Welcome to Financial Tip Friday! The first of many, I hope.
I’m sure you’ve seen this image before. The 52 Week Money Challenge was posted everywhere at the beginning of last year and has resurrected itself yet again in 2014. It’s an awesome and super easy way to save $1,378 in one year. Even though it’s very easy, I failed the challenge last year. I kept forgetting about it or the end of the week was an inconvenient time for me to go and get cash out so I’ve been looking for a better way to approach the challenge.
Last year, She Makes Cents came up with an incredible way to participate in the 52 Week Money Challenge by doing it BINGO STYLE! Check it out:
By using this method you can spare yourself the larger contributions later in the year around the holidays by making the larger deposits whenever you can throughout the year! At the end of the 52 weeks, you’ll still have the same total amount. You can check out Danielle’s post here and if you’d like her bingo style template you can email her at firstname.lastname@example.org.
I’ve also come up with a way to really intensify the challenge this year!
Level 1 – First Quarter Double
This is a great way to save almost $100 more by just pushing yourself a little harder to save more money.
Level 2 – 26 Week Double
By doubling the totals for half of the year you’re able to save $351 more dollars and the most you’ll have to save a week is $52.
Level 3 – Full Year Double
Now this challenge is not for the faint of heart. This is some serious savings. Saving almost $3,000 in a year on top of what you’re already saving is something crazy! My husband and I both get paid bi-weekly but our pay days happen to fall on opposite Fridays, which is fabulous! So every Friday one of us is getting paid so this could definitely be a challenge that I may have to try and really push myself to do. It won’t be easy and if it becomes too much then I can always go back to the original challenge and still be ahead of the game.
So my challenge to all of my readers is to push yourself and try amping up your 52 week money challenge this year! Try one of these levels of savings and let me know how it goes but hurry because tomorrow is the end of week 1 so decide how much you’ll be saving!
Here is the link for you to download all of the PDF’s of level 1-3 of the 52 Week Double Money Challenge: