Every time a new year comes around, people come up with different ways to change the way they live. Some promise to get into better shape, some promise to quit their jobs and some pledge to increase their savings.
Little do these people know, you can make the change you want in your life without waiting for the new year to roll in. If you’re serious about making that change, do it today. And, if saving your money is the kickstart you want to get into, then try the 52-week money challenge to get going.
The 52-week money challenge is a fun way for you to get started on saving money. The concept is simple: on the first week, save $1 and for every succeeding week, increase it by one dollar.
So, that means $2 for the second week, $3 for the third week, etc. By the time you reach week 52 of the challenge, you’d be saving $52 a week, for a total of $1378 as illustrated below.
The challenge itself is good, because it makes it feel like a game. The problem is that it can feel a little too much, especially when you reach the last few weeks. Luckily, there is an alternative to it where you increase the savings by 25 or 50 cents, depending on which one you will be more comfortable to use.
Sometimes, life can get in the way of our goals. And if you’re determined to accomplish the 52-week challenge no matter what happens and don’t care much about how you do it, then you’re in luck. Because there is a way to do it.
After all, if the ultimate goal is to save the end amount after the set period, there’s no reason for you to stick to the weekly plan.
And so, here are a few hacks you may find useful for the 52-week money challenge:
You take the 52-week chart with the amount to be saved labelled for each week, and you don’t follow it accordingly. You just deposit how much you can into your jar or piggybank and then cross out the corresponding week the amount is connected to.
The advantage of this is that you don’t have to save gradually over time. If you had a big bonus from work, you can deposit it into the savings and cross out the corresponding amount. For example, get the $52 week out of the way so you can focus on the other amounts.
The goal is to save money, not HOW you save money. So, doing this will make it easier for you in the long run.
Make it easier for yourself by using your bank account. Set up your account to transfer the money every week so you can do it all automatically without having to think about it. You can even go the extra mile and round it off to increase your savings even by just a little bit. You’d be surprised by the amount of money you’d have saved without even realising it.
The 52-week money challenge is an excellent way for you to kickstart your savings and get it done without the excuses. You can do the challenge as a way to make enough money for a downpayment on your car finance towards your dream car.