Thursday, August 29, 2013

This month's Money Matters post isn't long or complicated. I heard a really easy saving suggestion a couple of weeks ago and decided to try it. Now, I'm well on my way to an extra $1400 in savings in a year. I'm also thinking about doubling the weekly contribution. Why not? God knows I've got PLENTY to save for.

In any event, I decided to pass it along. Let me know if you've tried it (or will try it). Let's bank those coins for 2014 (damn, I can't believe it is almost 2014...where did the year go)! I won't sing Sistas Are Doing It For Themselves but you get me. I'm giving you the crazy eyes double eye point...and if you don't get the reference, crawl out from under your comfy, cozy rock, get a Netflix subscription and start watching Orange is the New Black immediately!! Pardon my digression.

The 52 Week Savings plan requires you to deposit $1 for each week you've been on the savings plan. So, for week one, you'd deposit $1; in week two, $2 and so on up through week 52. At the end of 52 weeks, you will have saved $1,378. You could double or triple your contribution each week. You could also decrease the amount each week. The real point is to set a small, manageable amount aside each week. It's about whatever works for you. And at the end, bank it and start over, splurge, donate, use it for holiday shopping...whatever makes you happy. Happy saving and happy Thursday!

1 comment:

Anonymous said...

this sounds like a great idea. I am up for trying this!