Monday, January 6, 2014

MONEY MONDAY : Week 1 of the 52-week money challenge

I initially planned to buy a cookie jar for this challenge. So before I went home last Thursday, I dropped by the mall to find a suitable jar. As I was about to pay for a one hundred peso cookie jar, I realized that I shouldn't be spending for something that is geared towards me being able to save. I returned the jar and decided that I will just look around our house for a jar that I can use.

I found an empty coffee jar, removed the label around it and decorated it with washi tapes... and here it is:


Before I left the office last Friday, I placed 25 pesos inside the jar.  So that's week 1 for me, 51 more weeks to go.

I posted a similar photo on my facebook account and was pleasantly surprised that I was able to inspire some of my friends to do the same. A friend of mine suggested that I increase my weekly savings. But I declined and told her I wouldn't want to fall short in the middle of the challenge and not be able to finish it. See 25 pesos may seem to not be a lot, but come May, I will be needing to place at least 500 pesos a week, or set aside 1,000 pesos every time I get my salary on the 15th and the 30th of each month, that will progress to setting aside at least 2,000 pesos every payday come October. So before deciding on the initial amount that you will place inside your jars, please take a moment to see if that amount is workable.

Next week, I will post some ideas that my friends have suggested in line with this challenge. But before I say have a good week ahead, let me share with you the spreadsheet that I have prepared for a colleague's daughter. My friend expressed her enthusiasm to do this challenge too and I have offered to help her with her spreadsheet. She plans to involve her little girl Belay and requested me to make one for her too.


Happy Monday everyone!



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