How to Save Over $1300 in a Year!

Need a rainy day fund? Want to go on a cruise? Short-term savings make it happen!

Many years ago I started putting money aside because I was lack having any money set aside for emergencies. After doing some research I found a very simple way of saving money each week. See the image below.

It started out with putting a dollar into a savings account. I simply opened a savings account attached to my checking account and then each week I simply transferred money from checking to savings.

After fifty-two weeks I had saved over thirteen hundred dollars! Today I just transfer $208 each month into savings. If you don’t touch the money, after five years (excluding interest) you will have $6,890.

That kind of money may not get you a house these days, but it could certainly be a down payment on a new car or even that vacation you have always wanted to go on.

If you have more money you can save each money, start by saving five dollars the first week. Then add five dollars to that amount so you are saving ten dollars for the second week.

Keep adding five dollars from the previous week to the next week and at the end of fifty-two weeks you have $6,890 in savings. This way you don’t have to wait five years to get this much in savings.