As I mentioned last time, we have a savings campaign going on in our household. If we can stick to it, we will hopefully begin to fill the $5,000 hole in our savings account while enjoying the logical byproduct of less clutter in our house.

Next month marks 17 years since we paid off our previous house and became officially debt-free. We have only been able to stay that way by the grace of God and by living simply. A savings account also figures prominently, because when you’ve committed to being debt-free, you must have some cash set aside for emergencies of all kinds, whether it’s a $100 repair to your car or a $3,000 furnace because you like to stay warm in the winter.

We save any windfalls, dividends, tax refunds and other cash infusions that may come our way, and we’ll continue to do that. But in addition, this year we’re trying something else to help rebuild our savings account.

Recently I saw a chart in a newspaper ad for a local credit union. They’re offering an account similar to a Christmas club account; for those who aren’t old enough to know what a Christmas club account is, it’s when you deposit a specific amount in a special bank account every week so that by Christmas, you have a nice chunk of change with which to buy Christmas gifts without using your credit card, therefore not going into debt.

This account is a little different. You pick a day of the week and commit to making a deposit into the account on that day every week for a year. The first week you deposit a dollar. Easy enough, right? The next week you deposit $2, the next week $3, etc. By the end of the year, you’ll be depositing $50 or so a week, but you’ll end up with a balance of $1,378 plus interest.

We’ve decided to follow this plan. We’ll probably feel those $50+ deposits at the end of the year, but that’s my husband’s busy season, and my books usually see a bump in sales in the fall and winter anyways, so those deposits shouldn’t be too painful. Besides, it will feel good to know we’re making headway on rebuilding our savings….hopefully before something else breaks around here!