June 19, 2013
52 Week Money Challenge.
Have you been doing the 52 Week Money Challenge? I first learned about this from several blog writers who were all going to give it a go. We decided to try it out as well, as it seemed like an easy way to tuck away some funds for a rainy day or an emergency fund, without making a huge dent in the frugal budget we live on.
It's a simple process but takes dedication to make it work. The first week, you put $1 in the jar. Week 2, put $2 in the jar. Week 3, $3. Week 4, $4. Easy peasy. By the end of the challenge, you'll put $52 in for the last week & have the grand sum of $1,378.
Then comes the fun part ~ how to spend it! But you have to get there first.
I changed the challenge up a bit for our end goal. I wanted a higher end goal but the same ease of a regular weekly commitment. Above is the chart to show how to deposit into your jar each week. I changed mine to meet our saving needs. We started with $2 a week, instead of the traditional $1. This is the 24th week & we're already at $600. By week 52, the week of Christmas, we'll need to deposit $160 to bring us to our final tally of $3,000.
And what will we do with this sum before starting a new challenge in 2014? Put it into our travel account. It's our 30th Wedding Anniversary next summer & we know we'd like to take a big trip. Not sure where but saving now so it's a possible venture, instead of just a big dream.
Did you join in on the 52 Week
If so, how are you doing?
If not, will you start now?