Wednesday, June 26, 2013

52 Week Money Challenge - Are you Game???

A while back I ran across a post someone shared on Facebook about a 52 Week Money Challenge.  I looked at it briefly and took note that this was something that I wanted to try.  Of course I forgot all about it and went on with my daily routine.  Thanks to Pinterest I ran across it again and this time I made sure to print out the 52 Week Money Challenge Chart, so I could track the amount to save each week.

 
So how does it work exactly???  Well for 52 weeks you save the same amount of money for which week you are on.  For instance week one you save $1, week two you save $2, and so on.  By the end of your 52 weeks you will have saved $1,378.00.  It may not seem like a whole lot, but it is when you are not taking that much each week from your paycheck and just putting it in a jar and allowing it to add up.  Since our household has two incomes we are both doing the challenge, so in 52 weeks we will have saved $2,756.00 or more because when my husband throws his loose change on the dresser- I add that in there as well....every little bit counts ;)
 
 
All you need to start is a jar and one dollar....Are you game for the 52 Week Money Challenge?  What will you use your money for? I'm sure we will find some DIY project to sink our savings into!
 
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256 comments:

  1. I read about this and wanted to try it. Like you, life got in the way and I forgot about it. Thanks for the reminder:)

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    1. Anytime! I'm glad that you found us!

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    2. Interest rate?

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    3. i will try this for sure..I will start this week...perfect for next year's Christmas....thank you so much..What a brilliant idea

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    4. I see a Vacation to Hawaii after all!! :)

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    5. I think I will back up and have my start date November 1 - catch up and then have my Christmas money next year in November and next year start a little early - the first of October - hope I can remember to keep up with this!

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    6. I did this last year but only for 6 months. We did it so we had the money to go see my family in NY. It isn't as bad as I thought considering we live, literally, pay check to pay check. I will be doing this again next year, but for Christmas this time :)

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    7. easy enough when you have a weekly paycheck, a little more difficult when you only get a check once a month

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    8. Or you could start an account with capitalone360 and have $114.83 transferred to it each month to reach $1,378 on the year.

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    9. this could pay our property taxes!

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    10. How about you have a bottle labeled 10%. Whenever you get your check deduct 10 percent and put it in a jar. After one year you should be able to save alot more. Plus who is going to miss 10% from 1 paycheck.

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    11. there's this thing that i do... it's called taking out $100 from each paycheck ($50/week, paychecks every 2 weeks) at putting it in my savings.. i have my check direct deposited into my checking account, and on fridays, it automatically sends $50 to the savings. in a single year, that's $2600, maybe more if i find that my checking account becomes too bloated.

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    12. Did anyone else notice the mistake adding #48and then add #49 doesn't add up to 1,125.00 dollars it should be 1,225.00

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    13. Thanks for that. Being a non math person, I thought that I must be wrong somehow, so added it all on the calculator!!!!

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    14. yes there is a mistake on week # 49 it should be $ 1,225.00

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    15. The correction to week 49 has been noted. Thanks for the heads up!

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    16. If you read on the bottom of the paper its on it even tells you of the mistake for week # 49..

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    17. I just let uncle Sam use my money until the end of the year and then I take it back.

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    18. looks cool and easy, but you have to save 250 bucks the last month...Not always possible....

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    19. The last month you only have to put aside 52 bucks not 250 bucks. You only put aside the money of what week it is..

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    20. Anonymous 7:55 pm - there are 4 weeks in a month, generally. $52 is only 1 of those weeks. \What about the other 3 weeks? That is what I think Anonymous 6 am was saying. 52 + 51 + 50 + 49 = $202 for the month of December.

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    21. Fibonacci... ... ... ...!

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    22. You would ONLY pay $52 on the 52nd week because AFTER the 52nd week it would start over, if you choose to start over! Am I right?

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    23. We are going to do this. But ad a little more fun to it and Stick it into a Christmas Club account. So not only are you adding money each week you are also earning interest to this and will give you more money at the end of the year for Christmas.

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    24. I think I will try this with a little twist. I'll follow the chart for 10 weeks and then I will start over and do that every 10 wks. It won't be painful at all. I won't end up with as much, but it will be painless and I'll still have a little put aside for Christmas.

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    25. I saw this last year, I would put between $5.00- $25.00 a week and at the end I had $900.00 to go to Vegas this past week.. I only took $400.00 to gamble with and I won enough to pay for the whole vacation.. So I will continue this year with the $900.00 and go from there.

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    26. is there any way to print this label?

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    27. A great way to save for a trip to England to see my daughter and family who are stationed over there for at least 4 years!

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    28. Right click on the image, then click on print image or save image to one of your folders.

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    29. Dear Anonymous, We pay all bills with our Alaskan Air VISA. We were able to fly from PDX to Frankfort Germany to visit our daughter who's husband was stationed there by using air miles. It cost us $159. each for gov. taxes and fees. We pay it off every month.

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    30. Throwing your cash in a jar or into a low interest savings account is pointless. Invest in something!

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    31. ur saving 200 in the last month why not just do that every month, that would be more of a challenge and more rewarding in the end. $2400 x 2 incomes = 4400

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    32. Actually that equals $4800 :) $400 in savings each month is a ton of money to live without if you are poverty level.

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    33. I am going to try this starting the first of the year

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    34. I think it would be more comforting and seem to grow faster if you did it backwards... just start out with $52 then $51, etc.

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  2. I could not get this to post to facebook, but I will definitely start. I had already started putting all of my $5.00 bills away.

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    1. We do the $5 bill saving too. Easy way to save.

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  3. Do it in reverse so it gets easier each week. Too easy to make excuses at the end when the amount climbs.

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    1. Yeah, I think that would be the easiest way for my family.. great idea :)

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    2. Count me in, thanks for sharing..

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    3. I love the idea of doing it in reverse!

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    4. I'm going to talk my husband into to doing this after the first of the year!!! In reverse!!

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    5. that's exactly what I want to do
      Reverse :) of course after ties

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    6. Just think if you kept at the $52/week for the whole year. That's over $2700 with just one person doing it. $5400 if a couple does it.

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    7. Think if you saved $5,000,000 each week. That's $260,000,000 in one year. Oh snap!

      Did I help good?

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    8. I agree with the reverse!

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    9. I am on week 48 for this year and plan to continue with week 53-104... year 2 will be $3875.00

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    10. I love the reverse idea as well.

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    11. Not as creative, but better habit forming is to put away $25 each week. You'll have $1300 by the end of the year, no end-of-year burden, and a nice Christmas bonus.

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    12. Too bad I can't do the challenge. I don't make enough money to save even $10.00 a week, Shoot, I can't even save $1.00 a week. I'm on very limited SS income and my money's gone before I can save $1.00 a month, much less a week.

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    13. I think the real trick here is to save the money BEFORE you ever see the check. Because once the full amount is in the checking account, you're sure to have all sorts of truly legitimate things to spend it on. But if it's not there to begin with, you don't seem to miss it. I'm on a fixed income, too...I know whereof I speak! Even I could trim the budget somewhere (carpool with a neighbor to do the grocery store run, check with your power company to see if they have a limited income rate...mine does so my bill is crazy low!..., read your newspaper online instead of subscribing or picking it up at the news stand, clip coupons more diligently, skip just one guilty pleasure of a donut or a coffee while out running errands??? and "find" a couple dollars a week. So our end-of-year totals aren't as large as someone able to save more out of their weekly paycheck but, at the end of the year, it's still a sum of money we otherwise wouldn't have in one (small) pile. And I'm all for that!

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    14. I started this at the beginning of this year, it works great.

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    15. We are doing it in reverse too, for as long as we need, using the money when saved after two years for our sons birthday trip to Disney then eventually will start over and use it for our wedding, its our goals so we don't blow the money. It helps to have something to save for.

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    16. Great idea. However, I do, try and put aside 50.00 from each pay, has a CSB that I use at the end of the year. But I will be trying this.

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    17. I like your idea of doing it in reverse. The pain lessens each week.

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    18. Yes, I do this in reverse too! Much easier to put away more at the beginning when you are motivated. Plus I save all dollar bills and loose change. All adds up :)

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  4. This would be a good one to start now for Christmas money next year!

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    1. thats what i was thinking of

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    2. Two of my friends and myself, started collecting $50 a week, as I love to spend, my friend who is a great saver said that she would collect it fr us we started this in September 2013, and guess what we will be dividing this in a couple of weeks we will have about $800, each I found this quite a good as it will be hard cos there are always times when something unexpected stumbles on but if it is not with you you cant go and ask for it .
      happy shopping:) We hope to start it again early next year and get it out for Christmas.

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  5. wooow I am so excited to try this thank u ever so much for the idea and being a restaurant server I can actually try this now thank u.

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  6. I'm going to try this it will help out come Christmas time next year thanks for the post

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  7. I would never discourage anyone from saving, but I think this plan could be set up for failure for some people. Even doing it in reverse, the weeks that are higher dollar amounts could be difficult for some. I think a better option for saving is to put aside 10-20% of your paycheck each time you get paid. If you feel like a weekly challenge is more your style, then $25/week would give you $1300 at the end of the year.

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    1. Some people also only get paid every other week, like I do, so it would be a really difficult to do this, plus I'm still in school so I can't justify saving $52 when I need it to go towards my tuition

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    2. Joy Lasher, maybe do it by combining week 1 & week52.............. next pay week 2 & week 51, the highest amount at one time would only be 53.00 instead of 100.00 + at the end

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    3. Anonymous, that would mean saving exactly $53 each week... #arithmetic

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    4. How about $53 every two weeks

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    5. some people live paycheck to paycheck. they don't have an extra $50 to save.

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    6. I was in the "paycheck to paycheck" group my whole life. Luckily, things are getting a little better. But, you may have more to save than you think. I started writing down everything I spent and then reviewing it after a week or 2. I noticed little things I was wasting money on, like McDonalds for lunch, when I could have made a sandwich, or a $2 soda when water is better for me. Anyway, I started to be more aware of where my money was going. I started brown bagging lunch and ordering water and put the savings in a jar. I saved about $700 for Christmas money. It doesn't sound like much, but it sure helped when I had to buy presents for my 2 little boys. Hope that helps someone. Good luck.

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    7. No, maybe not everyone can do it. But any money that anyone saves is a great thing : ) It doesn't have to be dollars, it can be just your daily change. Lets look at the positive side of this, not the negative : ) Happy Holidays to you all !

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    8. Here's an idea. Put $25 per week away if you can afford it. If you can't, put less. If it's a breeze, put more. At the end of the year, if you average $25, you will have $1,300 saved.

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    9. Anonymous, I was thinking the same thing as your original post. I was having a hard time figuring out how to round up the money towards the end of the year. I did exactly what you did and divided it up so for every paycheck I would automatically deposit $53. Again, with your point, even though $53 is a lot to cut out of a paycheck, I go out to eat a lot and purchase things at the grocery store which are convenient that happen to cost more - all of which could be cut.
      This whole thing is to get people to toy with what works for them. We are, sadly, part of a society that puts savings as a luxury instead of making it a priority.

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    10. This sounds like a good idea, but I agree that it could get really tough in the last weeks. I found a better solution. I just don't spend any $5 bill I receive. If I get a $5 bill in change, I put it away. Last year I saved $1200 without even realizing it. At first you notice because you realize you have money in your wallet you could spend, but after the first few weeks, it became a game. I used to use my debit card for everything, but now I try to use cash and am actually spending less.

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    11. I have another way to save money. Every time I wash a load of clothes I put 75 cents in a jar and everytime I dry the clothes I put 50 cents in the same jar. You wouldn't believe how fast that adds up. Most everybody has change and if you own your own washer and dryer its cheaper than the laundry mat. Its just a different way to save. Good luck everybody with saving money.

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    12. Remember...it's just a suggestion of how to save money...modify it to fit YOUR paycheck. Any money saved will be a great. Maybe save half of the plan...so start with $.50. Or make up your own plan. The point is CONSISTENVY in whatever manner you choose to save. Like Linda Gagliardi, for example...she has a plan and she sticks with it!

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    13. I do the five dollar trick like Linda Gagliardi. I wait til the fives reach a hundred, then cash them in for a hundred dollar bill. I stash the hundreds away until I have a planned or unexpected expense. It's like "found money" that I didn't have to take out of my paychecks. Of course, you could do this for Christmas by putting the hundreds into a separate savings account.

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    14. Not everyone can do it but I think its a great idea. Even if you only put $5 a week up it will be more than u have spending it. If u have to borrow from what is saved but pay back plus 10%

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    15. Where is everyone getting this extra money every week...I can't find any in my budget but I suppose it's a good idea.

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  8. How can I print just the form?

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    1. Copied and Pasted to XL

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    2. Right click and chose "print target"

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  9. Pfft, there's several other ways to get extra cash instead of "Saving" You want to learn how to manage your money or save it properly? How about making money in the process? Hit me up on facebook. I can help you out

    www.fb.com/migday1

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    1. Inbox me. Was wondering about the making money part u spoke of. I'm in between jobs and just got an apartment so I'm trying to get some kind of work going asap

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  10. I kind of did this this year - not as regimented - but I opened up a savings account at a bank I don't normally use, with no atm card or checks or anything. Basically deposit only. It's been great to have as a cushion that I have to really think about before using.

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    1. I have found this to also be a good plan for saving money period. Putting it in a savings account may allow interest to be earned as well. Sometimes we are our worst enemy. Using an account that is not easily accessible, reduces the chances you will use the money when shopping, going to the ATM or account overdraft protection. I use my "regular account" for those other needs.

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    2. I have another way to save money. Everytime I wash clothes I put 75 cents in a jar and everytime I dry the clothes I put 50 cents in the jar. It adds up very fast. Thats how I bought Christmas last year. Most everybody has change. Good luck everybody with saving, no matter how you choose to do it.

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    3. I like your idea about the wash. That could add up really fast. Of course, I can see me using that as an excuse to let my laundry pile up. LOL

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    4. I too tried his and opened it up with another bank just to deposit but when times became a bit tough I had to go and get it out as I withdrew it from over the counter I did not even have a bank card and used my licence to withdraw it Intentions were good but taking it out was easy. Now I give it to a friend of my there a about three of us involved and my friend s a good saver she collects it for us and then divide it at the end of the year, I think this worked out better for me as I felt embarrassed to ask her for it during the year so this gives me an initiative to save. there is no easy access to t. If you don't trust them with your life don't get them involved though lol. We collect $50 a week started it only in September and will be dividing it in a couple of weeks. Hopefully we will start early next year.

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  11. I prefer to make my jar so you cannot see what's inside and never pick it up and just add as much as you can daily! it adds up fast only open when really needed or jar wont hold any more!

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  12. Do it in reverse starting today and you'll have $202 for new year's eve celebrations! Then start at week $52 again on Jan 4th and every time that you can - put in $50 or $20 as long as that is more than the week you are on :-) The loose change added in is an excellent idea as well. This will add to $1500 or more by next year's end!

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  13. How about starting at $52 and working your way downward?

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    1. That's what I was thinking also. By November, when you are trying to buy for Christmas you are having 200.00 a month taken out and if you do it in reverse it would be much easier on your wallet.

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  14. 99% of people reading this are probably in debt. My advice, put the money towards your credit cards before you even think about putting cash in a jar.

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    1. Yep, I was thinking it could be put to better use or at least earn a little interest. Not being a buzzkill, but getting rid of debt seems a better use!

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    2. I was always taught to have a $1000 emergency fund before really going for paying off all that debt. But there are several different viewpoints on how is correct!

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    3. We are already tackling our debt but I plan to add in an extra payment each week corresponding to the week #. Might as well save some interest along the way instead of saving it all then dumping it into the credit card at the end of the year!

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    4. I agree! I transferred my credit card balance to an account with a 0%APR for 14 months and have been paying off the debt in addition to transferring money into an investment account. I pay off the credit card as I spend and get cash back on the purchases to help out with my balance. I also have garnered a significant amount of interest on the investment account. Worth looking into =)

      However, I agree that you should also have an emergency fund. Three months pay is what I have heard. I'm going with a couple months rent until I've paid off my debt.

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  15. Agree with anon above me. Sign up for online bill pay and just pay the credit card company this much each week. Imagine your debt minus $1378.

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  16. simple challange, live below your means... be it $20 or $1000 per month, you dont have to think about it, and your bank account grows, before you know it your wanting to see how far below your means you can comfortably live, ive been doing it since i was a teenager, im nearing 50% of my monthly pay as savings...

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  17. You are right anon... for those that are looking after the 40th weeks it would be tough and discouraging... then just start with half... week 1 -.50 cents... week 2 1.00...and so on...week 52 is only $26.00.... the point is to learn how to save a little money for times of need... Good Luck!!

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  18. this goes back to and old proverb or Bible story. 1 grain of rice for every day on a chessboard adds up to more grains of rice Than they had in the kingdom

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    1. But in that story, the amount is doubled each time.

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  19. I think if you are lucky enough and have the money to do this kinda thing( which I don't lol ) then you could put away £50 each week for the whole year saving a total of £2600

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  20. How about doing it the "dime" way? (.10, .20, .30, .40 ..... 5.10, 5.20)

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  21. This is a good Idea and any thing that would work for you is great. Buy a house or better a 4 plex as soon as you can. In 30 years you can afford any car you want. Sacrifice when you are young and you will be happy when you are old.

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  22. "Challange". Nice.

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  23. I like the idea of this at home savings plan. I also like the idea of the person who said opening a savings account at a bank that has no atm cards or checks. Basically, you can put money in but not take out. Remember when banks offered Christmas clubs? What happened to them? This may sound corny but here is a suggestion for those who will try the "at home savings". Use a glass jar but... before you put the top on try your best to cut a slit into the top. (please be careful) Once done, seal the top onto the jar with crazy glue. This way you can only put money into the jar via slit.... not by opening it. You won't be tempted to dip into the jar ... and the jar can only be opened at the end of the 52 wks by breaking the glass. I know this is a crazy idea... but remember when piggy banks only had a slit...and one would use a hammer to open? I don't think one would be willing to break the glass jar and keep replacing it every time they felt the need to dip into the funds.... just a thought...but happy savings to all in whichever form one picks.

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    1. My bank still has Christmas Clubs and when you are working its a great thing. Right now I cant seem to find a job facing losing everything I have worked for in my life this just makes me sad. I have exhausted everything I saved to keep things for dead promises.

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  24. i did this before but started at week 52 and worked my way backwards gets easier towards years end

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  25. I am starting this week! Thanks for the idea

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  26. I think the idea folks is to learn to save. weather its the "52 week challenge" or 5 bucks a week put it away circle a date on the calendar count it out and treat yourself. I did this with my coffee money. I stopped going to DD every morning and put the $2.02 away in a jar by the end of a month i had saved $60 i treated myself and my husband to a nice dinner out. I now make my coffee at home and continue to put the 2.02 a day away :-)

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  27. My fiance just shared this with me and we both want to do it! It will be a great way for us to save up for our wedding or for any future expenses that might come up! So glad he found this

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  28. If you want to use the money for a vacation.. Please think of me... FB @shante henry and twitter @msrahtid
    Lion Hill Travel
    I will be using my savings for travel especially since I receive perks for being in the industry...

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  29. This sounds easier than pie. Will begin this with my next pay. Thanks

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  30. I already save change each time a break a dollar I put the remaining change in my jar. I've been doing this for years it really helps when you find yourself in tough spot especally with this economy.

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    1. I do this too and it does add up for when you need it at the end of the month!

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  31. Sounds like a great way to save for Christmas next year!

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  32. This is stupid. You could just save $26.50 for 52 weeks and get the same results.

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  33. Try saving a dollar for every hour you work. Based on 40 hr week and 52 weeks youd be over 2000.00

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  34. ...Or just maybe save whatever the hell you want every week. Throw 10 bucks in every week if you want. The point is that after a few months, it will actually start to look like a decent amount of money that you saved up. If you have a spare 20 bucks every week, you will have over $1000 saved, and the damage is trivial. 20 bucks is nothing. We spend 20 bucks on shitty happy meals and overpriced pizza these days. Or 20 bucks on an extra iPhone case that you don't actually need... or 20 bucks on a cab ride when you could've just taken the bus... or 20 bucks on a shirt that's gonna be on sale tomorrow or that you're gonna wear once... or 20 bucks on those last 2 drinks at the bar that you didn't need... or 20 bucks on Starbucks.... whatever.... you get the point. 20 bucks can be saved every week. The problem is that instead of putting it aside to save, people just look at their money as a spending limit. If you pull it out of your grasp before you have the chance to spend it, it's easier to save. I have a savings account that automatically withdraws 75 dollars a week from my checking account into the savings, every pay day. At the end of the year, that equates to $3900. Sure, not everyone can pull 75 dollars a week, but anyone who is capable of being alive off their income can put aside 20 bucks... and an extra grand at the end of the year is a nice way to spoil yourself and get yourself something nice (especially if you're living paycheck to paycheck and don't ever get to treat yourself). Anyway, it's the principle. Learn to save. It will help later. Especially if you find yourself in a bind where you are no longer working or are unable to work and your income comes to a halt. Always good to have a safety net, even if it's not the hugest sum in the world.

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    1. Very good ideas. Many people buy bottled water or soda every day. They can save a lot buy taking water or soda from home. A 20 ounce bottle of water can cost 1.50 or more. Or buying a 2 liter of soda and filling a 20 ounce bottle. Many times a 2 liter of soda here cost 1.25 on sale. And a 20 ounce bottle of soda cost 1.50. I am guilty of spending on a 20 ounce bottle of soda when out instead of filling a bottle from a 2 liter.

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  35. We get paid twice a month, so to make it a little easier, we are going to do week 1 then week 52, then 2, then 51, etc. So basically, we are saving $53 every 2 weeks. That evens it out and makes it easier each week!

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  36. I did this with pennies and the calendar days (instead of weeks) this year. It is a great way to put a little bit of pocket change aside and make a difference. With the pennies it will give you $667.45 at the end of the year.

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    1. I like that. I think it's good to start small and b successful with that. Then increase the amount from year to year. Sometimes we try to go grand and then fail because we couldn't keep up. My motto is stick with what's manageable.

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  37. This is a great idea, but for me, a bit unrealistic. No way I can afford the $202 for the last month, BUT, I can average it out to $26.50 a week and come out with the same amount. Plus the extra change! Even if you can't afford the $26.50 a week, just start with what you can! Point...just start! Thanks for the encouragement!

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  38. We started doing this years ago, except we threw our pocket change in a jar every day. After awhile we started adding one dollar bills, and eventually five dollar bills. This built up fast and each year we used the money to go on vacation. This way our vacation was paid for and we didn't have to go in debt. As for Christmas, every two weeks (when we got paid) I purchased a gift card. Come Christmas I had 26 cards to be given to family members and friends. I also used coupons, but would write the check for the amount before the coupons, the coupon money went into the vacation jar. You will be amazed on how much you can actually save. We made it into a game to see how much we could save each year.

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  39. This sounds do-able....I am always trying to save money but have had many obstacles in my path. Found this site and thought IF i could just sign up 1 person a week that would be my $$$ saved and nothing would be coming out of my pocket...plus I'd be helping others - http://handofheaven.com/?id=EagleArts

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  40. This works great if you are working. If you are on a limited income there is no way to put away over $20.00 a week muchless the amount here. I hope those who can afford it do it but for the majority of people this is not reachable. Sad.

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  41. I did this for 2013 but completed it two different ways. First, I did it the traditional way of 1, 2, 3...all the way up to (well, currently) 49. I will continue to do it through the end of the year though and have the grand total of $1,378. Second, I added the current week and previous week together. So, for this week (week 49), I add 49 and 48 which is $97 and put that away separately. I have done this every week also for the whole year. At the end of the year I will have saved $2,704 in there!

    Now some people may be thinking that this is too much money to put away (doing it both ways) and it might be for you, but I can tell you I make less than 40K a year and I have been able to do this all year. The most I am (will) be ever putting away from a single week is $155.

    When I add up the TWO totals of what I have saved, doing it both ways, I will have saved over $4,000!!!!!

    Plus, my recommendation for those of you looking to start this is to do this through a separate savings account. My credit union allows me to have multiple "sub-savings" accounts. They are not my direct savings, so I do not go to those in case of emergency, but they still gain the same interest as the rest of my savings. Interest is huge when I am saving this much money because even if to begin with it's only adding pennies, those add up quickly!! Also, my money is safer there than in some jar in my house which could be broken into and stolen.

    Just some food for thought- I know it won't work for everyone but I am excited about the potential of the extra savings I will have acquired and I am going to keep doing this every year :)

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  42. I like this idea. It's simple and it's saving SOMETHING. So many people don't save a dime. Another idea is to just figure out an amount to have pulled out of your paycheck before you even see it. Put it some bank/cu that isn't convenient to get to so you aren't tempted. You'll be surprised how quickly it adds up.

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  43. So many complaining about living paycheck to paycheck, as so many people do. Even paycheck to paycheck, there is always an expense that can be cut out in a week - maybe that soda from the convenience store that costs $2, or that stop at McDonalds or Starbucks because we are too lazy to drink coffee or eat at home. Skip the soda, coffee or big mac once or twice a week and put that $$ in a jar instead. Determination and dedication goes a long way...

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  44. It is wonderful to see so many people excited about saving $$. Find your system and stick to it with a goal in mind. Using a bank is a safe way to keep from unnecesary withdrawals. Also, keeping track of EVERY PENNY you spend EVERY DAY for a month is very revealing and can make you mad at yourself foe wasting so much money on needless junk. I do this analaysis of my spending at least once a year. Learn to be thrifty (by the way thrift shops are great-clothing(sometimes new), cooking stuff, electronics, furniture etc) , Don't buy new cars, buy used, listen to talk shows that answer financial questions, don't buy whole life insurance-buy term. There is so much to learn-if you are fortunate enough to have a friend or family member you feel comfortable with to have as a mentor-to review how you are saving/spending -just be careful about investment advise. Take advantage and max out your work plan IRA AND another retirement plan you set up on your own- a Roth- study to find out how to do these-the safest thing to do with your money is to control it yourself if you learn how.(how can you even think about letting a stranger control and get paid for managing your hard earned money- you need to learn how to control $$$...and it all begins with how you spend/save that pay check.

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  45. LADY X- WHAT A GREAT IDEA AS I AM GOING TO DO AND TAKE MY KIDS ON VACATION NEXT YEAR WITH THIS-WHO EVER THOUGHT OF THIS IS A SMART SMART PERSON-THANK YOU

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  46. I like it...will try it. I'll b successful if I plan ahead... I know I can, I know I can. Best of luck to everyone.

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  47. Or even better and for the ones who live paycheck to paycheck, just do it in $2 increments. 2,4,6,8,....

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  48. I get paid every two weeks but my hubby gets paid weekly. I too am gonna do the reverse and then on the weeks that both of us get paid there will be double the amount. I may contribute 26 weeks but that will give us enough savings to do a nice xmas for the two kids. Thanks for the great savings plan.

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  49. I like this idea, but I think I want to do it backwards. start with $52 on week 1. That way, when you get to the end of the year...Christmas time...and money is tight, it will be a lot easier to stick with it.

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    1. Plus you earn more interest.

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  50. love this idea!!! may have to start it!

    what i do now is every time i go to withdraw funds from my checking account i always take $100 and i make sure to "punish" myself and put $20 of that into my savings account, its not much but it definetly adds up slowly!!

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  51. Hey, thanks for explaining it! You know, the graphic isn't "dumbed down" enough. Yeesh!

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  52. How do you "Save" $1378 when a balance of $378 is ALREADY in the balance before even STARTING to save like this?
    The idea is great. the math doesn't add up. do not mislead people with the idea that $1378 will be saved if there is a zero balance in the account to begin with. Seems like an an obvious mistake. Clearly graphics were & total were not made by an accountant... Or I HOPE that would be the case anyway! lol

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    1. My error. clearly I am not at all observant to read this cas two columns intstead on one.
      Thank goodness I am not an accountant! HA

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  53. While this is all great in theory, and of course you should always be trying to cut your frivolous spending and live below your means and not spend 113% of your income like the average American..... as well as quit spending money on liabilities and start investing it into assets (the difference between broke and rich).. You can't save your way to financial security or especially financial freedom. You have to earn your way there. You cant outsave cost of living and inflation. The only solution is to outearn it. So figure out what you're great at find a mentor and do what the economic system in America is designed for and FREE ENTERPRISE. Quit working for someone elses dream and start busting your butt for your own. Thats the only way to get ahead. (if you could save your way to financial freedom you would see Lambo's in the walmart parking lot... lets get serious)

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  54. Also, you want financial prosperity try operating in God's laws. It's called sowing and reaping folks and it's the reason so many people are broke. People are brought up to fend for themselves and take and hoard all that they ever get, they sow taking so they reap lack. These are simple principles. Kingdom living. Give and it shall be given unto you. Live that, and things will change. Believe God for that 100 fold return and give joyfully. Sow seed and name it, you need a new car, give and believe God for increase. This stuff is basic. I know a person who started out broke but vowed to start giving just 50$ a month (along with hard work obviously, and faith and belief) last time I checked he's now giving 50,000$ a month.. I think he's doing alright. So give to get. Don't try to hoard. Sure you can save this 1378$, but imagine if you gave it instead... 100 fold return baby... plus that awesome feeling you get when you're able to be a blessing in someone's life..

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    1. Some do not have enough money to live on let alone to "give." When I found myself in that situation, I became thankful and filled with gratitude to God for each and every thing (no matter how pitifully small) in my life that I did have... Thank you God for my family, my health, my bills (because if You give me bills Lord, I know you'll provide the means to pay them). When I wrote a check to pay a bill or buy food, I would draw a simple fish symbol on it to remember God's miracle of the "loaves and fishes." I thank God everyday for everything -- even bad circumstances and annoying people -- because I know God has a Divine Plan to prosper me even through them. God wishes to prosper us. Once you become thankful for every single person, thing, and situation in your life, $$$ will show up in your life -- just when you need it. God wants to prosper us and He will use many different means to do so. You cannot stop Him. Once you get in the flow of thanking God for everything, if it takes a Brinks truck pulling up to your house to prosper you, God will do it. Have faith in God and believe in His faithfulness to those who Thank Him everyday throughout their life. What do you have to lose? Try it for a week, a month, or more and be blessed, as is God's great will for each and everyone of us.

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    2. Mr. Rose there were so many things I wanted say in response to your post... I don't 100% agree with what you said about kingdom living.... I 1000% agree! ( I really should have added more zeros lol ) But here is my point. All that I wanted to say has gone out the window and I am only lead to say this to you.... You"re postings have ministered to me! God has a away of reaching his people. Thank you for that because I need to read what you wrote. .... and to the person who replied... thank you for your comment as well and blessings to you both. You both have brought to me conviction and I must be obedient.... because this is God speaking to me via both of you. God Bless You Both.

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  55. You could also switch from the beginning of the chart to the end of the chart so instead of saving $10 the first month and $202 the last month, you would take week 1, week 52, Week 2, Week 51... So it would average a little over $100.00 every month.

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    1. That's a really good idea.. Then it won't be so hard on your pockets towards the end of the year, which is the most expensive time of year.. Christmas!! I'm going to try this and I'm going to try it your way. Thanks for the idea!!

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  56. This sounds like such a great idea, the first 26 weeks would be okay, but a pensioner would find it hard, when you get up around the $50, it is a lot out of a pension.

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  57. Better yet....you can pay what best fits you budget any given week....if 52 works this week pay it and cross it off the sheet....but next week is tight...pay 5 and cross it off. etc untill all weeks are gone.

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  58. I think it is a pretty cool way to save money.....but the numbers don't add up exactly.....I think they are $100 off....look at week 50.....the amount went up $150 instead of $50......still a good amount.....great lesson for someone just starting out in the workforce. Or a teenager working after school.....

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    1. The final number is correct, but in week 49 they accidentally went down to 1,125 instead of up to 1,225. Then in week 50 it corrects itself.

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  59. I did this, but created spreadsheets to conform with my bi-weekly paydays. Kept 2 going, one for vacation and one for Christmas. Completed both of them, it was actually fun. Found myself paying ahead so by the time I got to the final payments, they were actually not so big.

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  60. I like that the OP had to print this out to know how much to save each week. SMH

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  61. Watch for ads from banks offering "rewards" to open a new account. Usually $100 will do it. Be sure to read all the fine print and make sure it works for you. Having a savings account and direct depositing $10 every paycheck was easy and not missed by me. It is not much, in an emergency it is a lot.

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  62. This would be even more brilliant if people such as myself could afford to put that much away per week... if i went past week 20 my children and i would surely starve

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    1. Hi there you don't have to follow this instead save what you can afford as long as you are ale to do it, there might be weeks when you might not be able to do it at all, make up for it when you can, but the temptation will be there for you to spend it.
      M aybe paste a note on the bottle to say why you are saving it for this might be an added initiative every dollar counts and at the end of it you may have more that you had first set out to collect. Good Luck. I am good at advising people how to save but when it comes to me I find t hard as I love to spend, So maybe get a couple of friends involved and make a commitment to save an ex amount per week this might make it easier and give the person who is good at saving to keep the money, only if you really trust them believe me this works out better. I found out that paying a higher tax bracket too gives you a good return when you put your tax in at the end of the financial year, because what you don't see you don't miss. (this is for those living in Australia) and not on a high tax bracket.

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  63. Can't wait until we finally are living paycheck to paycheck. We well actually have money left over for once.w save cans, because we've been able to get those on a great sale. Like 4 12 packs for 10 bucks, but it's money in a form we can't spend.

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  64. This would be great but I'm a college student with a high tuition to pay and there's no way I could ever afford to put more than 10 or 15 in a jar a week. Perhaps after graduation, I could afford closer to the listed amounts but I can't see that happening for several years. Perhaps I'll try a dollar a day. 365$ doesn't sound like a bad amount for me and my lifestyle. I live on 10,000 a year (car insurance, gas, rent, groceries, etc) plus tuition (which is scholarship paid) so there's not much wiggle room for me. Thinking a weekly extra 15$ every week sounds a bit drastic for my very frugal lifestyle, so I'll try a dollar a day.

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  65. for everyone here find a book called "The Richest Man in Babylon"

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  66. I started saving all of my loonies and twoonies and putting in a bank,> At end of each month i would roll them all. At end of november i had 1300.00 saved. I have lots to spend it on , > I think i may keep adding to this until spring and then i can do a few things with my home. Great idea. I will be doing it every year.

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  67. This is a great way to save money for the Holidays. Beyond Christmas gifts there are always extra expense with entertaining, travel, food and more.

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  68. Unfortunately this is not possible for some...I take out enough money from my paycheck for gas to cover 2 weeks.til my next paycheck..the rest goes into my checking to pay the bills....I don't have extra to put aside to save.....it' sounds easy but for some it's simply not do able ....it's a very sad world for those who live paycheck to paycheck and there's nothing left in between...you can't save when the paycheck you bring home doesn't even cover all the bills....

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  69. INTEREST RATES:


    For a standard savings account, you are only looking at around $5 at the end of the year.
    - Assumes a .2% APY
    A 1-year CD or money market account are going to yield a similar ~$5 at the end of the year.
    - Assumes a .2% APY
    For a High Yield or Online savings account, you may see up to around $20 at the end of the year.
    - Assumes a .8% APY

    This is of course better than nothing, but the interest earned from this amount of money is by no means going to be a game changer.

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    1. So glad you posted this. I was wondering what the numbers looked like!

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    2. Noice Thanks for dat tho

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    3. I see you Anon. I see you. Thanks for letting me know that I shouldn't get my hopes up for bank interest rates ;)

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  70. "Challange?" What's a "Challange?" Is it similar to a Challenge?

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  71. This is an amazingly terrible way of saving money. If you want the $1,378, the best way is just to direct deposit the same $26.50 a week, every week. If you're just keeping it in a jar at home, it'll usually prove too tempting to borrow from it with intentions to pay it back, which WON'T happen. Doing this sliding scale thing is just a (bad) trick to make it look easy, but those last 10 to 20 weeks aren't as easy as the first 20 weeks. You won't do it. The answer to money problems isn't tricks and slight-of-hand, it's a steady, dedicated, disciplined approach, and getting rid of the urge to buy stuff is key. Challenge yourself to buy as little as possible. Make that your mantra. Learn to hate spending your money.

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  72. Learn to hate spending your 'own' money.Now that the 125 weeks of free gov't money is over, Your only choice is to run for a Political office.
    You get to do almost nothing except spew useless BS and get paid very well with benefits you can't match with Obummacare.

    With just a couple under -the-table deals your life can change dramatically.Ask any ONE of them now in office.

    The rest of the plans to do it honestly,well-you've got a better chance of being hit by a meteor.And living.

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  73. My son got us started saving the "purple" $5.00 bills, on the back the 5 is purple. When we get 20 we change it for a $100.00 bill. You'd be surprised at how much you can save. That's what we use for Christmas and birthdays. But I think I'll try this too. As they say the more the merrier, especially when it comes to money!

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  74. I would like to try this. Since I am from the Philippines, I would like to know Php1 is a very small amount compared to your dollar. Could there be a Philippine version of this?

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    1. One US dollar equals 44.41 Phillipine pesos. But our cost of living is different also. Set aside an amount that you can do but that might stretch you a little to do it.

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  75. One might use this surplus to rid themselves of a bill or two.

    http://www.retirebeforeyouaredead.com/reduce-expenses/reverse-engineer-your-expenses/


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  76. Just saw this for the first time.... going to start on week 4 and so I will have the same amount by the beginning of the December for Christmas gifts next year :) Planning ahead. Sure we don't have a ton of money to put towards this but by cutting back slowly here and there. Money is there you have to make good choices to find it :)

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  77. i started doing this but became unemployed after 35 weeks so i had to dip into it and pay the bills hope to start it again soon meaning a new job

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  78. Another version of the 52 Week Money Challenge. This one spreads it out over the whole year vs. having to put more money out at the end of the year. Link to my blog: http://www.iluvsandals.com/

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  79. I started this las summer but ended up needing the money for bills. Am going to start again in 2014. Being on limited income I made my own chart and used this one as my goal but also made an actual column in case I couldn't put in the weekly amount. Some weeks i put more in and others less.

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  80. Challenge...my son and i would look for change in parking lots. In a little over a year, we collected $46.00 it was also alot of fun.

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  81. I would rather put It in a savings account than in a jar. Save the money for a month and then put it in the bank. At least you'll get extra money from the interests.

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  82. Put $26.50 in every week and it'll add up to the same at end of year that way you will be used to the same amount coming out of your pocket every week and it won't get harder and you will less likely to come up with a bad excuse to not save for that week towards the end

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  83. My husband suggested doing it backwards, so you're not trying to save the most during the most expensive time of year.

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  84. This is a great idea! I wanted to make more of a game out of it so I used a deck of cards. Check it out!
    https://docs.google.com/spreadsheet/ccc?key=0AgIDH1O5O9zldHlHZFE3TVpyR210T1VvTldSbFdrTnc&usp=sharing

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    1. Jason-

      What a great idea!! I would love to share this on the blog with our readers. Would that be okay with you?

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  85. Just put in $26.50 per week, then you dont have to remember which week it is, and with the number always being the same, it will become a habit. Same amount of savings by year's end. Totally going to do this for Christmas presents for next year, so we won't be so broke after Christmas!

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  86. http://www.theweeklypay.com/index.php?share=211029

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  87. This sounds like a great challenge, this is what i do for people as a profession, but on a bigger scale. it is good to start somewhere and getting into the habbit of saving. If anyone wants tips on saving and planning for retirement house purchases, college, or any other big purchases give me a call. (860)268-3947 my name is Jon Solenzio I work for Northwestern Mutual. JonSolenzio.nm.com is my website.

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  88. This is a great idea if the person had enough control to NOT take it out of the money jar. I know someone in my family that would take it out before the 4th week!! I recommended all sorts of ways to budget but "they" keep spending each week until there is "ZERO" in their bank account. I've had $100 automatically taken out of my pay and put in a credit union since I started my job in 1999! The credit union isn't where I do my banking and is out of the way to go get any out, so there's a chunk for ya. We've paid off a car and other things during those yrs!

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  89. I get paid bi-weekly. Sure wish I could play. LOL...

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  90. This is a great idea, perfect for Christmas gifts or saving for a personal treat, like a vacation!

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  91. That's all well & good but would it work with euro???? Also if you do it in reverse, as some of you are saying you'll end up with less money.

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  92. ANONYMOUS. THIS SOUNDS LIKE SOMETHING I WANT TO TRY.

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  93. I didn't want to read ALL the comments so someone may have already suggested this, but I didn't stick to the $5 in week 5, $28 in week 28 etc.....each week I looked at what I could afford to save and ticked that amount off the list........I ended up being able to save all the amounts in the 52 weeks.........unfortunately, 3 weeks before the end of the year my car needed $1425 in repairs :(

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  94. I just setup a text based reminder system for this challenge.
    There are 2 different reminders: Anywhere and local to Muskogee, Oklahoma.

    Local to Muskogee, text the word ( SaveMoney ) to 71441, no spaces.

    Anywhere else, text the word (MoneyJar) no spaces, to 71441 Get a weekly reminder.

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