Taiwanese man saves NT$80,000 in 1 year with '365 Savings Method'

Taiwanese man uses '365 Savings Method' to save over NT$80,000 over one year

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(Image from 爆廢公社)

(Image from 爆廢公社)

TAIPEI (Taiwan News) -- A Taiwanese man on New Year's Day shared photos on social media showing over NT$80,000 in cash he had managed to save over the course of 2018 using a simple savings plan.

On New Year's Day, a male member of the Taiwanese Facebook group Baofei Commune (爆廢公社) surnamed Lee (李) shared photos of stacks of coins and piles of cash he claims he had been able to hoard over the past year amounting to NT$83,306. Lee credited the "365 Saving Method" for his success.

The "365 Saving Method" consists of saving one NT$1 on the first day, NT$2 on the second day, and continuing to increase the amount of money saved each day based on the number of the day it represents in a year, until 365 is saved on the last day. Based on this method, Lee should have been able to save NT$66,795, however, he actually saved more because he was able to set aside additional money not required by the technique.

Lee also announced that for this year, who will try the "52 Week Saving Method," which involves saving NT$100 in the first week, NT$200 in the second week, and increasing the amount saved by NT$100 every subsequent week for a total of 52 weeks to cover a whole year. With this method, it is possible to save NT$137,800 within a year.

Using the "52 Week Saving Method," a person can save NT$1 million within seven years.


Stacks of coins and piles of cash saved by Lee. (Image from 爆廢公社)


Stacks of coins and piles of cash saved by Lee. (Image from 爆廢公社)