Category Archives: Finance

Money Challenge for 2013 – Can you save over $1,300??

Have you ever wondered how to save for that vacation each year? Done the calculations and tried to figure out what to do so that you have the funds for Christmas shopping in December? I have.  I now have a few things I do to make sure that I have some extra funds at Christmas time and for other events through the year.

This year, I came across a chart that showed how you can save over $1,300 in one year.  The premise is that you start saving one dollar in the first week of the year.  You then increase your savings by one dollar each week, so that by the last week of the year you are saving $52.  Seems relatively easy and certainly following the holidays, starting at a dollar isn’t difficult.

I have opened a new @SuperStarSaver account with ING and I am going to give this a try.  I certainly would welcome almost $1,400 (when interest is added) at the start of January 2014.  Worst case scenario is that I end up with somewhere between zero and $1,400 saved, even if the savings get, “too heavy” to keep up as November and December creep up.

This chart (which I found on the internet – I am not sure of the source as none was given), shows the math and was what sold me on the idea.  It is easy to follow and seems like it is a manageable program.  I am sure that it will get tough when it gets up to $30-50 per week going to savings, but really that is only one dinner or one night out in those weeks.  That vacation at the end of it all would be worth it, I think.MoneyChallenge

If you would like to join me on this journey, I encourage you to jump on board.  I will be talking about it as the year progresses on social media (using the hashtag #Saver13 – which covers the total saved and the year 2013).  If you don’t already have an ING account, check them out.  If you want to open an account, feel free to use my “Orange Key” which helps both you and I get a bonus.  You can connect with ING here and my Orange Key is – 15735432S1.  What an excellent addition to our savings for the year.

I welcome your comments and thoughts on this idea and I look forward to sharing my progress with you as 2013 progresses!!