Taking the 52 week savings challenge

January 5, 2013 in finance,frugal,money saving tips

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The picture above has been all the rage on my Facebook and twitter stream for the past two days. It’s easy: save a small amount week to week, for 52 weeks, and you can save almost 1300 dollars. Save 1 dollar during the first week, 2 dollars the second week, etc. It looks like the challenge originated from The 52 week Money Saving Challenge Facebook Page and it’s become viral. I’m so pumped about this challenge. Since it’s something you do once a week and only has a gradual increase, it’s a great additional savings challenge to whatever your current savings plan is.  I’ve already added reminders in my phone to put the money aside every payday. 

Looking to up the ante? Try doubling it! Afraid that by the 51st and 52nd week you won’t be able to put aside that money due to the holiday season? BlogHer editor Karen Bullum suggests to do it backwards: save 52 dollars the first week, 51 the next, etc. Genius!

So, do you think you’ll join in? Let me know in the comments and we can be challenge buddies!

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{ 6 comments… read them below or add one }

Nikki January 5, 2013 at 5:44 pm

Love this idea! I don’t think I’ll be able to do it because of finances right now, every dime is going to bills, but I could at least try to save some money this year!

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Leila Kennedy January 5, 2013 at 5:47 pm

I have seen this around and am still contemplating if I am going to do it. I have also heard some people suggest doing it backwards so that the larger amount is now and the smaller amount falls over the holidays. I guess since Week 1 is over in 2 days, I really should speak with hubby and see what he thinks!

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Mom vs. the boys January 5, 2013 at 7:11 pm

I’ve seen that all over too, but doing backwards really is genius! love that idea!

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Nicki January 5, 2013 at 7:43 pm

I really like this idea. I am thinking of amending it for us because hubby get paid bi-weekly.

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Myndie January 6, 2013 at 6:14 am

Such a great idea. It makes it look less daunting. Thanks for sharing.

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Tazim April 10, 2013 at 3:29 pm

Great idea and it looks really attainable!

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