Monday, August 5, 2013

MONEY MONDAY: 52 Week Game Plan.

Introducing MONEY MONDAY, I bring you the 52 Week Game Plan!

You can thank Pinterest for this one! As I was browsing through ways to save money with a simple weekly or monthly plan, I came a crossed a fun idea. 
BAD NEWS: I don't have access to the account until a year after I opened it. 
It is called the 52 Week Money Challenge.  

The plan is set up to save money for 52 weeks, starting just a dollar at a time. Each week you increase your amount by $1 and at the end of the 52 weeks you should save up $1378.00!! However knowing myself, I am broke when it comes to Christmas time... so I decided to start with the big bucks first and work my way down... 

In January of 2013, I set up a NEW savings account, reversed the plan and started at $52 and worked my way down. Already at week #25 I had $1080.90 saved up.... (one tip I forgot about was as you save, you build interest in your savings account).

Another cool thing is my bank offers a saving account program called "SAVE TO WIN" which is for every 25$ you put in that  month it earns you one entry in the "big $50 cash prize" at the end of every month. I HAVE ALREADY WON ONCE, talk about quick cash! -Be sure to check with your own personal bank/credit union and see what they have to offer- 

GOOD NEWS: in January when it is time to pay off my Christmas debt, I will have some emergency cash saved up! It's like my own little Christmas club idea.

This is an awesome idea that I'm am glad I found. It is working out well for me, and I think just to stay in the drawing each month I may keep continuing to put $25 in each week instead of decreasing by $1 still. Which means Ill have to update you at the end of the year for the TOTAL amount that I saved!

Also, I have other money saving ideas that I'm wanting to try here.
If you beat me to any of them or have tried any of your own, let me know how they are :)

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