Admit it in every New Year, your New Year's resolution is to save money for your family or for your future. But every year it's always the same, by the end of the year there will be no money left in your account.
I admit this is our main problem, we tried saving money through our ATM bank accounts. We ended up spending it for other means. I searched online about how to save money topics through forums or articles written but no success. Until I saw this article on The Asian Parent that was shared by my friend through her Facebook.
This is the 52-week Money Challenge Philippine Edition. Apparently, it has gone viral all over the social media sites from the United States and now it has infected us here in the Philippines. There are some of the Filipinos today have conquered this challenge last year 2014. One of these Filipinos is Rhea Morocco aka Kuripot Pinay introduced this challenge. She took it last year 2014 and save over Php 60,000. It is basically a weekly saving process for example, you can save 100 pesos for the first week then for the next week, you will have to double the money so that's 200 pesos. This continuous until the end of the year which by December you have save over Php 120,000. Simple right?
Right now, me and my fiancee is taking this challenge. We took three of the challenge actually (Php 1, Php 5 and Php 20 increment)
Before you take this challenge, there are a few tips given by Rhea Morocco based on her experience. (I just added another tip extra).
First: Goal! What is your goal for this 2015? What would you want to save for? A new gadget? Educational fund for you child? Personally, we are doing this challenge one for our marriage, one for our son's education and one for emergency. List down your goals what the first thing you want to save for.
Second: Piggy Bank! We have three piggy banks for this challenge we labeled it according on what we want to save.
Third: Template! This is actually the increments you want to take. You can print these out and post it on your room or be checklist in every week you save for the week.
Php 1 increment
Php 5 increment
Php 10 increment
Php 20 increment
Php 50 increment
You can also do this increment saving in reversed such as this Php 50
You can also try different increment techniques by 2 or by 30's it depends on how much you want to save.
Fourth: (this is my own actually) God! We prayed to God about our financial problems and this is his answer, We prayed also for discipline so we can conquer this challenge. We are also giving the 10% of our saving to him. :)
Good luck on everyone who is now taking this challenge! I'll update you guys by the end of the year for the results :)