Take The 52 Week Money Challenge To Save Almost $1400
Looking for an easy way to save money? The 52 week money challenge might just be the perfect thing for you. It basically involves saving $1 the first week, $2 the second week, $3 the third… so on and so forth. It’s a fantastic method for people that struggle with saving as you start off with such a small amount so as not to notice it, and gradually get used to living on a little less each week as the year goes on. If you think about it, all you’re losing is one dollar a week. Easy right?
There are some other ways that make work a little better for you however. If you started from week 52 and worked backwards, you would actually be able to take advantage of compound interest rates if you were putting the money into a savings account. You’ll also get the big sting out of the way and know that each week you get through, you’ll have a little more money than the last.
Finally, if your expenses vary than another interesting way of carrying out this challenge is to turn the above picture into a wall chart and, depending on how much money you have in the week, deposit the amount and cross it off. The rules here are that you would still need to cross off all 52 amounts and you can’t deposit the same amount twice. It’s totally up to your judgement as to how much you can afford to put in and what you think the coming weeks will be like.
The 2nd way has the potential to make you the most money but whatever method you pick, you’ll still be saving just shy of $1400 dollars in a year. All you need to do then is decide what you want to spend it on!
Let us know if you’re had a go at the challenge and what way you decided to do it!
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