Estimated studying time: 5 minutes
The 52 Weeks Financial savings Problem might help you lower your expenses – even what you’ll be able to! Canadian Finances Binder reveals you the way.
CBB associates, I all the time like to begin the brand new 12 months with a problem as a result of that is after we are motivated.
Usually, it’s additionally a time of despair for people who find themselves in debt or spend an excessive amount of over the vacations.
Apart from organising a budgeting system, I really feel a 52 Weeks Financial savings Problem will assist create a behavior.
How Does The 52 Weeks Financial savings Problem Work?
The excellent news is the 52 Weeks Financial savings Plan might be as aggressive or as little as you’d like.
There aren’t any set guidelines for a financial savings plan of this magnitude since you are in cost.
The secret is to be constant and genuine to your self with out dipping into the cash as a result of as soon as it’s dropped, it’s locked in for the 12 months.
- Get a glass jar with a lid to see your financial savings via.
- Print out the 52 Weeks Financial savings Problem Kind Here.
- Fill out the shape by writing your Financial savings Objective. Add one thing right here, even an estimate.
- Add $1, $2, $5, or $10 to the jar every week and pencil it in on the chart. Every column has 50 circles, so you’ll be able to determine how and when to save lots of.
- If you happen to fill in a whole part with $1, and that’s all you’ll be able to afford, pencil within the quantity below one of many different columns so you’ll be able to maintain monitor of what you deposit in your jar.
- One other thought is to paint code every greenback quantity with pencil crayons. This might make it simpler so as to add the ultimate numbers on the finish of the 12 months. Hold a colour chart within the Notes part for reference.
- On the finish of 2024, whoever joins me will add every part and see how a lot was saved.
- We will additionally focus on what you’ll do along with your new financial savings stash at the moment.
How A lot Can You Save With The 52 Weeks Financial savings Problem?
It is a nice query; the reply relies on how a lot cash it can save you.
For instance, saving $1 per week for 52 weeks will save $52.
Double that greenback to 2 {dollars}; you’ll save $104 in 52 weeks.
Maybe you’ve got a financial savings objective of $5000 to construct an emergency financial savings fund for 2024.
You’d have to save lots of $96.15 weekly for 52 weeks to save lots of $5000.
Divide no matter quantity you need to save by 52; the reply is how a lot it’s essential to save weekly.
Simply since you solely save $52 for the 12 months, that’s an enormous step in case you’ve by no means had any financial savings.
The lesson for this 52 weeks problem is extra about coaching your self to save lots of than how a lot you save.
You see, as soon as we get right into a motivated state, it’s simpler to attempt for greater objectives.
Imagine you are able to do it, and you’ll.
Non-compulsory Financial savings Plan Concepts
There are two different non-obligatory financial savings plan concepts for this problem utilizing one denomination.
For instance, you could possibly go for a $1 weekly financial savings plan, a bi-weekly financial savings plan doubling the quantity, or a month-to-month financial savings plan.
Not everyone seems to be paid weekly, so think about what is perhaps the best choice to your price range.
Issues To Save Cash For
The checklist is limitless every time I do one among these financial savings challenges and get requested what we’re saving for.
Irrespective of who you might be, all of us must pay for one thing, and financial savings will come in useful.
Under are some examples of what you could possibly put your 52 weeks financial savings problem cash in direction of.
You get the concept; no matter you select is private because it’s your cash. Simply make it depend.
Construct Your Financial savings Power With Confidence
I hope to see a few of you remark under that you’ll help this 52 weeks financial savings problem with me.
Contact me by way of electronic mail or remark under in case you’re in!
For many who full it and report back to me month-to-month by way of electronic mail for the 12 months, your title will go in a draw for a present card in December 2024.
Mr. CBB
Dialogue: Why would you need to take part in my 52 Weeks Financial savings Problem?
Please go away me your feedback under.