When I moved to Russia from South Africa late last year, I had six ginormous boxes of clothing.
However, after a few days in Russia, I found myself shopping despite my excessive wardrobe. Apparently (according to me), I had nothing to wear.
If anything, I’ve found that we’ve become the excessive culture.
We have far more than we need; we want what we don’t have and end up going broke on the latest fad, trend or must have item, but a year later there it is sitting in your closet, unworn.
I say we, because I know I’m not alone in this ruthless cycle of “want” and “got to have”.
Let’s flip it up this year, and not give in to being slaves of fads & fashion.
Don’t go broke for a new pair of “whatever”.
Rather go broke for a savings challenge.
Now that’s an ass kicking reason to go broke!
Your savings account is the ultimate must have accessory of 2017!
Yes, its simpler said than done.
Having a savings plan is important; so read on, I’ve made a 52-week money challenge printable plan for you.
My blog is finally useful!
There are several ways to save money, in this blog post I suggest two that are simple and fun – an easy way beginners money saving challenge.
I found the following methods the easiest and surprisingly the most fun:
Savings Challenge One: 52 Week Savings Plan
Once your pay cheque is in, make a budget and stick to it.
Remember to get rid of any debt you have as quickly as possible and work out your budget to suit the below plan.
Make the payment to yourself into a savings account; let’s name this savings account Dorothy.
Some useless background information on why I call my savings account Dorothy:
I want another dog; I have three already, and apparently that’s excessive too. If I had a fourth dog, I would have named it Dorothy.
Summary: I’m a crazy dog lady.
Add Dorothy as a beneficiary on your cheque account and forget about it.
Don’t get a card for Dorothy, don’t remember Dorothy’s account number, make it difficult for you to get access to Dorothy, all whilst paying Dorothy every month. Pretend that Dorothy doesn’t exist, so you don’t fall prey to using Dorothy.
Just like the dog you never had.
This is how the 52 week savings challenge works:
For every week of the year, you save an amount corresponding to the number of that week. For example: Week 1 = $1, week 2 = $2 etc.
Save according to your financial situation now. If you have extra cash to save, add an additional zero for each week. For example Week 1 = $10 or week 1 = $100 etc.
I found its easier to add up the amounts for each month and put that monthly amount away, instead of every week, so I have included both the weekly savings plan and monthly amounts on the printable.
Download editable version here: 52 Week Savings Plan Spreadsheet
This 52 week money saving plan is easily editable to suit your currency and the amount you would like to save.
Savings Challenge Two: Save that dollar bill
At the end of every day, empty out your wallet and choose a common bank note you normally end up with. Now, never spend that dollar bill again. Rather get a huge savings jar and each time you end up with that bill, keep it aside to put it into your savings jar.
The rumor on Pinterest is that apparently a lady saved five-dollar bills for two years and she collected twelve thousand dollars!
Spend less, save more and when you do spend, spend on quality items because you deserve only the best. Cheaper items are not a good buy over time, watch this video taken from Opposing Views : WATCH VIDEO
Having a financial planner is also important in making sure you are saving adequately for short and long-term goals as well as planning for your kids future and you and your spouse’s retirement.
If you reside in South Africa, I highly recommend Shivanie Govender:
Mobile: 082 776 3355
Once you have completed your 52 week savings challenge and tallied your dollar jar, be sure to tweet or tag me, I would love to know your victory stories at the end of 2017.
Have a splendid 2017!
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Pot Of Gold Blog By Sheena Deepnarain