I must first admit I saw this originally on Pinterest. I am a secret Pinterest lover. I have several hundreds likes and I refuse to post unless I actually tried the pin. How can I ever tell people “Hey! Try this! It’s sinfully delicious!” if I have never tried it. Perhaps I think too much about this but there is a method to my madness. I can’t ever tell you to try this miracle secret cleaner on your house only to find out it stains your porous granite counter tops. No no, not me. (However I’m told I do think too much about it. LOL)
Anywho I saw this sometime last year and I figured I would try this in 2014. I honestly forgot about it until a co-worker emailed challenging us to save money for 2014. She attached her version of two plans, one which looked VERY familiar:
And the other which was the same concept but you paid into the savings plan 10x the amount. So week one you put in $10 and week 52 you put in $520 resulting in $13,780 big ones! While it would DEFINITELY be nice to be able to save almost $14K a year it really isn’t feasible for most. For the month of December alone you would need to deposit $2020! Most of us don’t have that kind of extra money laying around and especially during Christmas time. So plan A it is for me!
Now the way I look at it you can do this a few ways. One way is obviously the original way listed above. Another that my lovely girlfriend came up with during this discussion would be doing it backwards. So on Week 1 you put in $52 and week 52 you put in $1. Her reason being that in December it could still be tough for some to come up with an extra $202 during Christmas time. So applying her theory for the month of December (doing it backwards) you need only deposit $10. Brilliant! Then I got to thinking some more and I realized well for some people your week to week may not be all that consistent. So another alternative could be that you just print the 52 Week Challenge out and every week commit to depositing one of those amounts. So maybe this week you can afford more than the $1 deposit but next week you can only do the $2. Then maybe you should pick one of the larger amounts for this week and next week maybe just the $2 you are supposed to. With this theory you can skip around the deposit amounts and scratch them out one by one but by week 52 you should only have one week’s deposit left to scratch off. However you decide to skin this cat you should end up with $1378 in a savings account or for the few very fortunate people $13,780. LOL
So I’m taking this challenge and I challenge you. Save. It pays to try it out…..$1378 to be exact. 🙂 And really who CAN’T use that???