I really felt like I was on to something with buying discounted gift cards. The very next day, I had a monster Kroger haul that saved us a whopping 49% and I got to transfer over $37 to our Money Game.
“Finally!” I thought.
But something didn’t feel right and I couldn’t put my finger on it. I turned to the same forum members I hung out with when we paid off our mortgage and I got the insight I needed.
You can’t spend your way to wealth. No matter how great the savings and how much you come in under budget, you’ll hit a limit. You can’t spend more than you make.
Having a budget (just a plan for spending your money so you have what you need to pay your bills, feed and clothe your family and drive to work every day) is important. I think coming in at or under budget is the first skill you need to play the Money Game.
Next I started grabbing money. Most of it came from paying attention the budget, coming in under and banking the difference. I started getting better at it learning more savings skills like using coupons and buying several discounted gift cards. This lets you buy the same amount of goods for less money. That’s a good strategy for the Money Game and it’s taken us a long way.
I’m going to define “Money Making Money” as any income that comes in from sales, stock dividends or interest.
I’m tracking “Money Making Money” separately. In addition to seeing the Money Game fund grow, I want to see the amount of money made from money, grow too. That’s the whole point of the game.
I also have a small power up to report. We finished grocery shopping for the week and George had another good round at Kroger. This time he saved more than he spent coming in at 55% savings for more butter, canned green beans, cream cheese and some L’Oreal mascara for me (love that stuff and scored a tube for $4.18 after the sale, store coupon and a mega deal). We came in $3.10 under budget for food and I get to move that over to our MG fund.
Today’s Deposit: $3.10
Level Completed: 141 out of 251
Amount Deposited this month: $315.21
Total Balance: $4,956.07
Our Money Game fund has increased 6.8% so far this month.
$147.22 is needed to reach the next level.