The new year is viewed as a new start to improve your life in some fashion. This is the time of year that folks go on weight loss plans, join gyms or fitness classes, vow to improve their diets, become better people and take control of their finances. Quite often, the new year's resolutions are long forgotten by the end of January. The reason being, the changes are either too drastic or simply to vague. A resolution of taking control of your finances is vague. A resolution that says 'I want to have $1,000 in savings by the end of the year' is more specific. Even better is a resolution that says 'I will put $20 away per week so at the end of the year I will have $1,040' because it give you a game plan to follow. When it comes to the financial resolutions, the first vague resolution is doomed to fail because there is no starting point. The second has a starting point and ending point but no 'how to'. The third financial resolution has a starting point, how to and ending point that if followed is destined for success.
I'm looking forward to seeing my little savings challenge grow. This method does take a bit of discipline but it is rather painless. I don't really have any plans for the savings either. My husband came up with the idea to extend the savings plan through the following year for a total of 104 weeks which is something I am considering. That would mean setting up a new chart, easily done in Microsoft Excel. I'll decide whether to do that closer to the end of the year. In the meantime, I'm feeding the jar each week.