Everyone has debts and I’m like everyone. But I have a plan; that’s what sets me apart from everyone else (for now at least).
I recently came across a pin on Pinterest; which intrigued me. It’s called the 52 week savings challenge. For every week of the year this pinner put away money. She started by putting away just $1 the first week and than each week forward she added an extra dollar each week to what she put away the previous week. For example: $1 week one, $2 week two, $3 week three and so on. By the end of the year, she had over $1300 saved up.
It seems easy enough to do and so I’ve put myself up to the challenge. I know I’m a little late starting but I’m going to play catch-up for the few weeks I’ve already missed. I’m hoping to have $1300 saved by the end of the year so that D and I can take a mini vacation for the holidays at a retreat somewhere warm. I know $1300 won’t be enough for both of us, but if at least partial of the fee for the trip is saved up, it’ll be easier for us to consider taking it.
I’m not telling D about it though. I want to surprise him at the end of the year. So, I’m going to go into the bank tomorrow and open up a tax-free savings account. These accounts are great because you can set them up to automatically withdraw a certain amount each week from your checking account and deposit it into the savings account. And like the name, they’re tax-free and the account doesn’t have any fees!
So, I’m going to catch-up to the three weeks of January that I’ve already missed and deposit $1 for the first week, $2 for the second, $3 for the third and while I’m at it, $4 for the fourth week, bringing my total deposit to $10. Easy enough to do don’t you think? Wish me luck with my savings! Hopefully, I can keep on track.
If you have any other suggestions on how I can save money, then please do share them with me.