Saturday, February 1, 2014

New Savings Plan


I don't usually post on the weekend,
but realized that I had mentioned this idea
and neglected to write up a post about it.
It's about a month into the challenge,
but early enough that you should be able to play catch up.




Have you heard of the 52-week
money savings challenge?

Starting with the first week of the year 
(okay, so I'm starting a little late),
save the amount of money that matches the week of the year.
Week of January 5th-$1
Week of January 12th-$2
Week of January 19th-$3
etc.

By the end of April, almost $200 will have been saved!
By the end of June, the halfway point, 
about $350 will have been squirreled away!
If you are able to put more away, feel free to do so.
Kids can participate too,
by putting away a dime, nickel or quarter a week.
What a great way to get them saving for that inevitable rainy day!

Thanks to Jacky for the inspiration! 

***Update:  We completed the challenge with a bit of tweaking.
We weren't able to save the full amount as per the plan,
but we did manage to squirrel away enough for all of our Christmas gifts.  Even that felt very satisfying!





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10 comments:

  1. I've seen this - it really is a good idea. Even if you're good at saving I think this would be a great way to save for something special.

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  2. This is a new idea to me. What a great idea! Thanks for posting about it.

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    Replies
    1. Glad to have brought you something new! ;0)

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  3. I've seen this and was going to do it.
    I decided it would be easier for me tor remember to put back $26.50 a week.
    Well, right out of the shoot that didn't work. So...I'm doing it the way they suggested.
    I'm on track for now.
    I say-- putting anything back that you can is helpful.
    Glad you're doing it...thanks for the reminder.

    Pat

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    Replies
    1. I've seen folks that suggest doing it backwards too-start off with the $52 and go from there, but I'm not able to do it that way this year. Any little bit of savings is a good thing. ;0D

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  4. Replies
    1. At this point, we're not sure, but we are working on saving up an emergency fund.

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  5. I've never heard of this challenge. What a neat idea. Thanks for sharing with us at The HomeAcre Hop!

    Please join us again Thursday at:
    http://summers-acres.com

    ~Ann

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Thanks for taking the time to leave your thoughts!