Save Money the Easy Way with the 52 Week Money Challenge

Posted: 02/21/13 6:00 AM (Modified: 02/21/13 6:00 AM)

One of our readers, Jen, shared with us a 52 Week Money Challenge. The idea is to save each week the dollar amount the same as each week number. For example, on week 1 you save a $1, week 2 is $2, week 3 is $3 and so on. By the end of the year you will have saved $1,378.00. Now that's a nice cushion for end of the year taxes, Christmas shopping or any necessities. Sounds like a doable plan to me!

Fans on our Money Saving Queen Facebook page were saying they would do the challenge backwards. That way, they start by saving the most at the beginning of the year then it decreases by the end of the year when there may be more expenses going on. Either way you choose is a great plan to save and lower your stress level. Let's do it!

 

Thanks for sharing with us, Jen!

Here is the video featured this morning on News on 6News 9 , KMOV, Kens5,  WGEM and KTXD:

 

Jan 15, 2013 01:37 pm
 Posted by  Anonymous

I love this idea!!!! Along with my "Perfect Cents" savings plan facilitated through my bank (which rounds up to the nearest dollar and transfers it into saving automatically, earning me a painless $15 a month $189/year on average) this plan works great! Front loading the beginning of the year through July put you close to $1000 before those sneaky holidays get you. So even if you only make 7 months you've hit a huge stride.
My husband and I are going to try this and we already committed the cash for January. We keep separate accounts so we'll double our money in the end by setting personal goals. This plan feels painless to me because I will feel less stressed as ill be putting in less money every month. Also I'm breaking up the months total into two payments to coordinate with my paychecks to lighten the burden over the month. So in May in putting away $69 per paycheck not the full $138. My goal every year is to save $1000 and I never seem to meet it. I think this year is my year!!

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