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Trying the 52 Week Money Challenge

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For the last week I saw this image floating around Facebook and blogs. I looked at it but I didn’t pay much attention to it. I understood that you had to set aside money but thought it was daily and knew that would’ve been impossible.
52 week money challengeHere is a downloadable/printable version from my frugal friend Lisa Lightner from her Easy Savings post.

On Friday I took an extra moment to REALLY read about it and figured this was something we could definitely do. Right now finances are tough but we can definitely gather the $1, $2, $3 and $4 to put away. The 52 Week Money Challenge is a simple way to force yourself to save money each week. Will it make you rich? NO! But at the end of the year you’ll have a nice chunk of money to go towards a vacation, room makeover, new car, tuition or whatever you want.

Rob and I instantly gathered up the change in my wallet and an archaic container to hold each weeks deposit. The crafty mama in me cringes as I look at it but I knew if I didn’t put that money away instantly we’d quickly lose interest and forget.

So I superglued a Chinese Wonton Soup container closed, cut a slit in the top and with a Sharpie wrote down the weeks that have been deposited. I have $6 in my wallet so it all went in. I also wrote down 1, 2, 3 so we’d know where we were during the process.
saving money, 52 week money challenge
Right now adding a couple bucks doesn’t seem hard but when it comes to October-December, close to the holidays it will get harder. We’ll find excuses not to put money in it but we have to be determined to get to $1378. The system can be switched to start with $52 deposit this week working your way to $1. Right now I don’t have those funds so we’re gonna do it this way.

Don’t think that you HAVE to physically add dollar bills to a piggy bank. You can set up  new savings account through your bank and arrange direct deposit so that it can be done online.  I thought it would benefit us if we could actually SEE the money being stashed away, like an encouragement.  It it works against us then we will be moving it to a financial institution.

Crossing our fingers!

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About Melinda

Melinda is half of the mom & dad blogging team from LookWhatMomFound...and Dad too! Over 4 years ago Melinda left the corporate world to focus on raising her children while being a SAHM. With 17 years of parenting practice to 3 kids life has provided her many experiences that are used to educate the family on morals, ethics and the difference between right and wrong. While academics are very important, a full education goes beyond books and grades. Melinda strives to raise children with good hearts, strong principles and a foundation built on love and respect for others.
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Comments

  1. I pinned this the other day!! My problem is that I hardly ever have cash to put into a container.

  2. I didn’t think about reversing it! I’m going to be doing this as well.

  3. This looks awesome! I am going to try as well. I wish I could pull off the high amounts at the start but sadly no. But I can come up with $1, $2, and so on. Thanks for sharing this!

    :-)
    Traci

    • Do what works for you. Pick a number ($10) and let that be your deposit each week. It’s all about making a commitment and seeing a result at the end.

  4. I too saw this floating around there, but didn’t really read much about it at the time. So glad I read your post…I am on board:)

  5. Wow, that’s awesome. I’ve never even heard of this challenge! I can’t wait to hear how you do!

  6. Ooooo, I love this!!!!!!

    • I will love all of the money at the end of the year but not having to put it away every week. HAHA

  7. ellen says:

    If you have it all printed out, there is nothing to say you canr go out of order… one week you may have the $30 $40 $50. On that week, put it in the jar/box/container and mark it off. As long as you do something each week it all adds up the same.

    • That’s a really good point and not something that I thought about but I will print out the schedule and do what you suggested is necessary.

  8. Teresa Moore says:

    I am doing this challenge to have extra money to go to Disney for Christmas this year. My seven year old and I are planning our first trip to Disney and this would be a great way to save money for our trip!

  9. We’re doing this too. Home projects are on our list of things to do with the savings. Thanks for linking up with my 31 Days of Resolutions!

Trackbacks

  1. 52-week money challenge | thekchronicle says:

    […] dollars, and so forth.  By the end of the year you should save about $1378 (you can see the chart here).  That is not life shattering money, but it is more money than I saved […]

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