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I'm Steph, mum of three! 👋
Here, I share practical insights on making (and saving!) money. With a knack for budgeting and a passion for financial freedom, I've picked up lots of tips & tricks along the way. And I can't wait to share them with you here!
Looking for a way to save money? Why not try the 52 week printable savings challenge UK? Start saving £1 in the first week, increasing the £s until week 52. This challenge is designed to help you save money each week and it’s totally free to print out and use.
What Is The 52 Week Savings Challenge?
The 52-Week Savings Challenge is a straightforward and pretty effective way for people to gradually save money throughout the year.
The idea is simple: you begin by saving £1 in the first week of the year and then each subsequent week, you increase your savings by an additional pound. So, in week two you save £2, in week three, you save £3, and so on.
By the end of the 52 week period, you will have saved a total of £1,378.
This challenge not only fosters a consistent saving habit but also makes the process manageable and less intimidating. Saving for a holiday, an emergency fund or anything else? The 52-Week Savings Challenge is a practical approach to achieve your savings goal.
- Week 1 – save £1
- Week 2 – save £2
- Week 3 – save £3
- Week 4 – Save £4
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- Week 30 – save £30
- ⬇️
- Week 50 – save £50
- ⬇️
- Week 52 – save £52
- Total after 52 weeks – £1378 ?
The 52 Week Printable Savings Challenge: Is It Worth It?
The challenge can become more difficult in the later part of the year when the weekly savings amounts increase, particularly around the Christmas when expenses are higher. Plus, the money you’re setting aside won’t earn any interest like it would in a savings account.
The 52-Week Savings Challenge can be worth it if you’re looking to build a savings habit and have a clear savings goal in mind. However, it’s important to consider your personal financial situation and whether you can commit to the increasing weekly amounts.
If you think this challenge might be too tough to complete, have a look at the Penny A Day Challenge here
How Does The 52 Week Savings Challenge Work?
The 52 week savings challenge works by allowing you to get into the habit of saving small amounts at first, and building up to bigger sums as the year goes on.
Some people do this challenge in reverse, December can be an expensive month all round and it can be tricky to find the larger amounts to save.
If you’re starting this saving plan in January, reversing it might be a good idea if you think you’ll struggle in December.
How Much Do You Save Doing The 52 Week Savings Challenge?
At the end of week 52, if you managed to stick to the plan, you’ll have saved yourself a huge £1378. Sounds like a lot to save in one year? It is, and this isn’t called the 52 week money challenge for no reason :)
One thing you can do to help you meet your goal is to think about ways you could bring in some extra money to help you save the bigger amounts, it doesn’t have to come from your regular income.
You may want to start challenging yourself to make the amount each week from extra income you’re able to make, so you don’t have to touch your family budget at all.
We have a number of posts focusing on ways you might boost your budget, these are a few to get you started:
- Start proofreading in your spare time
- Take surveys for cash
- Genuine work from home jobs in the UK
You can also look at ways you can make savings from the budget you have already.
Learning how to budget was the best thing we ever did to turn our finances around, and something that will allow you to see where you’re spending your money and where you can make savings.
The Free 52 Week Saving Challenge Printable
We created these free 52 week money challenge printables that you can download and print at home. Being able to have a visual reminder of your savings and how far you’ve come can be extremely motivating.
The early weeks of this money challenge are fairly easy to get through, and these charts will be well on their way to being checked off by the time you need that extra boost to carry on!
FREE 52 week challenge Printables
Download them here
Printable Savings Challenge: Pros & Cons
The 52-Week Savings Challenge is a straightforward and very visually rewarding way to save. Provided you can commit to the increasing weekly amounts. And it’s a great tool to kickstart your savings habit and watch your money grow!
That said, be aware of the pros and cons before starting:
Savings Challenge Pros
- Simplicity: The beauty of this challenge lies in its simplicity. You start with just £1 in the first week, and each week you add another pound to your savings. It’s easy to understand and follow.
- Builds a Savings Habit: This challenge is a fantastic way to make saving a habit. By saving a little each week, you’re reinforcing the practice of setting money aside.
- Achievable Goals: The incremental increase makes the challenge manageable. It’s not as daunting as trying to save a large lump sum all at once.
- Tangible Results: By the end of the year you’ll have a tidy sum of £1,378. It’s a rewarding outcome that can fund a holiday, contribute to a larger purchase, or boost your emergency fund.
Savings Challenge Cons
- Increasing Commitment: While starting with £1 is easy, by the end of the year, you’re putting away £52 in a single week. This increasing commitment can be a stretch, especially around Christmas when expenses often rise.
- Lack of Interest: Unlike a savings account, you won’t earn interest on your weekly deposits. If you’re looking for a return on your savings, this might not be the best method.
- Requires Discipline: The challenge requires consistency and discipline. Missing a week can disrupt your progress and make it harder to reach your end goal.
Need some advice about money? Citizens Advice, UK Gov or Step Change can help.
