Work life balance includes getting a handle on your financial health and getting ahead in the money game includes saving; therefore, download the 52 Week Savings Tracker Worksheet
There are many variations of this savings plan and the purpose of this is to have significant amount of money saved up by the end of week 52.
Below is a simple Step-by-Step on being a part of this fun challenge.
Make a commitment to take the challenge and understand the purpose.
Have a plan for sticking to this plan. How you ask? Stick to a consistent schedule. If you have decided this will be done every Thursday then plan for it by setting this up in your calendar. I will go as far as to say set a time as well.
Have a plan for where you will transfer the money you’re saving to. Have this be a tedious task to get the money out so that you’re not inclined to go through with the withdrawal. I suggest an online bank or one of the many banks that do not have branches or ATM’s easily available
Have a plan for the funds you’re saving. This could be to pay down debt; for end of year gift purchase (no credit card); for your emergency fund account (you need to have a minimum of $1,000 in emergency savings fund).
Sign up today with a friend or family member and challenge each other. Download the 52 Week Savings Tracker. Post this in an area where it is visible for you to see your progress. For example, post this in your bathroom you’re apt to see this everyday.
Can’t overemphasize the importance of saving. Check out this on the importance of saving.
Tweet about the first step you’ve taken today on this journey to financial freedom.
Till Next Time,