52 week money saving challenge is really an interesting way to make your pockets happy. Trust me, exactly after 52 weeks you will realize that you excelled in the art of saving money.
Well, I’m in my 20s and even I’ve faced many interesting money-saving challenges at this early stage of my life. I used to save more than 70% of my monthly salary from my first job. And now I can call myself as self-employed happily.
So you can also turn your dreams into reality when you are financially empowered. And this financial empowerment begins with frugal living and saving money.
What is the 52 Week Money Saving Challenge?
52 week money saving challenge is about saving money every week. In the first week you will be saving just $1 and then you need to go on increasing the dollars. At the end of 52 weeks, you will realize that your saving habits have become so strong.
52 Week Money Saving Challenge to CHANGE YOUR LIFESTYLE
Well, I liked this idea of 52 week money saving challenge. This challenge is very that anyone can take this challenge who wants to save more money and inculcate saving habits.
Does the 52 Week Money Challenge Work?
Yes, the 52 week money saving challenge works well. This challenge is created in a such way that your mind gets training to save money for the next 52 weeks. So start this challenge and it works.
How much money will you have after the 52 week challenge?
After the 52 week money challenge you will have $1378. That means if you have maintained consistency and implement the right strategy then in one year you will be saving $1378.
How to Do the 52 Week Money Saving Challenge? – 25 KICKASS TIPS to Free Up Your Cash
To take the 52 week money saving challenge you should start to free up your cash. In the first week, you just need to save $1 and in the first 4 weeks, your total saving should be $10. So as you move forward you should free up more cash to win this challenge.
1. Avoid eating outside food, save up to $20 EVERY WEEK
Eating outside food frequently is not good for your health as well as for your pocket. So munch food at home. Even teenage girls and teenage boys around the world are learning to save money on food, even investing their money to have a bright future.
So make sure you too follow frugal tips to save money on food. And you can use that money on other good things to explore your life wisely.
2. Save $50 EVERY MONTH on fitness, be healthy and fit at home with minimum money
Cancel your gym membership if you are not going there regularly. And use simple tools like skipping rope, acupuncture kit, and do cardio or yoga. You don’t need to spend more money on costly equipment to be healthy.
Even there are some specific TV channels for fitness tips. You can watch such TV channels to learn exercise. On an average, gym membership charge ranges between $20 to $50 per month. So save those dollars.
3. Check out cashback websites to save money on EVERY ONLINE SHOPPING
There are many cashback websites that provide you cashback deals while shopping online. You can check out the Rakuten website to save money on shipping by getting cashback. This website includes so many online stores like Amazon, eBay etc. Globally this site is active for most of the countries.
If you are from India then you can check out another app CashKaro. This site also helps Indians to earn cashback through online shopping. So sign up here and check out deals to earn cashback on shopping to save extra money.
4. Know how to crack great deals while shopping online and SAVE UP TO 80% of your money
If you want to buy any costly clothes or shoes or other accessories don’t buy immediately. Wait for online clearance sales. In this way, you can save more money.
In fact, you can save up to 80% of the money on shopping by option clearance sales. Try to understand the secrets of frugal people who choose smart shopping hacks to save more.
5. Have Multiple Sources of Passive Income to SAVE MORE DOLLARS in 52 Weeks
Passive income streams are the best sources of income. You can easily have multiple sources of passive income streams. This will help you to earn more money thereby you can save more money.
Even I’m exploring many amazing passive income ideas in my 20s.
6. SAVE UP TO $19 on shopping by looking for alternative products or brands
Recently I was looking for a whiteboard and I found that it costs around $22. Then I looked for an alternative product. I found a whiteboard sticker for around $2. This was a great deal for me. So I saved up to $19 on a whiteboard.
So one should look for alternative products or brands while shopping. Here you may not get your favorite brand but you will get other good brands with good quality products. Follow easy ways to save extra money every week.
7. Know where you can buy the best second-hand products to SAVE EXTRA
Instead of spending money on new products. Look for second-hand products. Nowadays you can also get online websites where you will get good second-hand products.
There are so many people who have listed their products online. So choose such second-hand products at a reasonable price.
8. Pool money with friends and save on your monthly Netflix subscription
Pool money monthly on your Netflix subscription. By doing this, watching movies and your favorite shows will be cost-effective because this money can be divided equally among friends.
The premium plan subscription charge is around $10 per month. And a total of four members can join with a single subscription. You can save up to $7 by diving this subscription charge among your friends.
9. Avoid spending money on the things that harm your brain cells
Some addictions are not only bad for your pocket but that harm your health as well. So stay away from addictions like alcohol, smoking or drugs. I feel that youngsters should inculcate frugal habits instead of bad habits.
Do not pick such habits that will not help you. Be more productive and inculcate good frugal habits.
10. Use public transport and end up being a Budget Commuter
Instead of spending money on fuel and a vehicle you can use public transportation. Also, you can opt for carpooling to save money on transportation.
If you have your own vehicle then you will bear extra expenses as repair, servicing, insurance. So you can save all these extra expenses by using public transportation.
11. Choose handmade gift Ideas during festivals to SAVE MONEY
If you start to take this 52 week money saving challenge from January then after 48 weeks December comes. The month of the festival. So that will be a more challenging month for you to save more dollars like $52 per week.
So make your own handmade gifts during festivity to save your pennies. There are many handmade gift ideas like- greeting cards, photo frames, painting etc. Handmade gifts have their own charm. And this creates a special and strong bonding between friends and relatives.
12. Read books for free and listen to audiobooks without any charges
Save money on books. If you are like reading books then first you can make the best use of the library in your city. And you can also pick up ebooks or audiobooks online at a reasonable price.
And on YouTube, there are many good channels that give brief summaries of popular books. So check out such free YouTube videos.
13. Save around 50% money on greengrocer by planting your own kitchen garden
You can easily grow some green-grocers at home. Even I’ve some green table plants at my home which are helping me to save money.
At my home, I’ve plants like Malabar spinach, curry leaves etc. So I can use these fresh greengrocers without paying any money. Even during the era of great depression people were being more frugal and kitchen gardens were trending during that period.
14. Save money on spa services by pampering yourself at home
Nowadays you can get the best quality of manicure and pedicure kit at a reasonable price. So you don’t need to visit a spa or beauty parlors for this by spending more money. These frugal tips will especially benefit women.
You can easily save money on spa bills. If you follow these frugal tips.
15. Go all DIY for clothes instead of shopping all the time
Did you know that the world’s most famous fashion designers have the knack for DIY (do-it-yourself) when it comes to experimenting with new outfits and trends ? So why not try the same at home ?
Convert a pair of lousy jeans into punk shorts or convert a hoodie into a short skirt and flaunt it all over. This helps to save a lot of money.
16. Choose to earn money early in life and prioritize being independent
There are many options to make money. Even if you are a student then also you can make money online. So try to be financially independent as soon as possible.
Nowadays you can check out some genuine websites which offer part-time jobs. Also, you can choose internships to make money.
17. Follow Life Hacks, fix things at home and save a ton of money
Life hacks are smart tricks whereby you find solutions to things at home yourself, fix them and save money. This is in contrast to asking a professional to help you and pay him due fee.
If you’re new to this, take the help of free tutorials from YouTube. Watch such videos and try to fix things or prepare things yourself at home instead of investing money on new products or services.
18. Booking vacations in advance can help you save frugally
Vacations are meant for enjoyment and relaxation. But this does not mean that you should spend more money and have fun. Implement effective frugal tips to have more fun without wasting more money.
So book your room, ticket and save money. Now online services made our life so easy. So grab your phone and book vacations to avoid spending extra at the last minute booking.
19. Declutter your room and make money by selling out things that you don’t use
You don’t need to clutter your cupboard with the things that you don’t use anymore. Sell out such things and make some money out of those things.
You can also rent out things which you use rarely. In this way, you can be more frugal and save money.
20. Follow frugal grocery shopping tips to save more money every month
If you give a little bit of attention while grocery shopping then you can save a lot of money. I have shared effective tips to save money on groceries in my other blog post, you can check it out.
Once you start to follow frugal tips on groceries at the end of the month you will have extra savings with you.
21. Try to have a minimum number of pets at home and save on maintenance expenses
Pets are loveable. And they need total care and attention as a family member. But if you bring more pets to your home then your expenses will also increase.
It is good to love and care for pets. But you should also think about the expenses also. If you have more than one pet then your expenses will be more.
22. Stop impressing your friends or bae with costly gifts
You don’t need to spend a lot on money on gifts to impress anyone. The real friendship and a true relationship do not require all this.
So choose your friends wisely and be sensible. Don’t empty your pocket to fit in your friend circle.
23. Don’t burn out your pocket by having more CREDIT CARDS for SHOPPING
Nowadays credit cards are trending. But in reality, if you have more credit cards then your purchases also increase. Credit cards impact your buying behavior.
If you ask me, then I suggest not having any credit card. But if you want to have, then have only one card. Also, be careful about your buying behavior.
24. Add products to your online SHOPPING CART for 2 weeks
Well, most of the time I just add the goods to my cart and leave it for 7-15 days. This helped me to save money on shopping without plunking down my money on unnecessary purchases. I’ve realized that most of the time emotions or distractions or peer pressure are the reasons for shopping.
So it is necessary to analyze whether it is a ‘need’ or a ‘greed’ before hitting a ‘buy’ button. Trust me, when you go back to your shopping cart after 15 days you will feel like your cart is flooded with unnecessary things. Especially teenagers should learn to handle peer pressure to save more money.
25. SAVE up to 50% of your money on SHOPPING by visiting THRIFT STORES
During my college days, I always looked for thrift stores to buy second-hand books. This is how I saved around 30% to 50% of my money on books.
You can also get such thrift stores in your city that sell second-hand books, clothes or household goods. So visit such thrift stores to save more money on shopping.
What if you miss your weekly money-saving target? – NO WORRIES, HERE YOU HAVE A SOLUTION
You don’t need to worry if you miss your target on any week. First of all, you don’t need to take stress here. 52 week money saving challenge is a too long period. So it’s ok if you miss one or 2 weeks’ target. But your goal should be not to miss more than 2 weeks in the entire 52 weeks.
Also, another practical solution is- if you miss the target this week then include that in next week’s saving target. For example, if you could not save $9 on the 9th week then on the 10th week you can save a total of $19 to finish your target.
The motive of this challenge is to inculcate saving habits for a life long. So if you miss one week’s saving target then this does not mean that you are “out” from this challenge. So you have to maintain that consistency throughout 52 weeks no matter what.
Saving will not be boring anymore for you if you take this 52 week money saving challenge. So accept this challenge and ace the saving game. At the end of 52 weeks, you will be amazed at your own saving habits.