I was browsing the world wide web the other day and came across this simple plan for saving money. I liked it, and it prompted me to explore other variations of the same idea. Though their original intent was to increase your savings account, I like the idea of using the idea to plan your “stash of cash” for emergencies as well as padding your bank account for a rainy day.
In my exploration I read the reviews of each of these plans and found a common theme among it’s critics. That being not having that kind of expendable income to store away. So let’s get real here. Recognize that this is a framework and should be used as such. How many times have I said that preparedness is individual and should be customized for every persons needs or ability. Like most of you, I wish I had the financial world at my fingertips, but reality says I pay a mortgage each month. So remember…small victories means progress.
If all you can do is put a rinsed out coke bottle on your dresser and let it be the home to any spare change you get through the week, let that be where you start. Make a plan to once a month take it to your bank and have it converted into bills. If your plan is to every time you go to the grocery store to get 10.00 cash back and slip that into an envelope in your dresser drawer…that works too. Bigger still, if your employer accommodates (mine did years back) to have a certain amount of your paycheck go into a separate account that you’ve set up for savings, that great! If the plans I’ve attached here fit the bill…see what I did there…do them. The point is to just do something. Start somewhere. Find success somehow. A little or a lot…it’s still a positive step in the right direction and is getting you somewhere.
Plan 1: 52 Week Saving Plan. I liked this plan because it started off with small dollar amounts. Literally it starts out your first week saving a buck. It gradually goes up, in fact, the amount you save is exactly the week it is. For example on week 11, you save $11.oo, week 45, you save $45.00. It’s easy to remember and simple to do. I think it also teaches you over time how to save gradually each week. I like it…below is the link.
DOWNLOAD 52 Week Saving Plan HERE
Plan 2: $500 Simple Saving Plan. This plan is 20 week plan that gives you $500 in a hurry. This would be the perfect option for your at home cash stash for emergencies. Certainly you could adjust it for the dollar amount that you are looking to stash. However, I liked the format, so I included it.
DOWNLOAD $500 Simple Saving Plan HERE
Plan 3: 52 Week Money Saving Challenge by heandsheeatclean.com. I found this plan on this website here and loved it! It requires that you put away more money each week, but at the end you have more money in the bank. If you can do it, and have the disposable income to stash away, it’s a great plan. I also loved that they have several other plans on there too! Bonus! I like the idea that if you did this for several years…that you could gradually buffer your savings account in the case of job loss or other financial emergency.
Link to $52 Week Money Saving Challenge by handsheeatclean.com HERE