Let us welcome 2019 with a goal to do and finish the 52 Weeks Money Challenge yet again. I have successfully completed our 2018 Challenge with 100 increment where we were able to save as much as 137,800.
This time, my husband and I are thinking of doing the 200 increment in order to save 275,600 or the 500 increment in order to save 689,000. But one thing is for sure, we would like to be able to save 6-digit again this year and we are definitely increasing the increment this year.
The 52 week money saving challenge is certainly a great way to save this year. After all, you are compounding the money in different intervals making it simple and cost effective. To get you started with this challenge here are a few items that you need.
• A goal. This will keep you motivated to save, save, save. Simply imagine getting having capital for a business or investing the money or perhaps funding your future travel or what not. Or perhaps buying gifts for your family and friends. Simply pick a goal that you normally don’t splurge. From there, break it down in terms of your weekly amount to save.
• A piggy bank. I prefer a covered one so I won’t see the money stack in there and count how much I already saved. You can use a plastic container, a bottle, a jar or just about anything. This will be called a grownup piggy bank. You can even put it immediately to your bank account especially if you are considering bigger increments this time.
• Involve another one. Make this challenge more exciting by having your spouse take the challenge with you. You can also involve your kids, parents, siblings, officemates and even friends. The more, the merrier and the easier the challenge will be.
• Template. The challenge has an existing template that we can print out and tape in your piggy bank. Here’s the sheet that you can follow and download. You can also do a reverse template. See 50 reverse increment for sample.