Ways to save money: 52 week money saving challenge

ways to save money

There are different ways to save money, and the 52 week money saving challenge is one of them.

The game is fairly simple and will allow you to save $1,378 (ideal if you look for investing that amount afterward!).

Capture d’écran 2014-01-02 à 15.52.48

Basically each weak you have to save a certain amount. So the first week you save $1, the second week $2 that you add up to the 1 you saved for the first week. You keep doing it for 52 weeks. At the end of the 12 months you will get $1,378.

At the beginning the game is easy but it gets harder and harder over time. You go from saving $1/week to $51/week at the end.

I think it worth doing it because it’s both funny and challenging. And even if you stop at week 20 for example because it’s getting too hard for you, you still have saved $210!

If you want to give it a try you can download the template: 52 Week money savings challenge.

Simon Cave

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12 comments… add one
  • femmefrugality January 5, 2014, 4:26 am

    I’ve seen this before and absolutely love it. Like you said, even if you stop half way through you’ve saved a decent amount!

    Reply
  • The Becomer January 5, 2014, 10:43 am

    Absolutely! Thanks for your comment.

    Reply
  • Dividend Diplomats June 8, 2014, 2:02 pm

    Thanks for sharing. This is a fun, easy way to save yourself 25% of your IRA contribution each year. What I like about the concept is that each week you are only saving a small amount of money that should not impact your lifestyle. Have you taken the challenge?

    Reply
    • The Becomer June 8, 2014, 6:01 pm

      Thank you for your comment! Yes I tried it for 4 months just for fun 🙂

      Reply
  • 88Anatasha July 30, 2014, 3:06 pm

    will try this scheme 😉

    Reply
  • Nizam Khan August 23, 2014, 8:52 pm

    This is absolutely amazing tip. I will definitely give it a try. Thanks for sharing 🙂

    Reply
  • Patrick August 25, 2014, 11:07 am

    I’m doing this right now. Not updating every week but doing really well with it. My wife and I are doing it together. By the end of January 2015, we will have over $2700.
    This is a great savings idea.
    We modified how we are doing it so that we didn’t give up at the beginning.

    Reply
  • Betty November 20, 2014, 8:04 pm

    definitely starting in the new week.

    Reply
  • 2SoloMost January 10, 2015, 2:29 am

    It’s amazingly a very simple concept but often we tend to neglect the basic financial strategies that often led up living broke. Thanks Simon for this informative post. Love to see more of such posts.

    Reply
    • The Becomer January 10, 2015, 11:35 am

      True. I think that having some fun in finance is important too 😉 Thanks for your comment.

      Reply
  • Evankolor February 12, 2015, 12:26 am

    One word : BRILLIANT !!

    Reply

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