12-Week Emergency Fund Savings Challenge
On October 18, 2021, Budget Leaf will be launching a 12-week savings challenge aimed at helping participants learn how to develop the discipline needed to build their emergency fund. If you are interested, all you would need to do is download our free calculator that will help you to calculate how much you will need to save for your emergency fund. Many people find difficulty in trying to save, especially in terms of how they should start. An emergency fund is a possible cushion just in case your regular income is affected by circumstances out of your control. Join Budget Leaf as we show you how you can start your own financial journey.
How the Challenge Works
First, you would need to download our free Emergency Fund calculator and have two friends join you in the challenge, either as fellow savers or just to hold you accountable. The challenge starts On October 18, 2021 and goes for 12 weeks (3 months). You would decide on a specific day of the week, such as your payday, when you would place your calculated monthly emergency fund in your savings account/ container for this purpose. For example, if your take-home salary is $80,000 per month, then dedicating 5% of your income to the challenge would be $1000 every week. If a payment is missed, it must be doubled on the next pay date. Implementing late fees and fines are also an option. At the end of the 3 months, decide on a reward, such as something that you’ve wanted to buy for some time but didn’t have enough money for. This will help you to keep focus as you commit to the challenge, and reward definitely sweetens your labour.
Growth Is Attainable
If you would like access the free Budget Leaf Emergency Fund Calculator and Printable Worksheet for this challenge, please click on the link below to access them now. Also, if you don’t have any questions or concerns, please don’t hesitate to reach out to us for clarification.
See you on October 18!