A new year means a new chance to read up on some money saving tips so that we'll have a bit of extra cash for those things that were just out of reach last year.
Whether you're paying down some debt, saving for a warm vacation, or itching to renovate the basement, we're all looking for ways to make that wish-list come true faster.
That's why we recommend starting 2019 off right by doing this 52 week money challenge!
Money Saving Tips: The 52 Week Challenge
This is a perfect New Years money saving challenge because each month you put away a bit more until you end up saving $1,378.00! You don't need to open another bank account to do it, a jar will do just fine for this one!
How does it work?
This money challenge is super easy to do, not like some of the unrealistic tricks and money saving tips out there.
This is a consistent 52 week savings plan that can fit any budget! Get started here:
Step 1: Start by saving $1 in the first week of January
Step 2: Increase the amount by $1 dollar for each week of the year
Step 3: For example: $2 in January week 2, $3 in January week 3
Step 4: Repeat this until you reach week 52, the final week in December
Your final deposit of $52.00 will bring your total savings up to $1,378.00!
You can of course tailor this money saving challenge to fit your income, budget, and goals. For instance, you can do it in reverse where you start by making bigger savings in January and gradually decrease the amount each week. This is a good method to consider if you're worried about saving money during the holidays.
Want to Save More Money?
You can also try doubling the weekly amount ($2 the first week, $4 the second, $6 the third, and so on) which will add up to a grand total of $2,756 at the end of the year. You can keep increasing from here if you need to save more money for a specific total.
Download Your Free Savings Calendar
Download and use this savings calendar as reminder of your progress to keep you on track throughout the year!
Sometimes it can be very tempting to just skip a month, but when you use this visual as a reminder that those little bits add up to say - a vacation? It makes it easier to say no and save.