Monday Money Tips: 52 or 26 Week Money Saving Challenge

I'm back for another Monday Money Tips. Last week we talked about saving money using spare change, this week we are going to talk about saving money by saving a small amount from your paychecks weekly or bi-weekly. 

I think everyone has heard of the  52 week Money Saving Challenge. It is a simple plan to save $1,378 a year. It starts with saving $1 the first week, $2 the next week and so on! While these amounts seem to be small, at the end of the 52 weeks you will have close to $1400! 

To grow your fund faster you can chose to do the money challenge in reverse! Many have use the 52 week challenge in the past and have succeed. What is the benefits to this challenge your ask?

• It is a way of saving money without taking a large some and depositing it into your saving account. By using a smaller amount you will not miss the money as much and you will have $1,378 before you know it.
• The money you save can be used as an emergency fund. Sometime life throw you a curve ball and you must come up with money quick. This will help you when the times comes.
• Great for Black Friday and Christmas! Many people who save this money use it just for that!

A lot of people you the 52 week challenge chart! I will put a copy below so you can easily save if for reference later.

Most people get paid bi-weekly so here is a chart that will help easily save using a bi-weekly paycheck.

This will be my first time trying the challenge, I will let you guys know how it goes in the end! I will be doing the 26 week Challenge as I get paid bi-weekly.

Have you tried the 52 week or 26 week Money Challenge? If so have you succeeded in completing it? If, not will you try it in the future? Leave a comment below!

Talk to y'all later

Keoshia

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