The idea of saving is not new and every time there is a conversation about money, the topic of saving money would automatically come next. But that is all just talk. We all make resolutions after resolution only to do it next year every time, every year. So here i am, making a resolution to save money again. Only that this time i am gonna put it into action. I have over the years heard about some methods, tried some, failed some, ended some. The following are challenges i am taking up to enforce my savings plan.

It all started from this blog post in budgetsaresexy where i began tracking my own baby girl's expenses. I also realise the importance of budgeting

Join me in my mission to achieve financial freedom by doing the following!

Everything Monthly Balance

Starting off with the initial savings balance from the coins i saved in 2015 and all other savings challenge, I will update the balance here every month.

Dec 2015$239.14
Jan 2016$447.12
Feb 2016  $596.46
Mar 2016$1,311.94
Apr 2016$1,656.90
May 2016$2,028.97
June 2016$2,342.13
July 2016$2,655.78
August 2016$2,989.40
September 2016$3,097.00
October 2016$3,430.00
November 2016$3,735.50
December 2016$4,041.50

I did it! 12 full months of savings tracking.
It has been a challenging challenge and an interesting journey over the past year.
Hope it motives you on your own path of saving. Cheers.

52 Weeks Money Challenges 

6 Jars to financial freedom

The habit of saving is more important than the amount saved. At the end of the day, whatever money saved is still yours to keep and spend.
Find out what this plan is all about here.

Update of this savings plan

52 Weeks Coin Challenge

The idea of this challenge is simple. 
Put a dollar coin into 1 container every week. 
Put two 50 cent coins into 1 container every week

Update of this savings plan - 2015

52 Weeks Increasing money challenge

I have set up a recurring transfer of $26.50 per week from my OCBC to Everything Monthly Balance account. At the end of 52 weeks, i would still achieve the goal of $1378! If you are someone who keep finding excuses and reasons for not saving like i used to, then do this!

Find out more about this plan here.

Update of this savings plan - 2015

Balancing Balance Transfer

I have this habit of rounding up or down the balance i have in my account. For example, if my phone bill is $23.45 and i have $100.23 in my bank account, i would go ahead and make a payment of $24.23 so that my bank balance will have a nice zero at the end without any decimal place or cents behind. ($100.23 - $24.23 = $76.00)

With this concept i had all along, i thought why not just transfer those ending balance to my everything savings account. Therefore i started this new saving idea making it a point to transfer any balance of the dollar and cents from my other banks to this account. (i.e if the weekly balance from Bank A is $123.40, i would transfer $3.40 out to this savings account.)

365 Days Ducky Challenge

A dollar a day from my wife and myself each into our ducky bank for 365 days a year!

Find out more about this plan here.

It's the habit that counts and not the actual amount of money saved. Therefore just save the money and not constantly be thinking about how... just save!

1 comment:

  1. I came across this link on best savings plan, hope can provide more insights.

    money saving plan