Last week I posted the 52 Week Money Challenge Chart as an easy way for you to save $1378 this year. We are now in week 2, so I wanted to follow up and see how you were doing with it. I have started putting the money in an actual piggy bank so that I can’t touch it (maybe I should tape the bottom of the piggy bank).
Being that we are currently on week 2, you need to add (or should have already added) $2 to your savings…highlighted in the chart in yellow.
- Week 2 Deposit Amount $2
- Previous Account Balance $1
- New Account Balance $3
If you haven’t done it yet, it is not too late to get started just put in week 1’s amount which was $1. To keep track of where you should be, I have also created a 52 Week Money Challenge Schedule for you to reference.
If you missed the post explaining it all, here’s how it works:
Each week of the year (52) 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 2, you deposit $2. On week 8, $8, week 19 $19, week 35 $35 and so on and so forth. Just print out the chart and cross off each week as you go along.
You could also work backwards and start with an initial savings of $52 (Reverse 52 Week Money Challenge) so that it only gets smaller as the year goes on. Plus, with that initial amount you could deposit it immediately into a saving account since you need a certain amount to get it opened. if you started backwards, then:
- Week 2 Deposit Amount $51
- Previous Account Balance $52
- New Account Balance $103
**Don’t forget I’ll be doing giveaways some of the weeks, so keep checking back!
Good Luck!!!!!!
This is an awesome for me to save! I have had difficulties saving money because I literally live from check to check, but this challenge here will motivate me to save. Thank!
So glad you will be doing it with us! 🙂