Do you have trouble setting aside money for emergencies or other expenses? Does money burn a hole in your pocket? If so, we've got a relatively easy way for you to set aside $1,378 dollars by the end of the year. Take the 52-week savings challenge to start building your savings today!
Here's How it Works:
- During the first week of the year, you save $1.
- The next week, you save $2
- During the third week, you save $3
- And so on, and so on....
During each week of the challenge, you increase the amount you save by just $1. As the year passes, you’ll see your balance grow more quickly as you save a larger amount each week. Ultimately you’ll put aside $52 in your final week to hit the $1,378 goal.
Actually starting a savings plan is often the hardest hurdle to building your savings. With this approach, you start off slow, and during the earlier part of the year, saving is less of a sacrifice because you are setting aside small amounts each week. As time goes on, you get used to setting aside money each week and it becomes more routine. If you stick with the challenge, you are rewarded with $1,378 in your account as you ring in the New Year.
If you find it is harder to save at the end of a year due to the holidays and other yearly expenses, consider doing this challenge in reverse – in week one start by saving $52, and then reduce your weekly savings by $1 each week. Either way, you still end up with $1,378 at the end of the year.