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Are you familiar with the 52 Week Money Saving Challenge? I like the idea of a savings challenge, but I am not 100% on board with how it is set up. The typical plan challenges you to save $1 the first week, $2 the second week…until you save $52 the last week of the year. It’s a simple way to save an additional $1,378 in 52 weeks, but I do see how this can be a struggle when December rolls around.
Compare what you are saving the first 4 weeks of the year to the last 4 weeks of the year.
- During the first 4 weeks, you save a total of $10. Average: $2.50 per week.
- During the last 4 weeks, you save a total of $202. Average: $50.50 per week.
Saving $2.50 per week is probably not a huge struggle. $50.50 per week may be harder to accomplish, especially considering that this takes place in December.
I created a 52-Week Money Saving Challenge Printable back in 2014. The original printable was for 2015, but now I have an undated version for you to use any year. You can start this challenge at any point throughout the year.
The original 52-Week Money Saving Challenge ($1 per week, $2 per week, etc.) results in a savings of $1,378 in a year. You will still end up saving $1,378 with this updated challenge, but it will be easier to save when you spread it out.
If you do decide to start this challenge in January, this schedule will be much easier as you will be set up to save the least amount in December. You will save $110 during each 4-week cycle, with an exception of the last 4 weeks of the year. If money is tight in December, you will feel relief! This schedule asks you to save only $58 during the last 4 weeks. You will only have to set aside $8 in your budget to save the last week of the year. $8 is much easier than $52!
FREE Printable: 52 Week Money Saving Challenge
I am also including the reverse version of the original challenge. Save $52 the first week, $51 the second week…until you save $1 the last week. Pick the schedule that works best for you.
FREE Printable: 52 Week Money Saving Challenge_Reverse
It can be easier to make saving a priority when you know what your goals are. Writing down your goals can make you feel more accountable. At the bottom of the printable, there is a place to write down your savings goal.
Write down what you are saving for: Mortgage? Vacation? Home updates? College fund? Credit card debt? Feel free to share in the comments:
Why are you saving? What is your goal?
Do you want to track your habits in 2024? See below for a few resources to help you track your habits:
Monthly Habit Tracker: This post includes a free monthly habit tracker PDF.
Bundle of 20+ Habit Tracker PDFs: Because I realize not everyone tracks their habits in the same way, I just created a Habit Tracker Printable Bundle. It contains over 20 pages so you can find the tracker that works for you. Some trackers have a weekly focus and some have a monthly focus. Some include both. There is also be a habit tracker specific for tracking sleep. Work through and try more than one printable until you find the one that works best for you. Get the NEW Habit Tracker Bundle here!
Habit Tracker Spreadsheet: I am excited to share my Habit Tracker Spreadsheet with you. One of the reasons I’m so excited about the spreadsheet is that you get to see the word “Success” pop up if you complete your habit your goal number of days.
There is a column where you write in your success criteria (because not all habits will have the goal of 7 days per week). Once you input the right number of “X”s during the week, a green “Success” will magically pop up! (OK…it’s just a little formula I wrote.)
I included directions in the spreadsheet, but I would love to know if you think something is confusing.
Annual Habit Tracker: Track your habits all year long with this free Annual Habit Tracker Printable. This post also includes ideas for what habits to track.