Me and my officemates have been doing this but we started with 30 which isn't bad since at the end of the year, it will yield a total of Php 41,340. It does sound easy enough but when you reach say week 30-40 wherein you'll have to save about 1k, it's going to be difficult.
Here's our modified version: If you're doing the 50 per week, when you reach week 20, you need to save 1k na which goes higher as the weeks go on. My suggestion is if hindi kaya, take week 20 of the 20 pesos contribution instead wherein you'll only contribute 400. That way, though you weren't able to follow the chart, nakapagsave ka pa rin.
Other tips:
1. If you think you can save bigger, then start with 100. As with any investment, the bigger you invest, the bigger the yield. Though this is just savings, you'll earn Php 137,800 at the end of the year if you start saving 100 per week. Again, this is not necessary. Save what you can afford to save.
2. Keep all your loose change even if it's just piso piso na lang, you can collect those until you earn the amount needed for that week.
3. If you want, you can also start backwards, meaning you'll start at week 52. Habang patapos na yung taon mas maliit na yung kailangan mo hulog. The advantage of this is in just a few weeks, you'll be able to see that you've already saved a lot. This is easier if you think you have less expenses during the start of the year which is usually the case for most of us since December is very magastos.
4. Seal your jar and store it in a place where you won't be tempted to take what you've saved and spend it. In our case, we leave it in a safe in our office. You can also open a savings account solely for this purpose but sakin hindi ito nagwowork dahil wala ako disiplina kahit na walang atm i find ways
Another tip, don't buy a piggy bank pa to store your savings, waste of money din yung. Any good sized garapon will do. Sakin ang gamit ko is yung lalagyan ng boxers from bench hehe.
5. If a lot of you are taking part, say a family or in your office, motivate each other, ask if they've saved for that week. Trust me, this really helps. And also, kids can start doing this too with their allowance, maybe 5 pesos per week
6. If you have bonuses or extra because of OT pay, pay yourself in advance. It feels good to see that you've crossed out several weeks in advance. With those weeks crossed out, you can start saving for the other weeks ahead.
7. In case, you have done Tip # 6 and you have some leftover money, you have the choice to spend that or save it instead. I choose the latter.
8. Be realistic and don't be disappointed kung hindi mo naachieve yung required saving for that week. Like I said, there are some unavoidable downs in life that require money so hindi ka makakapagsave ng malaki. I think the goal naman of this challenge is to discipline yourself into paying yourself first before anything else.
I'm done with Weeks 1 - 7. Binayaran ko na in advance so I'm saving ahead for week 8. Pag may malaki kong tira, tabi agad. Goodluck satin
