Even though I don’t do goals I do like gamifying and I am seeing the tangible benefit of trying challenges. A new thing I started last Sunday is Snowflake Investment. This was inspired by TOTCF‘s snowflake debt repayment updates which he started two weeks ago.Snowflake debt payments was started by clearing_my_debt who does a mix of 3 challenges to increase the amount that goes into her debt pay down. TOTCF is doing two of these challenges – the penny saving challenge and £1 per day challenge which I am also co-opting.
I know it’s easy to say it’s the same money and you can just invest it regularly but doing this is exciting and forces me to get consistent in another way.
So what’s my snowflake investment going to be like? This will be a mix of Euro and Cents challenge. The Euro challenge is a €1 per day investment that will be made every Sunday so I will transfer €7 to my brokerage every Sunday. The cents challenge is transferring the cents equivalent of the day of the year for a full week so day 1 = 1 cents and day 36 equals 36 cents. For Week 1, this was 28 cents and Week 2 was 77 cents. Since I was starting 1 week late, I transferred €15.05 on Sunday night and started the challenge. Fingers tightly crossed I keep it up till the end of the year.
This challenge will translate to an incremental €366 invested from the Euro challenge and €671.61 from the cents challenge. Total additional investment from this challenge will be €1,037.61. This is an additional investment that I will hardly feel the impact but will have massive benefit to me.
I am making this investment in a separate brokerage with my research/survey earnings so I will be able to track my progress easily. I intend to update this post weekly with my progress.
20/01/2024 update – €28.17 transferred to brokerage made up of i. €8.26 from € and Cents challenge ii.€3.63 from surveys completed and paid out during the week and iii. €16.28 from accumulated account round up.
28/01/2024 update – €9.75 transferred to brokerage made up of i. €8.75 from € and Cents challenge and ii. €1 from account round up. Total invested YTD is €52.97.
04/02/2024 update – €12.6 transferred to brokerage made up of i. €9.24 from € and Cents challenge and ii. €3.36 from account round. Total invested YTD €65.57.