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The 52 Week Savings Plan

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The 52 Week Savings Plan

Postby thesurvivalmom » Mon Feb 10, 2014 11:37 am

Have you heard about the 52 Week Savings Plan? I didn't invent it but it's such a smart idea that I had to share the general concept and a chart on my blog.

On a calendar, every week is numbered. Week #1 begins on January 1, Week #2 begins January 8, and so on. Each week you save the number of dollars that corresponds with that week number.

Save a dollar by the time Week #1 is finished. Save two dollars during Week #2, etc.

By the time you get to the end of the year, Week #52, you should have nearly $1700 saved.

You can read the full article http://thesurvivalmom.com/2013/01/05/give-this-super-easy-52-week-savings-plan-a-try-and-have-an-extra-1378-by-the-end-of-the-year/for more details.

So, have you started the 52 Week Savings Plan? How much have you saved? Is it in actual cash or in a separate bank savings account?

What do you plan to do with your savings by the end of the year?

Is it going to be a challenge later in the year when the dollar amount goes up to $25, $30, and more for the remaining week? What is your plan for meeting those weekly savings goals?

I'd love to hear how you're doing!

Consider this thread to be your 52 Week Savings Plan support group!



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Re: The 52 Week Savings Plan

Postby ohiosusan89 » Mon Feb 10, 2014 12:23 pm

We were going to do it but it kind of interferes with our Dave Ramsey get out of debt plan so it's a "no-go" for us this year. I have some friends that are doing it backwards and saving the bigger amounts first as they have more wiggle room to save it now than in December.
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Re: The 52 Week Savings Plan

Postby thesurvivalmom » Mon Feb 10, 2014 1:39 pm

Doesn't Dave Ramsey also want you to have $1000 in savings? It seems to me that was part of the plan -- the debt snowball and the $1000. It's been a while since I read his book, though.
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Re: The 52 Week Savings Plan

Postby ohiosusan89 » Mon Feb 10, 2014 1:51 pm

Yes, he does. We had our $1000 baby emergency fund and then we had to purchase a new water heater last month. We are in the process of building it back up and then we can get back to putting more on our debt. Unfortunately my washer and dryer are 10 years old and my washer is making some funny noises BUT it still works. lol I'm sure that will be next on the replacement list.
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Re: The 52 Week Savings Plan

Postby donba » Mon Feb 10, 2014 6:25 pm

There are some really good books about repairing house hold appliances. Most of them are older books, but still have good info. in them. Our dryer started making wearied noises it was a roller, cost under $ 5.00 and we got 3 more years out of it. check the local library.......
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Re: The 52 Week Savings Plan

Postby Bubba J » Mon Feb 10, 2014 7:58 pm

That's a good chart. Putting away money on a weekly basis in such small amounts should be doable for many people. It's a lot easier than trying to put away $500 and realize you forgot other expenses and have to withdraw some of that the next day.
“Men go to far greater lengths to avoid what they fear than to obtain what they desire.”
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Re: The 52 Week Savings Plan

Postby ohiosusan89 » Mon Feb 10, 2014 8:21 pm

donba wrote:There are some really good books about repairing house hold appliances. Most of them are older books, but still have good info. in them. Our dryer started making wearied noises it was a roller, cost under $ 5.00 and we got 3 more years out of it. check the local library.......

Thanks for the idea.
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Re: The 52 Week Savings Plan

Postby Buzz » Tue Feb 11, 2014 6:19 am

In 1994 I went through a divorce. As a result I was wiped out financially. I only had a "secret" savings system that my ex was not aware of. Truthfully it was pitifully small, maybe less than a hundred dollar. She had zero'd out our checking and maxed out all the plastic. But she got all of the good furniture (I got all the bills though!) I had a cheap gun safe for all my guns and I had cut a coin slot in the top and put a jar inside under it. Every day I would put whatever change I had accumulated in the safe. The money piled up surprisingly fast. I would roll it and get a 100 dollar bill when I had accumulated that much. That way I was less likely to blow it. I would use the money to buy things I needed but didn't have the cash to buy. Pretty soon I bought myself my "divorce gun" a Ruger 10-22 in stainless steel that I still have. In short order I was able to buy a new TV (she got the one we had) with no impact on my checking account.

Over the years I have saved thousands. Now I keep an emergency stash of one thousand dollars in 100 dollar bills, a thousand in $50's, $20's, $10's and $5's in my new heavy duty gun safe. (I use the old one for ammo storage now) The rest I keep in a savings account in a separate bank from my checking account. In a shtf situation I can always buy 5 thousand worth of supplies without even going to the bank. A comfortable feeling! And I LOVE counting and rolling my change! MINE ALL MINE! LOL :floppytongue:

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