I think the original challenge was to take $20 and use it to generate more money. However, we've been adding up all the extra generated incomes from extra work or extra savings from our hard work with budgeting. Some also pay themselves when they achieve a goal such as losing weight or a no spend day or working out. Some people are truly inspiring with the job they've done!
An example for when it was first begun... My exboyfriend used $20 and some extra wood to fashion a sort of cart that could be towed behind a vehicle. He then could haul away contruction debris from his remodeling jobs without paying for a truck to come to the job site, increasing his income. The extra income he derived from the challenge would then be invested in something else that would make/save extra money as well. Definately put more of a spin on his creativity than I'd seen before...
You're not alone. I've been reading this site for a couple of years, and I still can't figure out what the $20 dollar challenge is!
I guess people make their own rules for accountability and goal-meeting. DH and I are trying to put $20 in the change jar every week. When it reaches $200, we'll put it in the bank. But every blogger here does it differently...
The original idea I think was to take $20. and turn it into a profit. For example, if you're a seamstress and can earn money sewing; you could buy your supplies with the $20., make the item, and then sell it. Whatever you make over $20. is your profit. Some here started buying seeds and garden supplies to grow their own vegetable gardens thus saving money in the grocery stores.
I for one, took $250. which I borrowed from one of my other accounts and opened up an ING Direct account and was given a $25. bonus for leaving it in there for 20 days. I then, took out the $250 and I still had the $25. and continued adding to it. I deposited all of my food coupon money in there, survey money that I received, found money and on and on and on.
Another good idea is to take a something that you don't like. It could be exercising, dieting to lose weight, walking, ironing, No spend days, No gas days, and paying yourself for these days. Some have been very inspirational and original on how they accomplish this.
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February 28th, 2008 at 11:28 pm 1204241287
I guess people make their own rules for accountability and goal-meeting. DH and I are trying to put $20 in the change jar every week. When it reaches $200, we'll put it in the bank. But every blogger here does it differently...
February 28th, 2008 at 11:31 pm 1204241470
February 29th, 2008 at 01:13 pm 1204290817
March 1st, 2008 at 04:50 pm 1204390241
I for one, took $250. which I borrowed from one of my other accounts and opened up an ING Direct account and was given a $25. bonus for leaving it in there for 20 days. I then, took out the $250 and I still had the $25. and continued adding to it. I deposited all of my food coupon money in there, survey money that I received, found money and on and on and on.
Another good idea is to take a something that you don't like. It could be exercising, dieting to lose weight, walking, ironing, No spend days, No gas days, and paying yourself for these days. Some have been very inspirational and original on how they accomplish this.