|
The 52 Week Savings Challenge
Looking for an easy way to start saving money in the new year?
 At Chelsea Groton Bank, we strive to help our customers meet their financial goals and we know that getting into a savings habit can be difficult. So, we've provided two easy-to-follow Chelsea Groton savings plans – a 52 Week Savings Challenge for those interested in contributing funds each week, and a 26 Week Savings Challenge for those paid bi-weekly, who prefer to contribute according to their pay schedule.
Here's how it works:
Click here to download and print Chelsea Groton's Weekly Savings Challenge cards. They are also available at each of our 14 branches.
If you're interested in weekly contributions, follow the chart on the 52-Week Savings Challenge side. You'll start by saving one dollar in the first week of the year and increase your contribution by a dollar each week until you contribute $52 in week 52. By the end of the year, you'll have put away $1,378.
If you're interested in bi-weekly contributions, follow the chart on the 26-Week Savings Challenge. You'll start by saving three dollars in the first week of the year and increase your contributions in three dollar increments every other week until you contribute $78 in week 26. By the end of the year, you will have saved $1,053.
Tips for success:
Set a goal.
It's always easier to save when you have a goal in mind. Whether you're starting your rainy-day fund or saving up for a vacation, knowing there is a reward at the end of your efforts will help you stick with the plan.
Take the challenge with a friend, sibling or spouse.
When people are held accountable by writing down their progress and sharing it with a trusted friend, they are 33% more successful than those who attempt to achieve goals without a partner.
Be consistent.
Try to deposit your money on the same day every week. It will be easier for you to succeed if you're consistent.
Have fun!
|
