This is our Travel Money Jar. Today, it is nearly empty but there is no reason to be sad. After all, this empty Travel jar means that our travel memory banks are full!
You see, it’s nearly empty because we used its former contents to fund our recent trip to Puerto Princesa, Palawan. And what an amazing trip that was!
We got a really good deal on airfare for this trip back in November 2017. As soon as I learned of PAL’s seat sale, I let Mom know right away so we can take the trip together. Just a couple of months prior to the trip date, I reached out to an old classmate of mine from grade school who is in the Tourism Industry in PP. She hooked me up with a local travel agent to make arrangements for the hotel and tours.
52 Weeks Money Savings Challenge
A couple years ago, the 52 Weeks Money Savings Challenge became viral.
The concept: Save an incremental amount of money weekly, and enjoy your lump sum savings at the end of the year. One can start with a small amount that increases each week (50 pesos on the first week, and increase the amount by PHP 50 increments weekly), or start with the biggest amount, and work your way down.
It’s our second year now of doing this challenge. We chose to specifically allocate the savings for our Travel fund, and physically stash cash in a repurposed jar of Mayo.
The husband and I are both doing the challenge, so we started with 50 pesos each at the very beginning. If we miss one week, we make up for it on the next. To stay on top of the challenge, we use the 52 Weeks Money Challenge App.
Both the husband and I have the app on our phones, so every week, I enter the actual amount we each deposit. If we needed to borrow cash for emergency spending in the house, we record it through the app too.
To start off, you will need to enter the following:
- Motivation/Goal – Travel, a new TV, or Downpayment for a new house, or whatever you fancy
- Saving Method – Start low, or start high
- Base Unit/amount – we chose 50 pesos, to get a substantial amount for our travel goals, but you can choose a lower amount depending on your end goal and capacity.
- Reminder Time – This is my favorite feauture because you can set a day and time at which the app reminds you to save weekly!
Every once in a while, I count the actual cash in the jar to make sure the totals tally with what the app tells us we should already have. It’s been a real good way to keep track of things and not rely on just memory – Did we put money in the Travel Jar this week?
Doing this challenge, and physically seeing the money stack up inside our Travel Jar, has really kept us on track with saving money for our travel goals – without necessarily taking away from our regular budget.
As a couple, we haven’t done that much travelling – it just wasn’t a priority in the past. But it is also something we are changing.
How do you save up for your travel goals?
Are you also doing the 52 Week Money Saving Challenge? How is your experience, so far?