For some people, saving may often be done on a monthly basis, especially for those who have a monthly salary. Unfortunately, not everyone has a monthly salary so it is also necessary to find the right saving solution for those who earn daily or weekly in order to still be able to achieve the expected financial goals.
One effective way that can be done to achieve these financial targets is to use a weekly saving table. Not just collecting money per week, this saving table can also be used as a strategy to increase discipline and priority scale. With these good habits, you will also find it easier to manage finances.
Then, how to make a weekly saving table? Just look at the following explanation.
How to Save with the Weekly Savings Table
Making saving a good habit is not an easy thing to do. However, if you are committed to doing it consistently, then you will have a positive impact in the future.
Weekly saving activities can encourage you to be more frugal and prioritize needs rather than mere desires. Therefore, it is important for you to learn to set aside income on a weekly basis so that needs are met and desires are also achieved.
Well, if you want to try practicing the weekly saving table method, follow these steps.
1. Create a savings table
At first, creating a weekly savings table may seem confusing. However, you can start by knowing how much money you want to make in a week.
For example, say you have a goal of saving $100 in a month. So, you only need to divide it evenly per week. So, your obligation to set aside savings money in a week is as much as $25.
If you want another way, you can also divide it in stages as in the table below:
Week 1: $35
2nd week: $30
3rd week: $25
4th week: $10
You can change the nominal above according to your goals and financial condition. If you have a target of saving $200 in a month, then the weekly savings amount will certainly be greater.
2. Prepare a piggy bank
After the weekly saving table is created, you need to prepare a special piggy bank to save according to the expected target. It doesn’t have to be expensive, just provide a place where you can store your money safely. In fact, you can also use jars of used food or other products as a piggy bank.
3. Create a pocket calendar
To remind you of your weekly saving task, you can also use a pocket calendar or a saving calendar to stick on your desk. This is very useful to be a reminder as well as a guide in saving weekly that you need to do.
4. Start saving
If everything has been prepared, of course the important thing you need to do is run a saving program according to the weekly saving table or saving calendar that you have created. If you have put in your savings in the first week, then you can cross out the saving task in the first week on the saving calendar that you created.
Tips for Using the Weekly Savings Table Effectively
After knowing how to create a weekly saving table above, you can follow the following saving program tips so that you can apply weekly savings effectively.
1. Starting from a small nominal
If you just want to try implementing the weekly saving table program, then you can start with a small amount. For example, saving $10 in the first week, then $20 in the second week, and so on. In addition to feeling easier, saving programs like this can also improve good habits for you to be more consistent in saving.
2. Make a list of income and expenses
In addition to saving, you also need to have financial records to access every income and expense you make. Not only weekly, you also need to record every daily, weekly, or monthly expense.
This is important to do so that you can find out how much income and expenses you have. If your expenses are bigger, then you need to do the right saving strategy and better financial management.
3. Take advantage of discounts and cashback
It’s not wrong if you take advantage of promos such as discounts and cashback when shopping or other transactions. This can be an effective way to support your success in implementing a weekly saving program.
In addition to being more efficient, you can also allocate the remaining shopping or transactions for savings so that you have no reason to delay saving activities.
4. Reduce unnecessary spending
As explained earlier, a good habit of saving is not only useful for raising money, but it can also get you used to reducing unnecessary spending. That way, you can better understand what is a need and what is not.
5. Bring lunch
Not only school children who can bring lunch to school. A professional worker is also highly recommended to bring lunch to the office or when traveling. Besides being able to save money, you can also cook food that is healthier and according to taste, right?
6. Start investing
Many people think that investment can only be done by those who have large capital. In fact, anyone can invest as long as they have a strong will or determination to achieve the expected target.
Well, one way you can do to achieve your saving target is by investing.
7. Find friends and rivals
Having friends who share the same vision and mission will make the weekly savings table program easier to run. Therefore, you can find friends as well as ‘rivals’ who can motivate you to be consistent in saving.
Make a savings calendar or a pocket calendar each, then show that you and your friends have been doing this savings program for several weeks. Then, see how much savings you and your friends can make!
That’s how to save with a weekly savings table and tips on using a weekly saving table that can be applied easily. By saving, you can find out how much budget is needed for your needs and how much budget can be needed to be used in an emergency.
Although it looks simple, this one activity is often difficult to do, especially if the person does not have a high awareness of the importance of managing finances well.
Therefore, it is important to remember that saving is not just an activity that aims to raise money. More than that, saving is also an effective way to develop yourself to become a better person. Happy saving!