Saving Money – the old fashioned way

I came across this idea surfing the great big interweb recently.  Saving money in a jar – nothing new there I hear you say, but there’s a difference….

The amount of money I put in each week matches the week number that we are on in the year.  For example, I will start next week which will be Week 1, so I’ll put €1 in the jar.  Week 2 will be €2 and so on until Week 52 and yes, that week will be the costliest at €52.  If I do this I will have over €1300 in the jar by the end of the year.  Nice?

2014-01-04 15.52.30

Now, I can hear you saying many things….

1.  Cool idea – yes I agree.

2.  I am sensible Fiona.  I have savings and don’t need to resort to a jar – well go you!  However, not everyone is this diligent and motivated (me for one).  It’s a bit like the New year’s resolution to get fit – the more fun it is the better and I think this is a fun way to kickstart a savings plan.

3.  That’s fine for early in the year, but it’s a bit steep towards the end of the year – fair enough,  I have used euros for this plan, but you can use 10c, 20c or 50c instead if it’s easier.

I created my own template to stick on the jar – now maths is not my strong point, so if you decide to check my figures, honestly there’s no need to post comments pointing out the errors (this is directed at my friends!!).

Week Monday Amt Total
1 January 76th €1 €1
2 January 13th €2 €3
3 January 20th €3 €6
4 January 27th €4 €10
5 February 3rd €5 €15
6 February 10th €6 €21
7 February 17th €7 €28
8 February 24th €8 €36
9 March 3rd €9 €45
10 March 10th €10 €55
11 March 17th €11 €66
12 March 24th €12 €78
13 March 31st €13 €91
14 April 7th €14 €105
15 April 14th €15 €120
16 April 21st €16 €136
17 April 28th €17 €153
18 May 5th €18 €171
19 May 12th €19 €190
20 May 19th €20 €210
21 May 26th €21 €231
22 June 2nd €22 €253
23 June 9th €23 €276
24 June 16th €24 €300
25 June 23rd €25 €325
26 June 30th €26 €351

Whether you use 10c or €1 to kickstart the savings jar, I think this is a fun way to get children thinking about the advantages of saving.

Each week cross off the week number after you have put the money in the jar.  The great thing about sticking the spreadsheet to the jar is that the children (and you) can see how much money you are accruing in the jar each week.

Week Monday Amt Total
27 July 7th €27 €378
28 July 14th €28 €406
29 July 21st €29 €435
30 July 28th €30 €465
31 August 4th €31 €496
32 August 11th €32 €528
33 August 18th €33 €561
34 August 25th €34 €595
35 September 1st €35 €630
36 September 8th €36 €666
37 September 15th €37 €703
38 September 22nd €38 €741
39 September 29th €39 €780
40 October 6th €40 €820
41 October 13th €41 €861
42 October 20th €42 €903
43 October 27th €43 €946
44 November 3rd €44 €990
45 November 10th €45 €1,035
46 November 17th €46 €1,081
47 November 24th €47 €1,128
48 December 1st €48 €1,176
49 December 8th €49 €1,225
50 December 15th €50 €1,275
51 December 22nd €51 €1,326
52 December 29th €52 €1,378

By December, this jar should be pretty full….

2014-01-04 15.53.01

So what do you think?  Would you do it? I can’t wait to get started so roll on Monday January 7th…..

Fiona

PS:  Check out the current edition of Irish Country magazine for my feature on Crafty Ideas and in this months issue of Home Farmer, I’ll help you get started with your very own garden smallholding..

21 thoughts on “Saving Money – the old fashioned way

  1. Love it Fiona! Another thing I saw on the web that includes a jar is The Gratitude Jar…. google it…. a really lovely thing to do!

  2. Love this Fiona, I have a 2 Jars/candles from over Christmas these are now especially assigned to it, myself and Dave are going to both add to it each week! The second one Im going to also do a reward Jar since im rejoining slimming world this week, so for every pound I loose I will add to the Jar then please god when I reach my target I will treat myself!! ♥

  3. My middle daughter emptied a jar she had kept for six years, (since she was 10) and had €78 euro in it! Don’t tell her I might have borrowed the big coins throughout the years!

  4. Lovely post. I did similar with one of those Tesco money boxes that you have to smash to open. I never did let it get completely full but did save almost €500 in one one time. My hubby was well impressed and knew then where all his €2 coins were disappearing to!

  5. I came across this on internet and found it great idea too. I’m brutal with saving money! I started this and am on week 20, saving for a family trip to legoland (will take 2 years I’d say). Btw love your book!

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