Did You Resolve to Save in the New Year? How About Saving $1378?
Several years ago I came across something called the 52 weeks savings challenge and it piqued my interest – I like to save and I love a challenge so I looked a little further into it.
Everyone loves to save money but sometimes it’s easier said than done, especially if it’s not something that you have been doing regularly. Just like anything else, once it becomes a habit it becomes second nature.
The beauty of the 52 week savings challenge is that it allows you to start with what is essentially the change at the bottom of your purse ($1.00) so starting your savings is painless.
Here’s how it works:
You put away the amount of money equivalent to the week of the challenge. Today starts week 1 of the challenge so I will put away $1.00. Next week is week 2 of the challenge so I will add $2.00. The following week is week 3 so I will put away $3.00. At the end of 52 weeks following this formula you will have $1378.00!
If you’ve never had luck saving money before this is a great way to be able to do that. The nature of the challenge is to stick to a schedule. By adjusting incrementally over time, you’ll ease into your savings. Once you get to the end of the challenge (where you are putting away $52.00) you will have developed the habit of saving and it will be automatic.
We’ve even prepared a worksheet to help keep you on track ——>>>>>>52 Week Savings Document
Are you going to take the challenge? Let us know how you do!
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