With the New Year quickly approaching, it’s a great time to begin thinking about goals for the future, including financial goals. If one of your financial goals is to save more, or pay down debt, you might want to consider the 52-week savings challenge we have mapped out for you below.
As you can see, the challenge is to save the same dollar amount as the week of the year it is. On the first week, you add $1 to your savings account and on the 40th week, you add $40 to your savings account. If you are diligent and add the suggested amount to your account each week, you will have saved nearly $1,400 by this time next year!
If you’re thinking that adding $52 to your savings account in one week seems like a lot, don’t worry! You only have to do that once and by then, you will be so motivated by seeing your savings account grow, you won’t think twice about coming up with that money.
The 52-week challenge is a great way to grow your savings. Print off our downloadable PDF and put it in a place you’ll see it frequently to remind yourself of your goal. You only have to save a total of $10 in January to complete the first month of your challenge and be well on your way to a total savings of $1,378!