52 Week Money Challenge

A 52 Week Money Challenge that is not only fun but will help you build your nest egg or save up for something special!

The 52 Week Savings Challenge is a personal finance challenge where, for 52 weeks, you save a specific amount each week. It is a strategy that helps people acquire better saving habits and learn to slowly save money. There are many variations of this money-saving challenge. The idea is that even if you save small amounts of money, it’s the consistency of the action that will set you on the right track to saving. Even though you don’t save much each week, over the course of 52 weeks, it will add up. You will save more than you would have and it will help you believe that a better financial future is possible.

I have an MBA in finance and I love helping people take care of their financial future. I also love anything named a “challenge”. Therefore, the 52-week money challenge is just up my alley. 52 weeks is long enough to save a substantial amount that you can use for a rainy day, to take a vacation, make a down payment on a car, or buy something special. On the other hand, you are not committing to a lifetime savings plan.

What is the 52 Week Savings Challenge?

This is a weekly savings challenge during which you save money each week for 52 weeks which is just under a year. There are different versions of the 52-week savings plan. During the classic 52-week money-saving challenge, you save an incremental amount of money each week for 52 weeks (which is one year). The initial amount is low, and it increases each week. This 52 week savings plan is good for people who want to start out slowly and get used to saving or those who will earn more throughout the year. The second variation also has an incremental sum but it goes from the highest to the lowest. The largest deposit is made in the beginning. This variation is good if you start the first week of the year and know that you will have a lot of expenses in November (Black Friday) and December (Christmas). The third variation has a fixed sum each week.

There are other money saving challenge options on this site.

How long is 52 weeks?

52 weeks is exactly one year. So if you start the challenge on New Year’s you will complete it on the 31st of December. You can start anytime and carry on for one year.

52 Week Savings Plan

The amount that you can save every week depends on how much you make and how much you spend. See how much should you save a month.

Increase your savings by $1 per week

The first week is very easy as you only save $1. From the second week, you save one more dollar each week. Therefore, in the second week, you need to save $2 and in the third week $3. This goes on, with your savings increasing by one dollar each week until you reach week 52 where you save $51. This version of the challenge is for people who need to slowly get used to saving and make gradual changes over the year until they learn how to save bigger amounts. In the beginning, it is very easy to reach your goal. However, the last few weeks are much more challenging.

Please note that with our saving charts you can change the initial sum if you want to save more each week. The Excel money saving chart will automatically calculate how much you will save during the year.

Fixed weekly savings

With this version of the 52-week savings challenge, you will be setting aside a fixed amount of money each week. The first few weeks of the money savings challenge are more difficult than they are in the first version but the last few weeks are not as challenging.