Monday, January 14, 2013

Weekly Saving Plan

It is a fact that if you do not have a plan you will not likely prosper or you will not have a concrete path of what you are going to do. At the end of the year, we usually bombarded with holiday expenses. If we are not careful, we will really go broke. So my plan for this year is to follow a weekly saving plan that will help me with end of the year expenses. 

I saw this very interesting way of saving in one of the wall post on facebook and gives me an idea to to try for myself. We know that there are 52 weeks in a calendar year. On a weekly basis, we can keep an amount equal to the # of weeks. Like for example, on week 1, you save $1, week 2 $2, week 3 $3 and so on and so forth until the last week, 52 weeks, you save $52. If you think the end of the year is more costly to stash about $50 a week, then you can reverse the process. Start saving $52 on week 1 and in December you will have enough cushion since you will only save $1 on the last week. 

Another way is to make a chart with all the weeks and the amount you need to save. If you have the opportunity or enough money then you can go save the higher amount and then just scratch it off the chart until you finish at the end of the year. 

Since this is the start of the 3rd week of the year it is not yet late to start. I will try this method of saving aside from keeping all of our loose coins in a jar. My kids are very prompt in reminding me whenever we have loose coins in the house to put it in their piggy banks. This is also a good way of teaching them about money at their tender age. 

13 Showed Some Love:

genefaith said...

i can't forget how the loose coins saved us on one occasion:) i do agree, weekly savings help a lot!

visiting you from 14/365 BPC

Michell said...

That's great, i did that and it really works. Savings help a lot in case of emergency.

Dhemz said...

wow, this idea is really nifty mamiBless...this is definitely a great way of teaching our kids to save.

murag parehas galing ta ug coin back...ehehhe...imo hapit na mapuno.

BPC hop!

Tess Chancellor said...

I have to try this weekly saving plan. I may have big amount saved at the end of the year.

Anna Lou said...

My co-worker share this saving tips too and I think it is pretty nice.

Chubskulit Rose said...

Our two kids keep all our change at home. They put it in their piggy banks and at the end of the year, we deposit them in their personal savings.

Angela Ricardo said...

We have a little jar here too filled with coins. :) Totally agree with you.

jheylo said...

that's really a great way to save money. I love that bottle bank you have there. I should get one like this for my kids.

~Ms. Joy mH~ said...

good and smart choice! I should have done the same thing to save some especially my blogging money.

Momgen Reviews said...

I have those on my art room but already save a bill one time. I started again but sometimes it will be in used for my kiddo...Anyway, its a big help when you have savings...

working mama said...

savings realy help a lot.. i'm into savings too

emzkie said...

oh i saw that 52weeks saving plan in facebook. that is really cool pero pagka dugay murag lisod na. pero ako naa ko every month. i take $200 sa money na ginahatag ni hubby sa akoa every month for groceries na sya, tapos i try to budget what was left of the money. so naa ko savings 200. kada bulan. usahay makupitan nako. hehehe... pero naa na koy savings na 1,400. pwede na pang plane ticket. =)
BPC!

Rcel said...

wow! so how much na ang na-save nato diha bless? lami na ba pang-pocket money sa pinas! :D i haven't done this. what i did is save up the capital of my business (atchara) kay mao akong target pang-pockey money sa pinas. i hope makaabot sa target amount lagi. :D

Thanks for linking this to BPC! Doing my late hops here!

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