There are a ton of money challenges, but some of our favorites are the 52 week money challenge. We love it because it’s a year-long incremental money challenge where you can save more than $1,000.
Did we mention we created a 52 week money challenge printable?
We created 3 of them for easy, medium, and hard levels. Maybe you’ve never saved money before or are living paycheck to paycheck — if so, try the easy version.
If you’re up for a challenge, check out the medium level one where you save close to $3,000.
If you’re ready to beast your financial goals, check out our final printable on hard.
52 Week Money Challenge On Easy Mode
We created easy mode to help you save money so incrementally, you don’t even notice the difference.
We decided that you should save an extra 10 percent each week, starting with $1 the first week.
Doesn’t sound like very much at the end of the year right? You’d be surprised, as it’s $1,410!
We hope you this encourages you to start investing and saving money for your financial future.
52 Week Money Challenge On Medium Mode
Think that’s too easy? Try this next one then.
For the medium difficulty one, you need to save $2 the first week and $2 extra dollars each week thereafter.
At the end of the year, that’s $2,756. All from just $2 the first week! Crazy how the small numbers add up, right?
52 Week Money Challenge On Hard Mode
The last level is on hard.
Save $5 the first week and add $5 each week thereafter.
Reverse 52 Week Money Challenge
Think you can tackle the end of the 52 week money challenges first?
A lot of people notice that the end of the 52 week money challenges require you to save $100+ each week, which might be pretty difficult for you over the holidays.
So if you want to start the year off strong, consider doing the 52 week money challenge backwards.
It’ll get so much easier as the weeks go by.
Automated 52 Week Money Challenge
If you don’t want a printable, check out a money app that allows you to save according to the rules of the 52 week money challenge.
Qapital uses IFTTT, which is a website that uses open source free applets to help you automate activities. If you’ve never used IFTTT, I’d recommend checking it out for other things as well as it can really speed up your productivity.
Tips To Save Even More
Save Your Two Extra Paychecks
If you’re being paid bi-weekly, you’re going to get paid 26 times a year. Most people budget based on 2 paychecks a month because most of the time, you get two paychecks for the month.
The median American household makes around $60,000, so two paychecks would be $3,615 before tax. You could blow these money savings challenges out of the water with just those two paychecks!
Start Budgeting And Make A Plan
If you’re not using a budget, get started so you can save more money.
If you know where you’re spending your money, you can better eliminate any unnecessary spending. Check out Personal Capital to track your spending for free.
Refinance Your Student Loans And Mortgage
Refinancing simply means getting a lower interest rate on your student loans and mortgage, which can save you hundreds or even thousands of dollars in interest.
The good refinancers don’t do hard credit pulls, which can affect your credit score. Check out LendKey for refinancing on your student loans.
Get Free Internet And Cheaper Utilities
The average American spends $50 a month on internet, so imagine if you could get free internet each month.
Lower your electricity bills by switching to lower-watt LEDs, turn off your phantom appliances, etc.
Cut your cable and try out Netflix, Hulu, or other streaming services.
Lastly, renegotiate your cable bill, or switch to a low-cost provider.
Save Money On Insurance (Car, Life, Renters, Etc)
If you’re like most people, you don’t recheck your car insurance rates each year. See if you can get a lower rate
If you’re a lot of Americans who drive under 10,000 miles, you can get access to pay-per mile insurance, saving people an average of $600 a year. Check out Metromile, which allows you to save a ton by paying only for the miles you drive, instead of subsidizing the drivers who drive a ton.
Olivia worked in finance and wants you to learn the secrets of financial independence. She believes there are so many ways to monetize your life and make money doing the things you're already doing because so many companies offer free money.
The average savings account rate is 0.1%. The big banks have incredibly low savings accounts rates. CIT Bank offers a 1.75% savings account. You can open an account with just $100 and no monthly fees or charge . Tired of being charged fees and getting peanuts in interest at your current bank? Open a CIT Bank savings account in less than 15 minutes online.
If you have a car, Rideshare apps allow you to pick a direction you want to go twice a day, so you can get extra money going somewhere you were driving to anyway at least twice a day. Get a $300 sign-up bonus with Lyft.
One of my favorite ways ways of monetizing my life is via credit card bonuses with cards that give you cashback or rewards. Check out our review of the Chase Sapphire cards, which give you at least $500 in cash or $625 in travel credit.