Are you looking for a simple way to tuck away some cash? Maybe you want to save up for a trip, or a larger purchase, or even plan ahead for Christmas! This year, try adopting a “save by the week” strategy.

How does save by the week work? It’s super simple. Each year there are 52 weeks. You simply tuck away the same dollar amount each week for the corresponding week. So, for instance, week 1 is one dollar, week 2 is two dollars, week 3 is three dollars, etc etc etc. If you can stick with it, by the end of the year you will have saved $1378.00. Granted, once you get into the higher weeks, it can be a bit more challenging, but you could get creative with the saving: week 52 on a pay week, then week 1 on a non-pay week. Or make a deposit on your pay week, to include two weeks! You could just space everything out evenly as well… in which case your bi-weekly deposit would come to $53.00.

I’m attempting this savings plan for this year, and using the savings for Christmas. I’m one of those early bird shoppers, so because of this I’m doing my savings plan in reverse, and starting with the higher numbers first. At the time of publishing this, Week’s 1 – 4 have already passed, and week 5 is tomorrow. So for those of you who want to try this savings plan in the right order, tomorrow you only need to put $5.00 in savings. For those who would like to give it a shot in reverse, tomorrow your deposit will be $250.00.

I’d love to hear from anyone who is going to give this a try, and how it works for you! Also, if you have any other suggestions I’d love to hear those too!

Source Url: http://gobelmont.ca/save-by-the-week/