Time to Think $$$

christmas-moneyWe’re still getting our routine established for 2014 and Thursdays are my day!  I’ve planned my first Thursday post each month to be music and my second Thursday post to be about crafts, DIY, or home-made gift ideas.  This week, my third Thursday post, will be about money!   That’s right, money.  I might discuss how to get the most for your money.  Maybe it will be something about how to use your money? It could just be more hints on saving your money and planning for the holidays.  The Yule Log has had many posts about saving for the holidays and how to do it in a clever or fun way. Look back at one of our earliest posts from 2012- START NOW!  We’ve been thinking of ways to save since our beginning.   This week that’s exactly what I have for you another fun way to save.

52weekchallenge-lgToday’s idea you may have seen making the rounds on social media. It’s called the 52 week challenge.  The basic premise of the challenge is to set aside a specific amount of money EVERY week.  By taking the challenge you have almost $1,400 at the end of the year.  The popular version out there has you start the first week with putting aside $1.  The second week you put in $2, and so on through the end of the year.  This seems like a fun way to save.  Might be super fun for a family or a young couple to work in together.  I’m imagining a lot of excitement the first couple months as you put away just $5 or $10.  The struggle would be when you get to November and are putting away $45 or more a week.  Even the hardiest saver might find this to be a challenge and that fun-loving young couple will have moved on to new monetary pursuits.

52 week reverseHere’s the twist on the challenge that I support- reverse it!  Start the first week by putting away $52.  Then every week after you save a dollar less.  This means when you get to November you only have to sacrifice $5-$8 a week.  Anyone can do that!  You still end up with the same total at the end  but the “sacrifice” each week is not as high.  You might even decide to put in more that the required amount each week.  I’m going to try it as a new thing for 2014.  This saving coupled with my Christmas account and my $5 jar- I’ll be set for the whole holiday season!

 

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