52 Week Money Challenge – A Simple Way to Save Money
Saving money for me is not the easiest thing to do especially since I am always working on just paying the bills. That said, I am always looking for simple and easy ways to save money. I don’t remember exactly how I came upon the Kassondra Perry-Moreland’s 52 Week Money Challenge that is a Facebook Group – Facebook group for the 52 Week Money Challenge but I am glad I did.
For me, I have this nasty habit of leaving saving money to the last bit of my paycheck which results in nothing left to save. But that is the incorrect way to think, as they say, you should pay yourself first.
Yes, pay yourself first even if it’s a small amount which is why the 52 Week Money Challenge appeals to me.
It’s a pretty simple concept really, actually doable and at the end of the 52 weeks you will have actually saved a chunk of change.
So how does the 52 Week Money Challenge work? In a nutshell, in week 1, you deposit $1 in your bank account and build up to depositing $52 in the last week of the year. I don’t know about you but I am pretty sure I can find $4 or $5 or whatever to deposit in my account each week. The last month might be tougher but by then you will have most likely omitted something from your budget to find $52 to save. It’s been suggested to work backwards but I am going to try to start from $1.
Just imagine at the end of the year, you will have saved $1,378 that you can either spend on Christmas gifts, a vacation, pay down a debt or keep on saving. I am planning to actually deposit the money into my daughter’s savings account.
And not to mention, you’ve got some great money at the end of the year, to buy Christmas gifts, get out debt, go on a holiday or keep saving which is what I am planning to do.
Easy peasy, even I can do that.
Do you think this is doable for you and your family to save every week? Do you have easy money tips?
Let us know.
Disclosure: NYC Single Mom was not compensated for this post. I just need to save some money.
