52 weeks to save money: meets the challenge?

The excuses for saving are varied: ranging from “I earn very little” to “I can not create the habit”. The truth is that saving money is possible regardless of salary and lifestyle. Just take the first step and get started.

The fun way for anyone who wants to develop the habit of saving is to stick to the 52-week money-saving challenge. Here’s how it works:

What is the challenge of the 52 weeks to save money?

What is the challenge of the 52 weeks to save money?

The name says, the challenge proposes 52 weeks to save money. In the first week, you save only $ 1. The next week, the amount increases to $ 2. The third, $ 3. Lastly, in the last week of the challenge, you will save $ 52. to save the amount of R $ 1,378. Those who chose to deposit the money in a savings account will still be able to count on the profitability of the book during the duration of the challenge. And, better, without having been de-capitalized for it.

In order not to get lost during the 52 weeks and follow the step by step of the evolution of your savings it is interesting to create a spreadsheet in which you record the current week, the amount deposited and the current balance. For example, in week 24 you will deposit $ 24 and you will have a current balance of $ 300.

What is the challenge for?

The 52-week money-saving challenge is interesting because it’s fun as well, it’s meant to make the participant create a habit of saving. It is clear that seeing the balance of almost $ 1,400 in zero-down savings is very good, but it is important to keep in mind that the main reward of bumping into and following the challenge is that you took the first step to start accumulating equity. After that, just direct your energy to plan and achieve your main financial goals.

How to continue following?

After successfully meeting the 52-week money-saving challenge it’s time to take on higher flights. If you have adapted well to the system and have more organized finances, why not save a little more each week? Increase the amount to $ 2 and, each week, deposit the amount doubled. At the end of the period, you will have accumulated R $ 2,756 (besides the profitability of savings). Increasing the initial amount to R $ 3 the final value jumps to R $ 4,134.

Wanting to deposit more each month is positive and the end result will be substantial. However, before facing the marathon, make sure that you are financially able to handle this turbinate in the amount you are not required to give up on the way.

Saving is a matter of habit. Anyone who wants to have a healthy financial life but is short on cash or does not know where to start will have many benefits when joining the 52-week challenge. Do not waste time: prepare your spreadsheet, call your friends to participate with you and see your savings grow a little bit.

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