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Personal Finance Challenge Follow Up — Congrats Everyone!

On Monday, I issued a challenge to readers and bloggers to take a single small step to improve their financial situations.

My own small step was calling World Vision and changing my automatic donation information from the bank account I’m about to close. It was quite easy to do (the entire conversation took less than 10 minutes) just something that I was putting off because it was even easier not to do it.

When I called up, I was able to change my name, e-mail address, home address, phone number, and card on the account. I hadn’t actually updated things since I got married, but everything was working fairly well. Mail went to my parents they’d pass it on if it was important.

Another step towards getting my bank account clear of any automatic withdrawals. Now I’m closer to closing it (I’m giving it some probation time just to be sure I’m not forgetting anything).

Here’s a list of the people who’ve taken another small step this week towards making their financial situations better:

Congrats everyone, you’re doing great!! Thanks for joining me in this.

I’ll keep updating this list as others pick up on the challenge and write about it. Also, if you’ve written about it and your link isn’t yet up, feel free to pop me an e-mail because I might have missed it.

And yes, there’s always still time to do this.

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Christine July 18, 2008 at 11:28 am

You spelled “testament” wrong πŸ™‚

mrsmicah July 18, 2008 at 11:33 am

Umm….*looks around* no I didn’t. Because it’s fine now and I couldn’t have possibly gone into the post and edited it. Ever. Of course not.

I plead writing fast in Notepad and not checking the spelling when I got to WP. And that skiing accident where I hit my head.

deepali July 18, 2008 at 2:20 pm

I have been trying to come up with something for this (and can you believe I have read every single comment and post you’ve mentioned to come up with an idea). But everything is on track, amazingly enough. I’ve got a budget, I’ve got insurance, I’ve got debt repayment (soon to be done!), I’ve worked out a credit card usage system, I’m even budgeting for expenses in a foreign country next year as well as travel the year after that. I even have a will and beneficiaries for everything!

The only thing I haven’t done is figured out what to do with all my rolled change….

mrsmicah July 18, 2008 at 2:29 pm

Can’t fault a good thing, deepali. It really does sound like you’ve got your ducks in a row. πŸ™‚ Congrats!

learning the ropes July 18, 2008 at 2:32 pm

Oops, I missed the announcement yesterday, but this sounds too good to pass up just because of that. I’m still going to do my bit:

1) Change the address on my trading account
2) Prepare a 1 pager with my spouse on the details of all our accounts, should anything happen to one of us.

Cath Lawson July 19, 2008 at 10:57 am

Hi Mrs M. I followed the instructions wrongly. I thought we had to come back to you on Friday and tell you we’d done it. And I thought I was going to come back and say I haven’t started.

I’m struggling to get some old debts collected in, so that’s what I’m going to be working on this week because I could really use the cash.

RacerX July 19, 2008 at 12:38 pm

Wow. On the list. Thanks for the inclusion, plus all of the other great ideas!

RC@Thinkyourwaytowealth July 19, 2008 at 5:01 pm

Thanks for the mention! I’d better get started!

PT July 19, 2008 at 5:28 pm

That’s a lot of first steps. πŸ™‚

Funny about Money July 19, 2008 at 9:31 pm

Thanks for the mention! Glad to be back in the virtual land of the living, and always happy for a nod from your precincts. πŸ™‚

deepali July 20, 2008 at 11:34 am

Ok, I finally figured something out! Thanks for doing this – I am very much enjoying reading everyone’s posts.

Ryan McLean July 20, 2008 at 9:15 pm

Wow! This has turned out to be one of the best ideas ever. Well done you have really created a winner here

frugal zeitgeist July 20, 2008 at 10:12 pm

I’ve got one: I’m paying off my mortgage on Wednesday. πŸ˜‰

Livingalmostlarge July 22, 2008 at 12:03 am

LOL! I still have to post mine I was slacking last week.

Kelsey July 22, 2008 at 12:43 pm

I have decided to take a step towards figuring out where my money is going by tracking my expenses for two weeks. Then I am going to try and figure out a budget to save money!

MoneyEnergy July 22, 2008 at 1:12 pm

Hi Mrs. Micah! Thanks for the mention; and it’s interesting to see someone else donating to World Vision – I used to do a monthly donation to them before I switched to a similar, but different organization so that I could fully sponsor a child (she’s in Uganda). I’d like to find more ways to get involved that suit me – hopefully even going there someday.

CDC August 21, 2008 at 5:40 am

I did a few things that were baby steps, but I’m still pretty happy with:

1) I used a coupon for the first time in my 36-year life. I saved 2 bucks on razors. It was odd to be proud of myself for something so small.
2) I’ve been neglecting my Quicken for more than a year. I should have been keeping it up – I support a family of 4 on a single income – but honestly I just get worked up when I look at the savings account and it has nothing in it, so I let Quicken get dusty. I’ve fixed that now.

Next I think I need to setup a budget (haven’t wanted to do that either), get a copy of my credit report so I can get a plan on how to clean that mess up, and maybe start leaving my debit card at home to avoid impulse or “therapy” buying (and just leave myself $10 in the wallet).

Thank you for putting the challenge out there. It may have seemed like a small thing, but it’s huge for some of us.

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