I have done something like this for years.I set an amount that I want for Christmas and then divide it by 365,and put the amount away every day.It runs from Nov-Nov,so I have the money for Dec. I never worry about Christmas because the money is there.
I think for the first 10 weeks, I'll transfer $10. $1, $2, $3 seem like too little. That'll just give me more in the end so to speak. I did my first transfer to my savings account today for this week. Yay! Can't wait to have a cushy amount of money set aside.
I seen this elsewhere on the net and printed it off. We are definitely going to do it. I'm going to see if dd wants to do it and I plan on taking it to our church to see if others are willing to give it a try. It's a great way to save.
I think this would be great to start in October or November, though I'm not against saving anytime of the year.
This would give me the final payoff just before the holiday seasons and I can go bigger on Thanksgiving. It also then lets the smaller increments (weeks 1-8) be saved during November and December.
I'm doing this and challenged my Facebook friends. I also made an Excel spreadsheet to help track my progress and total should I decide to put more or less in any given week. I'm starting backwards though with $52 being my first deposit.
Wow, I like this idea too! So easy and it shows how just a little bit each week adds up at the end of the year! It's a perfect way to start an Emergency Fund in my eyes anyways
Was going to add my $2 today and I forgot and since I am already in bed and really don't feel like getting up with this headache, I will add it to my $1 tomorrow. Like FN, I wish I could go backwards but I too am plum out of money! :laugh:
Added my $2 for this week. I am going to change things up a little though. I am going to add the 52 weeks to my siggy and then pluck money in the weeks when I have extra cash say from groceries or something. For example - next week if I have an extra $52 floating around, I will put that money in the envelope and write off week 52. This way when it gets closer to Christmas and money is tighter, I might have to only put in $10 or $5.
What a great way to slide right back in to FV! This will be interesting since neither DH nor I have received a paycheck for 6 months - thank goodness we got SS rolling. So to make this work for us, my savings is going to be $1 daily. Plus I am going to have it be by automatic deduction - the weak way out I know, but that is the only way that I know will work!
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