I’d be lying if I said that money doesn’t stress me out. I definitely grew up in a household where the value of a dollar was greatly reinforced. While it was kind of annoying growing up (sorry Dad….), I now know how important those lessons were (thanks Dad….).
Living on my own, I’ve been putting the things I was taught growing up into practice. (Although, as a blogger, the concept of buying new clothes to make money is still a little bit unsettling…) I definitely don’t have a problem when it comes to establishing and sticking to a budget, but I loved this idea too much that I just had to share. I spent an hour or so budgeting money for Christmas presents for my friends and family (here’s a gift guide to get you started!) and I wish that I had a magic wallet where the money for presents just existed, you know? This method is the PERFECT way to make sure you have cash to spend at the end of the year for gifts plus plenty left over for actual savings. Or, you know, save all of it. Or… well, I think you can find a way to make it work in the best way for you and your needs and wants.
It’s actually pretty simple and it’s really awesome to see how it adds up. I think this is the perfect method for people who generally struggle to save or saving queens who maybe wants to save up for something special.
Here’s how it works:
It’s based on fifty two weeks. Every week, you save the dollar amount that corresponds with the week number. On week one, for example, you save $1. On week 32, you save $32. You can either put cash in a jar (save up loose change and bills throughout the week) or set up a special savings account online and transfer the money from checking to savings every week. Compounded, you’ll end up saving $1,378! ($1+$2+$3…. and so on.)
I put together this little graphic so it would be easier to keep track of… plus added the little goal down there so you’re reminded why you’re siphoning off the cash every week. #motivation.
Have you ever tried this method before? What would you save up for?