It's the start of a New Year!
Most of us come up with resolutions for fresh new year. However, since I'm such a slob this past holidays (and mostly because I procrastinated most of my tasks), I almost forgot coming up with a New Year's resolution. So as I was reading some stuff on the internet on what to do for 2013, I came across some topics discussing saving up money. I used to have a monthly savings plan back in 2011 but I used it all up on 2012 and after that, ta-dah! My savings become a big ZERO.
What really caught my interest was the 52-Week Money Challenge. It's quite simple. Every week, you deposit an amount representing the week you are in to your savings account. For example, for week 1 of the year (January 1-7), I deposit $1 to my account. So on the second week, I will have to deposit $2 and on the last week of the year (week 52) I will have to do deposit $52. You can also do it backwards. you can start by depositing $52 for the first week, diminishing the amount for each succeeding week until you reach $1 for the last week. I opted to do this.
Dahil nasa Pilipinas tayo at dahil nahihrapan na rin ako mag-english, Peso ang ginamit ko na currency ng deposit. I used $1=P50 for the exchange rate so as not to confuse myself with loose change. Sa rate na ginamit ko, I projected a year-end savings of P68,900.
Hopefully, I can keep up this. Wish me luck!
(Disclaimer: the 52-Week Money Challenge is not my original idea. Doing it backwards was also not my idea.)
