Photo Credit: Ramit Sethi

 I checked my inbox today and I got an email from Ramit Sethi on a challenge to save $1000. 

Here’s how it works: Each day in November, I’ll post one suggestion to cut your spending. If you spend time each day working on the day’s post, the vast majority of you will save over $1,000 each month. Even if you don’t, saving $700 is sure better than nothing. I’ll post tips for the first 15 days. For the last 15 days, I’ll turn to I Will Teach You To Be Rich readers to submit your best frugality tips.

Here’s why I’m excited to try this out:

• Practical and usable tips. What I enjoy about Ramit’s site is that he is very focused on giving advice that many people will actually do. 
• The goal amount is big enough to motivate me. We could use an extra $1000 to go into our pockets (actually saving account).

Starting tomorrow, I’ll be participating and blogging about the 30 Day Challenge. Every couple of days, I’ll be sharing how I’m doing with challenge. For the last 15 day, I’m going to share my thoughts on whether it’s feasible for me to use the tips or if I have to tweak it a bit. 

Please come join the challenge and leave your thoughts on it as you come along.

Update:

• Tip#1 $45/month
• Tip#2 $10/month
• Tip#3 has brought me $15 for two books I haven’t used.
• Tip#4: $10 for an ING Referral bonus
• Tip#5: $7.25/month
• Tip#6: $235/month once the car loan is paid off
• Tip#7: $80/month
• Tip #8: $20/month *note we did this before the challenge
• Tip#9: $240 this month * this also include items we got for the dining room
• Tip#10: $420 for the vacation *I’ll update this as we finish up the car rental and ticket purchases.
• Tip#11: $50/ for a pair of glasses  *estimated, but not purchased
• Tip#12:  $25/month (being conservative) *after we use the 3 coupons to break even
• Tip#13: $0/month

•  Grand Total Saved:$1,002.25 *what I actually save during the challenge, not including future purchases
• Monthly Savings: $292.95

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