What is the 52 week money challenge? The concept is that you save a little each week, starting with $1 and adding $1 to it each week. So week 1 you save $1, week 2 you save $2, week 3 you save $3, etc. At the end of the first month you have $10 saved, at the end of the second month you have $36 saved. Doesn’t sound like much, but at the end of 52 weeks (1 year) you have $1378 saved!
The most you ever put away on any given week is $52 and that’s not until the end.
Or you can start the savings plan in reverse. Start with $52, then $51, then $50, etc.
I’m actually going to do this two-fold. I’m going to put just as much in savings as I put back for our cruise.
What are you saving for? A trip? A car? A rainy day? Share with us and we can encourage each other as we go!
You can start this plan whenever you want and that would be your week 1.
We are on Week 19: Put back $20 this week for a total of $210 saved.
Going in reverse? It’s Week 33: Put back $33 for a total of $850 saved. Why go in reverse? As a reader on Facebook said, it would be easier to put a lot back now instead of at the holidays.
Don’t forget to let us know what you’re saving for!