When it comes to saving money, what is the challenge for those of you, who don’t know what it is?It’s basically a saving challenge, where you see the specific dollar amount that is equivalent to a week’s number.So, the challenge goes over 52 weeks which is one year, and on week one.
You save a dollar with two. You save two dollars until you get to week 16, where you’re saving fifty-two dollars at the end of it.You have about thirteen hundred dollars plus in your savings account which is a nice chunk of change.You can put this money towards a financial goal.
I like saving adding to your longer-term savings on paying off debt towards a splurge or a trip or basically anything that you want to do but like I meant it.It’s a really great way to build the habits and consistency,especially if you struggle with saving money.
Tip no 1
So, some tips to be successful with this challenge include opening a separate savings account basically or not blending funds from different.You know for different savings goals you can have just this one account that’s designated try to automate your transfers into the account.So, that you don’t miss a week, or you don’t forget to save.
Tip no 2
If you can’t automate, then instead of a reminder on your calendar.So, every single week you get an alert that reminds you that you need to make a deposit into your account.You also want to avoid taking money out of this account, I know it can be hard sometimes but a good way to do this is by putting this thing’s account in a separate of app, separate bathtub, separate from your checking account, and don’t get any checks, don’t get any debit card that way.
Tip no 3
You can look back at the one you’re saving and see the full amount there and actually.It actually be proud of the progress that you need, and so I love the specific saving challenge it’s something that I do all the time and I’ll use my money that I saved in this challenge to worth the splurge or a trip that I want to take.
So, I hope these tips up is helpful if you are doing a 52-exceeding challenge, and it’s something that you are considering.It is something that you have never heard about before, I highly recommend it if it’s something that you’ve done in the past and consider doing it again because you know it’s a great way to put some money aside and I can mention.
It definitely helps with building the habits and the consistency, when it comes to saving and it’s a nice chunk of money that you put aside something that other people do.Is, they double the amount that they save every week, so in saving a dollar and week one they save two dollars and on week two they save four dollars and then a week really save eight dollars that way at the end of the aside.