52 week challenge

The 52 week money challenge is a fantastic and simple way to build a disciplined savings that spans from the first week of the year to the last. The core formula of the challenge has someone adding an amount to the savings that equal the week. At week 16, $16 is added to the savings. As the year progresses, saving becomes more difficult. But, it becomes a necessary discipline.


The Easy Beginning Weeks


The great thing about the challenge sponsored by CaptainCash is that it begins so easy. Actually the whole first half of the year is quite manageable. This gives the challenge plenty of time to sink in as a long-term habit. Saving $5 one week and $10 a few weeks later is feasible. The strategy is just as much designed as a savings technique as it is a way to apply a healthy habit. Some people may begin the following year by doubling their starting number. They can continue for years and build an incredible savings.


A Smart Spin on the 52 Week Plan


Put simply, the 52 week plan is designed solely to end the year with modest savings. There are all sorts of spins one can take, but two stick out as particularly appealing. The first is a double-down on the strategy. Instead of beginning the first week of the year with $1, try for $2. The number at the end of the year will be closer to a very sizable $3,000.


The second iteration is a bit more complicated. If the entire practice is about saving as much as realistically possible, what about making small sacrifices to add to that amount. For example, the $1 for week 1 and $2 for week 2 is a base pay. Someone looking to save big can make small sacrifices throughout the week, and use that for their savings. If they skip the trip to Starbucks on Monday, they can add $4.50 to the savings at the end of the week. If they can’t do that every day, which is fine, they cap out at $4.50. This way, they can decide specifically when they want to make a small sacrifice.


The amount at the end of the year will not only reflect that base pay and great discipline, but it will reflect all the small sacrifices made throughout the year. The extra big headache in the afternoon is long forgotten. That extra big savings by year’s end is the reward.