Wednesday, June 19, 2013

Weekly Savings Challenge

**Please note: this was written up and hiding in my drafts for a couple weeks (obvi) so it should all be in past tense but hey, I'm working on it ok!**


58. Create an account for future house projects and add $400 to the account


I'm up to my shenanigans again ladies and gents. So along with pulling money out of my normal paychecks, scouring Swagbucks for gift cards and couponing, and saving all my five dollar bills I've found something new I've been doing. 


Well, I've started it and it's got a fairly big chunk of change in it thus far. I've gone about saving for this specific savings account in two ways.


#1- I have an automatic deposit set up to deposit $50 a month automatically. I do this with my other savings account but I have them staggered so it'll be deposited on the 1st and the 15th. I get paid on those days so it works great, I deposit my check and it's automatically taken so I don't even miss it. 



#2- It's the 52 week savings plan and I started it in January, I took a screen shot to show you where I'm at right now. I actually deposited next week's amount only because I'm lazy and I don't do the once a week deposit but instead I rack up a couple weeks and transfer it all at once. I keep track via a spreadsheet I've made that let's me know where I'm at and which weeks I've deposited so that is a major helper. We're at week 20 or 52, almost halfway through the year and I've kept up thus far. But, I know when the deposit amounts get larger I will end up depositing more often just to make me feel like I'm doing better than I really am.


If you want to get technical, you could deposit $26.67 a week for 52 weeks and get the same amount. Eh, I'm still just gonna stick with this program to see how far or if I can complete it. Wish me luck!!

So, what ways are you saving money? Any fun ways? And once you save up all that money, what are you going to do with it? I'm planning on spending it on my 5k runs and my goal is to someday (soon?) go and run at the Disney Princess Half Marathon. I'm thinking that $1,387 I saved up over the year will put a great damper on paying for that dream right!? 

4 comments:

  1. Disney Half! :) yay!!!

    I am awful at saving money...I need a better savings plan! I need a better financial plan in general...just haven't found one that works for me.

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  2. OMFG...I started that 52 week thing to but ours is for a cruise! How odd is that we are both doing this!

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  3. I need to start doing things like this!

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  4. I have two savings accounts that I deposit a combined total of $300 a month into. One is very liquid, which I use to pad my checkbook if we have a lean week. The other is strictly to be used to pay the car taxes every year. Anything leftover goes towards vacation. This works best in theory, as we've had a couple of really lean months and that savings account has dwindled.

    We also have a credit union account that I dumped a bit of an inheritance into a year or so ago - and that money is dogeared for our new roof. Or, at least, part of a new roof.

    And... we save all of our loose change in a jar and Mike rolls it out every couple of days. We start saving in September and the money goes towards the following years' vacation (which we take the 1st week of September). So far we've saved up over $300!

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