New year, new business? Why not?
And like all good businesses, your building blocks would be a sufficient amount of capital.
If it’s still not enough, don’t fret.
If pursuing your dream venture is part of your list of resolutions, there’s no better time than to start saving now and when you do, you’re actually on your way.
Money is indeed fleeting, and at the same time, hard to earn, but thankfully, there are tons of tips and tricks to filling that empty piggy bank, some of which had already gone viral online.
Now that’s a good bandwagon to jump in!
Well, what are you waiting for? Start your entrepreneurial journey by learning and trying these money hacks:
52-week Money Challenge
You’ve probably come across this challenge many times on Facebook, long posts accompanied by photos of tables with lots of numbers, or even thick bundles of bills — and they’re actually taking the world by storm.
According to an article in theAsianparent Philippines, the challenge went viral in the United States which soon became a sensation in the Philippines. It has been localized by a number of online sites and pages, like the Kuripot Pinay and PESO SENSE. The latter even created modified 52-week challenge templates for couples, and parents and kids!
Intimidating, yes, that’s why you’ve never tried it? Oh but when you actually try to do it, it’s actually fairly simple.
Here’s the trick:
First, you decide on your increment, or by how much your savings will increase per week. It can be by 10, 50, 100, or 500. Your call.
Let’s say for example you chose 100. For week 1, you will put away 100 pesos as your savings. Next week, add 100 to your weekly savings, therefore you will put away 200 pesos. For week 3, 300 pesos and so on.
That will continue on until week 52, which is the end of the year — time to say hello to your year’s savings!
It’s still Week 1 of 2018 so if you want to try this out, do it now!
365-day Money Challenge
This new money hack was initiated by Apartment Therapy’s Brittney Morgan, who found herself having difficulty in keeping up with the 52-week challenge’s latter weeks, where you’re supposed to be saving in bigger amounts.
Here’s how she does it
On Sunday, $1 is saved, then $2 on Monday, $3 Tuesday and so on, until Saturday where $7 is put away. Come Sunday again, go back to $1, continue, and repeat next week. Do this until the year ends. According to her, you can save $78 more compared to the 52-week challenge if you do this for the whole 52 weeks of the year.
Now that you know these new tricks, go and take your pick, whichever you think would work best for you.
Keep in mind though, that it’s not always about how much money you can save from these strategies. For it to work, self-discipline and consistency is key.