52 Week Money Saving Challenge Printable The Premise Behind The 52 Week Money Challenge Is Simple. (2024)

FAQs

What is the simple 52 week savings plan? ›

There are no complicated rules to remember. Week 1, you save $1.00. Week 2 you save $2.00, and it continues through the year, adding one more dollar to each week's savings goal. By Week 52, you'll set aside $52.00, which will bring the year's total savings to $1,378!

But know that this savings plan is effective, and it can help you sock away more than a thousand dollars in a year — $1,378 to be exact. You could build up even more if you put the funds in a high-yield savings account. Doing the challenge takes commitment, but it's easy to start.

With this challenge, you save weekly rather than daily. And this amount goes up incrementally. Essentially, you save £1 for each week you are on in the year. So week one = £1 and week 52 = £52.

The 100-envelope challenge is pretty straightforward: You take 100 envelopes, number each of them and then save the corresponding dollar amount in each envelope. For instance, you put $1 in “Envelope 1,” $2 in “Envelope 2,” and so on. By the end of 100 days, you'll have saved $5,050.

52 Week $5 Challenge

When you finish at 52 weeks, you will have a whopping balance of $6,890! This is an awesome $5 challenge for anyone trying to save a decent emergency fund or even working on a down payment for a home.

If you keep up with the 52-week challenge for the whole year, you would put away $1,378. Even more impressive is that you would save $250 of that in just the last month of the year!

You'll end the challenge with over $1,300 saved If you successfully complete the 52-week money challenge, you'll have $1,378 set aside. You may have that earmarked for a specific financial goal —or you may choose to put it in a high-yield savings account as the start of emergency savings, if you don't already have one.

By the end of a 365 challenge, you will have saved over $667.00! For the very first day, you have to save 1 penny in a specific jar that you assign to your Penny Challenge. On the second day, you have to put two pennies in the same jar, and so on.

With no interest involved, putting one dollar a day into a bank account (or a jar at home) will see you end up with $365 in a year. Multiply that amount by 30 years and you'll end up with $10,950. Now let's factor in an interest rate of just 1%.

How to save $5000 in 100 days? ›

It works like this: Gather 100 envelopes and number them from 1 to 100. Each day, fill up one envelope with the amount of cash corresponding to the number on the envelope. You can fill up the envelopes in order or pick them at random. After you've filled up all the envelopes, you'll have a total savings of $5,050.

The Gregorian Calendar has fifty-two full weeks and an extra day in a normal year, while a leap year has fifty-two weeks and two additional days. When you convert 52 weeks to days by multiplying by 7, the result is 364 days, which is one day short of the actual number of days.

Take stock of your savings At the end of 100 days, you'll have 100 envelopes containing $5,050. That's right—1 + 2 + 3 + 4 and every other number through 100 equals just over $5,000.

You don't have to cut back on spending. You don't have to put aside an obscene amount of money each month. All this challenge requires is for you to stash away every $5 bill you get as change. That's it.

Match each week's savings amount with the number of the week in your challenge. In other words, you'll save $1 the first week, $2 the second week, $3 the third week, and so on until you put away $52 in week 52.

You'll end the challenge with over $1,300 saved If you successfully complete the 52-week money challenge, you'll have $1,378 set aside. You may have that earmarked for a specific financial goal —or you may choose to put it in a high-yield savings account as the start of emergency savings, if you don't already have one.

How much of a difference could investing $10 a day make? Investing $10 a day can have a huge impact on your financial future because it has a snowball impact. The $10 a day adds up to $3,650 a year -- which is a pretty good sum of money. And, once you have invested that money, you get to benefit from compound growth.

A year is 52 weeks, so 6 months is 26 weeks. If you were to save $100 per week, that would be $2,600 after 26 weeks.