Travel Savings Plan: 365 Day Savings Challenge

​There is this challenge I had seen floating around social media that’s been called the “365 Day Savings Challenge” and I think I’m going to try it! This challenge suggests that you add money into a jar with the daily amount of each day of the year. For example, on the first day of the New Year, you would add .01 cent, on the second day of the year you would add .02 cents, on the third day you would add .03 cents, and so forth. After pinching in your coins for the year, there should be a total of $667.95!

Aside from a personal savings plan, I thought this challenge could be totally doable for almost anyone! The most that you would have to add into the jar in a single day would be $3.65. Now this year (2016, a reminder to those who are still writing 2015 on paper) is obviously a leap year with a total of 366 days so it is up to you if you decide to add an extra $3.66 to the jar.

This challenge can really be a savings for just about anything that you want to save for in a year’s time frame. $667.95 can go towards a loan, a new big screen TV, or towards my favorite pastime: traveling. Whether it be for the price of a plane ticket, partially for a hotel, or just spending money during a big trip, you’ll be glad you were able to save this chunk of cash in such an easy way. 

The key to this challenge, such as any challenge, is to stay committed. It seems easy enough to add coins into a jar each day but being able to resist taking some extra cash out before the year ends is where it gets tough. It is just as easy to add the change in as it is to take out so don’t bother saying “it’s just a few bucks, I’ll add it later”, you’ll need to stay committed.

Instead of marking off a calendar each day the coins or bills that are added, I created a spreadsheet that breaks the daily amount down into weeks so I would only have to add the amount once every week for the year. 

​If you’re as forgetful as I am, I would suggest creating a reminder on your phone to remind you that your change is needed in the jar. If loose change is hard for you to find, try creating an additional online account from your bank (probably another free checking account) to set up online where you can transfer the amount each week.

​Whichever your travel savings plan for this year may be, I hope that you are successful in accomplishing your goal and seeing the world!