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Saturday 20 December 2014
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52 Week Money Saving Challenge – Are You Game?

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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?

 

 




7 thoughts on “52 Week Money Saving Challenge – Are You Game?

  1. Deandra

    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.

    Reply

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