Here is a great savings plan that is very easy to stick with and can go a long way into helping you in the new year. It is very easy and I shall explain it here.
Starting the first week of the year deposit one dollar in a savings account (or even put it in a coffee can for all that it matters) now in the coming weeks add a dollar each week to that total. Meaning the second week of the year you put two dollars in, the third week three dollars. Ok, so after three weeks you will have six dollars. Vacation fund it is not. At the end of the year do you know how much you will have? $100? $300? $500? Actually you will have almost $1400! that may not be a new car, but having that little extra money could go a long way to taking the stress out of holiday shopping or pay for a vacation you deserve. There are a few little rules to observe. One, you cannot touch the money once you put it in. Also do not skip a week expecting to ‘make it up’ the next week. Stick to it, you will never have to put in more than $52 and that isn’t even until the last week. Two months in you will only be at $8. This also helps show the power of compound interest, which is something I would recommend to anyone wanting to live an amazing life! So let us start this week! We could all be on vacation together this time next year! In that case, remember to save some rum and an island girl for me!