By: Revanche

$5K/5K Challenge Closing with a Giveaway

June 6, 2010

The $5K/5K Challenge was a long sprint that we sprung on you.  It was meant as a friendly competition to encourage accountability and share an experience that is inevitably going to have its downturns.  Believe you me, I would not have been nearly as enthusiastic about cramming on those projects working late into the nights and sacrificing lovely sunny weekends without my cyber support and fellow “racers.”
Of course, I never did decide exactly where that money was going to go, so let’s do a quick allocation before getting the good stuff.  

The total:  $4700 (we’re ignoring the change) 

Referring back to my Dual Household, Single Income post, and the follow-up with bloated savings goals of April, this should be pretty easy.

Almost too quick and easy, no?  I’m finally past the stage where I feel like every budget calculation has to be done a jillion times to be satisfying.

This fast-tracked savings challenge has allowed me to reach my savings goals almost 2 months in advance. If you revisit the original chart, the timeline had these pots filled by the end of July. This is an excellent leg up and head start into the next round of savings.

There’s no guarantee that the next several months will be nearly as fruitful because freelancing puts you (mostly) at the mercy of the clients but that’s part of life.

And, now for the good stuff!

Surprise!

I’m rewarding one of my intrepid challengers with a $50 Smarty Pig gift card!  Those who have been posting/updating their goals should leave a comment about their progress and email address to enter the randomized drawing.

The Rules:
I’ll pick a winner on Tuesday 9 pm PDT, all decisions final, winner must respond within 24 hours of contact or I’ll pick a new winner.  The reward is the responsibility of the Smarty Pig folks, I don’t have the card myself.  Be forthright, be good, and prepare yourselves for the next challenge!  In fact, tell me what you’d like the next one to be.

8 Responses to “$5K/5K Challenge Closing with a Giveaway”

  1. Success! I was able to save $892 from my eBay/Amazon sales and tightening my belt :). I know that you and Single Ma played a big part in that success! Y’all was on the grind and kept me motivated!

  2. Danielle says:

    I paid off the full $1500 to my debt this month. I wasn’t able to meet my fitness goal because of a really absurd illness that I got, but it was still a great month fitness-wise and I lost about ten lbs. I was involved in a pedometer throwdown, which gave me the incentive to make steps my fitness goal in the first place. I may not have reached my lofty goal, but I did win the contest, so I got a sweet spa package at the Four Seasons. I am super excited to use it later this summer when I am in Philly! (And I am always happy to pay off debt.)

  3. Ciawy says:

    Though I wasn’t able to save $750 as planned, and still spend a little bit of money while at work, I know I did good for myself. I’m gonna continue to save to be able to reach my goal of putting 19K in my savings. I’m also planning to post every Friday as to how much I’m spending while at work and how much I’m able to save every payday. http://runworkandsave.blogspot.com/2010/06/continuum-savings-challenge.html

  4. Matt says:

    Revanche, amazing success! Congratulations. Had I been paying a bit more attention to my subscriptions I would have participated (though I’m not sure 5K would have been achievable – something definitely would have).

    Again you’ve done amazing to get this far and its an inspiration.

  5. Candace says:

    Oohh! I have always been interested in the Smarty Pig savings accounts.

    Thanks for hosting the challenge. I am soo close to paying off credit card debt now, and I can’t wait to feel what it is like to be debt free. 🙂

    candacekissinger @ gmail.com

  6. Serendipity says:

    I was able to make 80 bucks extra this month. Not quite close to my 250 goal but enough to help cover W’s part of the phone bill since he’s come upon some hard and crappy times.

    http://savernotaspender.blogspot.com/2010/06/5k-challange-recap.html

  7. We should have more savings challenges. For this challenge I was able to save $1,000. My goal was $5Kn but Uncle Sam held on to my refund a wee bit longer than anticipated. I do intend to complete this challenge once I have my refund in a few weeks.

  8. Revanche says:

    Thank you for participating, all, and congrats on your accomplishments!

    I’m taking a short breather but then I’d like a new challenge. What do you want to do?

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