52 Week Christmas Savings Challenge

by Marcy on December 31, 2014 · 1 comment

52 week savings challenge

52 Week Christmas Savings Challenge

Happy New Year!

If you missed my version of the 52 Week Money Savings Challenge last year, I wanted to be sure to direct you to it here. The concept is simple – deposit a set amount of money in your savings account each week and watch it grow. This chart does not depict any interest that you’ll earn since that varies by bank, but it gives you a nice idea of how quickly small amounts of money can add up!

I modified the chart to start with the higher savings amount since many of us get cash gifts for Christmas. If that’s not the case for you, you can reverse the order to start with the lower dollar amounts.

You don’t have to use this savings plan for Christmas – I might actually try this to save for a Disney trip instead.

Did you try this in 2014? If so, I would love to hear how it went for you!

Be sure to check out the 52 Week Christmas Savings Challenge for 2015. Are you in? What do you want/need to save for?

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{ 1 comment… read it below or add one }

1 Carmen N January 2, 2015 at 12:23 AM

In 2014 I found a site that talked about doing this but started with $1 and work up to $52. I felt that was going to be too tight at the end of the year with gifts to purchase as well. At first I switched it to alternate weeks: 1, 52, 2, 51, etc. but after a while it was hard to keep track. Either way you save will get you to $1378 (before interest earned) which averages to $26.50 per week. I like even numbers so I bumped that up to $30 per week. My balance as of 12/31 was almost $1600! I have it tucked away into a savings account in a separate bank that makes it more difficult to just transfer money unless it’s truly an emergency.
I’m definitely continuing for 2015!

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