52-week saving challenge 101
Hello there! Thanks for dropping by. I am indeed inspired to share with you something I have discovered today (not actually just today but in the past month). It is about saving money for a year. Saving money is somewhat difficult for the most of us most especially if we have a lot of likes and wants to buy which are not actually by our budget.
“Saving is difficult to do most especially if it is not our priority.”
Saving money is a great challenge for everyone of us and today’s article is going to talk about the 52-week saving challenge.
What is 52-week saving challenge?
Let us know first what this challenge is all about.
This challenge talks about how you can save money of a certain amount within one year. This idea came from “Kuripotpinay.com” which one of the articles also talks about this challenge. As my personal resolution, I also would like to take this challenge this year and I hope I can survive until the end of this year.
From it’s title “The 52-week saving challenge”, you are challenged to save money in a weekly basis for 52 weeks or 1 year. The challenge takes place when you have specific amount to reach at the end of the year or on the 52nd week.
For example, on the first week since you begin the challenge, you will save 50 bucks, you have to make sure by the following week, you can add another 50 bucks on that previous saved amount to make it 100 bucks, and so on until you complete the 52-week challenge. It sounds difficult and challenging but very effective way to save money without knowing you already have the amount you wanted to reach at the end of the year.
For the sake of illustration, I would like to use Thai Baht as my currency because I am in Thailand as of writing.
In the illustration above, notice that the amount starts from THB 50 and on the second week it became 100, and 150 on the following week and so on. The increment on each week is THB50 which means, you have to add 50 Baht continually to what you have previously saved for 52 weeks; so at the end of the challenge, you can save a total amount of THB 68, 900.00
What if you cannot do the challenge in a weekly basis? Well, that is the question of many of you most especially if you receive your salary in a monthly basis. Please, take a look at the illustration below and see how you can maintain this challenge even if you do it in a monthly basis.
Looking at the date on the photo above, we are already on the 3rd month so as of this time, you should have saved around 4, 550 Baht but if you are still starting, that is fine. You can still do it. Take the current date as your start reference of this challenge and you will be amazed of the result at the end of this 52-week saving challenge.
Saving money is one of the most difficult thing to do at first but ones you are used to it and becomes your habbit, that is easier than what you think. Hope you will read my next saving and money management tips. Good luck and God bless you as you start and end this challenge.