Skip Navigation
52 Week Money Saving Challenge

 2 minute read

 

 “I want to save money.” We’ve all said it but starting the process can be scary and overwhelming. Break down the process with the 52 Week Savings Challenge. It’s simple. Start by saving $1 a week and see how quickly you can reach $1,378!

 

Ready to save extra cash?

 

Get Started

First, you need somewhere to keep your money (other than that jar in your house where you replace your cash with IOUs). Open a savings account to hold your money and earn interest! Transfer funds from your checking account to your new savings account with your computer or smartphone.

 

Set a Goalpaper and pen to write down 3 goals

Are you saving for a down payment on a house, dream vacation or setting up an emergency fund? Set a specific goal to stay motivated. Keep a picture of the goal on your refrigerator or mirror as a reminder. When you are tempted to eat at a restaurant or buy new shoes, look at the picture and remember why you are saving.

 

How it Works

The 52 Week Savings Challenge starts simple. Save $1 for the first week of the challenge. Gradually increase your savings each week by a dollar. As the weeks continue, you gain momentum and your contributions increase. At the end of the challenge you will save $52 per week and a total of $1,378 – plus interest!

 

Stay on Track

We are creatures of habit. It takes several weeks to create a new routine. Help yourself by setting weekly reminders to add money into your savings account. Print off the Money Savings Chart and cross off each week as you make your contribution.

 

As the weeks progress, it’s harder to stay motivated. Set benchmarks and celebrate them. If you save money for the first 13 weeks, then reward yourself. A movie & wine night at home, relaxing bubble bath or ice cream treat make the challenge worth it!

 

Man taking money out of his walletAdjust the Challenge

Our financial situations are all different. Saving small amounts of cash at the beginning of the challenge is simple. Saving $202 the last month can be overwhelming.

 

Afraid you’ll fall off the wagon? Try this: instead of gradually increasing your savings, each week save anywhere from $1 - $52. Print the Money Savings Chart and cross off the amount you saved until all options are marked off. This allows you to save whatever you can comfortably spare that week.

 

Save more money on pay weeks, when you receive birthday cash or bonuses. Keep the smaller amounts for weeks you are tight for money.

 

Adjust the challenge to work for you. The details don’t matter, just keep saving! There are several saving tools available. Find the best method that works for you. No matter how you save money, it’s important to get into a routine and set aside cash consistently.

 

Do you have $1 to spare? Then let’s get started!



  Customer Service Representative and Teller Taylor Foster Connect with us!    Icon of a phone and letter as contact methods      

 

Resources