Are People Still Talking About the 52 Week Savings Challenge?

It’s June and two days I ago I put $21 into the jar I’m using for the 52 weeks saving challenge and I wondered “Is anyone else still doing this other than me and my two friends?” Chances are a lot of people that were all gung-ho about this challenge in January have fallen off the bandwagon already. If you don’t know what the challenge is about, you must have been living under a rock in Bikini Bottom because this was plastered everywhere. Just in case you were this challenge is basically save the amount of money for the corresponding week e.g Week 1 = $1, Week 2= $2 and so on and so forth. At the end of the 52 weeks, you would have saved $1378.

There were some who criticised it saying it was silly and did not teach real saving, but honestly if you’re not a big saver, it helps to take baby steps. The total amount at the end of year is nothing earth shattering but it will probably be more than that person would have saved if they did not participate.

Other critics mentioned how many people would not last and I can’t argue with them there because we all know how people are in January, when they’re on that “new year, new me” high. Then February comes and people just settle back into their same old routine.

What does this challenge teach me?

Determination – I’m determined to save that $1,378. I set a goal at the beginning at year and I intend to see it through.

Perseverance – Regardless of what happens each week I make sure I put that money in the jar.

Saving Money is Fun – I always saved money but the challenge helps make it fun by turning it into a game.

For now I try to save my allowance money and what I can from my transportation expense to put in the jar, but since I am now in the 20s and my allowance is $20,  I will have to start taking it directly out of the bank. I have saved $231 so far with this challenge and I more than likely would have spent that money on trivial things and would not have missed it, so it doesn’t hurt to save it.

Did you start the 52 weeks challenge? Are you still doing it? If you aren’t, why not?