Everytime I ask people why aren’t they investing, I always get this answer, “Gusto kong magsimula, kaya lang wala akong pera.” (I want to start investing, but I don’t have any money.)
The truth is, anyone can significantly improve their financial situation. All they need is a combination of smart planning, creativity and motivation.
Here’s a challenge I’d like you to try – a proven way to save Php 5,000 in 35 weeks. You can do this challenge to motivate yourself to save money for starting your investment account, building your emergency fund, Christmas gifts, a vacation, or something special.
I created this 35-week savings plan based on some other challenges I’ve seen out there, just in time to start it in time to save Php 5,000 by December (by starting in May).
The idea is a simple and effective way to save money. You start by saving Php 160 in the first week, and then gradually reducing your savings by a peso a week throughout the rest of the year. So you save Php 159 in Week 2, then Php 158 in Week 3, and so on, until you’re stashing away downwards of Php 130 a week on December.
By the end of the year, if you complete the challenge, you’ll have saved Php 5,005.
Here’s the breakdown of how the savings plan goes week by week:
Free Printable Savings Plan
The file will be in PDF format.
Put your savings plan in motion! All you have to do is to print out the chart and cross off the weeks in the order you are fulfilling them. If you are on a tight budget, there are ways to make more money and still meet this savings goal – you can get a part-time job or have a sideline business. Happy Saving!