52 week money challenge

Status
Not open for further replies.
I’m currently doing this myself. Instead of putting cash in a jar(it’s too tempting). I use an app called Qapital. I set up the challenge and it link to my bank account. qapital always let me when they are taking it out, if I don’t have a certain amount in my bank account they won’t touch it and resume back when I do.

The jar seems too tempting for me, too. I haven’t decided what to do with my money. A Qapital account is one of the things I’ve looked at. I may stick with my old fall back and wait until I have $250 so I can open a USAA variable rate CD.
 
The jar seems too tempting for me, too. I haven’t decided what to do with my money. A Qapital account is one of the things I’ve looked at. I may stick with my old fall back and wait until I have $250 so I can open a USAA variable rate CD.

I just pull the amount and transfer it to my savings account. Maybe you can try doing something like that?
 
I just pull the amount and transfer it to my savings account. Maybe you can try doing something like that?

I appreciate the suggestion but I feel like I need to put it in a dedicated account so it will stay safe. We usually keep different accounts based on the goal (emergency fund, car fund, etc.). Our regular savings account is for unexpected expenses & a household goal (right now it’s new living room furniture). If I put this money in our regular savings account it’s unlikely it would go towards my goal for this money, a 2019 vacation ;)
 
I appreciate the suggestion but I feel like I need to put it in a dedicated account so it will stay safe. We usually keep different accounts based on the goal (emergency fund, car fund, etc.). Our regular savings account is for unexpected expenses & a household goal (right now it’s new living room furniture). If I put this money in our regular savings account it’s unlikely it would go towards my goal for this money, a 2019 vacation ;)

I totally get it. Maybe make another account just for this so you know it's definitely money you can't touch.
 


I need to start doing this again, I tried last year but the larger amounts towards the end really were hard.

As I posted earlier do it backwards. Start with $52 the first week and work down. That way when it's closer to Christmas you only need to be putting in $5, then 4, 3, etc in. A lot easier to come up with a total of about $15 in the last month rather then around $200. Also you notice an immediate savings, in the first month you have around $200 in instead of something like $12.
 
As I posted earlier do it backwards. Start with $52 the first week and work down. That way when it's closer to Christmas you only need to be putting in $5, then 4, 3, etc in. A lot easier to come up with a total of about $15 in the last month rather then around $200. Also you notice an immediate savings, in the first month you have around $200 in instead of something like $12.
That’s a very good idea!!! I’m gonna try that!
 
I have done this several times. I have switched to a flat $20 a week as, hey, everyone should have a $20 bill in their wallet. It brings the total to just over $1000 for the year. Since some weeks I do $40 or more I complete more than one challenge a year. I love having my secret stash of cash for those unexpected expenses or wishes that come up throughout the year. This is how I was able to pay for my new $800 Speed Queen washer without taking from regular house money!
 


I save a little extra money a little differently, besides having an account from my bank that I put money into. Every time I go to the grocery store when it asks if I want cash back I always take out at least a $20. Sometimes I will take out a little more depending on our bills for the month. It tends to add up. Sometimes I am in a hurry and just forget to do it though.
 
I save a little extra money a little differently, besides having an account from my bank that I put money into. Every time I go to the grocery store when it asks if I want cash back I always take out at least a $20. Sometimes I will take out a little more depending on our bills for the month. It tends to add up. Sometimes I am in a hurry and just forget to do it though.
This is also a great way of saving it does add up! :)
 
I'm doing something similar to this. The other half and i get paid on opposite Fridays. We are working on paying down our debt on credit cards...but along with that...We also need to save a good chunk of money as our Daughter got engaged on New Years. So one week I'm taking 150.00 and the other week 80.00 and putting in my locked box for their wedding fund. That will give us close to 6000.00 by the end of the year. I also up cycle items ( coffee tables, endtables etc etc etc ) and recycle them for a small profit. That money will also go toward the wedding fund/ or paying down debt or start my trip fund :flower1:
 
I did it a few times. First time I did it , it was hard and I had to dip into it. 2nd year I skipped around and used smaller amounts during the months I didn't work. 3rd year I started backwards with the bigger amount first. Doing it backwards was more successful for me. I didn't do it last year or this year. DD started college and I'm paying her dorm and meal plan so no challenge for me for the next 3 years. Once she's done with college then the money for dorms and meal plan will go to the challenge and savings
 
I'm doing two challenges this year. I'm doing the 52 week challenge in reverse and I'm doing one that my friend does where you don't spend any $5 bills. I try to always have a $20 in my wallet so if someone from the office goes to the coffee shop or picks up sandwiches, I will have cash to pay. When I get my change, I put any $5s in a jar.
 
I'm doing two challenges this year. I'm doing the 52 week challenge in reverse and I'm doing one that my friend does where you don't spend any $5 bills. I try to always have a $20 in my wallet so if someone from the office goes to the coffee shop or picks up sandwiches, I will have cash to pay. When I get my change, I put any $5s in a jar.


Yes we do the $5.00 in a jar too! any extra $5's we add to the jar it's great!
 
52 Week Penny challenge.

My daughter found this online also. She is doing this by herself on her own.
She has found a bunch of change around the house ransacking our cars in
couches etc. She puts all found in her bank then transfers the amount due
to her challenge bank. Every day she puts in loose change and asks us if we
have any. If she keeps this up to schedule she will have almost 700 at end of year!!

https://clark.com/personal-finance-credit/penny-challenge-save-668/
 
The company I work for just told us today that the withholding changes by the IRS are taking effect on this weeks paycheck. I might be in if there is a little extra in my check every week.
 
Status
Not open for further replies.

GET A DISNEY VACATION QUOTE

Dreams Unlimited Travel is committed to providing you with the very best vacation planning experience possible. Our Vacation Planners are experts and will share their honest advice to help you have a magical vacation.

Let us help you with your next Disney Vacation!





Top