelopes. At the end of the year you will have saved £1378 to use for whatever you like.
Each week, add a post with which envelope you've filled and I will update the tracker spreadsheet. It is helpful if you can add it with your number inboldto make it easy for me to keep a track
Filling order is optional!
- Consecutively (forwards or backwards) 1-52 or 52-1
- Randomly by picking an number each week and adding that amount
- Alternately selecting 1, 52, 2, 51, 3, 50, 4 etc which evens it out across the year
- Equally by adding £26.50 each and every week
For anyone wishing to join in, please add a comment to be allocated a number and let me know which filling order you will be doing It would also be great to hear what you will be planning on spending your hard saved cash on at the end of the year!
Life gets in the way...PADding is addictive...Saving's better than spending...
My savings diary - Now for a healthier, wealthier me
2024 1p challenge #11 | Cash envelope challenge #01 | SPC #017
Sealed pot 2024 £2363.03 | EF £1000/£1000 | Sabbatical £900/£3000 | Holiday spends £430 | General Saver £2562.77
LittleMissDetermined Posts: 8,009 Forumite
20 December 2023 at 8:25AM edited 25 March at 11:37AM
2024 weekly challenge roll call
#01 LittleMissDetermined
#02~FlowerPot~
#03 lellybun
#04 CMD79
#05 Keedie
#06 Doris17
#07 Annetheman
#08 Ansaxo
#09 BlueJ94
#10 j0bymumof1
#11 Okigirl
#12 TheScarletPixie
#13 JakiJam
#14 NLP7
#15 NLP7-DD1
#16 NLP7-DD2
#17Honeysucklelou2
#18 cybertortoise
#19 coconurtaler
#20nikki2002-2008
#21 2sonmum
#22 Tink_04
#23 Balancinglife
#24 jaxsmar
#25 Littlebigmoose
#26 LittetinksLife gets in the way...PADding is addictive...Saving's better than spending...
My savings diary - Now for a healthier, wealthier me
2024 1p challenge #11 | Cash envelope challenge #01 | SPC #017
Sealed pot 2024 £2363.03 | EF £1000/£1000 | Sabbatical £900/£3000 | Holiday spends £430 | General Saver £2562.77
LittleMissDetermined Posts: 8,009 Forumite
20 December 2023 at 8:26AM
Spreadsheet of amounts paid
Life gets in the way...PADding is addictive...Saving's better than spending...
My savings diary - Now for a healthier, wealthier me
2024 1p challenge #11 | Cash envelope challenge #01 | SPC #017
Sealed pot 2024 £2363.03 | EF £1000/£1000 | Sabbatical £900/£3000 | Holiday spends £430 | General Saver £2562.77
LittleMissDetermined Posts: 8,009 Forumite
20 December 2023 at 8:28AM
Handy weekly chart for amounts
https://docs.google.com/document/d/18qa3xzk4zQtyQ11i3Gk0ta0tJ8NRFEU_bsNgu3DAFEQ/edit
Life gets in the way...PADding is addictive...Saving's better than spending...
My savings diary - Now for a healthier, wealthier me
2024 1p challenge #11 | Cash envelope challenge #01 | SPC #017
Sealed pot 2024 £2363.03 | EF £1000/£1000 | Sabbatical £900/£3000 | Holiday spends £430 | General Saver £2562.77
~FlowerPot~ Posts: 966 Forumite
20 December 2023 at 1:10PM
me please!!! i am looking forward to this!!
flowers x
♥️2024 challenges
#4 365 1p a day challenge 2024 ~ £295/£760🌸
#6 £1 a day challenge 2024 ~ £152/366 🌸 Decluttering 2024🎖️🎖️🎖️🏅🏅🥇🌸 DS2🏅🏅DD 🥇🌸 #2 52 week Cash stuffing challenge 🌸
PA challenge £60 a month - Jan ✅ /Feb ✅/Mar ✅ /Apr/May/ Jun/Jul/Aug /Sep/Oct/Nov/Dec 🌸
My savings journey ~ https://forums.moneysavingexpert.com/discussion/6429570/saving-lots-in-pots/p1
1
LittleMissDetermined Posts: 8,009 Forumite
20 December 2023 at 3:45PM
~FlowerPot~ said:
me please!!! i am looking forward to this!!
flowers x
Welcome Flowers, will add you as No.2
Life gets in the way...PADding is addictive...Saving's better than spending...
My savings diary - Now for a healthier, wealthier me
2024 1p challenge #11 | Cash envelope challenge #01 | SPC #017
Sealed pot 2024 £2363.03 | EF £1000/£1000 | Sabbatical £900/£3000 | Holiday spends £430 | General Saver £2562.77
1
~FlowerPot~ Posts: 966 Forumite
20 December 2023 at 3:57PM
Fabulous thank you x
♥️2024 challenges
#4 365 1p a day challenge 2024 ~ £295/£760🌸
#6 £1 a day challenge 2024 ~ £152/366 🌸 Decluttering 2024🎖️🎖️🎖️🏅🏅🥇🌸 DS2🏅🏅DD 🥇🌸 #2 52 week Cash stuffing challenge 🌸
PA challenge £60 a month - Jan ✅ /Feb ✅/Mar ✅ /Apr/May/ Jun/Jul/Aug /Sep/Oct/Nov/Dec 🌸
My savings journey ~ https://forums.moneysavingexpert.com/discussion/6429570/saving-lots-in-pots/p1
1
lellybun Posts: 411 Forumite
20 December 2023 at 9:51PM
Me too please, me and Flowerpot faithful followers! 😊
2023 Weekly Cash Envelope Savings Challenge #04
2024 Weekly Cash Envelope Savings Challenge #03
2
CMD79 Posts: 751 Forumite
21 December 2023 at 12:22AM
I'd love to join too please. For next year's Christmas fund, so have started this week with a random £51! I'm doing a virtual challenge and have virtually highlighted using your tracker, thank you!
November 2023
I'm always in it, it's only the depth that varies....
Current debt:£10,806.75
Debt free date April 2025 (though expecting this to come forward)1
LittleMissDetermined Posts: 8,009 Forumite
21 December 2023 at 9:52AM
Morning!
Lelly you are No.3 and CMD79 you will be No.4
Happy saving!!
LMD
Life gets in the way...PADding is addictive...Saving's better than spending...
My savings diary - Now for a healthier, wealthier me
2024 1p challenge #11 | Cash envelope challenge #01 | SPC #017
Sealed pot 2024 £2363.03 | EF £1000/£1000 | Sabbatical £900/£3000 | Holiday spends £430 | General Saver £2562.77
2
Keedie Posts: 2,216 Forumite
22 December 2023 at 1:17PM
Hey @LittleMissDetermined, can I please re-join for 2024 but doing 50 envelopes for a total of £1,275.
Debt Free Diary:- The Mental Debt Struggle
Debt Tracking Restart Take 3 from 01/05/2023 = £23,643.30 (8 creditors) So, on 02/04/2024 = £15,543.30/£23,643.30 (1 creditor) = 65.74% repaid Aiming to be Debt Free = 31/12/2025
CREDITORS: Barclaycard (£6,066.23/£14,166.23) 42.82% repaid
(Original Debt on 15/07/2016 was £33,056.76) 🙈
2024 SAVINGS: Emergency Fund (£220.99/£1,000) 22.10% saved || #5 50 Envelope Challenge 6/50
2024 CHALLENGES: #30 Debt Free by Xmas 2024 (£2,030/£6,750) 30.07% repaid1
«1234567…32»
★ ★ ★ Meet yourAmbassadors
Categories
- All Categories
- 342.8K Banking & Borrowing
- 250K Reduce Debt & Boost Income
- 449.6K Spending & Discounts
- 234.9K Work, Benefits & Business
- 607.5K Mortgages, Homes & Bills
- 172.9K Life & Family
- 247.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards
