52 Week Money Saving Challenge! The Easy way to Save $1,378

By Admin Wednesday, March 7, 2018

When they consider it as a challenge that they have to face every week for the coming 52 weeks many people get scared. But, the truth is that it is a very simple as well as practical way to save money. Saving money and reducing expenses are two sides of the same coin. Many people start to worry when they are asked to reduce the spending all of a sudden. 

However, when they clearly understand the 52 Week Money Saving Challenge they are relieved of the anxiety. There is no imposition of any drastic austerity measures. It is a gradual process of saving money and the program starts with saving just $1 in the first week. 

Then every week increase the saving by $1 – ie. In the first week save $1, in the second week save $2, in the third week save $3, the fourth week save $4 and so on ……… and at the end, on the 52nd week of the year save $52. 

On December 31st the total savings of the year will be $1,378. This is an excellent example of small saving that grows gradually without causing any hardship. This is a simple and effortless way of saving money but a very systematic way of saving. 

The accumulation of $1,378 as your savings at the end of the year is the reward that one gets for systematically saving money throughout the year. Since one takes a commitment to save a few dollars every week of the year he is able to develop the habit of saving money. 

Helps to develop saving habit and attain financial stability

The 52 Week Money Saving Challenge is a savings plan that is voluntarily chosen by a person. He has full freedom in deciding the ways to save money every week. On a particular week of the year he has to save $10 as part of this program. 

The person who chose this program only has to decide how to save $10 in that week by reducing his expenses. He will be deciding where to cut and where to adjust. Hence, apart from building the habit of saving he becomes more efficient in managing the finance by controlling expenses and ensuring some savings at the end of every month. 

Since every week one has to save more by $1, he will find more ways to save money and as a result extravagant expenses will be minimized. At the end of the year when you find that you have saved an amount of about $1400, you become more confident of your saving ability and will be saving more in the succeeding year. 

Hence the 52 Week Money Saving Challenge is indeed a promising beginning and it is sure to nurture one’s saving habit and will ensure that every year a substantial amount of money is saved. 

This saving program is an excellent reminder to save a little amount of money every week. The spirit to save money on a weekly basis will certainly help to curtail the expenses and will help you to a great extent to attain financial stability.

Really inspiring

At the beginning of the New Year we will have ‘Resolutions for the Year’ and the resolution to implement the 52 Week Money Saving Challenge’ will ensure that we will have more money in our pockets at the end of the year. 

At the end of the year, when we look back to the previous 12 months, we will have a great feeling of satisfaction. 

We realize how we could curtail our expenses and increase our savings and as a result we get the inspiration to save more in the coming years. Another great advantage of this simple and easy savings plan is that each member of the family can get involved in it and contribute towards creating a larger amount as savings by the end of the year. Every one of us is eager to earn more money. 

However, controlling and thereby reducing the household expenses is an effective way to reduce the requirement for more money. We are relieved of the financial stress when we see that every month our savings are growing. Many people may feel that if we keep the money in the home we may have the tendency to take the same out and spend when there is urgency. 

In that case at the end of every month the savings of that month may be credited to your bank account. The money deposited in the bank will fetch interest also and as a result your savings will grow faster.

Easy methods to curtail expenses

The 52 Weeks Money Saving Challenge becomes really challenging when you find that you are required to save more every week and that up to the 52nd week you have to save $1 more every week. However, this is not a very tough task. If one is ready for some minor adjustments, the target can be easily met. 

One may go through the electricity bills of the previous months and there will be enough scope to reduce the consumption. Substantial saving on the electricity bills will make the task easier. One has to take maximum advantage of the discount coupons that are offered for the various household items. Savings through coupons enable you to save more than your expectation. 

Similarly the subscription services ensure substantial savings in the purchase of grocery and other household goods. Since you need not go to the store physically you can save a lot on fuel and also you can save your time. 

Additionally, when you purchase in bulk the items that are essential and are required regularly, you can avail cash discounts. Through subscription services one can have the advantage of member savings also. 

While purchasing the various food products, one need not go for the branded items always. The generic products that we come across in the departmental stores are also of the same quality but of lesser prices. By way of online shopping one can take the advantage of various cash back deals. 

Dining out is not a necessity most of the times, but rather a luxury. While the ‘luxury eating out’ can be curtailed, the ‘necessary eating out’ can be made less expensive by paying through a cash back credit card and also by eating from selected restaurant that provide special offers such as early bird cash discounts, ‘eat free for kids’, ‘free stuff on your birthday’ and ‘discounted gift cards’. 

Make it a point to sign up with the restaurants that send emails or text alerts about the special offers.

For the Year ahead

52 Week Money Saving Challenge promises you that at the end of the year you will have $1,378 in your pocket. Then starts the next New Year and you have the Resolution to save $2 in the first week, $3 in the second week, $4 in the third week and so on. 

It will be possible because by that time you will be an expert in controlling expenses and creating more savings.