Last year, I did a post on the 52 Week Money Challenge. Well, it’s 2014 and people are already excited about the prospect of saving money!
A lot has changed since January 2013. As the challenge gained in popularity, it blew up on the Internet. There are now all sorts of options and variations to the challenge. Here are some different options out there:
- You can do it the traditional way, starting with a $1 in week one, $2 in week two, $3 in week three, etc. By the time you reach the week of New Year’s Eve 2014, you’ll have saved over $1,300.
- You can reverse it and start with $52 in week 1, $51 in week 2, etc. The benefit of doing it this way is starting with the larger deposits so they don’t hit during the holiday season.
- There’s another version where deposits are made in equal amounts each week.
- If you want to save more money, you can find a chart doubling the weekly dollar amounts.
- Mostly bloggers, moms, etc. were doing posts about the challenge. But now, businesses have jumped on the bandwagon. Search on the Internet for banking institutions who are now offering to help their customers use the challenge for saving money.
I’ll let you search for the method that’s best for you. But I will share with you a couple of basic links to get you started.
52 Week Financial Challenge – Entrepreneur Montina Portis has videos to get you started and carry you through several weeks of the challenge.
Kassondra’s 52 Week Money Challenge on Facebook – I believe Montina may have been the originator of the challenge. But it seems to have really gained popularity when Kassondra Perry-Moreland created a Facebook page. If you join her page, she sends out weekly reminders on Mondays. The reminder will keep you on track in terms of week and dollar amount. She also now has a website, Save With Kass, to help participants stay on track by entering the week and dollar amount deposited.
The only caution I will say is that I’m not real keen on keeping the money at home. Nor would I suggest posting too many details on Facebook, Twitter, or other social media.
If you decide to accept the challenge, I encourage you to stay on track and dedicated to the process.