52 Week Money Challenge

We could all work on saving more money – and January is a great time to get started. Whether it's paying off a loan, or working toward a much-deserved vacation, this challenge is a manageable way to save a significant amount this year. 

The 52-week challenge basically tasks you with saving money incrementally. During week one, for example, put PHP 50 (or your equivalent currency) in a piggy bank. Week two, add another PHP 50, so on until week 52.

Here’s a chart to see how your entire year will play out –

Another option is to do the challenge in reverse, starting with PHP 2,600 on week one, and going down by PHP 50 increments every week. By December 31, you should can add just PHP 50 to your savings and reach the same total.

How much money will you have at the end of the 52-week challenge?

If you follow this program for one year, you’ll have PHP 68,900 by the end of it. You don't have to stop there, though. If you're willing to save even more, consider upping the week-by-week increase.

But don’t stop there. If you can, you can start with a bigger amount and a larger increment. Here’s an example of the 62-week challenge based on a starter PHP 100 and increment of PHP 100 –

When you do the challenge, it would also be great to grab an accountability partner, someone who can participate in the challenge with you. They'll serve as your support system and sounding board whenever budgeting and saving gets tough.

The 52-week Money Challenge should get you pumped up to save for the year. So start saving! Let’s do the 52 week money saving challenge today!