Have you heard of the 52 week savings challenge? It’s a simple way to save money throughout the year.
The idea is to start with $1 in the first week and increase this weekly, finishing up with saving $52 in the final week of the year.
I thought it may be fun to try the challenge this year and see how well I do.
52 Week Savings Challenge
Here are a few variations to this savings challenge:
Mix It Up Challenge
This challenge allows you to choose how much to save each week. The benefit to this challenge is the flexibility to add more to your savings when you have more money and to put less in on the weeks when your budget is a little leaner.
For a harder challenge, simply double up the amounts to save each week.
Mini Money Challenge
Another alternative is to half the amount of money to save each week. This may be a great place to start to teach children the skill of saving and delayed gratification.
Have you tried the challenge before? If you did, did you make it all the way through to the end of the year?