52 Week Money Challenge

Are you one of those people who have trouble saving money? Like many Americans, do you live paycheck to paycheck? Do you dread December because you fear you won’t have enough money for Christmas? Well, here’s a solution that may help you.

A co-worker of mine handed me a sheet of paper titled 52 Week Money Challenge. It seemed like an excellent idea for saving money each year. It requires you to put back no more than 52 dollars a week and increases your savings by $1,400 in only a year.

Courtney and I were discussing this and she brought up a good point: try starting in reverse. Most of us have more spending money at the beginning of the year. It may also increase the likelihood of sticking to the savings plan if you’re contributing less and less money each week.

I plan to open my own savings account (as I need to begin saving for future purchases such as a house or new car) and this is a great way to do it. I hope to turn my 52 Week Challenge into a yearly challenge. There is no time like the present to plan for the future. And whether you’re in your mid-twenties like we are or you’re sixty and ready to retire, the 52 Week Challenge could very well benefit you in the short or long term.

~Mallory