I hope you have taken the time to play around with the 52-week challenge template in my previous blog. Let me know if something is off or if you have another scenario you want included. At the end of the day, I created this template with scenarios to encourage more people to enjoy saving while at the same time creating the discipline.
A reader requested if I can do a template showing monthly saving. While I actually incorporate a few lines in my monthly budget for monthly saving and investing, I never really thought of putting a one-pager template. So thanks to Mega Curacha whom I met in the Pinoy OFWs in Singapore FB group for this request.
So, without further ado, download the template by clicking on this link: 12-month challenge
First scenario contains the 12-month challenge in an ascending order starting for example $100 in January and then increasing each month with additional $100 so that you will be saving $1,200 in December.
After 12 months, you will have $7,800 which is roughly 260,000Php depending on the exchange rate. But is it realistic to be able to save $1,ooo+ consecutively for 3 months? At the end of the day, it is up to you to define how much you want to save.
Second scenario assumes you will save the same amount on a monthly basis. Just input that amount and it will auto populate the information. Assuming you will save $200 on a monthly basis, you will be able to save $2,400 at the end of the horizon (estimated 81,000Php). This is what I usually do when I want to buy high ticket items or save for an overseas travel.
Third scenario contains the 12-month in descending order or reverse order where you will start in January with $1,200 and ending December with $100.
Play around with the template until you find the scenario that works for you, like changing the currency or the amount you will save on a monthly basis.
Good luck and happy saving! 🙂