52-Week Savings Plan for Army Soldiers

military savings plan

52 week savings plan for military members

Let’s face it, in this economy, it is very difficult to prioritize our money to stash a little away for a rainy day.  Between bills and other obligations, our money is stretched far and wide.  Saving a little dough often seems impossible!  However, we still recognize that it is extremely important to maintain financial stability as Soldiers and leaders.  Do not fret!  Here is a simple 52-Week Savings Plan that will help you put away almost $1,400 is just 52 weeks!

Here’s how it works: Simply begin on the first week of the year.  Pick a date, let’s say…Friday.  That is our “deposit” day.  On Friday, the end of the first week, we will take just $1.00 and put it into our savings account.  The next Friday, we will put in $2.00, giving us a total of $3.00 is our savings.  This will continue on each week for an entire year… It breaks down to something like this:

  • WEEK        $ DEPOSIT          $ TOTAL
  •      1              $1                       $1
  •      2              $2                       $3
  •      3              $3                       $4
  • ………………………………………………………….
  •     32            $32                   $528
  • ………………………………………………………….
  •     52            $52                $1,378

Simple, right?  In just a matter of 52 weeks, you are able to squirrel away a little over $1,300 and the most you had to take out of your disposable income was $52!

There is also a way to really build that bank account that works on a similar system that my Father used to joke with me about. And, you only have to start with 1 penny and you can be a $ millionaire in 1 month. Put the penny in an account and double the amount in the account each day for 30 days. So, day 1 is 1 penny and day 2 is 2 cents. Day 3 is 4 cents, day 4 is 8 cents, so on and so forth.

I challenge you to do the math and see how much you have after 30 days.

FINAL THOUGHTS:  The first plan is a very simple savings plan that provides a decent yield.  However, feel free to modify it!  Personally, I put my money into a variable rate CD from USAA that allows you to make contributions throughout.  You could even double what you put away each way if you like!

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9 thoughts on “52-Week Savings Plan for Army Soldiers”

  1. Excellent post on 52 week saving plan for army soldier. I am really executing this reserve funds plan at this moment to set something aside for a vacation. This is an incredible procedure when you need to squirrel away a little money for a particular objective, for example, an excursion or another adornment for your auto. I have even persuaded the GF to begin hers also!

  2. This seems to be a good plan, but what I have found is when people get into it, they don’t keep up when there has to be more put in, especially for those who are living paycheck to paycheck.

    For myself, I find that putting a basic percentage away every week is a better system. Even if a person was to just put 5% away weekly and not touch it, it would add up very quickly. Lets say a person earns a basic and simple $500 a week. 5% = $25. Putting $25 a week adds up to $1300 a year. That puts it all at an even amount weekly. You take it out before you even realize you have it. Doing it into a savings from your direct deposit; you won’t even realize it’s gone.

  3. I am actually executing this savings plan right now to save up for a trip to Ireland. This is a great technique when you want to squirrel away a little cash for a specific goal, such as a vacation or a new accessory for your car. I have even convinced the GF to start hers as well!

  4. For better visibility on how much I was spending I started to use cash again. A bonus to that was the jingle in my pocket. All of my change went into jars. When it was time to cash in there was a couple hundred dollars in there. I paid for my entire deployment going away party with that change.

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