The 52-week saving money challenge, the popular method to save money,
When it comes to saving money, there are many tricks.Some inspire more than others, but the 52-week challenge is entertaining and can save you over $1,000 a year. Find out!
52-week challenge
Saving is not always easy. It often requires planning and a habit. But the key is to try to spend less than you enter.
Through this method, you will be able to save without realizing it. It works with the 50/20/30 Rule or the Kakebo Japanese technique, but it’s fun and customizable.
Do you accept the challenge? This is the 52-week savings method.
This challenge is very popular. Its success is due to the fact that it is very simple, and you can start saving without a great deal of effort because you start by saving 1 USD.
The dynamics are simple. It is a challenge that lasts 52 weeks and consists of saving one USD more each week than the previous week. That is, the first week you save one USD, the second week you save two USDs, the third week you save three USDs, and the last week you save 52 USDs.
They are such small amounts (especially the first few months) that you will not realize that you are saving, but once you finish the challenge, you will see that you have managed to save 1,378 USDs. It sounds incredible, doesn’t it? It’s incredible, but true.
Why does it work?
This 52-week savings challenge is not only fun, but it works.Its success is due to its initial friendliness, allowing anyone to try it with a weekly savings of one USD.
You’ll spend less since it’s pleasant and you won’t notice the effort for the first few months.
Since people are flexible, you’ll spend less if you’re saving in another account.
Can you have a hard time?
The truth is that for the first few months, it’s all pink. But be careful with the last ones, because now that you are reaching your 50th week, you will have to save a significant amount every week, and you will notice it more because it will be a hard blow. However, you will be motivated to want to end the challenge, and that will make you achieve it. I’m sure you’ll get it. What saving money challenge
What to do with everything you save
If you manage to overcome the challenge, you will have saved a whopping 1,378 USDs. You can then invest it in compound interest, save it for emergencies, buy a new iPhone, or go on vacation.
Anyhow!
Can I change the formula?
The truth is that the challenge of the 52 weeks is to invest 1 USD every week and 1 USD more than the previous one. But you can modify it according to your needs.
For example, if instead of saving 1 USD you start saving in multiples of 10, at the end of week 52 you will have saved 13,780 USDs.
Even if you make a lot of 1 USD, you can start with 50 cents and increase by 50 cents every week. This will make you eligible for the challenge after Week 52 when you see that you have saved 689 USDs. Let’s say it is a method that can be adapted to the needs of each user. What saving money challenge
Advantages of choosing the 52-week method
There are many methods of saving. Not all of them function because they don’t motivate users to attempt them. In the case of the 52-week saving challenge, it can be fully personalized, which makes it very friendly. Since you can start with 50 cents, 1 USD, or whatever you want, it’s for everyone.
You will manage to save money every year without realizing it—to treat yourself, to invest, or to grow your emergency mattress. But above all, you are going to acquire a saving habit, and it will become easier for you to save.
What if I can’t save? What if I forget to put the money in some week? Ideally, you should set an alarm as a reminder and have two accounts: the main one and the savings account. This is how you can lay a good foundation and try to establish an order to save.
