Do You Pay Yourself First?

Let’s face it: saving money is a challenge. It doesn’t help that we live in an “I want it now” society. Oftentimes we pay our bills, and whatever is left is our “fun money.” But we’re forgetting the most crucial bill to pay: the one we owe to ourselves. We’re so busy giving money to the utility company, the coffee shop, our favorite supper club, etc., we forget to pay ourselves.

Here at Fox, we want to change that mentality with the 52 Week Savings Plan.

How the 52 Week Savings Plan Works

The first thing to do is download our handy chart. Then it’s time to start saving. Here’s the gist of it:

• Week One: save $1. Easy, huh?
• Week Two: save $2. Still pretty easy.
• Week Three: save $3. Ok, that’s one tall cappuccino.
• Week Four: save $4. I see what’s happening here…
• By the time you get to week 52, you’ll have saved $1,378!

Make the Savings Plan Work for You

For some, this plan will seem like a piece of cake. For others, it’ll seem like climbing Mount Everest. We’re not here to watch you fail. Tailor the 52 Week Savings Plan to your needs.

Some Tips

• If doing the plan with dollars is too daunting, try it with quarters. By Week 52, you’ll have $344.50 saved! Dimes, nickels, and pennies will get you results, too!
• Looking to save even more money? Double the savings plan. At the end, you’ll have saved $2,756.
• You don’t have to follow the plan in order. Want a more immediate result? Start from the end! Or, jump around the chart, crossing off the weeks as you go along. You may find it easier to save higher amounts of money at different points in the plan.
• Put your money into a sub-savings account. It might be tempting to dedicate a glass jar to stash your cash, but putting your money into its own separate savings account will tempt you less (stealing a dollar here and five dollars there adds up!). Are you a Fox Communities member? You can create a sub-savings account with our Online Banking and have your savings automated.

We know you can do this. And if you’re looking for some inspiration, follow along with us in our blog!