If your family is anything like mine, you know that it goes out as fast as it comes in. Money is what I’m talking about, and I for one am sick and tired of not having enough cash for Christmas and birthdays and anniversaries. I found this really cool idea online and I’m sharing it with you.
It’s called the Weekly Savings Plan and it couldn’t be simpler. Every week, you put the dollar equivalent for that week number into your savings account, or a jar, or in a sock, or in an envelope that you shove up in the freezer behind the ice cream and the frozen pizzas. It doesn’t matter where you stash your cash, it just matters that you stash your cash. First week you put $1.00 in, 25th week you put $25.00 in, 40th week, you put $40.00 and so in. You can print this handy chart below off (just click the image to download the PDF version) and I’ve even provided you a place to write in the date you made the deposit. If you only get paid bi-weekly, then you can deposit your amount bi-weekly and record the dates.
As you can see, by the end of the year you will have saved $1,378.00 if you don’t dip into the savings throughout the year. I don’t know about you – but that would be a nice little nest egg to have on hand to start the new year off right!
This is a great learning experience for your kids too. My personal opinion is that kids nowadays don’t know the value of hard work and the value of a dollar, my own included. It burns my butt when they stand there on payday with their hands out for an allowance that they didn’t earn simply because they think it is “owed” to them. Compared to how things were when I was a kid, they must think they are the second coming of Ricky Stratton or something!
While I don’t “do” resolutions, I do have goals that I set for each year. One of my 2016 goals is to attempt to save at a minimum 26 weeks worth. What about you? Have you made a money management/savings resolution or goal for 2016? Share with us in the comments below.