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52 week savings plan


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#1 LittleMissPink

Posted 05 January 2013 - 02:55 PM

http://www.facebook.com/photo.php?fbid=475...e=1&theater

Found this online today, seems pretty simple and Im going to give it a go!

Week 1 $1
Week 2 $2
Week 3 $3

etc etc

In the end you should have roughly $1378 in the account, plus interest if you use a high rate savings account!

#2 emnut

Posted 05 January 2013 - 03:04 PM

If I was doing it, I would go backwards to get higher interest (but then if doing that you may as well save the higher amount continually)

#3 ani1

Posted 05 January 2013 - 03:14 PM

Wow that's a great idea, thanks op original.gif

#4 HeartMyBoys

Posted 05 January 2013 - 04:53 PM

I saw that too. It is a great idea, and very achievable too

#5 ~J.E.S.S.I.C.A~

Posted 05 January 2013 - 05:11 PM

Definitely trying this!

Thanks OP original.gif

#6 mumtothreeboys

Posted 05 January 2013 - 05:23 PM

Will give this a go too.

#7 LittleListen

Posted 05 January 2013 - 05:52 PM

$26.50 a week will get you to the same principle amount and will earn you higher interest along the way.

#8 JECJEC

Posted 05 January 2013 - 06:01 PM

QUOTE (eyesabove @ 05/01/2013, 06:52 PM) <{POST_SNAPBACK}>
$26.50 a week will get you to the same principle amount and will earn you higher interest along the way.

Haha Thats what I told my brother when he showed me. : ) ....but if you are going to do it I agree with the pp start backwards with the $52.

#9 (feral)epg

Posted 05 January 2013 - 06:05 PM

I think the idea is to work upwards so you don't 'feel' the first few payments and give up.
If you can save $52 / week, why wouldn't you just keep it as $52 per week?

#10 Manda

Posted 08 January 2013 - 02:35 PM

yeah great for those who can afford to put away the high scale payments.

#11 Guest_Sunnycat_*

Posted 08 January 2013 - 11:35 PM

I'm going to do this too. I'm a crap saver and hopefully this will help get me started!

#12 monkeys mum

Posted 10 January 2013 - 01:45 AM

You would save a bit more since theres a calculation error in week 49.

I would try it but we are set to save $100 a week to put towards a bigger car.

Another way to help start saving is to transfer what is left in your account the day before pay day, even if its a dollar.

#13 DS1979

Posted 10 January 2013 - 07:09 AM

We brought one of those money tins that you need a can opener to open and every day my husband and I put $2 in the tin. It might not seem like much but at the end of the year we have $1460. Since having kids I have become a terrible saver so this method has worked really well for me as I don't miss the $2 and once it's in the tin it's out of sight, out of mind. Then when the tin gets full we bank it.






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