26 Week Savings Plan


26 Week Savings PlanSaving money is hard. Committing to a savings plan requires cut throat motivation and determination. Even setting up automated transfers can seem like a daunting task, and squirreling away money minimizes that instant gratification of spending your hard-earned money.

However, without having a robust savings, so many crucial purchases are out of reach. When it comes to holiday shopping, you struggle to afford anything on your loved ones’ wish lists. Renovations and home projects are impossible without a sturdy nest egg to fund your ideas, and you end up arriving empty-handed to major life milestones like baby showers and weddings. Worst of all, if catastrophe strikes, you have no cash to rely on while you get back on your feet. Savings plans are not only essential for adult living, they’re also lifelines.

It’s easy to tell ourselves that we’re “bad at money” as an excuse for never establishing a savings plan. YOLO, right? What’s the point of saving money when momentary happiness depends on bagging that $500 outfit? Yet, the inability to save has become a national epidemic. According to a Bankrate.com survey, only 37 percent of Americans have enough funds in savings to pay for an unexpected expense. Sixty percent said they would cut back on spending in order to cover those costs, and 12 percent would rely on credit cards in the case of a financial emergency. In a survey conducted by Google, 62 percent of Americans said their savings accounts have less than $1000. Twenty-one percent of those surveyed said they don’t even have a savings account. Back in 2015, the Pew Charitable Trusts found that one in three Americans had absolutely no savings, and for folks making over $100,000 a year, that figure was one in 10.

With low CD rates and high-yield savings accounts only offering unpredictable and often stingy rates, there’s very little appeal in opening a traditional savings account. However, there are other creative and ad-hoc approaches to savings that are turning out effective results. Take for example, the 26-week savings plan. In just six and a half months, you can save $1,000 with very little effort.

The 26-week plan is both easy to follow and requires minimal capital to get started. The first week requires a deposit of $26, the second week $27, the third week $28, and all subsequent deposits for the next 23 weeks are made with dollar increments. That means by the middle of the fourth month, you will already have $416 in savings.


EYF 26 Week Savings PlanThe 26-week plan is easy to remember and feasible for people from a wide variety of income brackets. In a matter of six months, you’ll be able to accrue enough cash for a summer of weddings or to install new floors in that bathroom or kitchen. Schedule your 26-week savings plan accordingly. If you know that you tend to spend more money during the holiday months, then start your plan in May, so that by the time November rolls around you’ll be walking tall on Black Friday.

Read more of our informative articles:

Join our newsletter


Subscribe to get the latest "Engineer Your Finances" content via email.

Powered by ConvertKit
About the author

Join our newsletter

Subscribe to get the latest "Engineer Your Finances" content via email.

Powered by ConvertKit

ModestMoney.com Top Finance Blogs


SSCP   CAS-002   9L0-066   350-050   642-999   220-801   74-678   642-732   400-051   ICGB   c2010-652   70-413   101-400   220-902   350-080   210-260   70-246   1Z0-144   3002   AWS-SYSOPS   70-347   PEGACPBA71V1   220-901   70-534   LX0-104   070-461   HP0-S42   1Z0-061   000-105   70-486   70-177   N10-006   500-260   640-692   70-980   CISM   VCP550   70-532   200-101   000-080   PR000041   2V0-621   70-411   352-001   70-480   70-461   ICBB   000-089   70-410   350-029   1Z0-060   2V0-620   210-065   70-463   70-483   CRISC   MB6-703   1z0-808   220-802   ITILFND   1Z0-804   LX0-103   MB2-704   210-060   101   200-310   640-911   200-120   EX300   300-209   1Z0-803   350-001   400-201   9L0-012   70-488   JN0-102   640-916   70-270   100-101   MB5-705   JK0-022   350-060   300-320   1z0-434   350-018   400-101   350-030   000-106   ADM-201   300-135   300-208   EX200   PMP   NSE4   1Z0-051   c2010-657   C_TFIN52_66   300-115   70-417   9A0-385   70-243   300-075   70-487   NS0-157   MB2-707   70-533   CAP   OG0-093   M70-101   300-070   102-400   JN0-360   SY0-401   000-017   300-206   CCA-500   70-412   2V0-621D   70-178   810-403   70-462   OG0-091   1V0-601   200-355   000-104   700-501   70-346   CISSP   300-101   1Y0-201   200-125  , 200-125  , 100-105  , 100-105  , 1Z0-803  , 400-051   EX300  , CISM   100-105  , 000-106   400-201   642-732   220-902   70-410  , MB6-703   810-403   70-243  , CAS-002  , AWS-SYSOPS   70-462   70-410   2V0-621   LX0-103   70-461  , 220-902   1Z0-144   70-178   70-270   350-080  , 1Y0-201   1z0-808  , NSE4   102-400  , ADM-201   SSCP  , 200-125  , 640-911   000-104   640-692   300-320   350-060   000-089  , 000-017   1z0-808   700-501   1Z0-051  , 70-177   M70-101   300-209   70-461   3002   N10-006   VCP550   70-487   300-320  , 3002   700-501   NS0-157  , 1V0-601   CAS-002