Three Ways to Make the 52 Week Savings Challenge Work for You. Give yourself the gift of savings - start your challenge now!

Are you looking to give your savings a serious boost this year? The 52-Week Savings Challenge might just be what you need. It's a simple yet powerful way to get your savings on track. The best part is that it's doable, no matter where you are in your financial journey. Whether you're saving for a dream vacation, building an emergency fund, or want to up your savings game, these tips are practical, flexible, and, most importantly, effective. 

How much should you save? While there are many suggestions, it depends entirely on your overall expenses. Families should aim to have three to six months of living expenses as a minimum emergency savings fund. Don't be overwhelmed by this number. Follow our 52-Week Savings Challenge to take the first step towards achieving your goal while building healthy savings habits that will last a lifetime. Get ready to turn small, weekly savings into big results at the end of 52 weeks!


person downloading free 52 week money challenge template


You could save an extra $1,378!

If you’re always looking for ways to save, the “52 Week Savings Challenge” is right up your alley. Here’s how it works.

The challenge demands you save a specific amount weekly (hence, the number 52). The catch is the number of dollars you put away weekly will change from week to week. There are three ways to complete this challenge:


1). Counting Up by Ones

Here's the traditional way to do the challenge. You’ll start with Week 1, saving $1. On each subsequent week, you’ll save one additional dollar. So, on Week 2, you’ll save $2; on Week 3, you’ll save $3; and so on, until you reach $52 on Week 52.

2). Counting Down by Ones

The second way to complete this challenge is similar to the first option, but you'll be headed in the opposite direction. It's a good option if you want to feel like your savings endeavor is getting easier as the year progresses. 

You'll begin with $52 on Week 1, and then on Week 2, you'll reduce this number by one dollar (to $51). On Week 3, you'll save $50; on Week 4, you'll save $49; and so on, until you reach $1 on Week 52.

3). Counting Up Evens by Twos, Then Down Odds by Twos

The third way is trickier. You'll be alternating between even-numbered savings amounts for the first half of the year and odd-numbered savings amounts for the latter half. The pattern will go like this:

Week 1: $2
Week 2: $4
Week 3: $6

Until you get to $52 at week 26.

Week 27: $51
Week 28: $49
Week 29: $47

Until you get to $1 on week 52.


Helpful Tips to Make the “52 Week Savings Challenge” Even Easier

It doesn't matter when you start your challenge; at the end of the "52 Week Savings Challenge," you'll have more money in your pocket (or bank account) if you use these tips for cutting back in small ways:

  • Never underestimate the cost savings of gas from carpooling.
  • List and sell the furniture, tools, toys, clothes, and other items you don't use.
  • Take a look at your monthly subscriptions. Movies, cable, sports, radio, magazines, meal plans, clothes subscriptions, etc., can add up! Limit them or negotiate a lower monthly cost when feasible.
  • Start going to your local library for books and movies.
  • Make a grocery list and stick to it. Wandering around a grocery store's aisles allows extra snacks and non-essential items to land in the grocery cart, raising the total bill. Meal planning and creating grocery lists help to keep your budget on track.
  • Take advantage of a cash-back credit card, which gives monthly cash rewards for all purchases. Just be sure to pay the card off every month.
  • Become a coupon cutter, and sign up for rewards programs at your grocery store to save on food.
  • Of course, try the Holy Grail of savings: A monthly budget. Check out these helpful, quick-read budgeting blogs.  

Please keep in mind that if you participate in this challenge as a family, you will teach your children the importance of saving and developing healthy financial habits that will benefit them now and in the future. Even children as young as five can learn the basics of saving and sound financial practices, which will be the first step towards their financial success. If you make financial lessons enjoyable, your children will be more likely to repeat the behaviors independently.

Stay motivated and focused on the goal - think about how to use the savings for a specific purpose, such as a vacation.



Get a Jump Start on Your Challenge with $150 from Middlesex Federal!

At Middlesex Federal, we genuinely want our customers to be set up for success. When you open a new Free Checking account in a branch or online, you can earn $150 just for using your new Middlesex Federal Debit Card. It's that simple and a great way to start your 52-week challenge. If you have any questions, call, visit, email, or check us out online. After all, we're here to help.

We're always looking for new ways to help you save. If you try the "52 Week Savings Challenge," please let us know how it went. And remember to check back often for more tips and tricks on saving big for you and your family.

Back to Blog

Related Articles

Reach Your 52-Week Money Challenge Goal with these 5 Ways to Make Extra Cash

By now, you've probably heard about the popular52-Week Money Challenge that has everyone motivated...

The Heart of Giving: How to Safely Give to Charities

Those who give to charities have the biggest hearts. Unfortunately, some scammers don't, so it is...

12 Ways to Save A Lot Of Money By Changing Your Habits

The basic idea behind putting in long work-hours is that our quality of life will improve. Maybe...