52 Weeks Saving Challenge
Aaaaaaaaah I can’t imagine how long it took me to write again here!! I knew already that blogging was much harder than I thought but never felt that lack of time would be so hard to deal with. Since New Years each time I was thinking about this place I’ve created… I was dying inside. I’ve been incredibly busy with work so I couldn’t just find the proper time to come here. I know a blog needs consistency to be alive, so one my next goal will be this space to be part of my weekly routine!
This will be the first post of the year and it will be about Finances! Yes! My goal since New Years was to start the 52 weeks saving challenge! Maybe you already have heard about it. This challenge is about saving money, consists in each week to add 1 euro more to your saving account or pot. Week one – 1 euro; Week two – 2 euros, Week three – 3 euros and so on. If you are able to follow the challenge you will be able to save 1,378 euros in one year!
Why to do the challenge and how?
For me it’s impossible to talk about goals and think they would somehow happen like magic, without any plan. It’s just not reallistic. If you have a goal you need a strategy. Money is just one of the ways to achieve your aims.
This challenge can be applied to all types of income, it’s independent how much money you earn. If you’re a person who is aware that saving money is about self-discipline and the possibility for your dreams to come true, this challenge is for you!
First is important to be clear about the reason why you want to do this challenge. If it’s not clear just forget it because it’ll be hard to keep up. So choose a motivation!
Examples of good reasons for this challenge:
- to save to do the trip of your dreams
- to be able to pay your studies fees
- for your new car
- just saving for your future pension or for emergencies
I’ve been reading about this challenge and it’s interesting the options people find according to their possibilities. If you don’t find a way to stick with 1 euro each week (because at the end of the year each week will be from 120 euros up each month), you can choose to save every 50 cents. At the end of the year you would have 689 euros!
The nice thing about the challange is to adapt it to your own lifestyle. I also read that some people started with the challenge and at the middle of the year they re-started again.
What I like about this way of saving is the fact that you add in the beginning very small ammount of money. Personally I add the money every week. Some people prefer to add the whole amount of money of the month once. I decided to add each week since I receive my income splited.
Another way is to divide the 1,378 for 12 that will be 114,83 euros each month and stick to that value. Now looking back I would try to do that, it’s easier to stick on saving the same amount every month if you have an earning stability.
See, you have multiple possibilities.
One thing you’ll gain for sure is focus and self-demand. For sure you’ll need to make choices if you wanna stick to your goals. Maybe that guilty pleasure you take might not be compatible with the goals you decided.
Let me know how saving works for you, if you have tips and suggestions. I would be glad to hear from you about this topic! :)
