I call this the 100 Weekly Increment Savings System. Whether you allocate 20% for savings which I have discussed in my previous blog, or follow this system, you are sure to save.
This system is quite challenging. But a better way of saving, this assures me around $117,600 savings.
The system is incrementing your savings by 100. For instance, for the month of January which has four weeks, savings can be started with $100 for the 1st week and ending with $400 for the 4th week. This will give you $1,000 savings at the end of January. To simplify this below is an illustration:
1st week - $100
2nd week - $200
3rd week - $300
4th week - $400
Total - $1,000 (January)
Since this increments on a 100 dollars basis, your 1st week on February should be $500 on the 1st week and end the month with $800. To continue the illustration:
5th week - $500
6th week - $600
7th week - $700
8th week - $800
Total - $2,600 (February)
Provided that each month has four weeks (there are months which reaches to five weeks), below is a summary of what you will earn from January to December:
January - $1,000
February - $2,600
March - $4,200
April - $5,800
May - $7,400
June - $9,000
July - $10,600
August - $12,200
September - $13,800
October - $15,400
November - $17,000
December - $18,600
Total - $117,600
By the way, you can use your own country's currency. I am using dollars as an example. If you live in the Philippines, you can use pesos.
Hence, at the end of the year, it is $117,600 savings (or Php 117,600 if pesos is your currency).
Again, this endeavor is very challenging. But it will save you a lot of money.