Wednesday, December 28, 2011

Sealed Pot Challenge

I have joined Sft's "sealed pot challenge" and I'm sure that if you haven't joined yet but want to there's still time.  

I've decided to double the challenge and tie the "opening" of the sealed pot to a weight loss goal. I get to spend whatever I've saved it the "sealed pot" on myself IF AND ONLY IF I drop a size and maintain it til next December. Otherwise it stays sealed until such time as I reach my weight goal - I could be a millionaire someday if I keep eating the way I have been lately !!  

So far I've been adding coins on a pretty regular basis. It should add up as I only add $1.00 coins, $2.00 coins and quarters. I think I even stuffed a $5.00 bill in there a couple of weeks ago!

I have no budget update. That's because the budget for December is in shambles and I really don't want to face the numbers right now. It's not that I spent outrageously because I didn't, but I did go ahead and buy myself that iPad I was desiring so badly and I did come under budget for December by about $300 which will be applied to the cost of the iPad. BUT I did pay for it with my mastercard because I just couldn't wait! Bad Jane, bad bad Jane!!

So I just want to ignore that little indiscretion a while longer til the Christmas glow wears off and January is staring me in the face. Then I will bite the bullet, draw out what I need from savings to cover the rest of the iPad bill, and start January 2012 with no credit card debt once again. 

On the bright side I updated my MONEY BARS way down on the sidebar. I reached my 2011 goal of increasing my TFSA (long term savings)to $15,000 and am already working on 2012's TFSA goal of adding another $5,000. (I'm at $2,000 already and 2012 hasn't even started!!) My RRSP total should hit $45,000 by March 2012 and then I'll need to increase that goal - I hadn't planned on making anymore RRSP deposits due to increasing the TFSA instead but I might change my mind once I do the number crunching at tax time. 

My EF is close to its goal, once I hit $2,000 I plan to increase the goal to $3,000 or higher. Christmas and Gifts is at zero of course but will reach $1500 once again next December. My PEI Maintenance fund and the PEI Home Insurance and Property Tax accounts are right on track and I've decreased my Line of Credit by  a whopping $26,350 since Aug. 2010. By the end of 2012 I will only have $5,000 left to pay!! If I can throw any extra $$ at the LoC over the course of this year I will with a stretch goal of $0 owing by Dec. 31st, 2012. Big stretch!!

I'm very happy with how the financials are doing right now - I'm still on track for retiring in 914 days! 

Thought for the Day: "Feeling gratitude and not expressing it is like wrapping a gift and not giving it."  William A. Ward

So I'm sending out a big thank you to all of my blogging friends who have supported me through the many ups and downs in 2011. I look forward to maintaining those relationships through 2012 and hope I can provide as much encouragement as I receive! 


Suzy said...

ok I'm having a dumb moment (or 2) but I clicked to that blog and see a ton of goals and a list of names for the sealed pot challenge but can't find where it says what it is ..saw a post where she's giving herself pts for each goal done each day? is that it?

I'm wiping the rest of dec out of mind- this next check and credit union check I'll take care of Discover's balance and hopefully get back on track with an actual budget.


Jane said...

Hi Susanna - I changed the link in the post - hopefully it will get you to the right Sealed Pot spot now:)

Anonymous said...

Im doing it also although its a giant pickle jar, which was what I had at the time.

I am happy that I found you in 2011 and even happier that we are friends going into 2012

By the way I am sooooo jealous that you have an Ipad :)

Marguerite said...

Great idea having the pot link up with a goal, it will really make you want to save and keep with your weight goal at the same time. I just got a Kobo this year for my birthday and found I spent ridiculously on ebooks over Christmas. I feel much as you describe about wanting to ignore that bill but they're so hard not to buy when it's only a few dollars per book.

Lisa said...

I like how you are tying the sealed pot challenge to an achievable weight loss goal. Great idea! And to treat yourself to the ipad.... Good for you!! You will have a paid off in no time :)

Debby said...

WOW, you are hitting your goals left and right, can't wait to follow along in 2012!!

Sharon said...

I just love the idea of the sealed pot challenge, which I've started but haven't quite found the perfect "pot" to put my change in. I like the tie up to the weight thing, but I'm afraid if I did that it would end up being my kids' inheritance. ha!

You are the best Jane! One of my goals should have been to plan a visit to my favorite bloggers...hey, I still may do it! :)!

Here's to a great New Year!

Johanna said...

I'm so glad to have met you. It's been a terrific year and hopefully 2012 will be just as great!!