52 Week Money Saving Challenge!

With this Money Saving Challenge, you can save up to $1000, $5000, and even $10,000 in a year! Don’t believe us? Check out our free printable plans below!

Amid the record-high inflation of 2022 and fears of a possible recession, people are worried about money, to say the least. According to the IMF, currently, the global baseline inflation is at 8.7% – a far cry from 2.5% to 3.0% of the pre-pandemic era. Moreover, experts predict that the inflation rate, even if it falls, is unlikely to return to pre-COVID times. This means people will continue to struggle financially. If there was ever a time to take action and increase your savings, it is now! Try this 52 week money saving challenge to defeat inflation and stay on top of your financial goals this year!

Why Use Savings Challenges to Save Money?

According to a survey by Numerator, 53% of Americans set financial goals as their top New Year’s Resolution in 2023. But we all know how difficult it actually is to save money. Not to mention the rising cost of goods and services leaves us with even less money to put into our savings. Plus, there’s only so much you can save on grocery shopping, food, entertainment, etc. Indeed, unless you follow a proper saving plan and stay disciplined throughout, you cannot save a substantial amount.

That’s where money saving challenges come in. With only $1, this challenge is super easy to start. Not only does it make the process fun, but also gives you a sense of accomplishment upon success. This, in turn, raises your morale and motivates you to take on even bigger money savings challenge! Your savings increase and you have fun, it’s a win-win!

Moreover, a study by the University of Arizona reported the positive effects of saving more money among millennials.

People who save money report better overall well-being, including less psychological distress – Sabrina Helm, study author and associate professor at the University of Arizona

So, here is all you need to know about this fun 52 week money saving challenge that makes savings thousands of dollars super easy and fun!

What is the 52 Week Money Saving Challenge?

The 52 week money saving challenge is a quick and easy way to improve your financial wellness. It allows you to save over $1000 in a year. In this challenge, you add an increasing amount of money to your savings each week. Start with $1. In the next week, save $2, then $3 in the third week, and so on. By the end of week 52, you’ll deposit $52 and your total savings will be $1,378. You could also set aside a fixed amount of $26.5 per week to get the same result. Easy right?

Here’s a quick downloadable chart for you to get started right away! Cross off each week’s savings as you go. It allows you to keep track of your savings easily.

52 Week Money Saving Challenge to Save $1,378
WeekDepositTotal BalanceWeekDepositTotal Balance
Week 1$1$1Week 27$27$378
Week 2$2$3Week 28$28$406
Week 3$3$6Week 29$29$435
Week 4$4$10Week 30$30$465
Week 5$5$15Week 31$31$496
Week 6$6$21Week 32$32$528
Week 7$7$28Week 33$33$561
Week 8$8$36Week 34$34$595
Week 9$9$45Week 35$35$630
Week 10$10$55Week 36$36$666
Week 11$11$66Week 37$37$703
Week 12$12$78Week 38$38$741
Week 13$13$91Week 39$39$780
Week 14$14$105Week 40$40$820
Week 15$15$120Week 41$41$861
Week 16$16$136Week 42$42$903
Week 17$17$153Week 43$43$946
Week 18$18$171Week 44$44$990
Week 19$19$190Week 45$45$1,035
Week 20$20$210Week 46$46$1,081
Week 21$21$231Week 47$47$1,128
Week 22$22$253Week 48$48$1,176
Week 23$23$276Week 49$49$1,225
Week 24$24$300Week 50$50$1,275
Week 25$25$325Week 51$51$1,326
Week 26$26$251Week 52$52$1,378

The Complete Guide to Successful Execution of 52 Week Money Saving Challenge

It seems super easy, but it definitely requires a lot of discipline to put aside money for a year consistently. You might get distracted, simply forget and fall back on your savings goal, or might have other expenses to take care of immediately. Therefore, it is important to keep the following steps in mind before committing to this challenge.

1. Get Started

First of all, you need to understand your budget. How much is your income? How much do you spend on rent, mortgage, loan payments, credit card bills, groceries, other necessities, etc.? After excluding all of this, how much do you have left? Can you save a couple of dollars here and there for this challenge? It is important to use a budget app or budget planner to understand your finances better. Only then can you set a realistic goal for your savings.

2. Set Particular Financial Goals You Wanna Achieve

I cannot stress this enough. The success of your money saving challenge depends on what financial goal you’re trying to achieve. Maybe you want to save up for a house, education, marriage, vacations, or simply a big purchase like a car, etc. Keeping this goal in sight will help you stay motivated and stick to the savings challenge even if it gets difficult.

3. Adjust the Plan According to your Income Level

Different people have different levels of income. You can adjust this challenge to increase or decrease your savings according to your income level. For example, the penny challenge is the same process but instead of dollars, you save pennies. At the end of week 52, you’ll have approximately $668 in your savings.

Similarly, you can increase the amount to save more, if you have a high income. Here are some ways you can save $3000, $5000, $10,000, and even $20,000 in 52 weeks.

52 Week Money Challenge to:

– Save $3,000

In this challenge, you save up to $20 in the first week. Increase the savings of each subsequent week by $20 to save $3,060 at the end of the year. That’s $58.8 or $59 per week.

Here’s a Free Printable Chart for this challenge.

Complete 52 Week Money Challenge to Save $3,000
WeekDepositTotal BalanceWeekDepositTotal Balance
Week 1$20$20Week 27$40$1,560
Week 2$40$60Week 28$60$1,620
Week 3$60$120Week 29$80$1,700
Week 4$80$200Week 30$100$1,800
Week 5$100$300Week 31$20$1,820
Week 6$20$320Week 32$40$1,860
Week 7$40$360Week 33$60$1,920
Week 8$60$420Week 34$80$2,000
Week 9$80$500Week 35$100$2,100
Week 10$100$600Week 36$20$2,120
Week 11$20$620Week 37$40$2,160
Week 12$40$660Week 38$60$2,220
Week 13$60$720Week 39$80$2,300
Week 14$80$800Week 40$100$2,400
Week 15$100$900Week 41$20$2,420
Week 16 $20$920Week 42$40$2,460
Week 17$40$960Week 43$60$2,520
Week 18$60$1,020Week 44$80$2,600
Week 19$80$1,100Week 45$100$2,700
Week 20$100$1,200Week 46$20$2,720
Week 21$20$1,220Week 47$40$2,760
Week 22$40$1,260Week 48$60$2,820
Week 23$60$1,320Week 49$80$2,900
Week 24$80$1,400Week 50$100$3,000
Week 25$100$1,500Week 51$20$3,020
Week 26$20$1,520Week 52$40$3060

– Save $5,000

Likewise, in order to save $5,000 in a year, you can follow the given chart with variable increases each week. However, if you can afford to, you can simply save $100 every week to cross the $5,000 milestone.

Complete 52 Week Money Challenge to Save $5,000
WeekDepositTotal BalanceWeekDepositTotal Balance
Week 1$25$25Week 27$125$2,480
Week 2$45$70Week 28$130$2,610
Week 3$65$135Week 29$145$2,755
Week 4$75$210Week 30$155$2,910
Week 5$95$305Week 31$25$2,935
Week 6$110$415Week 32$45$2,980
Week 7$125$540Week 33$65$3,045
Week 8$130$670Week 34$75$3,120
Week 9$145$815Week 35$95$3,215
Week 10$155$970Week 36$110$3,325
Week 11$25$995Week 37$125$3,450
Week 12$45$1,040Week 38$130$3,580
Week 13$65$1,105Week 39$145$3,725
Week 14$75$1,180Week 40$155$3,880
Week 15$95$1,275Week 41$25$3,905
Week 16$110$1,385Week 42$45$3,950
Week 17$125$1,510Week 43$65$4,015
Week 18$130$1,640Week 44$75$4,090
Week 19$145$1,785Week 45$95$4,185
Week 20$155$1,940Week 46$110$4,295
Week 21$25$1,965Week 47$125$4,420
Week 22$45$2,010Week 48$130$4,550
Week 23$65$2,075Week 49$145$4,695
Week 24$75$2,150Week 50$155$4,850
Week 25$95$2,245Week 51$100$4,950
Week 26$110$2,355Week 52$50$5,000

– Save $10,000

10 grand is a huge sum of money that people dream of saving. The 52 week challenge makes it realistically possible by breaking it down into smaller chunks. Start with $125 and add $25 to the previous sum until you reach $300. Check the given printable chart for a better understanding. Contrastingly, you can also save a fixed $192/week for a year to reach the 10,000 goal.

Complete 52 Week Money Challenge to Save $10,000
WeekDepositTotal BalanceWeekDepositTotal Balance
Week 1$125$125Week 27$175$4,950
Week 2$150$275Week 28$300$5,250
Week 3$175$450Week 29$125$5,375
Week 4$300$750Week 30$150$5,525
Week 5$125$875Week 31$175$5,700
Week 6$150$1,025Week 32$300$6000
Week 7$175$1,200Week 33$125$6,125
Week 8$300$1,500Week 34$150$6,275
Week 9$125$1,625Week 35$175$6,450
Week 10$150$1,775Week 36$300$6,750
Week 11$175$1,950Week 37$125$6,875
Week 12$300$2,250Week 38$150$7,025
Week 13$125$2,375Week 39$175$7,200
Week 14$150$2,525Week 40$300$7,500
Week 15$175$2,700Week 41$125$7,625
Week 16 $300$3,00Week 42$150$7,775
Week 17$125$3,125Week 43$175$7,950
Week 18$150$3,275Week 44$300$8,250
Week 19$175$3,450Week 45$125$8,375
Week 20$300$3,750Week 46$150$8,525
Week 21$125$3,875Week 47$175$8,700
Week 22$150$4,025Week 48$300$9,000
Week 23$175$4,200Week 49$200$9,200
Week 24$300$4,500Week 50$225$9,425
Week 25$125$4,625Week 51$250$9,675
Week 26$150$4,775Week 52$225$10,000

Key Mistakes to Avoid

Here are some common mistakes people make while taking this challenge that you should avoid.

  • Forgetting to Save each week – A dollar or two doesn’t sound like that much money. That’s why some people take it for granted and think they can simply make up for a missing week next time. However, this breaks the momentum and these missed deposits can add up to a lot later.
  • Setting unrealistic savings goals – Set realistic savings goals after analyzing your finances. Choose an amount that you can comfortably save. For example, if you want to save money as a college student, it might be better for you to choose the penny challenge instead of the No spend challenge or $3000 challenge, since you have a low-income and high-spending lifestyle.
  • Keeping your Savings in cash at hand – Do not put your savings in a piggy bank or keep it as cash. You’re much more likely to dip into your savings if it’s conveniently at hand.
  • Splurging on Holidays and destroying your momentum! – Expenses increase around the holiday season. Plus, the festivities make you spend guilt-free and in good spirits. However, this is the crunch time and the last few weeks till you reach your savings goal, so spend wisely.

Crucial Tips to Stay on Track and Successfully Complete the 52 Week Money Saving Challenge

Furthermore, here are some helpful tips you can use to avoid all the above mentioned mistakes and complete this challenge.

  • Use Printable and Set Reminders – using printable charts and putting them in a visible space allows you to always remember which week it is and how much money you need to save. Additionally, crossing off each week will give you a serotonin boost and a sense of accomplishment. You can also set reminders on your phones in case you forget.
  • Put your money in a High-yield Savings Account – Saving money in a savings account prevents you from impulsive spending. Moreover, with a high-yield savings account, you can earn interest on your savings, increasing your total amount even more!
  • Automate your deposits – If you want to save effortlessly, try automating your deposits from your checking account to your savings account. Use the fixed amount guidelines given under each chart to know how much you need to save.
  • Find an Accountability Partner – Get a friend, partner, or spouse to do this challenge with you in order to motivate and keep each other accountable.
  • Stay motivated and inspired! – Read some books on making and saving money to keep yourself inspired on this journey. Don’t have time? Check out these quick, encouraging quotes about saving money.
  • Try the Alternative Version to Avoid Holidays Splurging! – If saving $52 in the holiday season sounds unreasonable, you can try the alternative version of the 52 week money challenge. In this version, you have to go backward and flip the amount of money you’re supposed to save each week. For example, instead of saving $1 in the first week, save $52. Go through the entire chart by decreasing one dollar instead of increasing it. This way, at the end of the year, you’ll have to save only $1.

The Bottom Line

Saving money was never this easy or exciting! Who knew you could save thousands of dollars by simply saving a couple of bucks every week? If you want to quickly and effortlessly increase your savings, then trying the 52 week money saving challenge is a must!

Tried it? Do share your success story or challenging experience with us in the comments below!

About the Author: Aatika Qasim

She is a dedicated female entrepreneur and digital enthusiast who's committed to making her name in the world of Women Entrepreneurship. She's devoted to help people improve their personal finances by saving money on health, fitness, travel, and wellness as well as find practical and efficient ways to make money online.
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