Reach your financial goals this year by doing this 52 Week Money Saving Challenge. Depending on how much save every week, you might end up saving significant amount.
Are you trying to save money to buy your dream house or your dream car?
Let’s be honest, saving money is not as easy as it used to be. Expenses have gone up the roof and very basic things like grocery shopping and regular errands take up most of the income we bring home.
Add to that extra insurance costs, house repairs, auto repairs and the budget goes out of control.
Now it might be a good ideas to start saving a few bucks every now and then, so that you are able to save significant amount by the end of the month or year.
52 Week Money Saving Challenge
Although it’s up to you to save any amount of money but it’s always a good idea to set up a system so that you know how much you are going to deposit each week or each month. This way you can visually record how much money goes into expenses and how much is your net saving.
Besides using such a system, you can set up a budget planner where you can record your income, expenses and savings for each month.
When you have a well planned financial setup, you will find it easy to save money and keep budget under control.
Related: 15 Smart Ways to Save Money during the Holidays
This 52 Week Money Saving Challenge will help you save money each week. You can start with the simplest version and go for saving increments of $1 each week, or challenge yourself to save increments of $10 or $50 each week and see how you perform.
Festival season is the hardest to save, so you may want to create yourself a budget for shopping.
Make sure to download this money saving challenge template, but, you don’t have to start using it right away. Probably download it, and save it somewhere safe, where you can access it later on. It would be a great idea to start thinking about how you’d like to shape your new year financially.
How does 52 Week Money Saving Challenge work?
Let’s talk about this 52 Week Money Saving Challenge.
If you have done money challenges before, you know that this one is the most doable out of most of them. Only because you can decide how much money you want to save every week.
You can start from the very basics and do the $1 weekly increments. If you want to save more, go with a $2, $5 or even $10 increments challenge each week.
If you look at the money saving challenge printable, you will see that it gets extremely hard to deposit hefty amounts towards the end of the year, when it’s festival time.
You can do the reverse money saving challenge or mix it up. Start from the highest amount first and go down each week. That way, you will be done with the hardest part first and get it over with.
Related: How to save money on groceries
How to Save Money with Money Saving Challenge?
This is how it works , in case you’re reading/hearing this for the first time. 52 Week Money Saving Challenge is perfect to save money over a period of time.
You save a certain amount of money each week. Because you save in smaller amounts, you don’t feel the pressure to save big, all at once.
Download Here
Decide the amount; there is no hard and fast rule. The idea is to put aside some money away every week.
Once you decide the amount, download and print the copy of this 52 Week Money Saving Challenge Template. Put it in your binder or post it in your room where you can see it daily.
Start with week 1. When you have put the money away, simply check off that row.
For putting the money away, use a simple money jar, or set up a savings account in your bank.
If you decide to deposit $1 increments each week, you can save $1378 by the end of the year. Download and use this template for $1 weekly increments:
Download Here
You can save the increments of $2 each week. You will end up saving $2700 at the end of the year. Not bad, right? To deposit increments of $2 each week, use this template.
Here’s the $5 increment version, where you will save increments of $5 each week. You will be able to save $6800 by the end of the year. To deposit increments of $5 each week, use this template:
Want to challenge yourself even more? Deposit increments of $10 each week, download and print this template. You will be saving a whopping $16000 by the end of the year.
Because the amount you want to use for every week is totally up to you, you can start from $1 or up to $50.
If you wish to use your own amounts, here’s the empty template. You can go with any number each week. It’s very flexible, and you are not obligated to save a fixed amount.
I’d recommend to save some amount, small or big. Here’s the version for the empty template.
You should be fairly comfortable with the amount you want to use. Because of how this system works, you will have a huge amount that needs to be saved towards the end of the year.
Related: Simple Way to Keep your Budget under Control
That time also happens to be around December and Christmas. The time when most of us find ourselves on a tight budget. So to make the most of this system, if you want you can reverse the chart and start your year from the amount you are supposed to save at the end of the year.
Or you can put away the most amount in the middle of the year when you think your expenses won’t add up too much.
This is how reversing the template and amount works:
Let’s say you wish to go with $1 increments; the amount you will be putting in your savings account the first week will be $52, next week will be $51, and so on. You can also pick any amount from other weeks, save that much in your account and mark that week as done. Simple!
So, are you ready to save money? Let’s see if we can reach our respective set financial goals this year. Please share how much you are planning to save in the coming weeks and months. Let’s say Goodbye to unwanted and unexpected expenses and say Hello to savings, and more savings!
