52 Week Money Challenge & 365 day Penny Challenge

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Hard time-saving money throughout the year? Try this simple 52-week challenge and by Christmas, you’ll have $1,378 in your account!

52-week-money-challenge-365-day-penny-challenge
For many families, by the end of the year, money is very tight, particularly around the holidays, so instead of starting the savings out small and ending big, we choose to start out a bit bigger and end small!

Grab a box of envelopes and number them 1 thru 52.

Start out with $52. the first week and each week drop it down $1., by the time Christmas Rolls around you’ll have $1,378.00

Download the Free Money Saving Chart here

Alternatively, if you’re like Many families who literally don’t have an extra $52 to start out with, Save just $4.00 per day and put it in your envelope.

That’s the cost of 1 Starbucks coffee.

Set it and Forget 52 Week Challenge

If you want to participate in the Challenge, but you DONT want to handle Cash all year long, you can set your bank to do an automatic transfer of $26.50 into your savings account every single week through your online banking. You don’t have to remember to put any money in the envelope or to transfer it if you set it for automatic transfer and you’ll save the exact same amount of money!

If you put $4.00 in an Envelope every day for 1 year, you’ll have a whopping $1,460. in your envelope by next New Years Eve!

365 Day Penny Challenge

What if you just don’t have an extra $52 bucks to start with (or end with) each week? What if you’re literally living week to week and you don’t really have much at all?

Then Try the 365 Day Piggy Bank Penny Challenge, here’s how it works-

on Day 1: Save $0.01
Day 2 Save $0.02
Day 3: Save $.03 . . . . . . (continue every day adding 1 more penny to the amount)
on day 100 you’d save $1.00
on day 101: you’d add $1.01
on day 360 you’d add $3.60
on day 361 you’d add $3.61
365 you’d add $3.65 to the piggy bank.

Literally every single day, you just increase the amount saved by one more penny.

By the end of the year, you’ll have saved $667.95 just by saving an additional penny per day!

52-week-money-challenge-365-day-penny-challenge

Set it & Forget it (& an Option for Canadians!!)

If you want to participate in the Challenge, but you DON’T want to handle Cash all year long, you can set your bank to do an automatic transfer of $12.85 into your savings account every single week through your online banking. You don’t have to remember to put which day you’re on or how much money to put in the jar or to transfer it if you set it for automatic transfer and you’ll save the exact same amount of money!

This is perfect for our Canadian friends who no longer have pennies available to save!

Have you taken a Money Saving Challenge Before? How did you fare?

THIS POST MAY CONTAIN AFFILIATE LINKS. SEE OUR DISCLOSURE FOR MORE INFO.

About Liss 3981 Articles
Melissa Burnell, known to her friends and fans as "Liss," grew up in Southern Maine, now residing in sunny South Carolina. As a busy Wife, Mother of two sons, an avid photographer, and self-employed entrepreneur, Liss understands the value of both time and money.

4 Comments

  1. For those that are really strapped for cash a dollar a day would yield $366 at the end of the year since this is a leap year. Or, start out at $1 a day for January, February, and March. Then increase to $2 for the next three months.

    Move on to $3 during the summer and finally $4 for the last three months of the year. The yield for that would be — $917!

    • For those that are really strapped for cash a dollar a day would yield $366 at the end of the year since this is a leap year. Or, start out at $1 a day for January, February, and March. Then increase to $2 for the next three months.

      Move on to $3 during the summer and finally $4 for the last three months of the year. The yield for that would be — $917!

      That is a brilliant idea!!! However, I would reverse the amount order.

  2. I tried to do these. However, I had an unexpected surgery that put me out of work for a few weeks. I do not have medical benefits through my job nor do I have paid leave.

    Therefore, bye bye savings. Thats okay. I am just happy i had some money socked away.

    Next year will be here soon enough! I am still saving money even now, but just not following either of these challenges until 1/1/18.

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