The 52 Week Money Saving Challenge

Wouldn’t you like to figure out something new for saving money in 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.

(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 strive to double the amounts each week, so that way we will save even more.

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 who live paycheck to paycheck, but anyone can still 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.

By the end of the year you will have enough money saved to take your family on a small vacation, or you can keep saving for the next summer (an 18-month challenge) for even more vacation money. There are so many options.

You don’t have to stop at the 52 weeks, 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). The 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!