Saving money doesn’t sound like an exciting thing to do. However, looking at the numbers and seeing what is possible, can change your mind.
“You have to save” is something we hear often and even more so during July, which is National Savings Month. But how to do it and what is possible are not explained often enough. Kassondra Perry-Weaver, an ordinary American woman, wondered about saving too and then answered her own questions by developing a tool to make savings manageable. The result is a 52-week plan that eases you into the habit by letting you start with smaller amounts. Kassondra’s idea was that you start in the first week of January and save until the last week of December, but you can start any week of the year.
Working with Kassondra’s philosophy, here are six savings plans to choose from:
- R1-Savings Plan
- R2-Savings Plan
- R3-Savings Plan
- R4-Savings Plan
- R5-Savings Plan
- R10-Savings Plan
How does it work?
- Choose the plan that you can afford.
- Every week you put away the amount you chose, multiplied by the number of that week. For example, if you choose the R1-Savings Plan, in week one you will put away R1 (because 1×1=1), in week two R2 (because 1×2=2), in week three R3, and so on. In week 52, you will put away R52. On R10 a week, you’ll save R520 in the last week. That might sound like a lot, but remember that you are building up to it slowly, so by the time week 52 arrives, you will have the savings habit sorted – and a healthy amount of cash in hand.
Here’s what you can accomplish in a year (52 weeks)
The plan
R1 a week
R2 a week
R3 a week
R4 a week
R5 a week
R10 a week
Savings after 4 weeks
R15
R30
R45
R60
R75
R150
Savings after 26 weeks
R351
R702
R1 053
R1 404
R1 755
R3 510
Savings after 52 weeks
R1 378
R2 756
R4 134
R5 512
R6 890
R13 780
And this is only straight savings without any interest. Put your savings into an interest-bearing savings account for a year and you will have even more. Isn’t it exciting and inspiring to see what you can achieve with very little? Absolutely! So don’t delay your savings journey any longer.
