52 Week Money Challenge

[jiuchan]

I'm not sure when this started, but I'm taking this Challenge. Anyone wanna give it a try?

[yikes77]

I just save 10% of my pay into a savings account myself but hope you manage to stick to it!

[PGS28]

I heard about this on YouTube last year, I haven't participated but I think it's a great way to learn how to save.

I'm not sure when this started, but I'm taking this Challenge. Anyone wanna give it a try?

[PGS28]

I've also become accustomed to depositing a certain amount of savings from each stream of income so I know what you mean.

I just save 10% of my pay into a savings account myself but hope you manage to stick to it!

[Tresbn00]

What a great concept!  I save every passive dollar that I make but to actually make a checklist and follow it makes it like fun...adds drive to the money saving game! This shows the true savings aspect of it but fails to show the interest that accumulates on top of wherever you put the money...provided that you put it into some sort of savings/investment instrument. I like to make investments outside of the straight wage pay that goes to my family and I am good at making a couple of bucks a day at sites like this. I have two kids both sitting with stagnant accounts so maybe I will aim to make money above and beyond what I am making now to put in their accounts. Yeah...count me in for the challenge! Thanks for the motivation!

[o2bnocn]

Sounds like a great way to save money!

[lray3152]

That's pretty interesting, great way to save!

[ricdsm]

This is a really cool idea.

[nyvettebeltran]

yes I am very interested in this.
But I thought about doing it backwards so that way in the end ill feel like ive saved a lot by putting less because you put in one dollar

[jorhea]

It would be easier to do it backwards. Because otherwise during the toughest months of the year (holidays!) it would be harder to put in what you are suppose to. I also thought about just dividing the total amount you are suppose to have saved by the end of the year by 26 (I get paid bi-weekly) and putting the same amount away every payday.

[jiuchan]

Not a bad idea, I should try that once I get a better paying job. LOL! I get paid monthly so I can only put the total amount per month.

Especially if I can't come up with the amount for the week.

[crisstar]

I've heard of this concept before. This is a good way to save for emergency to keep around your house.

[sherryinutah]

I like the idea of putting 10% of my income in a savings account each month.  I love knowing that I have money saved for something I might need in the future.  I'm able to see all my finances as I record everything on a free website called clearcheckbook.com. 

  

[Forp]

I liked jorhea's idea better do it backwards...the reward is less and less money needed. Still I'd be sooooo tempted to spend it 

[PGS28]

That's an excellent idea!!

It would be easier to do it backwards. Because otherwise during the toughest months of the year (holidays!) it would be harder to put in what you are suppose to. I also thought about just dividing the total amount you are suppose to have saved by the end of the year by 26 (I get paid bi-weekly) and putting the same amount away every payday.