52 Week Savings Plans

I don’t get these plans. Don’t misunderstand me. I get the weekly set aside of money to make a nice vacation fund, big purchase fund, or just a rain day fund. But why are people so into the a $1 this week $2 next and $52 in a week at the end? If you can set aside $52 a week why not just set that amount aside to start with every week? Also, how many people get paid on a weekly basis? I did as a temp, but that is the one and only time in my 10 working years that I have. At one time both Hubby and I were getting paid on a monthly basis. Let’s take a look at a few of the plans.

Whatmommydoes– In this plan she starts out with just 50 cents the first week and adds a dollar each week after that; ending with $51. That is a grand total of $1352 without interest.

OurHollyDays– This is the more standard plan you see starting with a dollar and ending with $52 dollars. That grand total is $1378 without interest.

TheWomenTalk– This one annoys me the most. She starts with $10 her first week and adds an additional $10 every week after that; ending with $530 in a single week! Her grand total is $14310 without interest. While a hugely lofty goal to achieve it’s so mind boggling to me that someone has $530 of disposable income in a single week, not paycheck, and only starts out saving $10 a week. Also, if you have that much disposable income in a single week can we see the rest of the HOUSEHOLD budget including how much your house, her and partner, make in a week. Also, why aren’t donating that huge amount to a charity?

In reality, it’s a very simple goal to set up and achieve. Set x dollars aside each week or even take x saving goal and divided by 52 weeks. Or better yet, divide by Paycheck and put in your budget so you can account for it every paycheck as you move money around. Currently, in theory, my budget has $100 a paycheck that gets set aside for savings. The first purchase from this fund will be new tires for my vehicle. The next, who knows. The goal is a new place to live, but we will see what life brings to us.

If I make my goal of $100 a paycheck for the rest of the year, we are looking at an account with $2300; 23 paychecks left this year.

Happy Savings!

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