One of my friends posted a link to a 52 Week Money Challenge on Facebook, and I thought it would be a fun way to save some money in 2014. One of my blog commenters was nice enough to let me know that this challenge was started by Kassondra Moreland and you can find out more on her Facebook page.
If you haven't heard of this challenge that's circulating on the web, how it works is that for every week of the year, you would save an amount corresponding to the number of the week. For example, in Week 1, you'd save $1, Week 2, $2, Week 3, $3 until you've reached 52 weeks. If you can complete the challenge, you'll have saved $1378 by the end of it.
Now I still think it's a good idea to set aside a regular budget for savings but that would depend on your financial circumstances. If one of your goals for the New Year is to save money, then this 52-Week Money Challenge seems like a great way to get started!
To help visualize the amount of money you'll be saving and to keep you on track, there are a lot of different charts online, but I thought I'd make my own!
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| Click to Download This Free Printable! |
I added checkboxes, a space for the date of "deposit" each week, and my 'Money Saving Goal.' Whether your goal is to save for Christmas gifts, a trip, or just to put money in your bank account at the end of the year, the challenge is a good way to teach young people the value of saving and is something that families can do together.
And speaking of deposits, I'm just going to use a simple glass container that I already had from Ikea, but you can use anything from a shoebox, to a piggy bank, to a an empty jar.
If you'd like to take part in this challenge, just click the link under the photo above to download the PDF for free.
If you don't live in the U.S., you can still take part in this challenge using the blank 52-Week Money challenge chart I made below. You can just write in whatever amount and in any currency that you want to save per week.
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| Click to Download This Free Printable! |
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Thank you, it looks great!
ReplyDeleteThanks too and hope it helps you out! :)
DeleteLooks really great and useful. Thank you!
DeleteAmanda
Thanks Amanda! Glad you like it. :)
ReplyDeleteI'm doing it! I'm so proud of myself. I tend to buy not-so-necessary stuff, so this is one of the ways of restricting myself from plurges.
ReplyDeleteSome ideas for those who plan on doing the callenge – as you can see the last 4 weeks of the year you have to save 200$, that is also Christmas time, so you may need those money for gifts, and you may not be able to accomplish the challenge. I decided on doing it backwards – puting 52$ on first week, 51$ on second, etc. This way in December will cost you only 10$. Another idea is not to do the weeks in order, but random, according to your income. If you combine the sums the right way, you'll end up saving the same amounth every month.
Good luck to all who accepted the challenge (me included). Let's fill in that piggy bank!
Greetings,
Domestic Cleaner Wimbledon
Good for your Merry! And thanks for the great tips too. :)
DeleteI just now found out about this from a friend on another 'social network'... I read your ideas.. WOW!!! I tend to be an absolute 'Impulse Shopper'.. strange for a man, but I've been "Mr. Mom & House Husband" for over 24 years... reading your ideas there in your post.. hit me.. my mind scrambled and I found a great way to save and do the challenge. Thank you. I hope to come back at the end of the year and announce my ::hopeful:: Success.
DeleteThank you so very much!
You're welcome and good luck with it! :)
DeleteI came across this idea for the 52 Week Money Saving Challenge from another link and happened chance to end up on this link. I know this is a late entry, but would like to commend Merry on her challenge! Hope you're still continuing to be successful with the money saving challenge. You've provided some good ideas. I'm going to give this a try, it sounds like a great idea and plus, may be an encouragement for individuals to develope a money-saving habit. Yhanks for sharing your ideas and thanks Monica for posting the chart to share!
DeleteIt would be easier for some people to divide evenly and easier to manage. It comes out to $7.27 per week.
ReplyDeleteGood idea
Delete$7.27 x 52 is only $378.04. To save $1378 a year divide by 52 and save $26.50 a week.
DeleteThat's correct. $1,378. divided by 52 would equal $52./week.
DeleteThanks Joy for your idea. $26.50/week for 52 weeks would allow one to reach their goal of $1,358.
DeleteI will start this backwards while I am working. When I am unemployed during the summer is when I will do the beginning part. End results will be the same :)
ReplyDeleteSounds good! Have fun with it! :)
Deletei am going to try this. but i only get paid once a month. and it not that much.
ReplyDeleteGood idea...any savings is better than no savings! :)
DeleteI struggle every Christmas, I won't anymore :)
ReplyDelete*The 52 week Money Challenge was developed by Kassondra Perry-Moreland. Find it also on Facebook at Kassondra’s 52 Week Money Challenge
ReplyDeleteThank you for letting me know! I've linked to her FB page.
DeleteI shared this challenge on my blog: www.arbitrarysimplicity.wordpress.com and linked back to this page. Thanks!
ReplyDeleteThanks so much! :)
DeleteGreat idea!! I have a personal finance blog and I'll share this idea for sure as I think it is a great way for people to try to save. The key is consistency. If you want to be motivated, encouraged, and even rewarded during your journey with this 52 week money challenge like my FB page www.facebook.com/forwardfinancialprofessionals. I'll be doing contest and prizes as we make this journey together!
ReplyDeleteThanks! Good luck!
DeleteI am SO excited for this challenge. I am not good at saving money but this seems actually doable. Linking to this on my post http://www.fivespotgreenliving.com/top-10-healthiest-new-years-resolutions
ReplyDeleteThank you! Very cute resolutions post! :)
DeleteIt's a very cool chart, but it would make so much morse sense to do it backwards so you aren't putting away $200 in December. Who has extra money around the holidays? ;)
ReplyDeleteI understand what you're saying! :D Feel free to do the challenge in whatever way makes sense to you! :)
DeleteI'm doing this saving idea for Christmas. I usually get most of my presents the day after Thanksgiving, so I started the week after that. So then you are doing the beginning in Dec. (like some suggested), and then I'll be done for Thanksgiving to get gifts for Christmas.
ReplyDeleteGreat idea!
DeleteI stared this last year and had to dip into it lol I put some back so I'm going to just start from the beginning again and see what I can save. I get paid every two weeks so this was perfect. This is part of my trip money for 2016 yeah. LOL
ReplyDeleteLol..that's ok! Your'e trying and that counts! Good luck with it this year. :)
DeleteI love this challenge this is something I have to continue doing
ReplyDeleteHi, I just saw this on your YouTube video. I know its a lil late in th year to start but it's never to late to start a challenge specially for saving! I'm gonna start this next week! Thanks
ReplyDeleteHi, I just saw this on your YouTube video. I know its a lil late in th year to start but it's never to late to start a challenge specially for saving! I'm gonna start this next week! Thanks
ReplyDeleteI'm starting new years day !!!!
ReplyDeleteGood luck with it! :)
DeleteTHANK YOU!!!! This is JUST what I was looking for, wanted a blank one! So cute and colorful to!
ReplyDeleteMeredith, DecorateTheWorldToday.com
We need to adjust your budget for extra income. Include taxes and other things before you start spending your money,This will help you to save more in banks and banking code give you more information about transfer money online.
ReplyDeletethank you
ReplyDeleteThanks for this useful information. I would like to add if you can earn money online by spending some time. why you need to care about saving.
ReplyDeleteI love this so much. :)
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i like this
ReplyDeleteThanks so much for this information. I have to let you know I concur on several of the points you make here and others may require some further review. but I can see your viewpoint. budget
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