Happy New Year! I am super excited about what this year holds. Have you set your New Year resolutions goals? Most couples start talking about how they will save more money or need to save money. This is especially true once reality of what was spent over the holiday break is exposed.
So I know many of you have seen or heard of the 52 Week Money Challenge. I even shared it with you guys last year….good concept but kind of hard to maintain. So I decided to remix the 52 Week Money Challenge & issue my own challenge: 52 Week Anniversary Saving Challenge.
Just what is: 52 Week Anniversary Saving Challenge?
This savings plan put you in control over the amount you save & how you save. The amount to save will be easy to remember because it is based on the number of years married. Plus it doesn’t fluctuate. The amount you deposit weekly/daily is the same.
This savings plan will get you conditioned trained to make really deposits into your family “rainy day fund” or even your “special date night fund.” Saving will be easy for some and a tad bit challenging for others bit ti takes discipline to make a life style change. Saving money should be natural and at the same time pull you out of your comfort zone. So set the amount & the frequency that is S.M.A.R.T.
How to choose the amount to save:
Single Digit Anniversary options (Year 0-9)
- If you haven’t made it to a full year, then decide to deposit the number of months you have been married as of January 1.
- Year 1-9, you can decide to just save the amount equal to the year
- You could also decide to count the number of months you have been married. Example married for 2 years=24 months. That would equate to depositing $24 per week or daily. You decide.
- Add a zero to the number and save that amount…example: if you have been married 1 year then you can decide to save $10.
- Decide if you will deposit the specified amount daily or weekly.
- If you decide to go with a single digit amount, it would be best to save daily.
- If you decide to go with a double digit amount, you have the option to do daily or weekly deposits.
Double Digit Anniversary Options (10 years or more)
- Save your amount daily, weekly or monthly.
- Add a zero to your anniversary number & save that amount monthly.
- You could also decide to count the number of months you have been married. Example married for 10 years=120 months. That would equate to depositing $120 per week or month. You decide.
- Add a zero to the number and save that amount…example: if you have been married 15 years then you can decide to save $150.
Tips on being successful with the 52 Week Anniversary Saving Challenge
- Be each other accountability partner
- Make it fun. Add additional non-financial challenges between you and your spouse.
- Make the commitment to save over the next 52 weeks….365 days.
- Decide where you will deposit the money: in the bank, in cup, box, or even a dresser draw.
- If you decide on a bank account, open a new savings account specifically for this challenge. If you work, designate an automatic deposit into the account for the specific amount.
- If you forget to make a deposit, don’t stress. Just pick up where you are. Make adjusts to the end goal amount. Now don’t use this as an excuse to miss or stop because neither are an option.
- Set a goal for what the money will be used for.
- Pray over the saving plan & commit to it!
It’s important to invest in your marriage and helping your marriage to have a healthy financial wealth is important. Whatever and however you decide to save, all I ask is that you SAVE! It’s imperative to have some “funds” available for the “what ifs”…..
If you need help with getting your finances in order, read these books: The Total Money Makeover: A Proven Plan for Financial Fitness and Matri-Money, 150+ Tips about Money and Marriage. I actually have the kindle version of Marti-Money so I can refer to it at anytime and anywhere!
What will your savings plan look like this year?