How to Create A Weekly Savings Plan (Or Bi-weekly Savings Plan) That Works! | Clever Girl Finance
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- Опубліковано 17 гру 2022
- We all know we should save more of our money to prepare for upcoming expenses, so learning how to make a savings plan is essential. A weekly or bi-weekly savings plan (saving every two weeks) can help you stay on top of achieving your financial goals.
What is your current savings plan? Share in the comments below?
In today’s video, we are going to discuss how to create an effective weekly or bi-weekly savings plan.
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For me I struggle with scaling back my goals, I want it all at the same time.
I am currently moving money every 2 weeks to a savings account set aside for my car and pet health. I have one I set in case I lose my job so I am working to save 12 month income. I also have another for house maintenance. Finally a 4th one that is high interest. Once I have the car/pet set (one of my cats has dental surgery scheduled for Feb 2023) I will push to the high interest account.
Well done, Your savings plans are all linked to important goals. It helps keeping the funds separate and yes you can always divert the funds into a higher interest account once you have completed your initial goals
Right now my top savings goal is a down payment on a home. I have increased the monthly amount every year by $50. Outside of this I do 3 savings challenges each year and split that among my other sinking funds to replenish them.
Great job! We are super excited about you becoming a homeowner soon! The challenges are a fun way to stay on track and make it fun at the same time. Keep us posted on your journey.
Thanks alot @ Bola for this informative ✍️ tips looking forward 🙏💥⏩⏩⏩
More to come!
August 26, 2023
I Just started saving $50.00 biweekly for emergency fund.
You’ve got this! Well done!
Great tips 😊
Thanks for the great tips..
Our pleasure! Thank you for being here, we appreciate you sharing this journey with us.
Great tips!
Thanks for being apart of this community. We appreciate you.
Thank you
Thank you for watching our video!
Thanks again Bola!
Any time! Thanks for watching our video and for doing the work on your journey to achieve financial freedom.
I have a biweekly saving plan this video really helped me
YAY! So happy it was helpful. Well done for building your savings.
Great tips Bola!
Thanks you so much for being here!
Do you recommend the same thing if you don’t get paid monthly but biweekly?
It's more convenient to save bi-weekly if you get paid bi-weekly coz you can predetermine how much of your bi-weekly pay cheque goes to savings.
You can adjust the frequency based on your pay schedule.
No savings plan trying but struggling to get started
Start small, $20 or $25 dollars a month. Have that automatically deducted and put into an account you cannot access easily. Maybe a money market fund. Then every month add $5. Once you've established this habit and become disciplined, and you see your money growing after a few months, trust me this will be a great motivation for you to continue saving and increase your savings. I'm sure you can put aside $25 dollars a month. I put away $20 dollars earning less than $100/month (I haven't had a job in the last year).
Such great tips! Thank you!
Everything that KAP849 said. Stay small and be consistent. Increase the amount every month or quarter. The most important thing is that you save something rather than nothing.
No have no savings plan I don't know where to begin I'm a single mom of 3
Start by doing an automatic transfer to an account that you dont have easy access to withdraw from
Start small ex $25 each pay most times the heart is willing but the pocket is weak
Try not to spend your tax refunds if you have to spend only a portion
So for every extra income earned pay yourself a percentage ex 10% or more & spend the rest if
Once you start and see the money piling up you want to keep adding more
Watch as many videos about savings and do self study to educate yourself on financial literacy. It’s possible. You can watch more of her videos.
@@kaybae2870 💯.
Forget "Single mum with X kids" unless you are receiving helpful advice from someone in a similar situation. You are "a lady that wants to start saving" and needs help. Just like someone else said in the comments, start small, just $25 a month and work up. You got this!
You can start a side hustle
Im.chodimg to prosper 5000 I'm 6 months for a total of 10,000 while paying off debt
You can do it.