When the year starts, most people write down their new year’s saving resolutions and that’s good. But, how many people genuinely finish the year having accomplished all their goals? Bet you can agree that it’s only a few. The problem is that we have goals but most of the times we don’t have a plan on how we will accomplish them.
Saving can be hard especially if it’s your first time. It needs discipline and commitment. That’s why you need a plan on how you can save money. The 52 weeks money challenge will help you come up with a suitable strategy to save money and use it for something beneficial at the end of the year.
Saving Ideas that Will Help You
Saving money means you will have to forgo some of the things that you use your money on. Such include:
Food: The fast food you buy just because you are stressed or because you have cravings will have to go.
Stick to your budget: Sometimes it’s the small things that we buy even without planning. You are walking and you see some jewelry that you had not even planned to buy, and you buy it. That too has to stop. These 52 weeks money challenge will help you to stick to your budget
Cut off on Some things: If you evaluate yourself, you may realize that there are things that aren’t so important like the Netflix you are paying for each month. Cut off on that and start reading books instead
You can choose to put the money you save in a piggy bank, a jar or better still open a savings account. It is also advisable to get a printed out 52-week money challenge plan as this will go a long way in helping you finish your challenge.
Why Choose to do a 52 Weeks Money Challenge?
Accountability: This challenge is a well laid out plan that will keep you accountable for the rest of the year so that you can save the money without fail
The results are rewarding: At the end of the year, you will love the results you will have achieved. You will get to buy that car you wanted, probably pay some bills or finally start school.
How to Save $3000 With the 52 Weeks Money Challenge
In the 52 weeks money challenge $3000, you will save $80 in one week and go on and save $44 in the next week for 44 weeks. When it is week 44, you will continue saving $44 till the 49th week then start saving $24 till the 52nd week. The reason why you are saving $24 as the year ends is because that time will be the festive season and you will need money for celebrations.
How to Save $5000 With the 52 Weeks Money Challenge
If you want to save $5000 at the end of the year, you can begin by saving $20 in the first week and keep increasing the amount by $5 in the consequent weeks. This should continue untill it reaches the peak which is $200 in week 28. You should then begin saving less $5 dollars in the following weeks and until the saving amount reaches $25 in week 52.
At the end of the year, you should have your $5000.
How to Save $10000 With the 52-Week Money Challenge
Saving $10000 by the end of the year is quite a task but still doable. In the first weeks of every month save $125. Save $150 in the second weeks, save $175 in the third weeks and finally $300 in the fourth weeks. This will help you achieve $10000 goal at the end of the year.
