We all need money for various reasons; To do business. Example, to buy at low sell at high or for emergency or for survival, etc.
That’s why we are running this task for 52-week savings starting from this year 2020.
And we will also continue to work in future.
What is a 52 Weeks Savings Challenge?
This task was created several years ago to save money. Start saving with a small amount and keep increasing your savings a little more each week. At the end of the 52nd week, you will receive a chunk of the money, which you may not have thought you could save.
Although the main advantage of this task is to create a habit that saves money, it also helps you develop the habit of consistency and diligence. Starting with such a small amount, we urge you to continue this habit of saving week after week without giving up.
How Does it Work?
Start the first week, saving 1 dollar; in two weeks you save 2 dollars; The third week you need to save 3 dollars, etc. Until you reach the last week of the year, 52 weeks when you save 52 dollars. Your savings would have resulted in $1378.
Where to Save Money?
Piggy banks as you can put all your deposits in the piggy bank for each week. Although you are missing the benefits of compound interest rates, this is the most effective way to solve this problem. Again, the compound interest rate will be so small that it is insignificant. It is also good to have a small emergency fund in cash when you need it.
How to Save $5,000+ with the 52 Week Savings Challenge
Print out the below chart (dollar chart) and start checking in a few weeks after completing the task every week. We have also inserted the check tick symbol which you can copy and paste once you completed each weak saving money task with this you can track where you have reached. The first start is half the battle. Sticking to a savings plan will take you on the path to financial success.
Download 52 Week Money Challenge Excel Sheet 2020
Ironically, if the 52-week test of money taught us something, it is that everyone has little to do with it. For those who want to finance their emergency fund or simply start saving, the 52-week task of savings can be an excellent opportunity. Ultimately, these visual reminders can be a powerful sign of saving. But this is not the only option, and you should do your research when you start a savings plan to make sure that you choose the plan that works best for you.
If you do not have a pig, now is the time to buy. Are you ready?