Free Printable 52 Week Savings Challenge (2024)

FAQs

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

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.

Match each week's savings amount with the number of the week in your challenge. In other words, you'll save $1 the first week, $2 the second week, $3 the third week, and so on until you put away $52 in week 52.

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!

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.

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.

Setting realistic savings goals is essential to ensure that you don't set yourself up for failure. One way to do this is by breaking down your target amount into smaller milestones. For example, if you aim to save $10,000 in three months, you can divide it into monthly targets of $3,333.

January starts with a daily savings rate of $1/day. Every subsequent month increases in $1 increments with December ending in $12/day. You can save a dollar a day for 365 days or have more savings per day and establish an even bigger savings pot at the end of the year!

What is the $3 52 week money challenge? ›

The 52-week money challenge is a fun and effective way to stash money away to start or bolster your savings. The most common way to complete the challenge is to start by saving just $1 in week one and increasing what you save by $1 each week, saving $2 in week two and $3 in week three, all the way up to $52 in week 52.

The first thing we need to know is how much $100 per week works out to on an annualized basis. There are 52 weeks in a year. That means that, after a full year of saving, $100 per week adds up to $5,200.

The 52 week saving challenge - save £1,378

Essentially, you save £1 for each week you are on in the year. So week one = £1 and week 52 = £52. Like the larger daily challenges, this will require other savings efforts as you'll be putting some significant sums of money into your savings pot by the end.

But know that this savings plan is effective, and it can help you sock away more than a thousand dollars in a year — $1,378 to be exact. You could build up even more if you put the funds in a high-yield savings account. Doing the challenge takes commitment, but it's easy to start.

The concept is simple — in the first week, you save $1; in the second week, you save $2; then in the third week, you save $3, and so on. As each week progresses, the amount you save increases by just one dollar. By the end of the last week of the year, you'll be saving $52 for that week.

The first step to reaching any financial goal is to break it into bite-sized pieces. If you want to save $5,000 in one year, you'll need to save approximately $417 a month. That's about $97 a week.

So, every two weeks, you should set aside about $833.33 to meet the $5000 goal by the end of 3 months.