The Daily Savings Club.
For those of you who have been around for a while, you may remember this and this will be a refresher for you. For the newbies out there this is a super simple way of saving a little money without it hurting!!
There are no strict rules to this, you do what suits you and what is good for you. I will give you a couple of examples of how to do this, and you pick what's best for you.
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:
For a total of $228.50, all by following that simple plan.
Another thing you could do is the following:
January 31 x 25 cents = $7.75
February 28 x 50 cents = $14.00
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: $595.50, 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 of this "club" is to get you into the habit of saving money on a regular basis. As even if you only put away 25 cents per day for the whole year, you will still have saved up $91.25 by the end of December 2010.
I think it would be good to start this on January 1st, 2010. I will post daily reminders for the first month or so, then after that every now and then. For those of you who will be tempted to "dip into" your box or jar, get a large jam jar or box. Cut a hole in the top so you can slip your money in it, like a piggy bank, then super glue, tape or seal the lid on so it is a pain in the butt to get it off without a struggle...LOL
Here is a photo of my box that I keep my money in, its on my desk.
For those of you who blog, please feel free to mention this on your blog and lets see if we can get the whole blog world saving!!
Tomorrow, I will talk about another simple way of saving money for Christmas, birthdays, etc, that I have been doing for years now.....