Resource of the month: - Explore the best wellness challenge ideas for your workforce

Take The 52-Week Money Challenge And Watch Your Savings Grow

10 min read
Published on 21 February, 2023

Are you ready to learn about a fun and easy way to save money? If you're an employee, this is the perfect challenge for you! It's called the 52-week money challenge, a great way to save up for something special or just to build up your savings.

A lot of professionals advise setting up an emergency savings account. The funds are designed to pay bills or offset living expenses due to a job loss, a health problem, or unplanned maintenance. However, it might not be easy to develop a consistent savings plan. The most straightforward route to get there is to complete the 52-week savings challenge.

Building a cash reserve that can cover you in an emergency and attaining future financial objectives depend on developing a saving habit. However, it might be difficult to find the money to save, particularly when money is scarce.

The best part about this challenge is that it's easy, and you can do it with your colleagues too! Find out how this Savings challenge functions and who stands to gain the most from it. Let's start saving!

What Is The 52-Week Money Challenge?


This savings challenge requires participants to deposit an increasing sum of money each week for 52 weeks.

Here's how it works: each week, you save a certain amount of money, starting with just $1 in the first week. Then, each week you add a dollar more than the previous week. So, in the second week, you save $2; in the third week, you save $3, and so on.

You will save at least $1,378 in your bank account at the end of the 52 weeks. This challenge is adaptable and may be completed in a few different ways. You can even increase your savings if you want to deposit additional money each week.

52-Week Savings Schedule


Why Try The 52-Week Money Challenge?


This Challenge is an entertaining approach to saving significant money in a single year. This is based on a 52-week calendar year.

The concept is to make weekly deposits to a savings account, beginning with a very small sum that gradually increases each week, helping to exponentially raise the total amount of money saved over a year. We get the confidence to take risks and widen our perspectives after overcoming any hurdle.

Any practical difficulty only prompts us to move forward. So why wait any longer? Start this challenge today for a brighter tomorrow. Develop your financial, emotional, and behavioral well-being.

How To Begin The 52-Week Money Challenge?


First, choose a suitable, risk-free, and growth-friendly place to save your funds. This is crucial.

You might find a straightforward piggy bank useful, but not everyone has cash on hand to deposit each week. Additionally, keeping your savings in such a convenient location can entice you to use them before the challenge is up.

Instead, consider creating a high-yield savings account and depositing your challenge money weekly. A savings account can help you acquire more over the year through interest-rate earnings and reduce impulsive buying.

If you truly want to simplify things, consider using automated savings options. You may automatically transfer a specific amount of money into your new savings account using these tools, which come with many mobile banking and money-saving applications. If you never see it, you will never have the opportunity to miss the money before it is saved.

When Is The Ideal Moment To Begin A Money Saving Challenge?


The beautiful thing about the 52-week savings challenge is that you can begin it whenever you choose. However, if you want it to be a part of your New Year's resolution, beginning it in the first week of the year will ensure you have at least $1,378 by the last week of the year - assuming you follow it religiously.

Benefits Of The 52-Week Money Challenge For Employees


You will save more than $1,000. Thanks to this challenge, which is undoubtedly advantageous financially, especially if you find it difficult to save money aside. Besides making more money, there are several more advantages to finishing the challenge:

1. Developing Robust Financial Habits

Reaching your financial objectives by pushing yourself can offer a variety of long-term and short-term advantages. Setting difficult but attainable objectives can help you cultivate a strong sense of discipline and drive that will keep you concentrated on your financial path.

This can result in the formation of wise financial practices, including setting up a budget, saving money, and paying down debt. You will not only achieve your financial objectives if you push yourself and regularly work toward them, but you will also lay a solid foundation for long-term financial health.

2. Regular Saving


Anything may inevitably become a habit after 52 weeks, and when it comes to money, it's a great habit. As you become more sustainable and frugal, be sure your future is protected. Your financial situation will eventually serve as a standard.

3. An Improvement In Financial Assurance

You can change your mindset about saving by completing this money challenge, and you'll be able to witness firsthand how consistently setting aside at least a small amount each week will help you reach a savings target.

After you complete the challenge, you may use your momentum to tackle a different money challenge or begin automatically setting aside a certain amount of money each pay period.

4. Budgeting Exercises

Modifying your spending to achieve your goals could take some practice if you aren't used to planning your weekly costs around savings. For important financial objectives, like saving for a down payment on a home and reaching financial independence in retirement, budgeting your money to put saving first is a lifetime financial skill that is essential.

5. Personalize It

The challenge may be changed to suit your needs. Although the method given above is the most typical approach to finishing it, it isn't the only option. You may alter it to suit your financial tastes and goals. You may also change your contribution level to conclude the year with more or less money according to your situation.

6. Join More People For Accountability

The 52-week challenge can be completed alone, but it might be more enjoyable to challenge a friend or colleague or gather a group of people to save money with you. They can aid in keeping you on course and offer support and encouragement as required. Furthermore, if you've decided to save with a team, you'll be less likely to consider backing out.

7. Your Purchasing Patterns Can Be Highlighted

The concept of saving $52 in the last week of the challenge could sound like too much if you aren't a natural saver. However, saving $1 in the first week seems feasible. After a year of developing your saving habit, the money challenge enables you to progress toward that goal. If your budget is tight, you still have plenty of time to determine how to increase your savings.

8. You'll Have Almost $1,300 In Savings After The Challenge Is Over

You'll have $1,378 saved if you finish the challenge. That money can be set aside for a specific financial objective, or if you don't already have an emergency fund, you can create one by putting it in a high-yield savings account.

Suggested Read: 16 Effective Money-Management Tips For Corporates And Employees

Tips for Staying Motivated and Achieving Your Goals


Here are some strategies for inspiring oneself to accomplish personal objectives, such as conserving money.

  • Write it down: List your objectives and keep them in plain sight. Having daily reminders of your objectives helps keep you motivated.

  • Draft a plan: Divide your goals into smaller and more doable tasks. Then try to accomplish them step by step.

  • Celebrate every accomplishment: Celebrate each step of the journey, no matter how tiny it may seem. You'll feel accomplished, which will keep you motivated.

  • Establish a reward for yourself: Create a system of rewards for yourself to motivate you. Set up a reward system for yourself. For instance, reward yourself with a movie or a nice dinner when you accomplish a specific milestone.

  • Be optimistic: Remain upbeat and concentrate on your accomplishments and recent improvements. Remind yourself of your goals and the reasons you started.

  • Hold on: Remember that setbacks are common and a necessary part of the process, and don't give up. Continue to work for your objective.

Suggested Read: Financial Stress : A Big Deterrent On Employee Wellness And Work

How To Modify The 52-Week Money Challenge?


You can modify the challenge based on your financial habits or goals. You may begin with the largest sum and deposit a smaller amount each week. Alternatively, you can deposit the same amount each week.

1. Ordered By Lowest To The Highest Amount

The classic challenge is a strategy that ranks amounts from lowest to highest. Beginning with $1, you will deposit more money each week until the conclusion of week 52, when you will have deposited a total of $1,378.

2. Order By Highest To The Lowest Amount

You may turn the 52-week money challenge on its head by making your largest deposits earlier if you anticipate spending more at the end of the year, possibly because of the holidays. With this strategy, you start with the largest deposit - $52 at week one - and make a smaller deposit each subsequent week. You will thus deposit $1 in week 52, bringing your total to $1,378.

3. Weekly Savings Of $26.50

This straightforward strategy still results in a $1,378 total at the end of the year if you want to simplify things. By employing this technique, you will deposit $26.50 per week. To avoid having to worry about making separate deposits each week, you may also set up automated transfers to occur every week.

Suggested Read: Financial Wellness- An Issue in Overall Employee Wellness

Tips To Save Money


Any endeavor involves preparation, in this instance, having enough money or revenue to complete the objective. What steps can we take to succeed in the 52-week savings challenge?

1. Budgeting


Budgeting is the fundamental step in beginning to save money. It is a strategy for your finances, detailing how each dollar should be spent. Instead of winging it with just plain old money plans, a savings challenge provides a workable approach to include in your budgeting plans.

Based on your payment schedule—weekly, biweekly, or monthly—you may adjust your budget and distribution of cash for the challenge.

2. Trade Stocks


No, we're not referring to your real stocks. We refer to the numerous items in our homes stored in the attic. Help yourself organize your belongings by selling whatever you no longer need to free up room in your house and raise money for your 52-week savings goal.

3. Cut Back On Unnecessary Expenses


If you want to succeed in this challenge, think about reducing part of your weekly spending. As you begin forming sound spending habits, this also aids financial literacy.

Look through your existing spending plan to see if any costs are being missed. Pay close attention to any subscription services you no longer use and determine whether your spending on food delivery services is excessive.

You can also earn extra money by selling things you no longer need.

Suggested Read: 5 Ways to Promote Financial Wellness Month at Your Workplace

A Word From Us

Your savings routine may be charted by participating in the 52-Week Money Challenge. However, it is crucial to balance the benefits and drawbacks of this strategy so that you can choose whether it is appropriate for you.

It enables you to personalize it to suit your needs so that you may adjust it as necessary. If it fits your needs, create a chart, choose a due date, and save!

Frequently Asked Questions (FAQs)


1. How much money can I save with the 52-Week Money Challenge?

Suppose you save $1 and increase it incrementally each week. You'll have saved $1,378 by the end of the year.

2. Is the 52-Week Money Challenge suitable for everyone?

This challenge is a great way to develop a savings habit and build up a substantial amount of savings over a year. However, it may not be suitable for everyone. If you're on a tight budget or have other financial priorities, committing to saving a set amount of money may be difficult each week.

3. Are there any variations of the 52-Week Money Challenge?

Yes, there are many variations of the challenge, including the reverse 52-Week Money Challenge, where you start by saving a larger amount of money and decrease the amount each week. You can customize savings amounts and intervals to suit your personal financial goals and preferences.

This article is written by Ritushree R Singh, who is a content writer and marketer at Vantage Circle. Besides having a curious heart with an avid taste for music, she relishes traveling to new places and exploring different cultures whenever possible. To get in touch, reach out to

Vantage Fit Logo

Vantage Fit - A complete AI-Powered Solution for seamless implementation of your Corporate Wellness Program to nurture a healthy and engaged workforce

Schedule a Vantage Fit Demo

How Corporate Wellness Program can Help Your Organisation


Discover Personalized Corporate
Wellness Solutions Today !

Get Corporate Wellness Tips



Subscribe to our blog today


Download Corporate
Wellness Guide