52 Week Save Money Challenge

saving money challenge

Update: Join (or follow along) with the 2014 edition of the 52 Week Money Challenge or the 2014 edition of the 52 week money making challenge. For those who really have trouble saving, there’s the 365 Day Money Challenge that saves $668 a penny at a time

With the New Year, people are always looking for new ways to save money that isn’t difficult or complicated, and that can keep them motivated throughout the entire year. It seems like Facebook has provided a simple plan (courtesy of Kassondra Perry-Moreland) this year that anyone can follow and it’ll result in over $1300 worth of savings by December 31, 2013. As the above image shows, it’s a simple concept that anyon

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41 Responses to 52 Week Save Money Challenge

  1. creditcardfree says:

    I would definitely consider this challenge. It is a great way to start the savings discipline. I think one could also use a similar system as a way to start making extra payment towards debt.

  2. Wowitsawonderfullife says:

    I love the hybrid model. A little bit like yahtzee. It will work better for me as I always have a very spendy December. Thanks for the great idea!

  3. Beawealthywarrior says:

    I read about this initially on FB and have been doing it by saving my one dollar bills. So far I’m up to week 4 with $10 but I also like the do your best hybird.

  4. I might try this challenge with my son’s 529 account. It could work well.

  5. Melanie Pierce says:

    Yahtzee! That’s exactly what I thought of!

  6. Cubsfan says:

    I’m doing a hybrid of it myself. I did the first two weeks normal and plan on $52 next week and go from there.

    If you are saving to pay off debt, wouldn’t it make more sense to pay off the debt as you go so you don’t get even more interest?

  7. jeffrey says:

    If you are saving to pay off debt, wouldn’t it make more sense to pay off the debt as you go so you don’t get even more interest?

    Yes, definitely.

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  10. My husband and I began the 52 Week Financial Challenge July 2010 on You Tube and we are so grateful to God for how it continues to grow and grow and grow years later! When I say grow…it has grown to THOUSANDS and THOUSANDS of people doing it on FB, Instagram, Twitter and all over the web. If you have a dream…DO IT!

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  12. MR. PM says:

    On the system chart above the following is incorrect.
    Week 49 account balance is incorrect.
    if you take week 48 account balance and add week 49’s deposit amount to week 48 account balance you will get $1,225.00 not $1,125.00.

  13. Gailete says:

    Am I understanding this correctly? You aren’t taking the money out of your wallet each week, but are actually finding ways each week to save that week’s allotment of money? If it it just taking money out of your wallet, I know I sure don’t have an extra $200 in December (or any month) to put into savings.

  14. jeffrey says:

    I think that is one of the weaknesses of the original plan — it appears simple because the first weeks are so low, but come Dec, you need quite a lot. That’s why I think the “do your best” each week would likely be more successful for most people.

  15. honeybooboo says:

    SOO WHAT AN ERROR GET OVER IT!

  16. PreachNurse says:

    I love the plan. I started this month and I’m already excited about the prospect of the end results. If I’m successful, and I intend to be, I’m going to do it again, saving the money and donating it to my church. To God be all glory!

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  19. jan says:

    how do i get started?

  20. jeffrey says:

    Just print out the sheet and begin :)

  21. Vicky says:

    I like this idea and I am going to try some version of it but the last month is going to be tough saving 105.00

  22. jeffrey says:

    You may want to try this version of the challenge: http://www.savingadvice.com/articles/2013/01/23/1013883_52-week-savings-challenge.html It gives you a lot more flexibility so that you can pay off those big weeks any time during the year

  23. DonnaB says:

    Yes, finding the extra money in December would be tight. However, this plan does not necessarily need to run from January – December.

    It just needs to run for a full year. How about beginning in July and ending in June the following year? Or September and ending in August the next year?

    This way the amount to be saved each week won’t be at the higher levels in December.

  24. RefundCheck says:

    How about starting with part of your tax refund check? Then yo ucan cross out some biggies and keep going smaller. Even $50 in a refund can help. (I hope you get a refund)

  25. Tom says:

    I like the reverse idea. I am in debt to a store card of about $400. Not terrible, but I want it to go away, I can do this payment plan and be done soon. So I’m going to do the reverse plan, pay the $52 to the store card (starting today/Monday) and then next week do the same thing again, until it is paid off.

    Sure I’m not saving, but I’m reducing my debt and that is my goal for 2014.

    THANK YOU for a great way to save and to pay debt down.

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  27. AllofUs says:

    Thank you for pointing it out.

  28. Klsws says:

    I love the “do your best” method and the printout is perfect. My BF often finds no work during the winter months and can work 7 days a week during the summer. This way we can increase/decrease accordingly. We started today, we each will have our own jar. The money will be great for a trip, emergency or to help through the winter months.

  29. Justdumpyme says:

    In my day this little error would have been called a “typo” not a “gotcha!”.

  30. Karla says:

    I’m wondering how people are going to put $52 in savings if they can only afford $1 to start with. If they can afford $25 to $50 a week wouldn’t it be better to put that amount in savings in the first place?

  31. jeffrey says:

    That’s the reason yo put together the “Do Your Best” sheet. It gives a person the flexibility to put down more during weeks they are doing well, and less when things are a bit tougher. Another option for those on a limited budget is the 365 Day Money Challenge with starts with 1 penny and saves about $668 during the year.

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  33. Mary says:

    Thanks for the correction. I’ll change in on my copy.

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  35. Jessica says:

    I am doing this… I just recently learned about the 52 week challenge… Already I am at $393 so far. I do follow the weeks but when I pay cash for something and get change back, I put the dollar bills away as “interest.” The change goes into my 2 year old son’s piggy bank… So this way if for some reason I can put money a side for a couple of weeks, the “interest” will help out at the end… I kinda wonder if the 52 week challenge can be the answer to a lot of people student loan debt troubles??? Plus I wrote out a list of stuff I was buying and figure if I cut out some stuff I can save that money as well. So I am also putting away $6.13/day in savings as well. Within 365 days I should have $2237.45… WOW talking about savings!!!! Going to try to accomplish but that is why it’s call a challenge :)….

  36. Wade says:

    I started this a few months ago and for the first time, I’m actually beginning an emergency fund! I can’t tell you how important this is. I’m happy I found a challenge that makes it so easy. Thanks for sharing this.

  37. ebony says:

    The other day, while sitting around at work, my cousin told me about this. It sounds like a great idea and she has been doing it for two years now. She had no emergency fund when she started and has over $2000 now. I want to give it a try now too. What’s the worst that can happen?

  38. dawn says:

    I think this is information is among the most vital info for me to help me begin an emergency fund. And I’m glad I found and read your article. I think I finally have a plan to start saving some money.

  39. Grimm says:

    My husband and I did this plan this year to help us save up for a holiday vacation with our 3yr old daughter. He gets a holiday check every year (the company puts aside $2 for every hour he works and gives it back to him in July and December) but this money goes to our holiday celebration and presents for the family and charities.

    We chose to double the weekly amounts to make sure we had enough for the trip. We found that rather than increasing the amount every week (or decreasing if you work backwards) dividing the amount we want to save by 52 make things a little simpler and more manageable.

    So in 2015 we will be saving $60 week for a family vacation, $10 a week for the workshop tool fund, $5-10 a week for our emergency fund and $5 a week for our Toys for Tots fund at Christmas. This will free up the holiday checks for a down payment on a new car, maybe.

  40. llc says:

    I love the whole 52 week idea. But the “Do your best” is even more perfect. This way….you can still keep up BUT add “what you can each week”!!! Now how cool is that???!!! OMG….I’m sooooo excited to start this. Gonna start with the $1 a week here at the first of October….then start backwards in Jan after Christmas……then….go from there for the rest of the year!!!!! This whole concept is just TOO cool and so excited I’m almost giddy!!!! LOLOL

  41. llc says:

    And doing the same thing with the “penny plan” is just as cool for youngn’s and teens. Following the same concept (.01 on day one…..$3.65 on day 365: $667.95!!!!! Almost $700 …..JUST FROM POCKET CHANGE!!!!! NOW HOW COOL IS THAT???!!!!

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