UPDATE: Check out the 2016 52 Week Money Challenge & Reverse 52 Week Money Challenge Schedule
now up on the blog.
I posted about the 52 Week Money Challenge last year and I’ve got to be honest, I didn’t do it. I don’t even think I made it past the 2nd week. In 2014, I want to give it another shot, a real shot. That’s where you come in…want to do the 52 Week Money Challenge with me? We can hold each other accountable (and I need that).
This year I will be posting the 52 Week Money Challenge on TeachMe2Save.com each week along with a 52 Week Money Challenge photo that will highlight the week we are on (trying to make it as easy as possible for us).
More about the 52 Week Money Challenge
Each week of the year (Hence the name 52 Week Money Challenge), you save a designated amount (based in the week #) and by the end of the year, you will have saved $1378.00 (that doesn’t include any interest it may accrue if you deposit it into a savings account).
So on week #1, you deposit $1. On week #2, $2, week #19 $19, week #35 $35 and so on and so forth.
Want to Keep Track Of Your Savings?
Simply print out the chart and cross off each week as you go along OR you can check back here each week and we’ll keep track together (that’s why accountability is great!).
Make Things Interesting (or complicate things as my husband would tell me)
You could also work backwards and start with an initial savings of $52 so that it only gets smaller as the year goes on. Read more about the Reverse 52 Week Money Challenge. Plus, with that initial amount you could deposit it immediately into a savings account since you need a certain amount to get an account opened.
You could also consider putting in double the amount each week, so you have double the amount at the end of the year.
Let’s Do This
We’ll be starting week 1 on Sunday 1/5 with the last week (#52) ending on the week of 12/18 (Check out the 52 Week Money Challenge Schedule for 2015).
Are you doing this with me? Any questions?
As I am reading this (I also did not make it past week 2 last year) I have a suggestion. If for any reason you have extra cash on hand one week, put that in on top of what is designated for that week. For example, week #14 you put in $14, however, you have $17 in cash. I would then cross off week #17 and not #14. That way if I am short one week or it’s really tight. It leaves me week #14 open as a saving grave and to fall back on! But only fall back on that week if it’s absolutely necessary!
That’s a great idea! Thanks for sharing 🙂
I’m in. Lord knows I need to do better with saving money, and I really like this idea. =)
Yay! It helps when you have some one to do it with 🙂
I am terrible with new years resolutions. however 2 years ago i made a goal to lost 50 lbs. I did it. last year I lost another 50. baby steps… so this year i am calling it my follow thru. i made a list of things i want to do. this morning i went on my first run of the year and deposited $1 in my savining account. there is already 7$ in there as left over from whatever i tried before. i am so excited to see how this pans out and will definately BOAST when i make it each week. I love a challenge! so here goes! good luck and thank you for posting this kind of booster. some of us are not creative and it helps that there are friendly folks out there willing to help the rest of us. Bless this new year with abundance of HEALTH WEALTH and HAPPINESS…
aPRILcHANAE
Thanks for sharing April! I think it’s awesome that you have lost 100 pounds and that you are striving to follow thru on your goals this year! I am hoping to do the same. Hoping that we can help keep each other accountable and I look forward to hearing about your accomplishments throughout this upcoming year. 🙂
Hi, I was looking for budget sheets for the months and I came across your website. I really am interested in the 52 week money challenge because I really do need to save money. I am very poor when it comes down to saving money but I am going to try your method and see how I do. I never would have thought just to start off with $1, most people would say you need to start saving at least $50 every week. Thanks so much for baby steps.
I’m in! Are you setting up a place for everyone to sign up, Facebook, website, etc. How do we make sure we’re in the PayPal drawing each week?