Photo courtesy of hoveringcat
Saving has never been my strong suit. Now spending on the other hand I am very good at. I should have a medal… and a cash prize… so I can go shopping.
But one of my goals for 2014 is to get serious about saving and curb spending. Although Andrew and I have joint accounts we choose to keep personal accounts as well. That way if one of us wants to splurge on a “want,” rather than a “need,” we’re not spending the other person’s money. Our personal accounts differ quite considerably. Long story short Andrew has money in his and I don’t. Well… at least never for long.
So I wanted to find ways to make it “fun” to save this year. 2 days into the New Year a co-worker told me he was doing the 52 week savings plan. On a weekly basis you put the dollar amount that corresponds with the number of week it is in the year into a savings account. So for example, I started two weeks ago and put $1 into a savings account. Last week I contributed $2. And this week I’ll add $3. Week after week the savings grows exponentially until the last week of the year when you put $52 into the savings account. At the end of it all you save $1,378.oo.
Obviously this savings plan seems ridiculously easy at first, but I know it will get hard once I hit November and December. Still its a plan I am willing to commit to. For one I like the idea of seeing how quickly the dollars add up. And two, my co-worker is doing it too, so I know we can keep each other accountable.
Do you have a savings plan for 2014?