by Maria Koropecky, Wellness Coach
Since we’re heading into a new year, I thought it would be nice to share a system to save an extra $1378 in 52 weeks.
Who couldn’t use an extra $1378 in their pocket one year from now?
52-Week Money Challenge
It’s called the 52-Week Money Challenge.
You may have come across this 52-Week Money Challenge system before and you may have thought it was a good idea, but for some reason you didn’t follow through. Well, it’s a new year and a new you so let’s give it another try together!
And if you have managed to save money with this challenge in previous years, please let us know in the comments and share your tips on how to be a successful saver!
In my coaching conversations, I talk about practicing self-care often and saving money is part of a healthy Financial Self-Care plan. I highly recommend getting into the habit of paying yourself first and tucking away some money for your future!
Anyway, I’m planning to follow this 52-week Money Savings Challenge myself each week for the next 12 months and I’m inviting you to join me. It’ll be fun!
There are 3 different ways that you can participate in this 52-Week Money Savings Challenge so don’t feel like you have to follow it to the original letter (Option #1) to be successful.
Option #1 — Original Method
- Week: 1, Deposit: $1, Account Balance: $1
- Week: 2, Deposit: $2, Account Balance: $3
- Week: 3, Deposit: $3, Account Balance: $6
- Week: 4, Deposit: $4, Account Balance: $10
- Week: 5, Deposit: $5, Account Balance: $15
- Week: 6, Deposit: $6, Account Balance: $21
- Week: 7, Deposit: $7, Account Balance: $28
- Week: 8, Deposit: $8, Account Balance: $36
- Week: 9, Deposit: $9, Account Balance: $45
- Week: 10, Deposit: $10, Account Balance: $55
- Week: 11, Deposit: $11, Account Balance: $66
- Week: 12, Deposit: $12, Account Balance: $78
- Week: 13, Deposit: $13, Account Balance: $91
- Week: 14, Deposit: $14, Account Balance: $105
- Week: 15, Deposit: $15, Account Balance: $120
- Week: 16, Deposit: $16, Account Balance: $136
- Week: 17, Deposit: $17, Account Balance: $153
- Week: 18, Deposit: $18, Account Balance: $171
- Week: 19, Deposit: $19, Account Balance: $190
- Week: 20, Deposit: $20, Account Balance: $210
- Week: 21, Deposit: $21, Account Balance: $231
- Week: 22, Deposit: $22, Account Balance: $253
- Week: 23, Deposit: $23, Account Balance: $276
- Week: 24, Deposit: $24, Account Balance: $300
- Week: 25, Deposit: $25, Account Balance: $325
- Week: 26, Deposit: $26, Account Balance: $351
- Week: 27, Deposit: $27, Account Balance: $378
- Week: 28, Deposit: $28, Account Balance: $406
- Week: 29, Deposit: $29, Account Balance: $435
- Week: 30, Deposit: $30, Account Balance: $465
- Week: 31, Deposit: $31, Account Balance: $496
- Week: 32, Deposit: $32, Account Balance: $528
- Week: 33, Deposit: $33, Account Balance: $561
- Week: 34, Deposit: $34, Account Balance: $595
- Week: 35, Deposit: $35, Account Balance: $630
- Week: 36, Deposit: $36, Account Balance: $666
- Week: 37, Deposit: $37, Account Balance: $703
- Week: 38, Deposit: $38, Account Balance: $741
- Week: 39, Deposit: $39, Account Balance: $780
- Week: 40, Deposit: $40, Account Balance: $820
- Week: 41, Deposit: $41, Account Balance: $861
- Week: 42, Deposit: $42, Account Balance: $903
- Week: 43, Deposit: $43, Account Balance: $946
- Week: 44, Deposit: $44, Account Balance: $990
- Week: 45, Deposit: $45, Account Balance: $1035
- Week: 46, Deposit: $46, Account Balance: $1081
- Week: 47, Deposit: $47, Account Balance: $1128
- Week: 48, Deposit: $48, Account Balance: $1176
- Week: 49, Deposit: $49, Account Balance: $1225
- Week: 50, Deposit: $50, Account Balance: $1275
- Week: 51, Deposit: $51, Account Balance: $1326
- Week: 52, Deposit: $52, Account Balance: $1378
Option #2 — Random Method
Option #2 uses the same chart as above, but instead of following the incremental order as outlined, you can pick any amount from the list and deposit that amount during any given week. You may want to get some of the bigger ones out of the way early so they don’t all pile up at the end and stop your progress. Just remember to check them off as you go!
Option #3 — Equal Installments Method
Option #3 is perhaps the easiest option of the them all. Some people stop doing the 52-Week Savings Challenge part-way through because they forget which week they’re on and how much they’re supposed to deposit at that time.
The answer is depositing the same amount into your savings account each week, every week. No pressure, no guesswork. In this case, if you still want to go for having an extra $1378 at the end of the year, just deposit $26.50 each week (or $1378/52 weeks) like clockwork for 52 straight weeks!
Whatever option you choose, have some fun with this. Remember you’re a creative and resourceful human being — you can find this extra cash if you keep your eyes open!
But if you happen to miss some weeks, that’s OK. Just pick up where you left off and keep going. Even a fraction of the $1378 is better than nothing!
Tips to Save Money
First of all, in order to start saving money on a regular basis, it’s important to have a safe place to keep your cash. You can open up a designated Savings account at your bank. You can also save your cash in a special jar at home.
Just make sure you know your opening balance in your Savings account or piggy bank before you start adding cash so you know your starting point and then watch your savings grow from there!
Some experts suggest moving 10% of your paycheques into your savings account each time you get paid before you spend it anywhere else. You can set this up automatically with your bank.
You can also slide a certain dollar amount or percentage over to your savings account every time you use your debit card.
Also, if you get paid in tips, (which is free money in a way) try salting those coins and dollar bills away instead of spending them.
Another savings trick is to pay cash for everything. It’s old school but it may help you be more conscious of where you’re spending your money and how much you have on hand. Also, anytime you have some change leftover from your cash purchases, set it aside as well!
With cash, you also save your money because you’re not paying interest charges on top of the original purchase price for years on end on your credit cards. Why pay unnecessary bank charges?
Another savings tip comes after you buy something on sale. You know how your receipt often says, “You saved X-amount of dollars on your purchase?” Well, if you want, you can quickly move that same X-amount of dollars into your Savings account right after your shopping trip and actually save the money before you spend it on something you don’t really need. And then you’ve actually saved the money the store said you did!
If you’re starting with me today, you have until end of day on Saturday, January 5, 2019 to make your first deposit. Of course, you can start this anytime of year.
During this first week, think about what you’d like to do with your cash in 365 days. Knowing the why behind your effort and commitment to saving your money will help you stay focussed on your goals.
So, what is your intention for saving this money?
- Are you saving money to go on a trip?
- Are you paying for your own upcoming wedding?
- Are you planning to put the cash towards a downpayment on a house or car?
- Are you thinking of investing in yourself by going back to school or signing up for a coaching program?
- Do you want to give this money as a gift to someone else?
Whatever you do, don’t say you’re saving money “for a rainy day” because that’s too vague and you’ll just end up creating a bunch of rainy days.
Save for something you’re excited about having one day. In our culture, we’re all about getting instant gratification but I invite you to train yourself to think beyond instant gratification and strive for the long-term. That’s what savings is all about!
Also, please resist the temptation to withdraw from your Savings Account before the end of the year! Keep it to DEPOSIT ONLY!
Add some Sparkle to this Savings Challenge
Also, as a bonus option, if you want to add some sparkle to your 52-week money savings challenge, you can:
- Create a Pinterest Board or Vision Board
- Say affirmations like, “My Savings account is growing and growing each day.”
- Wear crystal jewellery such as Amazonite, Amber, Bloodstone, Citrine, Garnet, Green Aventurine, Jade, Morganite, Peridot, and Tiger’s Eye to remind yourself of your goals.
- Use cloves as an essential oil and in cooking because it helps with prosperity.
Please let me know if you’d like to participate in this challenge and we can help each other stay on track. I’m looking forward to celebrating with you at the end of the year next year!
Good luck! Maria
Would you like to have some spiritual guidance on this topic? Consider signing up for a Free Crystal Mapping Session with Spa Therapist and Wellness Coach, Maria Koropecky. Email Maria to book your free Crystal Mapping Session today!