As we approach the end of the year, many of us, including me, will be thinking about goals and new years resolutions for 2019. Losing weight and saving money are usually the most popular areas targeted. For those wishing to focus on spending less and saving money in the new year, the 52 week money challenge could be exactly the tool you need.
How Does it Work?
This challenge is very simple to follow. Each week you put money into a jar, and at the end of the year, you will have extra cash, that you probably wouldn’t have otherwise saved. But to make it fun and keep it interesting, you don’t just put any old amount in the jar.
In week 1 you put in $1, week 2 it’s $2, week 3 it’s $3 and so on. Of course, this challenge gets more difficult as the weeks roll on, and in December, a big spending month anyway, it could be difficult to put away larger amounts. There are a couple of solutions to this problem. You could work backwards starting at week 52, so that in December, you are popping very small amounts into the money jar.
There is another way of doing it also, and that is to just choose random weeks, depending on the amount that you are able to contribute. I have decided to tackle the challenge in this way. I have printed the chart below and placed it into my money challenge jar. Each week I will mark off the week and amount that I contribute. As early in the year is the time that I work more than usual, I will probably start with putting the higher amounts in the jar.
If you follow this money challenge and put money in each week, you will have $1378 by the end of 2019. I participated in this challenge a couple of years ago, and treated myself to a new bike with the money saved.
Already I’m starting to think about what I will spend that $1378 on. Perhaps a short holiday. But that’s only a thought. The list is endless.
What do you think you would spend the money on? Would you like to join me in this challenge? If so let me know if you plan to do it week by week or randomly. I love it when you join in the conversation and promise to reply to all comments.
Link to the official site of the 52 Week Money Challenge