Tuesday, March 20, 2018

Survey Question: the Vicky Challenge!

I've been thinking about bringing back the Vicky Challenge where I break down our savings each week.

Here's a sample of an older Vicky Challenge post ....  The Vicky Challenge:  May 19th, 2016

Let me know in the comments what your thoughts are!

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patsi
She looketh well to the ways of her household … Proverbs 31:27

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22 comments:

  1. Hi Patsy and it sounds like a great idea I would love to be involved :).

    Sewingcreations15.

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  2. Hi Patsy, I really like the Vickie challenge.It always inspired me to look at my own worth in the home.

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    1. Angela, it's like a shot of encouragement isn't it?

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  3. Would love to see it return. Always thought provoking.

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  4. I enjoy seeing what others are doing but do not keep track myself.

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    1. Lana, I needed to take a break from it too for a while but now I'm ready to get back to it! We're all in different seasons with different goals where this may or may not be beneficial. For me, right now I need the challenge and motivation to seek out the better deals which in turn will help us towards our goal of paying down our debt and increasing our savings.

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  5. while I like the concept the "number cruncher" in me sees a lot of unmeasured costs that aren't be attributed to items. For example - 2 dozen eggs from chickens saved $6. Does that take into account the cost of feed and housing for the chickens? It's a good way to motivate someone to keep doing things themselves instead of just buying stuff but it does suggest a higher savings/lower cost of living than is accurate. Of course to do it accurately would be a tremendous amount of work.

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    1. Miriam, I have always striven to be as accurate as possible when listing my savings. Everyone's set up and situation is different which gives different level's of savings.

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    2. Dear Miriam, Ive been doing the Vicky Challenge for a couple of years now. You can make it as simple or complicated as you like. I like to keep it simple. i.e. with eggs and chickens... you could go money saved from buying garden fertiliser, money spent on chook food, money made on selling eggs, money saved on buying eggs... money made by more home cooking, this all does include better healthy eggs from healthy happy chooks. Then theres pests kept out of garden by chooks... overall I find chooks a big money saver and potential income booster so I just count the savings in eggs. I hope that helps. Love Annabel.xxx

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    3. Annabel, you explained it well, thank you!

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    4. Miriam I second Annabel. First it is not just about doing things yourself and not buying stuff. And pretty much you are saying that we are just spinning numbers. You have to look at things a little differently as to how saving effects the household beyond the amount on the paycheck each week. You are only looking at the one aspect of it. The rest of it is a little bit of lifestyle change, changing the mindset and getting the most bang for your buck! You first have to change things to be able to save then you start seeing the differences in the numbers. For example we used fuel oil to heat in winter for years and it cost us $400-$600 a month. We decided a wood burner would be more economical so we bought one. I didn't count is as a savings the first year, but we have never bought wood we get it all free and split it ourselves, it paid for itself the first winter. I deduct the cost of the gas and oil it takes to run the splitter, but to this day we have never had to pay for wood or labor costs to have it split for us and now during the winter months we have the extra in the bank. I make sure that the things we do are a good ROI or ROT, plan based on the cost of gas and how much I will be driving down to the dime of how much gas I will need to budget for, etc. I know many who claim donations on their taxes to save a little come tax time so if giving things away is worth something then it should count if we are gifted things that save us money. And everything does add up.People can have more than what the income reflects. I know a couple that the husband makes $1800 a week and they have no savings, no pantry, the house is in disrepair, no retirement, no vacations, nothing. My hubby doesn't make near that yet we have vehicles that are paid for, a home that is paid for, a pantry that can see us through any crisis some emergency savings, and no debt all from making changes on how we spent and saved and challenging ourselves to save in our every day lives not just putting a few dollars in the bank on pay day.
      XOXO
      Vicky

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    5. Thank you Vicky, you also explained it well.

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  6. I think it is a great idea--I love seeing how you are intentional about being aware of your savings (I would have to think that recording individual savings throughout the week helps with that.) While I haven't recorded my own savings in the past, reading through your list helps me to be more aware of what I've accomplished (I often think through my mental list after reading yours) and I became more intentional of ways to save, and more aware of how much my frugal habits make a difference to my financial well-being.

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    1. Tammy, thank you, one of the purposes of sharing is to motivate others to be aware of where savings can be made. I'm glad that it does that for you.

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  7. As much as I see the value in such information, as a working single head of household, I just don't have the time available to track such information. For me, it would be more helpful to know the sources of said savings (i.e., did the savings come from an Aldi or Kroger; does Walgreens or CVS have the better price on XX this week). Other tips / tricks for savings are also helpful and truly welcomed.

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    1. Lack of time was one of the reasons I had to take a sabbatical from doing it last year, so I understand. Thanks for your input, I will take it into consideration!

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  8. That would be great. I love to see how much you save and others.

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    1. Thank you Making Cents Of It All!

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  9. Thanks to all who responded to my comment. Please don't think I'm poo pooing the whole idea...I was just worried that if I did it it would either be too much work or would be a highly exaggerated number that would feel false to me and there not worthwhile doing. I am in the middle of doing a major remodelling of a small house and while I haven't tried to figure out how much I have saved by doing the work myself I am sure it is substantial

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    1. Miriam, if you are doing the work yourself you are indeed saving a huge amount of money in labor costs!

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