Concurrent Savings Plans: 52 Weeks

I saw the most awesome savings plan on Facebook that was so doable {I thought}  it had all the elements that got me excited to save money.  The only thing missing was reality.  Don’t get me wrong I liked it but knew there was a better way to make it work for my family and maybe yours too.

The plan was to start the first week of January and put the dollar value in savings the week number it was.  For example: week 1 $1, week 2 $2…and so on and so on.  The problem with this is, life happens.  Something comes up and now you have to “dip” in the savings fund. That savings plan that; on the first week of January sounded like a solid plan; is now off the way side and exists no longer.

BUT what if you did two savings plans at the same time, you know; concurrently?  You could have a family vacation/wants savings fund and a “I can’t believe this just happened right now” savings fund.  By doing this you will keep your self out of debt.  That’s the goal.  NO DEBT!!!  Debt free and enjoying life. Here’s a recreation of that table with my addition of the 2nd account savings.  Feel free to download so you can get a visual of what is actually being put into your pocket!

52 week Savings Challenge x’s 2

In setting up our budget for the year I came across this awesome site that has great spreadsheet {I do love a good spreadsheet}.  I could have created or re-created an existing budget planner, but why re-invent the wheel when someone has already taken the time to do it for us?  I’m all about giving props where props are due and this site has done a great job!  Click Here to view & print one out.

Over the holiday I got the kids a savings bank/ATM.  They love it!  It’s a great tool for them to see what is in their account (at home) and what taking money out does to their bottom line.

Savings Bank

I’ll be checking in with you guys to see how you’re doing.  Make sure to sign up for our Newsletter or Subscribe to The Deal Fanatic by Email because throughout the year I’ll be doing cash giveaways to make this savings easier.  I think I feel one coming up soon :-)