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52-Week Money Challenge 2017 | Finance 2017

In accordance to my 2017 Major Goals, I am making to post to add some accountability, and to put in writing what my plans are for my finances this year.

My main financial goal this year is to finish the 52-Week Money Challenge, which I learned through a Facebook page, Peso Sense, and looking it up on the web, I also found it on the blog Kuripot Pinay. The simplest explanation for it is that you choose a base amount to save, (whether 10, 20, 30 etc), and start with that base amount on week 1, and multiplying it by the week # of the year. A year has more or less 52 weeks, and so by the end of the year, you should have x52 of your base amount. The most common base amount is 50-100, but I feel like that would be a bit too heavy when the mid-year comes, so I decided to start with PhP20. I am from the Philippines so I am using Philippine Peso as my currency. You can also use this for any currency, simply adjust it to what's manageable for you.

Here's what will my chart look like.

(photo from Kuripot Pinay blog)



So as you see, by the end of the year I should have a total of PhP27,560. Hopefully I can manage. *crossing fingers*

The money I'll get from this one will also be my "untouchable", meaning that I can't take any amount from it until the end of the year. It sounds really hard for me, and I pray to all the gods out there to help me strengthen my resolve. This will also be the money that I'll use to open a savings account for 2018. This will also be my Travel Fund, as my 2018 will be my Travel Year.

Of course, I would need a safety net, or an emergency fund. This will come from the PhP750 I plan to set aside every time I get cash. The total I'll get from this by the end of the year will be used to get my credit card.

I'd also like to continue my practice of saving all my coins leftover everyday, no matter how much the amount. This will be put in a separate container and I'll let myself take some amount from this part if the need arises. The total amount from this will be my Christmas Splurge.

Since I like Microsoft Excel so much, I made a table showing how my whole year will be. (Yes, I made my own PhP20 chart)



Here's my Safety Net chart. If I don't take any cash from this one, I'll have PhP18,000 by the end of the year. Not bad.



As for my daily expenses, I want to continue with a PhP200 daily budget. The coins I'll save will come from the left over from my daily budget.

Now that I have all of those in writing, I hope I can be better guided on how I manage my money and be reminded of how I want to spend my money. It's about time I get serious with this money thingy.

Happy New Year ~ !

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