Business & Finance 52 Week Saving Challenge

[Gasometer]

Anyone done this or know of anyone who has done this right through to the 52 week?

Some have suggested doing it in reverse to get away from the Xmas-NYear stress.

Over to you BF's...yeh or nah?

 

[TheFreshBanana]

Is it really that hard to save that much money?

 

[Gasometer]

Is it really that hard to save that much money?

Of course not, when you live the life I do.

 

[Silent Alarm]

You should tell girls you're doing this. I bet they'll love it

 

[CatMarie]

Doing it in reverse would be an idea, I think , as you have suggested some do, Gasometer . Would be easier to save $52 this week , than next December/ Jan ?

 

[Messenger]

Or you could put away $26.50 every week and get the same result.

 

[Gasometer]

You should tell girls you're doing this. I bet they'll love it

Mrs G thinks its a goer...if she counts as a girl.

I reckon I would be thinking GAGF around the middle of Feb.

 

[Bunk Moreland]

End of every day I dump all my coins and $5 notes in a tin.

Fills up probably about once a year. Tends to be around $1300.

It's not a bad way to save that amount.

 

[Gasometer]

What about putting a '0' at the end of $1.

Then by Dec you are putting away $520 for that last week.

 

[Messenger]

What about putting a '0' at the end of $1.

Then by Dec you are putting away $520 for that last week.

Well, that's when it gets hairy. You may be a billionaire playboy but us working stiffs can't always find $520 at Christmas. Tiny Tim needs to eat!

 

[little graham]

 

[Hamingja]

Who needs a saving challenge when you have chrisco

 

[Footypie32]

End of every day I dump all my coins and $5 notes in a tin.

Fills up probably about once a year. Tends to be around $1300.

It's not a bad way to save that amount.

I do a similar thing, though not with notes. In 2013 I scored around $230 and last year about $260 odd. Was a nice bit of pocket money at the end of the year.

 

[Caesar]

Anyone done this or know of anyone who has done this right through to the 52 week?

Some have suggested doing it in reverse to get away from the Xmas-NYear stress.

I have done something similar. Doing it in reverse kind of defeats the purpose, which is to slowly adjust your week-to-week spending habits by ratcheting up your savings in barely-noticeable increments.

It's less about the net amount you have saved by the end of the first year, and more about training yourself to live within a smaller budget.

End of every day I dump all my coins and $5 notes in a tin.

Fills up probably about once a year. Tends to be around $1300.

It's not a bad way to save that amount.

I'd be careful about doing that. Change jars are the first thing that burglars go for, and most H&C insurance policies only let you claim a very small quantity of cash.

 

[JuddsABlue]

Or you could put away $26.50 every week and get the same result.

but dude what if you put away $27.50 a week then end up with an extra $52!

 

[Messenger]

but dude what if you put away $27.50 a week then end up with an extra $52!

Then round it up to an even $30.

 

[JuddsABlue]

Then round it up to an even $30.

think big mate, why not $35

 

[Ahern2Boof]

I might try this when I'm not living paycheck to paycheck.

 

[JuddsABlue]

I might try this when I'm not living paycheck to paycheck.

i think its designed for those living paycheck to paycheck

when you're not living paycheck to paycheck, you're not worried about saving $1 for a week and $2 the next

 

[iluvparis]

Challenge would be more exciting if it was the money you find on the street challlenge.

 

[Scotland]

Doing it in reverse would be an idea, I think , as you have suggested some do, Gasometer . Would be easier to save $52 this week , than next December/ Jan ?

Chrisco would prefer you put away a fixed amount each week over the course of the year. They have a range of products available if you do.

 

[stmookeyj]

My challenge is basically transferring odd amounts from account to account. For example, if I have $2746.80 in my account, then at then end of a night (not every night necessarily) I transfer 6.80 from the main account into the other. Since late October I now have saved just over $250 this way. The purpose is twofold....a financial safety net should things go pear shaped, or that money could be used to fund big trips (or even a GF ticket if the improbably happens!)

 

[Hawks1523]

End of every day I dump all my coins and $5 notes in a tin.

Fills up probably about once a year. Tends to be around $1300.

It's not a bad way to save that amount.

Yeah I do this. Have a pretty full tin atm

 

[Stinger...]

Missus did this last year. She was quite pleased with her efforts. I happily rounded it to $1500 and it's probably going to fund small holiday for us mid year.

She's doing it this year.

We also put silver coins into a tin and any spare goodies into another as a bonus.

 

[dales.girl38]

My challenge is basically transferring odd amounts from account to account. For example, if I have $2746.80 in my account, then at then end of a night (not every night necessarily) I transfer 6.80 from the main account into the other. Since late October I now have saved just over $250 this way. The purpose is twofold....a financial safety net should things go pear shaped, or that money could be used to fund big trips (or even a GF ticket if the improbably happens!)

Ha, I do this as well, although more on a weekly basis or so.

One year I saved every $5 note I had, and then used it to buy Christmas presents. I had a few hundred dollars and I had some left over after buying everything I needed. It worked quite well but I haven't done it since, for some reason.