52 Week Money Challenge
I have done the 52 Week Money Challenge for a few years and it’s a great way to save plus it’s fun to watch your savings add up. You start by saving $1.00 the first week, $2.00 the second week and adding a dollar to each week until you get to week 52 with $52.00. At the end of the year, you will have saved $1378.00.
The first year I saved with the 52 Week Money Challenge this way of starting with $1.00 but then realized I was saving the larger amount during the Christmas shopping season. The following year I decided to work it backwards. I started with $52.00 the first week of the year, then $51.00 the second week and ending up at the end of the year with only having to put $1.00 in on the last week.
If you still want to save but don’t have enough to put money away using the dollar challenge, you can do the challenge with 50 cents and still end up with a good amount of $689.00. Another great idea is to teach your children to save. Even saving a dime or a quarter using this plan would give the children something to look forward to at the end of the year and teach them a bit about money management.
It’s the perfect time to get ready to start the 52 Week Money Challenge and watch your savings grow!
Another challenge I do is the 365 Day Penny Challenge. This one works the same way but you add the number of pennies on the day of the year. For example, on day one, you drop a penny in the jar, day two you drop 2 pennies in the jar, continuing throughout the year with $3.65 on the last day. This challenge can also be reversed and start with the higher amount at the beginning. At the end of the challenge you will end up with about $668.00.
The cool thing about these challenges, you don’t have to start at the beginning of the year, you can start whenever but by starting in January, you will have a good payday just in time for shopping! So get ready to do the 52 Week Money Challenge or the 365 Day Money Challenge and watch your money grow!
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