If you are a saver, like me, you may have heard about the 52 Week Savings Challenge that has been making the rounds of the internet in the last year. I did not participate last year. But this year I am!!
The link above explains the challenge in detail, but by the end of the year if you follow the plan you will have saved $1378. I know we could be saving more, thus the reason I am participating and adding this as another way to save during the year. I will still be on the lookout for small (or large) amounts of money that don't come from income, which I call snowflakes, and be saving those to help pay down our mortgage.
I have already started. Some of you may not start until January. I have $67 saved so far. That does seems like quite a bit for the beginning doesn't it? Well, I'm tweaking the challenge to work with how we get paid, which is twice monthly. I made an initial $10 deposit, since I had that much cash in my wallet earlier this month. That left me with $1,368 to save. Twice per month paydays, means 24 pay periods. Thus I will save $57 per pay period 24 times in the coming year to save that $1,368. One has already been completed, so really 23 left to go, and $1,311 left to save.
Interested in participating in the challenge? Click on that link above for a way to track your savings challenge for the year, or tweak it to make it work for you. Sometimes having a goal for savings and a way to track it is very first step in making it happen.