52 Week Money Saving Challenge Free Printable (2024)

FAQs

How can I save $5000 with the 52-week money challenge? ›

There are no complicated rules to remember. Week 1, you save $1.00. Week 2 you save $2.00, and it continues through the year, adding one more dollar to each week's savings goal. By Week 52, you'll set aside $52.00, which will bring the year's total savings to $1,378!

The 100-envelope challenge is pretty straightforward: You take 100 envelopes, number each of them and then save the corresponding dollar amount in each envelope. For instance, you put $1 in “Envelope 1,” $2 in “Envelope 2,” and so on. By the end of 100 days, you'll have saved $5,050.

The 52-week money challenge is a savings method where you increase the amount you save by $1 every week for a year. So, you'll deposit $1 into your savings account during Week One, $2 during Week Two, and so on, until you reach Week 52 and deposit $52.

If you saved $1 a day for a year, do you know how much money you'd have? Roughly $30,000. This is totally 100% true.

Benefits of the 52-week savings challenge

Helps you identify your spending habits as you find ways to save each week. You can start it at any time of the year, although aligning it with the New Year can make it a productive resolution.

If you want to save $2,000 in a month – aim to have money automatically transferred from your checking account into your savings account each week. This would amount to a weekly deposit of $500 to reach your goal.

After completing the 100 envelope challenge, you'll have saved $5,050. Each envelope will have a certain amount of cash, from 1 to 100. When you add all the envelopes together — $100 + $99 + 98 + $97, and so on, all the way down to $1 — the total amount comes out to $5,050.

To begin, a good rule to follow is the 50/30/20 method: 50% of funds go to needs, 30% wants and 20% to financial goals. Make an envelope for each category that applies: rent, utilities, phone bill, gas, groceries, emergency, savings and leisure. Put aside cash in each envelope corresponding to the amount used.

How to save $1,000 in 30 days? ›

The concept is simple: Take a few envelopes, write a specific expense category on each one — like groceries, rent or student loans — and then put the money you plan to spend on those things into the envelopes. Traditionally, people have used the envelope system on a monthly basis, using actual cash and envelopes.

Getting started is simple: During your first week, you save $1. The next week, stash away $2. Increase the amount saved by $1 each week for 52 weeks — a full year.

The 365-Day Penny Challenge: With this challenge, people make a daily savings deposit and increase their deposit by a penny a day. At the end of a year, they have $667.95 of savings.

Start with the base amount you want to save each week, then the rule adds $1 every week for a year. For example, if you start with $5 on week one, you'll save $6 on week two, $7 on week three, and so on for 52 weeks. In a year's time, you would save a total of $1,568.00.

You can save over $5,000 in just over three months with the 100 envelope challenge. It works like this: Gather 100 envelopes and number them from 1 to 100. Each day, fill up one envelope with the amount of cash corresponding to the number on the envelope. You can fill up the envelopes in order or pick them at random.

The 52 week saving challenge - save £1,378

With this challenge, you save weekly rather than daily. And this amount goes up incrementally. Essentially, you save £1 for each week you are on in the year. So week one = £1 and week 52 = £52.

Set aside an envelope or wherever you would like to save your money in. The first week, put $1 in it, the following week put $2, continue adding an extra dollar each week until you get to week 52 adding $52. You will end up with a total of $1378 at the end of the year. This is a Digital Download - No Physical Product…