Happy Friday, and for those of you who celebrate Easter – you probably have a busy weekend in store. We wish you a blessed Easter.
Can you believe it is Friday again? The time is flying by. This is week #16 in the 52 Week Savings Challenge. This is your friendly savings reminder to make your weekly deposit.
The idea behind this plan is that by saving a little amount each and every week, you will end up with $1378 at the end of the year. This money can be used for any purpose that you wish – the main overall goal is that we are saving money. Saving can be hard, and unless you stick to a plan it is easy to fall off the saving wagon.
This week is #16 so you need to deposit $16. Or, if you are working backwards you need to deposit $37.
We used our $1378 to pay for holiday expenses and it worked perfectly! We are 100% committed to this plan again, and we are going to encourage you to join in the plan as well. Every Friday we’ll remind you to make your 52 Week Saving Challenge deposit. You can access a handy spreadsheet to show how the account balance will grow: 52 Week Money Challenge Spreadsheet
Here are some things to remember about the challenge:
- You can begin by depositing just $1 on week #1. The deposit amounts increase each week, so on week 2 you will deposit $2, week 3 is $3 and so on.
- You can also work in reverse, which is what we do. We deposit $52 on week 1, $51 on week 2 and so on.
- It’s easy to use an online bank account for your deposits, like CapitalOne360 or you local bank. This way there is no trip to the bank needed and it only takes a minute to make the weekly deposit.
- It is OK if you have to skip a week – just be sure to make up for the skipped week as soon as you can, so that you can stay on track.
You can do this, and take it from us that it feels really, really good to see that bank balance grow!
What about it, are you in for 2014?
