Saving up doesn’t have to be difficult
For some people, saving up is super easy, but others have a bit more difficulty not spending their money. That can make it hard to maintain a savings account. Perhaps saving up isn’t your strong suit either, even though it’s smart to have some extra money stand by in case of emergencies.
Holidays, repairs, or that beautiful pair of shoes you really want: saving up is always a good idea.
365 day money saving challenge
If you put aside a large sum of money in one go, it can feel like a giant chunk has been taken out of your monthly salary. That makes it more attractive to deposit a smaller sum, or just refrain from doing it at all. That’s a pity, because by taking a slightly different approach, you can put aside a pretty big sum of money each year, without really noticing it in your daily life! With the 365 days money saving challenge you’ll have saved $1500 at the end of the year!
A little bit a day
The method is very simple. You put aside a little bit of money every day, instead of one big sum in one go. Every Monday you’ll transfer $1 to your savings account, on Tuesday $2, on Wednesday $3, and you keep going like this until you put aside $7 on Sunday. This means that you’ll have saved $28 at the end of every week. If you keep going like this all year, you’ll have added $1456 to your savings account at the end of it! This way, you only put aside small sums and you’ll end up with a nice amount of money at the end!
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Source: Libelle | Image: Pexels