The Saved Quarter Challenge - join me in saving money! | Bloggers Lair | Yakezie Forums

I met my goal of saving a quarter of my income in 2010 and I'm putting out a challenge for 2011, encouraging readers to join me in saving a quarter of your income. I'd love it if you would join in the challenge, making the effort to meet your savings goals and gaining linkbacks and traffic to your blog in the process.

Please join me in The Saved Quarter Challenge!

Congratulations on your savings success!  Unfortunately, I'm in the same boat as Derek for 2011.  Hit me up in 2012; it'll be a different story!

I'm all over this! I'll join!

1)  Does overpaying the mortgage count as saved income?  For example,
does the $160 extra we pay directly to principal every month count?

Yes, income that you're using for debt repayment counts if that's the goal you set for yourself.

2)  Are we shooting to save 25% of our gross or net?

It's up to you.

3)  Does "goal-oriented" savings count?  For example, we save $250 a
month for vacations but also use $2000-$2500 of the total every year. 
Does all $3000 count or just the excess?

Yes, any goal-oriented savings counts. It's about being in control of your money and making choices that support your long term goals rather than mindlessly spending. If you're consciously choosing to save for a vacation (rather than put it on crediti) you're well within the rules of the challenge!

4)  Does the matching amount that companies contribute to a 401(k) count?  Or just our own contributions?

I'd ony count my own contributions, but there is no challenge police to tell you not to count it. It's totally up to you.

If you guys are planning on joining, come on over to the blog and sign up! :) I'm glad to see the interest!

Okay, now that you clarified, I'm up for this.  25% net directly to debt reduction.  :)

after reading all the explanations and guidelines of the challlange I am very interested in joining!