TRYING TO SAVE MONEY? NEED HELP UNDERSTANDING HOW?
This is a really great chart that I saw on NorthShoreMama.Com and it looks quite simple to follow. Basically, you put in a certain amount every week. The number on the left corresponds to the week of the year it is. So that week, you deposit that amount of money.
I.E. Week 1 you’d put in $1 ; Week 26 you’d put in $26 and by the end of 2014 you should have saved $1,378.00.
All you really need is a savings account! I’m going to open a new one for this. And probably find some fabulous award for the beginning of 2015 if I manage to save.
ALSO, remember that you can start saving and if an emergency comes up, you’ll have a bit of money saved. So if you get to week 26 and you need to fix your brakes or something, you’ll have $351.00 saved up to help with that. I think it’s a great contingency plan just in case!
She has a lot of great tips on the post which is again at THIS link. One of the best being, these are NorthShoreMama’s words, not mine:
4- If you line these deposits up in 4 week columns, it averages out to $106.00 per 4 week period, or $26.50 per week or $53 per two week pay period. However you want to do it, is just fine! JUST DO IT!