52 Week Money Saving Challenge Free Printable (2024)

FAQs

How can I save $5000 with the 52-week money challenge? ›

Match each week's savings amount with the number of the week in your challenge. In other words, you'll save $1 the first week, $2 the second week, $3 the third week, and so on until you put away $52 in week 52.

The 100-envelope challenge is pretty straightforward: You take 100 envelopes, number each of them and then save the corresponding dollar amount in each envelope. For instance, you put $1 in “Envelope 1,” $2 in “Envelope 2,” and so on. By the end of 100 days, you'll have saved $5,050.

You'll end the challenge with over $1,300 saved If you successfully complete the 52-week money challenge, you'll have $1,378 set aside. You may have that earmarked for a specific financial goal —or you may choose to put it in a high-yield savings account as the start of emergency savings, if you don't already have one.

If you saved $1 a day for a year, do you know how much money you'd have? Roughly $30,000. This is totally 100% true.

All you do is start with $1 in Week One. Then every week after that you add $1 to the amount you're saving for the week. That's it! If you do this, you'll have a cool $1,378 extra in one year's time!

The 52-week savings plan

If you're new to the 52-week money challenge, the first month or so you might wonder if it will take 52 years to see progress because you start so small. But know that this savings plan is effective, and it can help you sock away more than a thousand dollars in a year — $1,378 to be exact.

It works like this: Gather 100 envelopes and number them from 1 to 100. Each day, fill up one envelope with the amount of cash corresponding to the number on the envelope. You can fill up the envelopes in order or pick them at random. After you've filled up all the envelopes, you'll have a total savings of $5,050.

To begin, a good rule to follow is the 50/30/20 method: 50% of funds go to needs, 30% wants and 20% to financial goals. Make an envelope for each category that applies: rent, utilities, phone bill, gas, groceries, emergency, savings and leisure. Put aside cash in each envelope corresponding to the amount used.

The cash envelope system, or cash stuffing, is an approach to budgeting designed to help you spend more intentionally. Envelopes used for cash stuffing contain all the money available for specific expenses each month. Cash stuffing could help you avoid credit card debt but requires a lot of physical cash on hand.

What is the envelope savings method? ›

The concept is simple: Take a few envelopes, write a specific expense category on each one — like groceries, rent or student loans — and then put the money you plan to spend on those things into the envelopes. Traditionally, people have used the envelope system on a monthly basis, using actual cash and envelopes.

Save Every $5 Bill Challenge

You simply save every single $5 bill you get. So, whenever you get change you will be hoarding those $5 bills like a chipmunk collecting nuts for winter. You can use a piggy bank or simply make a $5 challenge envelope to keep your cold hard cash in.

You can save over $5,000 in just over three months with the 100 envelope challenge. It works like this: Gather 100 envelopes and number them from 1 to 100. Each day, fill up one envelope with the amount of cash corresponding to the number on the envelope. You can fill up the envelopes in order or pick them at random.

The first step to reaching any financial goal is to break it into bite-sized pieces. If you want to save $5,000 in one year, you'll need to save approximately $417 a month. That's about $97 a week.