Budgeting to Save Money – The 52 Week Money Challenge

52WeekBudgetWouldn’t you like to figure out something new for budgeting for the New Year?

Last night while I was surfing the internet and Facebook I came across several posts talking about budgeting, and saving money as a New Year’s Resolution. Of course we ALL know how hard it is to stick to New Year’s Resolutions whether it’s losing weight, eating healthier, being nicer, not drinking soda, cutting back on spending, watching less TV, spending less time on the Internet and so on. I wanted to share with you something that I think is totally doable and you can also adjust it to your family. You wouldn’t have to follow it completely.

SaveMoney(Source: Unknown, I’d love to credit who made this chart)

Now my first suggestion would be to have week 1 at Week 52, start with saving MORE at first, and go backwards. That way as you get closer to the end of the year, it’s less money you’d have to put in to save especially during those not so budget friendly months like November and December.

Also, adjust to your family! My husband and I are going to follow this, but we are actually going to DOUBLE the amounts each week, so that way we will save even more, and it’s doable for our family. If you can’t do that or follow the one above, cut it in half and you can STILL save, but it won’t be as drastic on your budget if you don’t have the allowance for it.

It’s so hard for families to save these days, and I know people in my family who live paycheck to paycheck, but they still are going to try their best and do this 52 Week Money Challenge. Cut back on things you may throw away your money on such as outings to restaurants, fast food, coffee at your favorite coffee house. You can also start couponing, it really does help. The key is to only buy product you normally would, not just because you have a coupon.
I have a great post on how to obtain coupons for free products or high dollar amounts!

By the end of the year you will have enough money saved to take your family on a vacation, or you can keep saving to the next summer (an 18 month challenge) and take a cruise! There are so many options. You don’t have to stop at the 52 weeks either, you can keep going. Do it as long as you can, turn it into a college savings fund for your child, or a new family car fund (or down payment). They possibilities are really endless, it’s about your family and what you need.

What do you think about the challenge? Will you accept?
Let me know what you think below, I’d love to hear your thoughts!


  1. I like these budgeting challenges. It’s something concrete to look at and meet throughout the year.

  2. Melissa George says:

    i love these challanges. it helps me to keep a track of my expenses and allows me to use money sensibly.

  3. laura rubenstein says:

    This is definitely a challenge. I have a hard time saving.

  4. Joanne Gregory says:

    A great idea. And if you have an account that gives interest on your money, you would get more by putting the larger amount in 1st.

  5. One of my resolutions for the new year is to seriously start budgeting our money. I am not great at keeping resolutions but with so many repairs needed, I have to stick to it. This challenge is one that I am sure I could actually do and feel good about it by the end of next year.
    Laurie Emerson

  6. I think the 52 week money challenge is a great money saving strategy. This is definitely something that I would love to try. Thank you for sharing this post.

  7. MaryJo Tsitouris says:

    Sorry if this is a double post, but I’m not sure if my last post went through. I love this idea! I think it is great and a perfect way to instill money values/lessons in children. My son got a little bit of cash this Christmas and it would be good to start backwards and see where he ends up. Thanks for the review

  8. This is a great idea. I really think your idea of putting in the larger amount first would be a smart thing to do. It seems like the closer I get to Christmas the less I have to save. Thank you so much for sharing

  9. Sherry Martindale says:

    I saw this too, and I am definitely going to try to do this. I think I could actually save some money if I did it in this format. I didn’t have a New Year’s resolution until I saw this 🙂

  10. We always start it off and by month 3 we drop off the chart…Maybe this year 🙂

  11. Luckily, we paid off our house over the summer. I’m pretending that we’re making that monthly payment. That’s been a big help. Of course we have a huge tree that has to be cut down. That’s at least 5,000 there. It’s always something!

  12. Amber Ludwig says:

    I love the idea of going backwards!! More at tax time and the beginning of the year and less around Christmas. Altho I feel like I would be so pressured to spend the money on Christmas presents instead of saving lol! Ugh Im such a bad saver!!

  13. Gladys Aguilar says:

    I think my husband might be willing to do this. I always make a budget, but he’s usually the first to break it. I love the change about starting high and going low

  14. Jessica Haynes says:

    This is a great way to get started. Another tool we use (I think it may have originated from Dave Ramsey) is to budget out every necessity you need every month, give each person in your family a small weekly allowance and put everything else in savings or on debts. It’s working for us and definitely makes us feel more empowered!

  15. So many people have issues saving, including us. This is a great method. I think we will give it a go.

  16. Kayla (@YayGiveaways) says:

    It’s definitely time to look at our budget, with a new baby coming. I feel like we could be saving more, upping our roth contributions, etc, too.

  17. this sounds good, i never really had a budget, but i think this coming year i am gonna give it a try..thanks for this post, its sounds helpful

  18. Lisa Coomer Queen says:

    This is awesome! That would be a great Christmas Savings account too. I’m going to try this. Thanks so much!

  19. Such a great way to slowly save up, while not taxing the finances too much. Great idea.

  20. Christina Strapp Lambert says:

    I will have to see if I am able to follow something like this.

  21. Dorothy Teel says:

    What a great idea and a way to save money without it feeling like a strain and then next Christmas would be all done and have money for Christmas presents, I like you prefer to do it backward and it does not seem like so hard around the holidays

  22. Dawn Keenan says:

    This looks like a savings program that I can handle. Thanks for sharing.

  23. janine martinez says:

    this intrigues me; would require alot of discipline! 🙂

  24. md kennedy says:

    I love the idea of working backwards. And each week I will try to double the amount if I am feeling particularly flush. 50% of my ending balance will go towards my donations at the end of 2015.

  25. Sherry Martindale says:

    I actually think I am definitely going to try to do this. I figure I will do it as long as I can and double the amount when I can. Even if I don’t go strictly by the book, this will still keep saving money at the forefront of my mind.

  26. I think anything that starts you off in the right direction is a good idea. Using money that would have gone to “extras” can take the sting out of it a little. Even if you can’t increase the amount each week, it would still be helpful.

  27. laurie damrose says:

    I really like this idea,thanks for the printout.

  28. I think that this is a terrific idea, however, this is something I have to have a talk with “hubby” about. He is the one who pays the bills (which have been more lately since all the hospital and doctor bills have been coming in from his surgery now). We got in a huge problem financially when he wasn’t working due to his illness and surgery! He’s got another problem now, they think it’s a pinched nerve. He just had an MRI on 12/31 and we are waiting to see the doctor! He is in so much pain that he can’t sleep right and he’s up walking the floors moaning! He hasn’t worked again since Christmas Eve! I just pray he doesn’t need another surgery! I would love to have a budget to save some money! I would prefer to start out backwards though. Get the bigger payments out first and toward the end of the year, have the smaller ones. This is something that really interests me and I have to see what we could do. I’ve asked him to start a Christmas Club for the last 3 years now and he hasn’t done it! Thanks so much for this information and for the chart! I’ll know more after I can talk to him about it! He’s been a bit too grumpy these days to say much on that fact, but as soon as he’s feeling better, we’re having a talk! Thanks again, Michele 🙂

  29. Anna debenedictis says:

    Love that there’s a printout!

  30. Denise Taylor-Dennis says:

    I wanted to do this last year but it didn’t work out, hopefully we can try again this year.

  31. Russell Tombale says:

    Everyone even a teen has a hard time saving and budgeting expenses, this helps a lot.

  32. A great idea and I like these budgeting challenges.

  33. Awesome idea! I am going to try this for the new year 🙂

  34. You have made it so simple, we have both started it..thank you

  35. I don’t have to save for college luckily. I’m thinking about saving for when my husband retires.It’s a way off but not so far ahead that I don’t think about it.

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