I saw this on Pinterest and thought it was just a great idea...and it really shows how little bits add up :) http://www.allthingsmw.com/52-week-money-challenge/

 I think I will have a look thank you...

I totally agree with this 52 week money challenge plan. I, myself have a hard time trying to save money. I always say that I want to, but I totally end up spending my savings. Seeing this new clever plan, allows me to look at the process of saving money at a totally different angle. I learned through the experiences of others who have a hard time saving and who actually took this challenge, that saving is totally possible. We just have to start small, take baby steps until we get used to the idea and regularly check our three credit reports to make keeping track of our savings much easier. I also make it a point to avoid making money mistakes. To know what mistakes are those, check out http://www.articlesbase.com/personal-finance-articles/top-reasons-why-you-fail-to-save-money-6265095.html

I think this is a great idea for someone who is looking to save some money but lacks the motivation to do it. It doesn't have to start on the first week of the year either. You can easily start right where you are.

This is also an easy way to start that emergency fund for those with tight incomes.

 

Love the idea...

I have money taken out of my check every pay period.  I never even miss it.  I have some that goes into a money market account and some into an ing Direct account - none of it immediately available to me.  I have one account for my city taxes, homeowners insurance and income taxes and the other account for me (working toward a emergency fund).

Having it taken out before I get it is the key that works for me.

Grannie Sue, Your system would work better for me too. Think I would falter on the other plan as the saving required each week increased. AM

So far I really like this 52 week plan.  I built in right into my budget as the first bill to pay out of each of DH's checks.  Of course we're only on week 8 so it hasn't been a chunk yet! LOL

We also have auto deposit into a seperate account from each of his checks.  That gets set aside for healthcare for us and emergency utility use when those bills are more than budgeted.

retired

I have decided to work on two different amounts this way. One is the rebuilding of an emergency fund and the other I am doing as a save to spend fund that I plan to draw from for Christmas and things needed next year.

I am liking this so far. It's easy to put aside just a few dollars.

I like this idea. I do already put some $$ back each month, or try very hard to. This looks like a good way for me to try to build up a little extra savings though...I did put the total for the first 8 weeks ($36) in to get it rolling, and will start adding weekly with week 9.