Weekly Savings Plan: How I Plan to Save for Our Trip to Brazil (Part 2)
In my previous post, I calculated a total of around 250k PhP for airfare and pocket money for the husband and I to attend our International Thanksgiving in Brazil and to spend at least a month in the neighboring countries in South America.
I knew we have about 12 months to prepare, but in order to possibly get a low-cost fare, we should book months before April (Note: This was eventually moved to an earlier date). I scheduled 6 months to save for the airfare and the remaining months for pocket money.
150,000 ÷ 6 months = 25,000 per month
I still didn't know at that point where to get 25k per month since Miggy's amortization is much lower than that. But I want it! I never experienced setting aside this much in my entire life. But with Gods help, I will try hard to save every centavo I could because the 150k airfare is just an approximation based on historical data. It could be higher than that. And 25k PhP per month should be the minimum, otherwise I will risk the possibility of making tipid (frugal) for us to save but eventually being unable to buy tickets because were still short of money.
To further simplify things, I want to try the method of saving weekly even though the salary comes twice a month. Why? I read it somewhere and you know the saying, If its from the internet, then it must true. And by the way, how do you define #sarcasm ?
After a very brief budget deliberation with myself and several taps in the calculator, I came up with this amount of savings:
5,600 per week for 27 weeks, deposited to a separate bank account every Friday. Thursday if Friday falls on a bank holiday.
I can't remember exactly why I stretched it to 27 weeks instead of 26 weeks (6 months = 26 weeks). I did all these on a Tuesday and planned to deposit the very first weekly savings amount on Friday of the same week, which was April 10, 2015.
I'll continue the game plan in my next post. I'll share with you how I plan to simplify the steps in this 27-week journey to save for airfare.
I knew we have about 12 months to prepare, but in order to possibly get a low-cost fare, we should book months before April (Note: This was eventually moved to an earlier date). I scheduled 6 months to save for the airfare and the remaining months for pocket money.
150,000 ÷ 6 months = 25,000 per month
I still didn't know at that point where to get 25k per month since Miggy's amortization is much lower than that. But I want it! I never experienced setting aside this much in my entire life. But with Gods help, I will try hard to save every centavo I could because the 150k airfare is just an approximation based on historical data. It could be higher than that. And 25k PhP per month should be the minimum, otherwise I will risk the possibility of making tipid (frugal) for us to save but eventually being unable to buy tickets because were still short of money.
To further simplify things, I want to try the method of saving weekly even though the salary comes twice a month. Why? I read it somewhere and you know the saying, If its from the internet, then it must true. And by the way, how do you define #sarcasm ?
After a very brief budget deliberation with myself and several taps in the calculator, I came up with this amount of savings:
5,600 per week for 27 weeks, deposited to a separate bank account every Friday. Thursday if Friday falls on a bank holiday.
I can't remember exactly why I stretched it to 27 weeks instead of 26 weeks (6 months = 26 weeks). I did all these on a Tuesday and planned to deposit the very first weekly savings amount on Friday of the same week, which was April 10, 2015.
I'll continue the game plan in my next post. I'll share with you how I plan to simplify the steps in this 27-week journey to save for airfare.
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| Pocket mirrors that I plan to give as souvenirs to my sisters in South America :) |
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