Kick off the year with the 52-week challenge
Are you ready to make a simple savings goal for 2022? How does $1,300 for the year sound?
Take the 52-week challenge!
It’s very simple. Starting on January 1 save an increasing amount of money every week for 52 weeks. On the first week of the year, you put $1 into savings. On the second week of the year, you put $2 in savings. Every week, you continue to deposit the amount that corresponds to that week fo the year, up to 52 weeks. It might not seem like much, but by the end of the year, you will have saved $1,378!
The 52-week challenge is a great way to start saving for a number of reasons:
- It starts off slow. You will barely notice the difference at first, which helps you keep it consistent.
- It builds the habit. The 52-week challenge forces you to set aside a time every week to save money. As you get used to it, it will be easier to save in the future.
- It actually makes a difference. The first step to creating financial health through savings is saving $1,000. For those of us living paycheck to paycheck, this is really hard. The 52-week challenge actually helps you exceed that.
- It’s fun. You can make it a game within your family, challenge a friend, or even just challenge yourself. Have fun with it and celebrate the progress!
The 52-week challenge can be altered to meet your savings goals. The key is to just start, then build as you go. We hope you will take this challenge and improve your saving habits.