Saturday, May 31, 2014

26 Week Money Challenge

Update: 12.31.14

Its almost the new year and I think many of you have the same idea when it comes to buckling down and saving those pennies. I had posted this awhile back (under a different name) and some how the link for the printable has decided to take a break. I noticed an increase in traffic regarding this post on Pinterest so I wanted to make sure those of you that want to print this can. Happy New Year!!

How many of you have heard of the 52 Week Challenge or 26 Week Money Challenge? If you haven't just search it on Pinterest it will pop right up. If you are trying to save but can't really organize yourself to do it consistently this is the perfect solution. It gives a goal for each week and if you are like me and know that your paycheck can vary you will be able to budget your savings more efficiently.

I started the challenge in January but slightly modified it to better fit my saving goal. Instead of saving a dollar the first week like the 52 Week Challenge the 26 Week Challenge raises it to $3.00. I have broken the year up by doing it as two 26 week rotations to maximize my savings for the year. I am still saving more than if I just do the original 52 Week Challenge but it better fits my budget. Once you have put week 26 in the jar you just start the 26 weeks over. You can start on week one or if you want to work backwards start on week 26.

You have a couple of ways to make sure you actually save the money and don't just spend it. You can place the money in a jar that you know will be hard to access or put it into a savings account that you don't use often. I did a combination of both, a water jug that was hard for me to take money out of and when I got to a certain amount I would place the money into a savings account. The perks of doing this are the dividends that I earn in my savings account!

If you are up for the challenge use the above printable to keep track of your progress. Remember if your budget varies save the bigger weeks when you know there will be a little extra in your account.

Happy Saving!

1 comment:

  1. Thank you this is a great idea. I will do my best to stick to it.