Smart Money Mom

52 Week Money Savings Challenge Guide

Saving money can be a challenge. No matter how high or low one’s income is. It is difficult for most people to put some money aside for a rainy day or a summer holiday. 

Saving money can be made easy if you look at the bigger picture. If you could start and save a small percentage of your salary each month, imagine what it would mean in real financial terms. 

Regularly saving will give you the financial freedom to take advantage of more of life’s opportunities. 

  • You could plan the special holiday you have always wanted to go on. 
  • Buy the car that you have been dreaming about for years
  • Help contribute to your child’s college fund.

To commence saving, set goals, and have a plan that is easy to implement. This way, you’ll be more motivated to put some money aside continually. 

One saving plan that can be integrated into your daily life without affecting your comfort zone is the 52 weeks money savings challenge.

52 Week Money Saving Challenge Guide


Smart Money Mom

The 52 Week Money Saving Challenge

This is a cumulative saving concept where you save the dollar amount matching the number of the week you’re on in the year. Week one you save $1, week two you save $2, and so forth. When you reach week 52, you will put away the final $52, and at the end of the year, you will have saved a total of $1,378.

This 52 week money savings challenge is a relatively smooth way to cumulate funds. As it doesn’t require you to sacrifice a lot, but it does require commitment. If you need something that will benefit you or your family at the end of the year, this is an ideal saving strategy for you.

To attain your savings goals, you can customize the challenge to fit your needs. Instead of saving $1 on week one save $10, Week two save $20 and so on. If you prefer to keep an equal amount of money every week until you attain your year-end target, it is also acceptable. 

If you’re bothered about overspending during the holidays, try the reversing the saving challenge. You start by putting away $52 in the first week, $51 the second week, and so forth.

The money-saving challenge details are not an issue compared to building up the reserve by the end.

Remaining Focused

For your saving strategy to go as planned, print out our worksheet and tick each week as you save funds to your piggy bank. 

Additionally, have weekly reminders or notifications on your phone or calendar to make sure you do not miss a week. If you skip a single week, make sure to put in funds for that week. 

Depositing just $1 or $2, during the first weeks of the challenge, may seem ineffective, but they help instill a saving habit. They will motivate you to keep going through the following weeks of the challenge, as you head towards week 20, week 40, and finally, week 52.

One more way to make sure you do not miss a week is to open a separate savings account. This savings account is specifically for the 52 weeks money saving challenge. You can automatize the transfers to ensure you follow the challenge. 

This way, you’ll be able to transfer the amount needed each week to the savings account. It should separate from your standard account to ensure you’re not enticed to access the cash before the year is over.

The 52 week money saving challenge is a straightforward way to cumulate savings. Additionally, it encourages a saving culture and builds saving skills. 

It also triggers other good money habits like being pennywise, reducing expenditure, and looking for ways to earn additional income. Chances are, if you stick with this saving strategy, you’ll have saved above $1,400 by year-end.

Thank you for reading! For more money-saving hacks be sure to check out similar posts like “7 Ways To Feed Your Family For $25 A Week” or even “6 Money Saving Challenges To Improve Your Finances“.

Join the conversation on Facebook and Instagram for more helpful information from strong mothers around the world. See you there!

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