Saving money can be a challenge. Just paying off your normal bills gets in the way of stashing money away for the future, but there are some easy, and painless, ways to accomplish this. If you start now, you will be rather proud of yourself at the end of the year.
The holidays can prove to be rather draining on your bank account. If you follow this plan, you will have enough money to cover those bills or continue building up your savings account.
The 365 Day Money Challenge is going viral for a great reason. It’s simple, and it will leave you with an extra $1,465 that you probably didn’t even have trouble saving. You just put a small amount of money away every day.
On the first day of the week, you put $1 away. The next day, it’s $2. On the third day of the week, put away $3 in your piggy bank. You reset it back to $1 every week. This adds up to $28 a week. If you don’t want to do this daily, just put $28 a week, or $118 a month, into your stash. By the end of the year, you will have just shy of $1,500, and you likely didn’t even miss spending it.
If that’s a bit too high maintenance for you, there is another plan called the 52 Week Challenge. You put $1 away the first week. Then you add $1 to your savings amount each week. The second week, it’s $2, and the third it’s $3. For the last week of the year, you put $52 into your savings account. Within a year, you will have saved $1,378.
John Tesh helps explain the 52 Week Challenge in the video below.
Many of us can benefit from saving more money. Both of these plans appear to be rather painless. Most people can manage to save a few dollars a week.
Share this if you know someone who could benefit from using these savings plans.
Source: Unilad
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