I don't know if you've seen it or not but the 52 week Money Saving Challenge is all over the internet right now. I have no idea how one would go about finding the original post for this idea because there are just too many of them. Do a search and you'll see what I mean.
The concept for this plan is that if you make yourself a savings jar and put in $1 the first week you have started the plan.
Each week you add one more dollar than the previous week. Week 1 deposit $1, week 2 deposit $2, right up to week 52 depositing $52. If you follow this plan at the end of the year you have saved almost $1,400.
I think it's a great idea and decided this would be my New Years Resolution. There is one big drawback. I never have an extra $200 in December. I don't make a set amount of money each week because the number of children I care for fluctuates ...... and December is always the slowest month because of Christmas. I had to adjust the plan if it was going to work for me.
I found this chart at www.savingadvice.com and liked how it was more flexible with the deposit amounts. At the bottom of the chart it has the amounts from $1 to $52.
Each week I put my deposit into my jar and cross off the amount I used from the bottom. If I have a short work week I can deposit one of the lesser amounts and in the summer months when I make larger paychecks I can make the larger deposits. In the end I will have the same total because all the deposits are in the jar.
So that's my New Year's resolution... to work on my savings challenge for 2014. Did you make a resolution? .. and if you did , did you come up with a plan to make it work?
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