Wednesday, January 11, 2017

Money Saving Challenge

Often, we include in our new year resolutions list is to save money.  But at the end of each year, we would not be able to tick this off as an accomplishment because of lack of targets or lack of planning

So here's are some Money Saving Challenges that you could try depending on how much you could afford to save.

52-week challenge (Same Increments)
In the 52 week challenge, one is required to save an amount for 52 weeks in a year, starting with an amount and regularly adding the same amount the weeks following .  Start with maybe as little as Php 100 a week. And increase by another Php 100 in the following week and so forth.  At the end of the year, you will get  Php 137, 800.

Doing the challenge will be hard at the end of the year.  If you are earning less than 20,000Php a month, when you reach week 30 and beyond (Php 3000 @ week 30), will be much harder for you.  I suggest that you do the challenge backwards.  Since bonus and 13th month pay was given last year in December, you have more money that you could save for the 52 week challenge.

If your earning is less, you could start with Php 10 a week with 10 increments per week.  You will still end up with Php 13780.

Here is a simple printable of the 52 week Money Saving Challenge you can use.

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