Connect with us

Save Money

Start Your Savings Journey Right with the 52-Week Challenge!



The 52-week challenge has been around for a while, but it got its notoriety in January 2013, when 911 dispatcher Kassondra Perry-Weaver stumbled across a simple chart that outlined a painless way to save over $1,000 over the course of a year, by consistently stashing away a set amount of cash week by week. She incorporated accountability by having family and friends help her stay on track, and today her Facebook Group has more than 7,000 members!

The Benefits of the 52-Week Challenge

Many people use the 52-Week Challenge as a way to establish healthy and consistent saving habits, and even build saving vehicles for goals like emergency savings. When it comes to saving, every little bit counts, especially since economists state that Americans’ savings have hit a 10-year low at 2.4 percent, which is below the threshold to even save comfortably for retirement. While this challenge may not give you the stacks you need for retirement, it’s perfect for new savers (and seasoned savers) so they can get on track for other goals, like:


 How to Complete the Challenge:

The way the 52-Week Challenge works is pretty simple. You start in week one by depositing $1 dollar. Every week after that, match the amount of money you’re depositing with the number of its corresponding week. For example, in week 31, you will deposit $31 into your savings account. It might not sound like a lot, but by week 52, you’ll have saved over $1,300!

Speaking of savings accounts, make your journey to saving more beneficial by putting your funds into a High Yield Savings Account. This type of savings vehicle will get you to your financial goals faster as you will earn compound interest on your balance.

If you’re up for trying to save even more, try doing the Penny Challenge simultaneously with the 52-Week Challenge. The Penny Challenge works just like the 52-Week Challenge, except you save on a daily basis instead of weekly. At the end of the year, you would be depositing $3.65 to get a total of $667.95. Through both challenges, you would have saved $2,045.95. You could buy a lot of items with that, but you could also invest in a Roth IRA, a 529 plan for your younger family members, or open an investment account. Once you start saving, your financial possibilities are endless!


I know it’s tempting to touch those funds, but if you really want to be rolling in the dough, try saving until you hit the two-year mark. You can do this by extending your challenge to 104 weeks, giving you a total of $5,500. Talk about a supersaver!


  • Don’t pull from your savings. It might be tempting, but you would just let all your hard work go to waste by using your savings as another means to pay for items that should be included in your budget.
  • Don’t neglect your other savings accounts. The more money saved, wherever it’s housed, the merrier you will be.
  • Don’t stop saving. It seems like a simple enough rule considering you need to save to complete the challenge, but life can become overwhelming. Remember before you even start saving you should have your budget established so you know where the dollars go. 

Hopefully, this gave you the information and motivation you need to start your saving journey. If you’re ready to start your 52-Week Challenge, you can use our worksheet by downloading it here!

New Call-to-action

Read the full article here