Get Money Investing With 52-Wk Saving Challenge

Get Investing Money With 52-Week Saving Challenge

Ian Golightly MBA

The 52-week challenge for saving money is a great way to start investing or to start saving. The challenge is frequently done as a New Year’s resolution, and it’s also a way to take the first step every week to save money towards your financial freedom. Today, I will introduce you to the basics of the 52-week money challenge and discuss modifications you can make to allow this money-saving challenge to work for you.

So What’s The 52-Week Challenge?


The 52-week challenge is a way to motivate yourself to save money into your banking or investing account each week. Each start of the week is assigned a dollar value that represents that week in a 52 week year. Depending on the week’s assigned value, that is a total dollar value that you need to deposit into some account.

For example, the first week, you want to do a dollar increase for each week for the course for a year. So on week one you would deposit $1, the second week you deposit $2, the third week you deposit $3, and until you reach the 52nd week, you will deposit $52. By doing this by the 52nd-week money challenge, you will be able to save around $1,378 in a year.

The result may not sound like an outstanding achievement. Still, if you look up the statistics in the U.S. on the number of individuals who don’t have a minimum of $1,000 in their savings, you should. The numbers are haunting.

The small saving is a great way to start an emergency fund. Most financial experts recommend that you have at least three to six months of living expenses saved up if you may lose your job, have an accident, or something that comes up that is catastrophic to where you cannot work for that time period.


Why Waste Time With A Weekly Savings Plan?


Finding the motivation to save money is a challenge. If it weren’t difficult, then everyone would be doing it. However, automating the process by segmenting a portion of your direct deposit into an investing or savings account can make things a little easier.

One of the benefits of doing the 52-week money challenge is forcing yourself to be reminded about your commitment to saving money every week for a year. Setting a calendar reminder to go off on the first day of every week to make that transfer is a good starting point for the week to feel like you have achieved something great. Also, this is an excellent opportunity to rewire your brain to put you in a saving mindset versus a spending mindset. Being rewired into a saving mindset will probably make you more mindful of making better financial decisions.

Can I Start Later Because Money Is Tight?


The answer is yes, but you shouldn’t. In the first week, you are committed to depositing $1. majority of us can find our first $1 by finding spare change around the house. Also, your first four deposits will only total $10. Most of you reading this blog can find your first $10 for the month by just not going out to eat or withhold from buying something that isn’t a need.

The bottom line is that you shouldn’t put it off and make excuses, but begin saving so you can start investing.

Money Can Be Tight Around The Holidays

Suppose you’re starting at the beginning of the year in January, and you’re concerned about the $202 requirement to meet the last four weeks of the savings plan in December. In that case, one strategy you could take is to flip the schedule. By flipping the schedule, you start with a $52 deposit on week one, a $51 deposit on Week 2, etc. When December hits for that commitment, the $202 will not be needed, and it’ll just be $10.

Keep in mind that you’ll want to do the strategy if you have the means to do it.

Do The 52-Week Challenge With A Modified Version


Suppose you still have your reservations about doing the 52-week challenge. In that case, it might be worth consideration to modify the program that fits you. One way you could do a modification is to print out the chart of all the weekly deposits. Then make one deposit per week, but by going in a random order that fits your current finances and what you feel comfortable doing.

You can start with $22.00 (draw a line on week 22) by doing the modified version. Then the following week, do $1 (draw a line on week 1) and then continue all year by picking the rest of the weeks until you’re completely done. The great thing about this modified version is that you’ll end up with the same result at the very end!

Go Big Or Go Home: Try The 104 Week Challenge


Individuals who complete the challenge are so motivated by the end of the first year that many decide to keep on going and complete the second year of savings. If you choose to do that, you can add an extra $1,378 in two years, but if you decide to continue to increase your saving deposit by $1 each week, you can build $5,500 in just two years.

I’m curious which action plan you’ll take at the end of the year as a strategy to start investing.

Here’s The 52 Week Money Challenge Template


Week Number Amount to Deposit Savings Total
Week 1 $1.00 $1.00
Week 2 $2.00 $3.00
Week 3 $3.00 $6.00
Week 4 $4​.00 $10.00
Week 5 $5​.00 $15.00
Week 6 $6.00 $21.00
Week 7 $7.00 $28.00
Week 8 $8.00 $36.00
Week 9 $9.00 $45.00
Week 10 $10.00 $55.00
Week 11 $11.00 $66.00
Week 12 $12.00 $78.00
Week 13 $13.00 $91.00
Week 14 $14.00 $105.00
Week 15 $15.00 $120.00
Week 16 $16.00 $136.00
Week 17 $17.00 $153.00
Week 18 $18.00 $171.00
Week 19 $19.00 $190.00
Week 20 $20.00 $210.00
Week 21 $21.00 $231.00
Week 22 $22.00 $253.00
Week 23 $23.00 $276.00
Week 24 $24.00 $300.00
Week 25 $25.00 $325.00
Week 26 $26.00 $351.00
Week 27 $27.00 $378.00
Week 28 $28.00 $406.00
Week 29 $29.00 $435.00
Week 30 $30.00 $465.00
Week 31 $31.00 $496.00
Week 32 $32.00 $528.00
Week 33 $33.00 $561.00
Week 34 $34.00 $595.00
Week 35 $35.00 $630.00
Week 36 $36.00 $666.00
Week 37 $37.00 $703.00
Week 38 $38.00 $741.00
Week 39 $39.00 $780.00
Week 40 $40.00 $820.00
Week 41 $41.00 $861.00
Week 42 $42.00 $903.00
Week 43 $43.00 $946.00
Week 44 $44.00 $990.00
Week 45 $45.00 $1,035.00
Week 46 $46.00 $1​,081.00
Week 47 $47.00 $1,128.00
Week 48 $48.00 $1,176.00
Week 49 $49.00 $1,225.00
Week 50 $50.00 $1,275.00
Week 51 $51.00 $1,326.00
Week 52 $52.00 $1,378.00