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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!

lisa

Tuesday 20th of January 2015

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.

Ronald G

Monday 5th of January 2015

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

Megan Clifton

Saturday 3rd of January 2015

Awesome idea! I am going to try this for the new year :-)

Paarkum Mariano

Saturday 3rd of January 2015

A great idea and I like these budgeting challenges.

Russell Tombale

Saturday 3rd of January 2015

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