Three Simple Ways to Hack The 52 Week Money Challenge

simple ways to hack the 52 week money challenge

The 52 week money challenge is a simple and powerful way to not only start building up a nice little nest egg but, more importantly, transform your financial habits. With this simple challenge, you start becoming a person who spends with purpose instead of just buying this and that without much thought. But, what looks like a simple challenge is actually still challenging for anyone who is not used to being so aware of their money.

Simply put, the 52 week money challenge is a way to challenge your self to save money.  It works using a snowball approach. You start on week one by saving $1, then on the second week, you save $2. On the third week, you get $3.  By the end of the year you should have a total savings of $1,378.  Here is a nice visual.

52 week money challenge
So here are 3 hacks to make sure you stay on track for the full 52 weeks.

#1 Start Right Now
Take that literally. Take a break from this article, go log in to your bank account and transfer $1 from your checking account to your saving account.

Done? Good. You have now successfully completed the first week of your challenge! That wasn’t so bad was it?

On week 2, you’ll deposit $2 into your account. And you’ll keep up this pattern, adding $1 to the total each week (so in week 52, you will deposit $52). The great thing about this is that it literally doesn’t matter which week you start in or what day of that week you start. It could be 2am on Friday night in the middle of August. That’s fine. Start now. By this day next year, you’ll have saved more than $1,000!

#2 Decide How to Spend It
While working toward your goal, one of the best ways to stay motivated is to dream about and envision that goal. In 52 weeks, you are going to have $1,378 that you wouldn’t have had if you didn’t do this.

What do you want to do with that? You can take a trip somewhere, go on a shopping spree, pay off some debt, keep it as an emergency fund, or anything else that comes to mind. You don’t have to pick just one thing, either. You could choose, for example, to go on a shopping spree with half the money and hold on to the rest to continue building your savings. The important thing is that you visualize what you are going to do so that you can enjoy the rewarding feeling of moving one step closer to that vision each week.

#3 Plan Ahead
One of the simple ways to hack the 52 week money challenge that you can apply in a couple different ways. First of all, plan ahead by scheduling a weekly appointment to make the transfer. Do it at the same time each week to really ensure that it becomes a habit.

The other way that you can plan ahead is by deciding in advance where the savings will come from. For example, in the first week, where will that dollar come from? This will be easy. You can just skip buying a pack of gum or buy a generic brand food that is $1 less than your name brand. Each week, take a look at your normal spending habits and find something you can cut or change in order to reach your weekly goal. By week 52, you’ll need to find a way to cut $52 from your budget for the week. So each week, you will have to work a little bit harder to get the money. But this helps you to gradually build up the willpower to avoid splurges and wasteful spending!

Final Word
By the end of this challenge, you will have saved $1,378! And you did it all with just a few dollars at a time. By using these simple ways to hack the 52 week money challenge, you are not only accomplishing the 52 week challenge flawlessly but ensuring that these 52 weeks turn you into a more conscious and smart spender! Finally, if you’re interested in more on the 52 week savings challenge, consider checking out Saving Advice’s article on the subject.

Kostas Chiotis blogs about the most important issues relating to economics. You can read his articles at and follow him for more updates and information on Facebook and Twitter.

Image URL:  Pixabay

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  1. Simple as 1-2-3! 🙂 And if people can continue the momentum beyond the 52nd week, they’ll be setting themselves up for some fantastic future savings balances!

  2. Catherine says

    Brad, ah ha ha, yes. Its very simple, but a lot of people start the challenge and never end up finishing it. On way around that is to get some help/support to do it.

    If anyone is interested, you can also check out the saving advice forums. They have a whole subforum devoted to the challenge –

  3. Along with Catherine’s comment…a full year may end up with a burnout / lack of motivation….I always do it backwards. It’s easier for me to come up with $52 today while i’m all excited about it and then easier in 52 weeks for me to scrounge up $1 when my enthusiasm is wavering.

  4. Money challenges are so much fun! Although I often find myself to be the only one to think that.. hmm..

    As far as money challenges go, this one sounds easy enough. Starting so small is not even noticeable, and in December you actually end up saving only about $200, so it’s really no biggie if you get used to saving throughout the year.

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