Saving for a holiday can seem an impossible task without a proper plan. Formulating a proper plan can also be tricky as it may be difficult to choose a set amount to put away. Depending on your monthly budget, putting away a lump sum each month may not be feasible or easy to stick to.
Rather than break the bank each month, put away a weekly amount. This small-step action plan is one way to help you save toward a hefty lump sum by the end of the year. If you’re feeling the effects of Janu-worry, don’t fear- the first four weeks require a saving of only R100.
If putting away a small amount each week is more achievable than a monthly lump sum, here is a 52-week guide on how to save R13,780.
| Week 1 | R10 | Week 19 | R190 | Week 37 | R370 |
| Week 2 | R20 | Week 20 | R200 | Week 38 | R380 |
| Week 3 | R30 | Week 21 | R210 | Week 39 | R390 |
| Week 4 | R40 | Week 22 | R220 | Week 40 | R400 |
| Week 5 | R50 | Week 23 | R230 | Week 41 | R410 |
| Week 6 | R60 | Week 24 | R240 | Week 42 | R420 |
| Week 7 | R70 | Week 25 | R250 | Week 43 | R430 |
| Week 8 | R80 | Week 26 | R260 | Week 44 | R440 |
| Week 9 | R90 | Week 27 | R270 | Week 45 | R450 |
| Week 10 | R100 | Week 28 | R280 | Week 46 | R460 |
| Week 11 | R110 | Week 29 | R290 | Week 47 | R470 |
| Week 12 | R120 | Week 30 | R300 | Week 48 | R480 |
| Week 13 | R130 | Week 31 | R310 | Week 49 | R490 |
| Week 14 | R140 | Week 32 | R320 | Week 50 | R500 |
| Week 15 | R150 | Week 33 | R330 | Week 51 | R510 |
| Week 16 | R160 | Week 34 | R340 | Week 52 | R520 |
| Week 17 | R170 | Week 35 | R350 | Total | R13,780 |
| Week 18 | R180 | Week 36 | R360 | ||
The table serves as a starting point savings plan. You can adjust the weekly amounts according to your needs. Of course if you can save more, then you will end up with more at the end of the year.
If you prefer to save a quarterly lump sum rather than a weekly amount, the saving amount per quarter will equate to R3,445 to save R13, 780 by the end of the 12 months. If you want to save a monthly lump sum, you will need to put away R1,150 per month for 12 months to save R13,800.
Some months may be more expensive than others, with unforeseen expenses. It is not necessary to stick to the weekly amount. You can for instance, cross off week 13 in week 5, giving you some leeway in case of an emergency. Crossing off the value at the end of each week can help you stay motivated to meet your financial goal.
Image: Unsplash
