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.
Monday, January 14, 2013
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