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 the year 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 need to establish financial goals, develop a budget and stick to it, kill off debt, and get clear on what your financial picture looks like? Check out the Real Life Money Plan eCourse by Jessi at jessifearon.com.
Here is more info on the course:
- The course includes 13 video lessons.
- This is a self-paced online course, which means that you can take this course at your leisure. There is no time restriction on when you can start.
- There is a 25 page pdf workbook to accompany the course that acts as practical application for the lessons you will learn in the course.
- There are bonus trainings that will walk you through setting up a zero-balanced budget and reconciling your bank statements.
- There is a 30-day money back guarantee. If you are unhappy for whatever reason, you get a refund.
She is gifted at encouragement and is an enthusiastic teacher. If you have ANY desire to design a money plan that fits your life, I suggest you check out her eCourse.
I had the opportunity to view Jessi’s course and her passion for helping you is so evident. She asks you to commit and not just go through the motions as she wants you to succeed! She wants you to focus on progress, not past failures. She will motivate you to move forward with the best decisions for YOU.
Jessi’s work has been featured on Buzzfeed, Rockstar Finance, TIME/Motto Magazine, Money Saving Mom, and The Penny Hoarder.
Stop by to see where I link-up my posts each week: Link-Up List