I received this email from Intuit’s Mint.com this morning:
That’s all well and good, but you should be saving for the holidays all year! If you wanted to spend $900 on the holidays and started saving with just nine weeks left (which, granted, is better than nothing), you’d need to stash $100 per week, or about $433 per month.
If you’d been following Rule Two all along, saving for that Merry Rainy Day… you’d be saving $75 per month. That’s how you take a wrecking ball to that emotional roller coaster of cash flow you’ve been riding (“things are fine..BILL!…shoot! This again?!…”). $75 isn’t anything to sneeze at, but most of you wouldn’t even “feel” that going toward the holidays each month.
If you haven’t saved at all, take the advice and get cracking on it! But next time, save for 52 weeks—not nine. 🙂