How the 52-Week Saving Challenge Helps My Family Save Money

saving money

When it comes to trying to plan for the future, my husband and I are all about making and saving a coin. One way we've seen success padding our "just in case sh#t hits the fan" account is trying out the 52-Week Money Challenge.


I know, it sounds like one of those get rich quick emails that shows up in your spam folder, but it's not. In fact, the 52-Week Savings Challenge was reportedly created by an ordinary woman, Kassondra Perry-Moreland, who wanted to do something amazing for her future -- regardless of how much overtime she had to work, just to make end's meet.

The end result is an annual savings of $1,378, that helped to spark a revolution of people who wanted to do the same in their lives.

As you know, there are 52 weeks in the year. This savings challenge requires you to put away money that corresponds to the particular week. For example, you'll save $1 the first week, $2 the second week, and $3 the third week. Eventually, you'll end up depositing $52 on the last week. Tip: It definitely helps to make a 52 week savings chart, or use a calendar so you can remember to deposit your money.

Even though I pride myself on trying to stay in the know when it comes to financial investments, this is something simple I knew I could fit in my life. Rather than set myself up to fail if I couldn't meet a financial savings goal (dang it if something always comes up. That's parenting for ya.), I figured, why not try out a weekly savings schedule?

I'm so thankful I did, because it definitely worked.

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Putting away a buck here and five dollars there wasn't hard at all. In fact, I wanted to kick myself for not doing this in the past. Yeah, $1,378 doesn't make me a millionaire (you can put the money into an investment account that has potential to earn a good return), but you know what it does do? Gives me extra money for my savings account on top of whatever saving I might do throughout the month. It also doesn't hurt to have your partner doing the same. After all, two money pots are better than one.

Because it's a yearly savings challenge, most people start the week of January 1, that will have them end around the week of New Year's Eve. That's all fine and dandy, except for one little thing...

Who the heck wants to save the highest amount each week around the holidays?

Um, I don't -- and didn't.

I guess you could say I did the 52-Week Savings Challenge ... backwards. Personally, I'm jumping for joy at the fact that I'm only putting away a few bucks this time of year. To say it helps free up cash for other needs during the holiday season would be an understatement.

Now, I get that some might have debt after the holidays, making the thought of saving up anything the first of the year a challenge -- let alone a couple hundred dollars in January. You can take the traditional approach, or you can count up all the weeks until you get your tax return (you can count backwards, starting at the week you get your money honey), and use some of the refund you get from Uncle Sam to take the backwards approach. You just have to remember to start week 1 off with $52, and make the commitment to retroactively save (it can be a b--ch, but you'll see results).

As you might've guessed, I'm going to start the challenge again next year. This is money I can use for short or long-term savings -- including much needed vacations, that all mommies need to take. 

You should try it.


Image via Singkham/shutterstock

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