Saving money is tough….especially when you are in your teens and 20’s! We’re counting every penny and it’s really hard not to spend it, let alone save it! That is why this 52-week challenge is a great source for young adults or those who need a little push to start saving. It’s time to test your ability to commit and trust me, it will be worth it.
The Money Challenge is a way to save by putting away a small amount of money each week. As the year progresses, your savings will gradually increase so that by the end of the year you will have saved $1,378!
This challenge is perfect for paying off debt or even vacation planning. This could even be the start of your emergency fund!
How does it work?
It’s pretty simple. It’s all about saving a little more each week.
- Deposit $1 on week 1
- Deposit $2 on week 2
- Deposit $3 on week 3
- ………. and so on!
While these are tiny amounts, as the chart above shows, they will add up quickly!
I’ve heard some say they actually put in more money at the start of the challenge and less at the end when money is tight for them. I would suggest putting in more money when you have it to make up for the times when you might be low on funds. This will help you stay on track!
Are you ready to take the 52 Week Money Challenge? If so, I wish you the best of luck! Have fun with it! Share the Money Challenge with your friends and family as well!
Until Next Time,