3 New 52 Week Savings Plans

January 2, 2014 in finance

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check out these 3 new 52 week savings plans and make 2014 a prosperous year!

Last year, it seemed like the new trend in the frugal and financial world was the 52 week savings plan. You know, the one where you save 1 dollar the first week of the year, 2 dollars the second week, and so on. Heck, even I wrote about the plan and TRIED to do it myself. I say tried because I didn’t finish. Yes, this frugal and financial fanatic didn’t finish the program. There were big reasons why I didn’t continue (mostly because the price gets higher the closer you get to the holidays) but what I learned is that there are a few other ways you can accomplish this type of savings. Actually, I came up with 3 new 52 week savings plans that just might work out better in the long run.

Save in Reverse

reverse savings plan; start by saving $52 the first week, then work your way down the rest of the year.

This is the easiest way to use the 52 week savings plan from last year, and not feel burned out at the end of this year. It seems really easy to save a small amount per week, until summer (and your vacations) start to hit that checking account. From summer on, the amount just get bigger and you start to resent even the little bit of money you are putting aside. By the time Thanksgiving, Christmas and Hanukkah roll around, all you want to do is take that money you are supposed to be saving and actually spend it on other things. By going in reverse, saving 52 dollars the first week and 51 dollars the second week, you set yourself up for success. You’re already motivated to save since it’s the new year, and you know that the number will just get smaller and smaller.

Save by Number

this "save by number" plan is the perfect yearly savings plan for kids to follow.

This is my favorite new way to save because it’s centered around getting our kids accustomed to saving throughout the year. This plan is also great for those of us on a very tight budget, and just can’t shell out the amounts in the regular 52 week savings plan. It’s very similar to the reverse savings, but you are choosing one amount to save each week of each month. Since there are 12 months, and you’re starting in January, you would save 12 dollars each week of January. In February, you’ll save 11 dollars each week, and 10 dollars each week in March. This plan works for kids since the amount changes every month. Since the amount also decreases, you don’t have to worry about them giving it up all together. I’ll write a more detailed post later in the week on how well this works for kids.

Note: all numbers are based on savings deposits being placed in accounts on fridays. A few of the months have 5 fridays, which explains why a few of them have 5 weeks instead of 4.

Bulk Saving Plan

3 new 52 week savings plans

As a freelance writer and contractor, it can be pretty difficult to do the 52 week savings plan when you don’t have a steady paycheck. One way to remedy this is the set up a bulk payment each month. For example, if you add up the weekly amounts for the reverse savings plan, it equals 250 dollars for January. Since my payments come in every 30 to 45 days, assigning a one time savings deposit of this amount is much better for me than struggling to get 52 dollars together for the first week, then 51 dollars from the next week. Again, this amount will decrease month after month, so if I end up getting a windfall of money from a contract job, I can take care of 2 or even 3 months at a time. By the time I get to December and only have to save 4 dollars for the whole month, I’ll be more inclined to double, triple, or even increase it tenfold. Again, you’re setting yourself up to succeed and be motivated to continue your saving.

Will you be participating in the 52 week savings plan this year? Will one of these options work better for your lifestyle than the usual plan? Let me know in the comments below.

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{ 18 comments… read them below or add one }

Lizz January 2, 2014 at 7:54 pm

Ours is pretty specific for us, but we deposit Jamie’s mileage reimbursement checks (every Tuesday) directly into savings… then I go in on Tuesday evenings and add whatever I need to to get the savings balance up to the nearest round hundred.
So if we had $1247 after a reimbursement check, I’d add $53 from checking to get it to $1300. Then the next week, the check might be another $72, so I’d add $28 to get it up to $1400… etc, etc.

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Amiyrah January 2, 2014 at 8:12 pm

I love that system, Lizz! We are doing a similar one with my husband’s overtime money this year. That “extra” money is being used for the down payment on our house. Any saving system is a good one, as long as you don’t take the money out before you really need it, right?

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Brandi January 2, 2014 at 8:38 pm

You killed this post, Amiyrah! I love every single one of these savings plans, especially #2. Ayva is old enough to start understanding where money comes from, and it’ll be a nice way teach her to save with a GREAT bonus at the end. Well done, friend! Now, off to pin them all!

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Lizz January 2, 2014 at 9:17 pm

Brandi,
Something that really helped drive it home for Max was when he saved up for a big LEGO set ($60!) we rolled all the change and his crumpled dollars and took him into a store to buy it. He had to pile all of his hard-earned money up on that counter and hand it to the cashier. He has been way more careful since then, seeing the actual exchange of cash for goods, instead of me swiping a card or a box appearing on the front step from Amazon.

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Amiyrah January 3, 2014 at 3:10 pm

Thank you, Brandi! We gotta teach them early, right? :)

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Kia January 2, 2014 at 8:46 pm

I love the bulk version because you can save according to how your month is. for people who are getting in money once a month you can decide that if february is a bad month to use the bulk amount from a different month and cross it out. each month doing the one you can afford.

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Bunnie Burket January 2, 2014 at 9:04 pm

I like the reverse savings idea… we already have $50 automatically deducted from our checking and deposited into savings each month, plus I keep a separate Ing Direct savings account specifically set aside for Christmas that gets $60 deposited into it monthly. We also deposit my husband’s extensive overtime pay each summer into savings. In 2013, we saved enough to buy a new microwave and dishwasher, pay cash for Christmas gifts for close family and our 3 kids, plus we were able to cover unexpected expenses when my mother-in-law passed away on Dec 20. It’s not an exact science, but by having the amounts automatically deposited, it adds up fairly quickly and we don’t miss the money.

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Kelly January 2, 2014 at 9:51 pm

Love these! I’m doing a challenge to get readers to save $2,014 in 2014, but I will have to share these! They are great plans.

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Amiyrah January 3, 2014 at 3:09 pm

Thank you Kelly! I signed up for your challenge. You are a genius!

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Rachee January 2, 2014 at 10:00 pm

I LOVE this! My boyfriend and I have been talking about starting a savings plan and this sounds like an awesome way to start. Like Brandi said, you KILLED this post.

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marielle altenor January 2, 2014 at 10:47 pm

Love this post! I want to try and complete the first chart, wish me luck!

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cocoamommy January 3, 2014 at 2:17 pm

Wow, I love the bulk savings idea. I think I will try this one. Wish me luck.

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Onnie January 3, 2014 at 8:56 pm

I love the bulk savings idea. I too tried the 52 week plan, but stopped when the even I was saving for came along (Miss America). It’s nice to know that I can catch up and get back on track.

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Emily January 6, 2014 at 11:31 am

These are great ideas – I love that they can work with multiple budgets. I saw another version where you saved a large amount one week, a small amount the next – the total for the year was $1378. Wish I could remember where that one was!

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Amiyrah January 6, 2014 at 11:45 am

Hi Emily! The version of the plan that you saw is just like the reverse plan, except you make the 52 dollar deposit first, then make a 1 dollar deposit. The next 2 weeks, you make a 51 dollar deposit, then a 2 dollar deposit. You can use the reverse plan picture above to try that plan if you want. Just cross off the weeks, once you do them so you can keep track of which week you’re on.

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Kelsey October 15, 2014 at 5:50 pm

I just happened to stumble upon your website by googling saving systems, and I’m thrilled to try #3! Saving money has never come naturally to me…I’m afraid I’m the exact opposite of a frugal person, but I’m determined to start! I’m super excited! Thanks so much!

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Amiyrah October 15, 2014 at 8:25 pm

Hi Kelsey! I’m so excited that you found the site through google. Frugal and non-frugal readers are all welcome here :) . Please keep me updated how savings plan #3 works for you. Remember, whether you’re saving a lot or a little, you’re still saving! That’s all that matters. Hope to see you again soon.

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Simara October 30, 2014 at 6:39 pm

I’m doing the savings challenge and I put aside $26.50 a week. It will total $1,378 by the end of the year.

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