Saving money can be very difficult if you don’t plan it out well. That is why I’m here to introduce to you the 52 Week Money Challenge. I’m not the first person who has thought of this concept that I’m about to introduce to you. Unfortunately, I don’t know the original source. However, my goal is to forward this great information to encourage and motivate you to save money for something you really want.
Let me explain this challenge. Take a look at the template below. It consists of 52 weeks and for each corresponding week, you will add that amount. So Week 1 = $1, Week 2 = $2, Week 3 = $3 and so forth. If you’re starting late, you can catch up by putting in the missed weeks or start now and end in January. To keep track of the weeks, I’ll be putting in money every Sunday and I’ll also keep this sheet inside the jar.
Variation 1: If you’re like every other person during the end of the year, there is an influx of spending (Christmas gifts, new winter tires, etc.) You can begin with Week 52 and work backwards. Do what will work best for your situation.
Variation 2: You don’t need to foot the whole weekly savings. Get your significant other or family involved. Split the weekly savings with someone who wants to be involved.
Variation 3: If your family can afford to do so, have your significant other do their own savings jar as well. Double the cash monies!
You can either make a goal or not, but it might be more motivating to make a goal for what you are saving for. By the way, if you follow the chart exactly, you’ll end up with $1378 at the end of 52 weeks.
Tip: Put your laundry money into the jar or change that you find in your pocket at the end of the day.
So what exactly do you need for this challenge?
- The template to help you keep track: 52 Week Money Challenge Template
- Jar or tub or whatever you want to put your money in. The Dollar Store could be a good option.
Good luck, everyone! Let me know if you decide to do this challenge with me.