I decided last night that I was going to be taking part in the “Money Savings Challenge” this year. It sounds relatively easy enough, and from my calculations, I could very easily put away just over £1,300 by the end of the year.
I have made myself a spreadsheet to work by, using Microsoft Excel. There are several columns, one of which is the date, where I have made a list of the date of every Wednesday throughout 2015 (see picture a little further down).
The name of the game is that you put away £1 in the first week of the year, £2 in the second week, £3 in the third, etc., so you eventually put £52 in the “pot”.
(Click to make the image larger)
The way I have thought about it, even if I can’t make it right the way through the year, by the time “Donut” appears (due 13 June 2015), I will have saved £300. That’s already a lot of money.
If I can last right the way through to making a final payment on 23 December 2015, I will have saved £1,378. Wow!
I did originally think about buying a money box – one of those that you cannot get in to without “breaking” it open (with a tin opener), but I thought that was too easy. Instead, I have renamed two of my online savings accounts in my bank – One is now entitled “Savings Challenge 2015” and the other is for “Holiday Savings 2015”. (I’m just going to be throwing whatever I can afford at the time in to the holiday account…) The only problem I have there is that both of these accounts are easily accessible to me via my online banking, so this will still take some self control.
Here’s to having a bit of “pocket change” to play about with in the next several months 🙂
So how about it? Will you take on the savings challenge too?