Here's to Great Start in 2015

Posted by on Tuesday, December 30th, 2014 at 10:02pm.

 

Thinking About a New Year’s Resolution?

TRY TAKING THE 52 WEEK SAVINGS CHALLENGE

What Would You Do With An Extra $1300?

  • Take a vacation?
  • Open a CD for your (grand)child?
  • Pay off your Kohls charge?
  • Make a nice donation to your favorite charity?
  • Use it for a home improvement project?

What about helping kids learn to save money? Maybe $1300 doesn’t go very far for us adults these days, but that’s a nice chunk of change for a kiddo. Well, here’s a fun way to put a little bit of money aside each week without breaking the bank! Start your kids early on learning the discipline and benefits of saving money. Teaching them when they're young about the proper ways to give, spend, and save money will lay a solid foundation for financial wisdom throughout their entire life.

 

WEEK

DEPOSIT

BALANCE

WEEK

DEPOSIT

BALANCE

1

$1

$1

27

$27

$378

2

$2

$3

28

$28

$406

3

$3

$6

29

$29

$435

4

$4

$10

30

$30

$465

5

$5

$15

31

$31

$496

6

$6

$21

32

$32

$528

7

$7

$28

33

$33

$561

8

$8

$36

34

$34

$595

9

$9

$45

35

$35

$630

10

$10

$55

36

$36

$666

11

$11

$66

37

$37

$703

12

$12

$78

38

$38

$741

13

$13

$91

39

$39

$780

14

$14

$105

40

$40

$820

15

$15

$120

41

$41

$861

16

$16

$136

42

$42

$903

17

$17

$153

43

$43

$946

18

$18

$171

44

$44

$990

19

$19

$190

45

$45

$1035

20

$20

$210

46

$46

$1081

21

$21

$231

47

$47

$1128

22

$22

$253

48

$48

$1176

23

$23

$276

49

$49

$1225

24

$24

$300

50

$50

$1275

25

$25

$325

51

$51

$1326

26

$26

$351

52

$52

$1378

Here's an Alternative Option

Putting up $40 to $50 a week may be tough - especially for a youngster, so try alternating between Week 1, and Week 52; then Week 2, and Week 51; Week 3 and Week 50, and so on. This breaks up the amounts from being weighted so heavily towards the end of the year. 

How About Upping the Ante?

If you’re feeling quite ambitious, try doubling  up on the amounts you save each week. At the end of the year, you’ll have saved over $2700. Now that’s a nice vacation fund. Imagine the possibilities!!

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