Lessons Learned from Money Challenge #1….and new challenge!

It’s been a week since Money Challenge #1 ended. It was quite humbling to come up short by almost $200. But I learned some valuable lessons to help aid me in accomplishing future challenges:

1. Don’t stop the winning streak. I quit collecting money everyday on Day 12 of my last challenge and never fully got back on board. That was a mistake. Taking a break made me lose the momentum needed for achieving the objective. In the future, there should be a daily blog post to stay motivated.

2. Be reasonable with goals. The Beard thinks it was silly to set a random dollar amount in the last challenge. When I told him I wanted to somehow make $500 in 31 days, his response was, “How did you come up with that amount as a goal?” I didn’t have a good answer. I guess it’s better to set smaller, more realistic goals.

3. Stay motivated. I could have psyched myself up more to help myself stay motivated during the last half of the challenge.

So I’ve decided to take on a similar challenge with different goal points. Plus, this one combines my love of accruing extra money with my desire to downsize my belongings in hopes of embracing a more minimalist lifestyle.

So the new challenge is:

Everyday Listing/Selling for 31 Days

That’s right. I have to list or sell something every day. Every day, I need to put something on Craigslist or Ebay or Facebook to sell or I need to somehow sell something by taking it to a resell shop.

Although I haven’t created the rules of the challenge yet, I’ve already decided to list something. So, as of Day 1, I’ve listed this brooch on Ebay:

IMG_0875

This kickstarts Day 1 of the challenge. Hopefully with a daily goal as part of the challenge I’ll actually be able to achieve it!

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