The 52-Week Challenge: How To Save Almost $1,400 By The Year’s End
July 17, 2019
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Saving money is easier said than done. Whether you’re saving up for a vacation, or simply want to put money away for a rainy day, the seemingly endless expenses of daily life can certainly put a dent in our plans. If you’re looking for a simple, realistic way to save money, then the 52-week challenge will likely appeal to you.
Basically, the 52-week challenge is all about putting small dollar amounts away at the end of each week. Some people start by putting $1 away at the end of the first week, $2 away at the end of the second week, $3 away at the end of the third week, and so forth. Others choose to start the challenge by putting $52 away at the end of the first week, and decreasing the dollar amount each week from there.
Maybe you’re able to put away a few more dollars one week than the 52-week challenge has called for. And that’s great! The purpose of the challenge is simply to get you in the habit of putting away money on a regular basis. Even if the dollar amounts are small, you’ll still be saving. And those small amounts can add up to one big amount!
Transferring the money into a savings account each week is likely the easiest way to put away the money. But if you’re confident in your self-control, a simple envelope or piggy bank will also do the trick. You can find other 52-week challenges online based on your yearly income. However, the chart below is great for a starting place for saving.
