Saving Money in 2015

Saving Money in 2015

We are heading into the end of 2014. This is the time of the year where I always seem to  spend a big chunk of change. What, with the Christmas gifts, traveling, and myriad of other expenses. But, it’s also a great time to start thinking about saving money in 2015.

Saving Money in 2015I really like this tip about saving money. You can really follow through on this one pretty easily. It’s also so easy that every member of the family can take a shot at it. It’s called the 52 Week Money Challenge. You don’t have to wait until the first of the year to get on board. Start saving at any time of the year. Here’s how it works, just save the amount of dollars that equals the same week of the year. So, the first week of the year you would save just $1. Then, in the second week of the year, you would try to save $2 from your regular expenditure. Essentially by the end of the first month you will have $10 in savings all to yourself! Keep using this method through the year. By the end of 2015, or whenever you started, you should have saved up $1,000. If you and your husband (or significant other) use this method, you could have $2,000 saved up by the end of the year. You could dump this money into a savings account or use it for a family vacation.

It’s also important to pay yourself first. If you haven’t ever heard of this concept, here’s how it works. When you get your paycheck on Friday or every other week, however your situation works, you pay yourself first. Decide on amount of money that you can save each week and take that out of your check first. This is a pretty easy concept and can be accomplished easily if you have a direct deposited check. You can set up with your bank for an amount to automatically deduct a specific amount into a savings account to begin earning interest.

Do you have some great money saving tips that you plan to implement in the future? If you do, please tell us about them on our Frugal Fabulous Finds Facebook page. We love hearing from you guys!

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