52 Week Money Challenge Hacks

52 Week Money Challenge Hacks - Chic and Domestic
52 Week Money Challenge Hacks – Chic and Domestic

With the 52 week money challenge being one of the more popular challenges for New Year’s savings, who would I be to not address all of the many many ways to hack the challenge to make it work for you!

Let’s be honest, all of our personal finances are not created equal. Our budgets vary slightly, drastically, and everything in between. Some of us are paid monthly, weekly, biweekly, often, and hardly ever. Yes, even inconsistent paychecks don’t disqualify you from a savings challenge.

Before we get to how to hack the 52 week challenge, let’s first discuss how the original 52 week challenge even works. It’s an incremental savings challenge so your weekly savings will vary. You’ll start week one by saving $1, continue on to week 2 by saving $2, week 3 you will save another $3, all the way through week 52 when you’ll be saving $52 and finishing out with a grand total of $1378 in savings. It’s just that easy.

If you happened to read How To Save a $1000 Emergency Fund, then you’ll know that I love the Qapital app for easy, pain free saving. They even offer the option to set a 52 week challenge rule that will easily transfer your funds for you. I swear by the app, especially if you’re serious about your savings goals. If you try it out today with my referral code you’ll be able to receive $5 FREE towards your first savings goal. Check it out here.

Be sure to check out my post “5 Money Challenges to Try in 2019” for more savings ideas!

Modified 52 week challenges
1. Reverse 52 Week Challenge
Maybe around the new year is when you have a little bit more cash to put aside for savings. The Reverse 52 Week Challenge would probably be right for you. You can still tuck away your weekly commitment, only you will start off by saving your $52 payment first, and end the challenge with your last payment of $1 towards your savings.

2. Modified 52 Week Challenge
The easiest way to modify the challenge to make it work for you is by saving your weekly payments the way you want to! Every week you will make a payment of $1, $10, $42, or $52, whichever one of your 52 payments you can afford that week. Maybe this week you have some extra money so you decide to save $52, but maybe next week you only have $10 to put aside.The easiest way to get this done is by keeping a detailed record and crossing off which one of your payments you’ve already made.

3. 52 Week Biweekly Money Challenge
For the people who get paid biweekly, maybe it will just be easier for you to make one large payment when you get paid rather than making an extra payment between paydays. You can essentially turn the 52 week challenge into a 26 payment, biweekly challenge by making 2 weeks worth of payments at one time. Week one you would be saving $3, and then $7, and then move on to $11, all the way up until week 26 when you put $103 into savings.

4. 52 Week Mini Money Challenge
Maybe you have a tighter budget but you’re still looking to get in on this 52 weeks of savings. No problem at all, you can easily modify the challenge to fit your financial situation. With the 52 Week Mini Money Challenge you can easily save smaller increments of money, and still be working towards a savings goal. You would start week one by saving 50 cents, and gradually increasing that amount by 50 cents every week. Your final 52 week payment should be $26, and you will still end up with $689 in savings by the end of the year.

5. 52 Week Double Money Challenge
Say your financial situation is great right now and you can afford to put a little bit more into savings every week. You can easily double your weekly savings by starting week 1 off at $2, week 2 would be $4, week 3 would be $6, and at week 52 you would be putting aside $104, and ending up with a grand total of $2756 at the end of the year. Look at those savingsss!

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5 Money Challenges to Try in 2019

5 Money Challenges to Try in 2019 - Chic and Domestic
5 Money Challenges to Try in 2019 – Chic and Domestic

With the New Year literally right around the corner, I always see people making goals to save more money. It’s great to finally, or continuously put your finances in plain sight, and start and finish the year off strong. I always like to commit to some sort of money challenge, or make an actual commitment to myself to stay consistent when I’m talking about savings, but let’s be honest, calling it a challenge makes it that much more fun!

This year I figured I would share a few of the many many options there are out there to try out to reach your 2019 savings goals.

1. $5 Challenge
I see people rave about this challenge all the time. It doesn’t personally work for me because I’m not someone who carries around cash too often, but if you are, this could definitely work for you. You essentially save every 5 dollar bill you receive, whether it be from cash purchases, or cash back, and tuck it away for safe keeping until the year is over. Once the year comes to an end, you get to break the bank (and no, I don’t mean crazy spending) and see just how much you managed to save over time.

2. Change Jar

This is one of those oldie but goodies, and perfect for someone who carries cash. You simple transfer all of your loose change from the bottom of your purse, car cup holders, and pants pockets and actually give it a designated spot to be saved until the year is over. Money that we all know you just keep sitting around. See, savings doesn’t have to be complicated at all.

3. 52 week savings challenge
One of the more well known savings challenges would have to be the 52 week savings challenge. It’s an incremental savings challenge, so you start week one by saving $1, continue on to week 2 by saving $2, week 3 you will save another $3, all the way through week 52 when you’ll be saving $52 and finishing out with $1378 in savings.

Be sure to check out my 52 Week Money Challenge hacks for a few modified options here!

4. 365 Penny Challenge
For someone with a tighter budget, all of these larger numbers in savings might be a little bit intimidating. The biggest savings challenge of all is being able to stay consistent. So, the 365 penny challenge might just be right for you. Like the 52 week savings challenge, the penny challenge is also incremental. Every day, (365 days to be exact) you’ll add to your total savings by saving enough pennies to correspond to what day you’re on. Day 1 you’ll save 1 penny, Day 2 you’ll save 2 pennies. By day 365 you should be putting $3.65 into savings, and at the end of the year you will have a grand total of 667.95 in savings.

Savings Hack: If keeping up with daily savings is too hard to remember, just add up the weekly totals and save it that way.

5. Round Up Challenge
I LOVE the round up challenge. If you’ve seen my previous post about How to Save a $1000 Emergency Fund, you’ll know that I utilized the Qapital app and it made it extremely easy for me to set this rule up to make my transfers for me. This is great for someone like me who doesn’t carry cash often, but also wants an easy savings option. All you’re doing is essentially rounding up to the nearest $2 and tucking the change away as savings.

If you try it out today with my referral code you’ll be able to receive $5 FREE towards your first savings goal. Check it out here.


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