52 Week Challenge: A Helpful Guide

Kat brancato

Saving money is essential to financial success. Having a healthy savings account can help you with emergencies, prevent you from racking up debt, and have money to do fun things, like take a dream vacation. But do you find it hard to save money? Saving money doesn’t have to be difficult. In fact, it can be fun, thanks to the 52 week saving challenge! 

In this guide, we will answer questions such as “How does the 52 week challenge work?” explain how to get started, and tips for staying motivated to save money.

What is the 52 Week Money Challenge? 

So, what is the 52 week money challenge? Well, it’s exactly what it sounds like, a savings challenge for 52 weeks. It’s pretty easy to follow, and when you are done, you will save $1,378 in just a year.

You save $1 the first week and continue increasing your weekly savings by $1 every week. So, the first week you save $1, the second week is $2, and it keeps going until you save $52 on the final week at the end of the challenge. 

Here is a weekly schedule of the 52 week saving challenge:

WeekWeekly DepositTotal Savings
Week 1$1$1
Week 2$2$3
Week 3$3$6
Week 4$4$10
Week 5$5$15
Week 6$6$21
Week 7$7$28
Week 8$8$36
Week 9$9$45
Week 10$10$55
Week 11$11$66
Week 12$12$78
Week 13$13$91
Week 14$14$105
Week 15$15$120
Week 16$16$136
Week 17$17$153
Week 18$18$171
Week 19$19$190
Week 20$20$210
Week 21$21$231
Week 22$22$253
Week 23$23$276
Week 24$24$300
Week 25$25$325
Week 26$26$351
Week 27$27$378
Week 28$28$406
Week 29$29$435
Week 30$30$465
Week 31$31$496
Week 32$32$528
Week 33$33$561
Week 34$34$595
Week 35$35$630
Week 36$36$666
Week 37$37$703
Week 38$38$741
Week 39$39$780
Week 40$40$820
Week 41$41$861
Week 42$42$903
Week 43$43$946
Week 44$44$990
Week 45$45$1,035
Week 46$46$1,081
Week 47$47$1,128
Week 48$48$1,176
Week 49$49$1,225
Week 50$50$1,275
Week 51$51$1,326
Week 52$52$1,378

How to start the 52 Week Challenge

Are you ready to pump up your savings with this fun money challenge? Here are the steps to take to get started with the 52 week saving challenge:

1. Open a dedicated savings account 

The first thing you should do before you start the 52 week challenge is open up a dedicated savings account for your funds. It’s always important to keep your savings separate from your checking account because this can help prevent you from dipping into it easily.

You could open a free savings account or see if your bank offers a high-yield savings so you can earn interest on your money. 

A Christmas Club savings account is another excellent choice. I love using Christmas Club accounts because you are not allowed to withdraw the funds until it’s automatically transferred on November 1st. 

If you withdraw before that date, then you have to pay a penalty. This can really help prevent the temptation of taking money out of your account before the challenge is up. 

Whichever account you choose, just make sure it’s separate from your other money.

2. Add your savings plan to your budget

Many fail to save because they don’t include it in their budget. A good budget will help you keep track of all of your income and expenses. So, it’s vital that you add a line to your budget for your savings. 

You can budget weekly, bi-weekly, or monthly. If you do a monthly budget, then add up the total amount you need to save that month to allot the correct amount to be saved. 

For example, if it’s during the first month, you will add the first four amounts together, so you know how much to save. In the first month, you will save a total of $10, so you know you need to include that in your monthly budget. 

Each month will be different, so be sure to stay on top of the amounts if you go that route.

3. Transfer cash to your savings every week

It’s key that you transfer money into your savings weekly during the 52 week saving challenge. Get in the habit of logging into your account and making transfers as soon as you are paid. If you are paid bi-weekly, then transfer the amount for two weeks into your account.

Another option is to use automatic transfers or salary deductions. Check with your financial institution or employer to see if you can set up automatic deductions to be transferred into your new savings account.  

However, sometimes they only allow you to set up a specific percentage or amount. If that’s the case, you can divide the total amount of the challenge e.g. $1,378, by 52 weeks, which is $26.50 a week. 

Then you can set up a transfer of $26.50 a week, and you will save the same amount within a year. 

How to stay motivated during the 52 Week Challenge 

No matter how good our intentions are, staying motivated for something long-term is hard. So, how can you stay motivated during the 52 week saving challenge? 

Here are some ideas to keep you focused and motivated to save money for the whole year and beyond!

1. Create a Vision Board

A vision board is a board that has a collage of pictures, quotes, and goals that inspire you personally to achieve your goals. 

So, think about why you want to save money and put up things that remind you of what you are doing it for. For instance, maybe you want to take a relaxing vacation to the Caribbean, renovate your bedroom, or bulk up your emergency fund.

Whatever it is, find pictures, quotes, and write down your money goals, and put them on your vision board to help you stay motivated during the 52 week saving challenge. 

2. Track your savings

Do you know how it feels good to check things off your to-do list? It’s an even better feeling when you get to check off your weekly savings goals during the 52 week challenge!

It’s important that you track your savings every week, so you stay on track with your money goals. So be sure that you are writing down your savings deposits every week.

3. Reward yourself without spending money

Even though the 52 week challenge makes saving money much more fun, you still need to treat yourself for sticking to your goals. In this article by PsychCentral, Gretchen Rubin discusses the importance of treating ourselves to prevent burnout and help with motivation.

The good news is you don’t need to spend money to reward yourself. There are many things you can do to treat yourself for free.

So, after you hit a money savings goal during the challenge, treat yourself to something you enjoy that doesn’t cost anything. 

For instance, you could invite friends over for a game night, head to the park for a day in the sun, or take a day to rest and relax at home.

Some of the best things in life are free, and it’s a fantastic way to boost your mood and keep you motivated to keep saving money.

Benefits of using the 52 Week Challenge 

Money savings challenges take the mundane out of saving. It makes saving money much easier and alot more fun. The great thing about the 52 week saving challenge is your savings plan is already mapped out for you.

So you can get started at any time of the year and literally start saving with just $1 extra a week! 

It also holds you accountable and helps you learn how to include saving money in your budget

Plus, it will boost your confidence once you reach your 52 week milestone and set you up for saving long-term. 

Save money easier with the 52 Week Challenge

The 52 week challenge can help you start saving money easily. It’s fun and simple to follow, plus you will be $1,378 richer when you finish! 

You can get started today with just $1 and work towards saving for a much-needed getaway or finally have some emergency cash stashed away.

If you are having trouble saving due to high-interest debt, we can help! Learn how you can consolidate your expensive debt into an affordable personal loan with Stately Credit. 

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