January 14, 2018

52-week money savings challenge - backwards

52 week money savings challenge

This is a simple way to save money each week so at the end of the year you have extra money for holidays. This money saving technique comes with a twist though.

Even though we are a few weeks into the new year, you can still start now and get ahead of saving.

I am sure you have heard about the 52 week one challenge. For those that haven't, here is how it works. Every week of the year starting at week 11 you save the corresponding dollar amount.

Week 1 save $1.00
Week 2 save $2.00
Week 3 save $3.00
And so on...

At the end of the year you will have $1378.00.

It is fun and not too difficult. #1 and I did it and loved breaking (not really breaking though) open piggy right before Christmas to count the money. We could have easily put it in a separate checking or savings account, but it was much more fun putting actual cash in a piggy bank.

I think the one bad thing was that right around October, it started to become more difficult. We didn't always have the amount of cash needed so we would have to go to the bank. At some weeks we would forget and then get behind. And on top of that, there are more holidays, birthdays and traveling that tend to eat up extra cash.

So we decided to do it backwards. Instead of week 1=$1.00 etc, it will look like this:

Week 1 = $52.
Week 2 = $51
Week 3 = $50

That way when fall rolls around, instead of coming up with $1075 for Oct-Dec, we will be putting about $78 in the piggy.

I created a free printable of what this looks like. If you would rather do it the traditional way, you can Google 52 week money challenge and a ton of free printable will come up.


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