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52 Week Money Challenge Different Convenient Approach

Updated on February 17, 2014

Most of us(if not all) heard of the 52-week money challenge. Some people say that this doesn't work on all people. Well, I disagree. If you already set your mind about not making it then you're not up for the challenge my friend. There are a lot of saving methods out there but this is by far the easiest in my opinion. But for those who doesn't know this is how it works yet

What Not To Do

Don't Spend it! Its simple, if you want to save then don't spend it unless its an emergency. If you are thinking of even spending it just because you saw something you like and probably you're thinking you'll repay it anyways. DON'T! You need to have discipline. You'll develop a norm of spending / repaying it and eventually you're going to spend all of it And of course I'm saying don't spend it yet until you're done with the challenge.

What To Do

Save money in 52 weeks (1 year). Increment the amount desired from previous week (if you start at 20 you need to deposit 40 the next week and then 60,80,100,120 and so on)


As it increments the amount gets bigger and you might not be able to deposit the full amount in the last few week and would result to not completing the challenge.

Different Approach

You might have had done this before but did not noticed it. You don't to save the amount for that specific week. Here's a new approach to this saving method.

Save what you have / what you can:

I was on my 3rd week of the challenge and I realized I may not be able to deposit in the last few weeks (Nov-December). I know I have plans during that time and might not have enough money. So I thought of doing it backwards (decreasing), but I don't have the max amount to start with. So I figured, how about depositing the maximum cash that I can on that week? This way if I don't have enough cash for a week then I can deposit on the smaller amount.

If you can deposit more, the better:

This speaks for itself. If you have more money than what is on your list then don't hesitate to save it! This way the challenge will be over soon before the year ends.

Deposit your money as early as possible

If you can deposit a certain amount (hopefully max) before the week ends then do it. This way you don't have to worry when the week ends

If you have extra then drop it

Simple. Given you already deposited early and if you have extra cash within the week, drop what those extras in to your money jar. But don't count it as a savings for the weekly challenge because the point of this is so that you'll have more when you're done or at least more on what you expect.

My chart so far. As you can see I wasn't able to save on the 2nd week and had more on the next weeks.
My chart so far. As you can see I wasn't able to save on the 2nd week and had more on the next weeks.

Save Save Save

At the end of the day it all boils down to discipline. You have to be fully committed to do this otherwise you'll end up spending it on your early weeks of the challenge. If you can't save this week, that's ok. You just have to make up for the next week. It'll be a long wait but when the time comes you open / break your money jar. I promise you'll be happy you did this challenge. Also I assure you after 52 weeks, you'll say "that wasn't so hard after all".

PS: If you need the excel template that calculates your weekly savings then just leave a message and I'll send it to you.

Are You Doing The 52-Week Challenge?

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    • Jodah profile image

      John Hansen 3 years ago from Queensland Australia

      Thanks, I'll do my best.

    • Nino Gomez profile image

      Nino Gomez 3 years ago

      You can choose how much you want to save. you can start lower and just make it up in the future if you are behind (Honestly, I'm behind few weeks).

      The point of this is to motivate you to save. If you can't save for this week or the next, then that's ok. At the end of the year you know you have saved some and that is what's important.

    • Jodah profile image

      John Hansen 3 years ago from Queensland Australia

      If only this was possible...we can all wish. It may be for some people but not me unfortunately. Thanks for telling me about it anyway. Good hub.

    • profile image

      GuessWho 3 years ago