I discovered the 52 Week Money Challenge halfway through last year and decided to wait until 2014 to start doing it. I think it’s a great challenge and you save a considerable amount of money in one year. There are some people that do variations or like to do this challenge in reverse.
I want to save as much as I can each week. For example, this first week of 2014, I’ve saved up $45 to use towards this challenge. There will be some weeks where I’ll save less or more, depending on my bills, wedding planning and such.
I even created another e-account with my bank to start depositing everything I’m saving on that account and act as if that money doesn’t exist. That will definitely help me have some money saved up on the side. I don’t plan on using this money unless absolutely necessary (emergency).
This challenge has really motivated me to save more money, although I’m not a person that spends much, my income is limited. That’s another challenge I’m taking on this year, launching my web development/design business and find more ways to get a more stable income.
If you’re planning on saving some money this year, I definitely suggest you take on the 52 Week Money challenge. $1, 378 in one year (or more, if you decide to save more each week) is great.