F is for Frugal

I would like to note that this is not a literal Php50 per week savings. It is a Php50 increment savings per week. On your first week, you drop Php50 on your container and on the next it would increase to Php100, then Php150 and so on until you end the year accumulating Php68,900. More of you use the Php100 increment savings. Lesser of course if you want the lesser amounts.

Here is the original template from Minimum Compliance. The good thing about this is that the template is just a guide. Should in any case you will get more than what you expect on your salary say due to Tax Returns/Monetary Bonus or Incentive, you can directly drop it in and cover the total number of weeks the amount is worth.

For example, for the Php50/week amount, say you get your salary today at Php10,000. Deducting all forms of bills and a bit of luxury, you have an extra Php2000. According to the template, this week Jan 6th to Jan 12th you will drop Php100. You can drop the Php2000 and crash out 3 weeks worth of savings. Or to make it rather easier for not-so-Math-wizards like myself, you can crash out Week 20th May 12th to May 18th where you are suppose to contribute Php2000.

I’d like to acknowledge as well that on the second half of the challenge, the amount gets rather bigger and it may be an obstacle to face when this happens. You have the liberty to slide down on the amount you save. Say, less Php1000 and just make up until the next payday. You have all autonomy to do this at your own pace. The template is just a guide.

• Glue the template to your jar and use double-sided tape to keep it clean. You can go old school with scotchtape and use a permanent marker to crash out the weeks that past.

• If you really want to be motivated, decorate your jar with photos of the things you will buy once you get the money. Pictures of the latest gadget you have been eyeing for or views of the city you wish to visit. Heck, if you even go for the Php100/week, at the end of the year that is more than enough to pay for the down payment for a second hand car. Whatever motivates you should be plastered. It’s kind of like a vision jar of sorts. The decors also covers the money inside to hide away from prying eyes

• Hide the container from people and make sure to keep it hidden at all cost. If you get weak at the sight of cash, you can deposit it on a safety deposit box or a trusty friend to keep it in lock and key.

• I am doing this with a friend and the covers of our container is slathered with super glue, then we wrapped it with crepe paper and have each other sign it with the date we started the challenge. This ensures that you can never open the container at any cost. You can also bet on each other that if someone touches or uses their money and gets caught will be punished in any shape or form. Whatever floats your boat.