Sunday, January 4, 2015

The Alternative 52 Week Money Saving Challenge for 2015

So, I'm sure that most of you have seen the 52 Week Money Saving Challenges out there on the internet.  I've decided to use an alternative style.  I had come across this idea a few years ago, but for the life of me, I can't find it again, so I drew it up myself for this post.  It basically alternates from the low end of the savings to the high end and back again.  So on the first week (I'm starting on Jan 3rd) you put aside $1, then on the second week you put aside $52, on the third week, $2, on the fourth week, $51 and so on.  You get the idea.  Here's a visual for you.

(This is my first time making a downloadable link, so please let me know if you're unable to download.  Thanks!)

I like having the amounts staggered rather than having all the large amounts together.  If we have an unexpected bill or something comes up, then it won't be so hard to save $52 one week and $2 the next, but saving $52 then $51 the next week is a little harder to do.  This alternating between the larger and smaller amounts just makes things a little easier.  Saving the larger amounts all at one time (either at the beginning or the end of the year) is tough when you're living paycheck to paycheck.  Doing it that way would be $202 in one month.  I don't know about you, but that's a little bit much when I have to buy groceries!

Also, having the bigger amounts toward the beginning of the year is easier (in my opinion) than having them at the end when Christmas is coming.  To me, it's harder to save around the holidays.  By then, I'm wishing I'd have been saving all year and with the holidays, my hubby gets time off, so the pay's not as big (not getting overtime makes a big difference) so it's a little harder on the wallet.

I think I'm going to start something with my 4 year old as well.  We're just starting to learn about money, so this might help him.

Of course he doesn't have a "job" but he's going to start "earning" this money by doing his chores.  We've been a little slack in the chore department.  He has them and does them, but we haven't been as consistent as we had planned to be.  Don't judge.  It's the least of my worries right now.  But hey, New Year, New Plans! Part of the New Year's Resolutions list.  (We might get the 2 year old in on it too, but that would be more for fun than teaching at this point.  He is so cute when he giggles and claps his hands at the "plunking" the money makes in his see-through bank that he got for Christmas!)

I suppose one of the biggest thing on my list (every year) is to be more organized and this money saving plan falls right into place with that particular resolution.  There are many subcategories to that resolution, but that's a whole other post!

So, who's with me on the challenge?  If you don't like my take on it, you don't have to use my particular schedule... or you can make your own.  Just Google "52 Week Money Saving Challenge" and you'll instantly become overwhelmed with spreadsheets of all kinds, shapes, colors, etc.

I'd love to know what you think of my plan(s) above.  Do you like it?  Hate it?  Want to give it a try?  What do you think of the children's version?  Let me know in the comments below.  Thanks and Happy New Year!

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