I'm pleased to announce that we're heading towards the school summer holidays very quickly. Great news for us kids, not so great for parents and carers!
There's so much to look forward to over the summer, apart from having time off, whether you are going on holiday or staying home, I am making sure my priority is saving my pocket money from now so I can use it over the summer holidays.
My school is breaking up for seven weeks - heaven, so I plan on treating myself every week throughout the summer. How you ask?
You can work yours out too. Providing I have done all my weekly chores, completed all my homework properly and hit my weekly targets, yes I have one of these :o(, I will receive £10.00 a week. If I start saving my money later this month (say 21st May), that will give me 8 weeks to save before I break up from school. Let's do the sums:
£10.00 a week pocket money x 8 weeks = £80.00
So I will have £80.00 to spend over seven weeks during the school holidays. This gives me:
£80.00 ÷ 7 weeks = £11.42 a week
This really isn't that much, but then I remember I will still be receiving £10.00 a week pocket money during the school holidays:
£10.00 a week x 7 weeks = £70.00
£70.00 received + £80.00 saved = £150.00
£150.00 ÷ 7 weeks = £21.42 available for me to spend every week, result!
I could top this up by using some of my micro-savings, but that's just plain greedy, but a good back up option nonetheless. I will also be checking the status of my dollars to add as a bonus if it works (read my previous article, then it will all make sense).
The most important point about all of this is I won't be touching my regular savings that I have been working on all year. It will stall for two months, but it won't be touched which is really important, because there is life after the summer holidays such as October half term, then Christmas, gosh it's tough being a kid!