We all put away money into our savings, RRSPs, TFSAs, etc., etc. There are so many ways the banks can get you to save money with or without a fee or interest involved. But if you’re like me, you tap into those savings the minute something goes wrong in your life and then your back to square one with nothing saved.
So, although one of my goals (for the rest of my life) is to try to put money away in a savings account I don’t generally tap into, I also have a goal to save money to splurge on things I normally wouldn’t buy right out of my checking account. A simple way of doing it is the old-fashioned way; get a piggy bank. Yes, I know, those are easier to get into than a savings account. But here’s what you’re going to do; you’re going to crazy-glue the rims of the cap on the bottom of the piggy bank and then duct tape over it so there is absolutely no possible way you can get into it without breaking the sucker. And here’s how you’re going to save money:
You’re going to begin by putting just $1 into your piggy bank at the end of this first week of January. On the second week of January, you’re going to put away $2 and on the third week you’ll put away $3 and so on, so forth. By the time you get to week 52 or the last week of December 2015, you’ll have accumulated $1378 indefinitely (if you’ve stuck to the schedule). Then add in all those times when you have extra change in your pocket that is weighing you down, toss that in too. Or how about after you and a colleague went to grab coffee and there was change left over, toss that in as well.
By keeping your piggy bank in the one place that you spend most of your time (for me at work), you’ll end up tossing in extra change when you have it and that will add to your savings. I had a friend tell me she used to toss all her change into a little jar at work, that sat hidden in her desk drawer. By the end of the year, when she finally broke it, she ended up having over $2000 saved.
So, are you up for my challenge to save for those off-the-budget goodies? I am and I’m starting today! I’ve set up reminders on my phone for every week to prompt me to save. You can set up something similar for yourself. Happy Saving!