I borrowed this idea from Scott Parker's blog, where he came up with a doable plan to save for a trip to Disney. Our challenge is for any or all of our trips - not just Disney. You choose the trip you want to save for!
Here's how it works:
For each week of the year, you'll deposit that amount of money into your savings. For Week 1 you'd deposit $1, for Week 2 you'd deposit $2, all the way to Week 52, where you'd deposit $52. Or, some people recommend doing it backwards so that you begin with depositing $52 and end the year with depositing $1. Whichever way you do it, at the end of 52 weeks, you will save a total of $1,378. That's enough for a family to attend one of my bigger trips and camps, or a lot of smaller field trips and overnights.
Since we're already well into the year, we'll have some catching up to do, but hopefully it won't be too painful.
Fridays will be our benchmark (the banks are usually open later, so we'll have no excuse to avoid making our deposits!). Friday, January 3 is Week 1.
Want to join us? Just post in the thread each week when you've make your deposit. Let's see how many of us can make it over the long haul!