Monday, May 26, 2008

Another way of saving.......

One thing I have is a daily savings pot. Its a simple thing I do. I split the year into three, four month blocks. Every day for the first month I put 25 cents per day in the pot. In the second month I put 50 cents per day in the pot. In the third month I put 75 cents per day in the pot. In the fourth month I put $1 per day in the month.

I then start over again, for the next four months, and then again for the next four months. If you do that you will save the following:

January: $7.75
February: $14.50
March: $23.25
April: $30.00
May: $7.75
June: $15.00
July: $23.25
August: $30.00
September: $7.50
October: $15.50
November: $22.50
December: $31.00

For a total of $228.00, all by following that simple plan.

Another thing you could do is the following:

January 31 x 25 cents = $7.75
February 29 x 50 cents = $14.50
March 31 x 75 cents = $23.25
April 30 x $1.00 = $30.00
May 31 x $1.25 = $38.75
June 30 x $1.50 = $45.00
July 31 x $1.75 = $54.25
August 31 x $2.00 = $62.00
September 30 x $2.25 = $67.50
October 31 x $2.50 = $77.50
November 30 x $2.75 = $82.50
December 31 x $3.00 = $93.00

for a total: $596.00, that's pretty good by just putting your change away.

Of course at the end of each month you could put that money into your high interest savings account and make even more money!!!!

The goal here is to get you used to saving money everyday.

1 comment:

Connie Walsh said...

Very Cool, I am on board...I just have to get out a jar and put something on it so that when I forget I can retroactively remember.