52 Week Money Saving Challenge – Are You Game?

[ 7 ] January 6, 2013 |

It seems all of Facebook is a buzz with this super easy chart as inspiration to save $1378.00 in the new year.  There is even a Facebook group for the challenge with over 1400 members HERE!  Holy Moly!  That’s some serious saving chat going on people!  One guy even set up weekly automatic withdrawals from his paycheck into a separate account.  Pretty smart idea if you ask me.

The concept is incredibly simple.  You just add the amount of money listed each week into your favorite mason jar, extra bank account, or under your mattress.  The hard part obviously is the discipline to make sure you deposit the amount without fail each week.  Some people have even decided to start with the largest number of $52 for the last week of the year and work backwards.  Now that’s really smart!  You start putting the highest amount away when your ambition is the strongest!  Plus it won’t hurt to NOT not have to add those larger dollar figures in the weeks leading up to the holiday season.  In theory, you could add $20 the first week of December and have the challenge complete and be fully prepared for that holiday vacation of gift buying extravaganza!

My husband is actually a great saver.  Without his fortitude we would not have the savings safety cushion built that we do.  This challenge has my interest peaked and I am going to give it a shot working backwards.  I found a blank version to add my own backwards deposit amounts from Stuck at Home Mom.  You can check out this post HERE for an awesome downloadable blank PDF.

What is your best tip for increasing your savings cushion?

 

 

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About the Author ()

Happily married with two children, Karen does not hesitate to rebuff her family’s hungry advances at mealtime, while she styles and photographs their dinner to share on Instagram before serving them. In The Kitchen With KP is full of family friendly adventures around Atlanta (and beyond), plus simple recipes everyone can feel comfortable trying. In fact, her whole family participates in the cooking/baking fun on a regular basis.

Comments (7)

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  1. Holly says:

    I love the working backwards idea and making it easier as the weeks go. Better yet, maybe setting $50 aside each week might not seem as hard as it sounds once you get started. Happy Saving!
    Holly recently posted..Lemon Curd (in the Vitamix)My Profile

  2. Deandra says:

    I think this is a great savings plan. I also like working backwards on it. I think it will be easier that way. Thanks for the idea.

  3. Tara says:

    We are starting from the beginning but doing it DAILY as we want to save for vacation. Should be challenging!! Let’s see how far we get.
    Tara recently posted..“No Tradesies” Lunches with Snack Pack PuddingMy Profile

  4. Love this approach! Will definitely be trying this year and sharing with my readers. Thanks so much and happy 2014!
    Michelle @ Esculent Dreams recently posted..HAPPY NEW YEAR 2014!My Profile

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