10 Great Great 52 Week Money Challenge Alternatives

November 22, 2024 Editorial Staff 266 Views 0 Comments

It’s the time of year where people look to improve their financial situation as part of New Year’s Resolutions. Many people decide to improve their finances by taking the 52-week money challenge. This may not work for everyone. Here are 10 52 week money challenges alternatives. How the 52 Week Challenge Works

This challenge is an easy and effective way to make money. You only need to save $1 for each week of the year. You could save $1 during the first week. You would then save $2 during the second week and $3 in the third. Continue this each week until you reach the final week, when you will save $52. By doing this each week, at the end of the year you will save $1,378.

The challenge is here if you want to give it a try.

Limitations of the Challenge

While the classic challenge can help a lot of people save money, there are some limitations to it. This challenge is not always suitable for everyone’s finances. There are ten alternatives to the 52 week money challenge that you can consider. Below you’ll find ten alternatives to the 52 week money challenge to consider.

Click on the headlines for more details about each challenge and to print that specific challenge sheet.

1) Modified 52 Week Money Challenge

The modified 52 week money challenge allows you to choose how much you save each week from $1 to $52. You can select any amount on your chart instead of following the order $1-$52. This modified challenge allows you to be more flexible, as it is difficult to predict which week you won’t be able to save the amount you hoped. The goals should always be to save the highest amount on your chart, but if you can’t for whatever reason, you can substitute it for a smaller amount.

2) 26 Bi-Weekly Money Challenge

Some people get paid bi-weekly and find it easier to save the money for the challenge when they get paid, rather than each week. Some people find it difficult to save money for the challenge in week 2, after being paid. If you get paid bi-weekly, the twice a month money challenge is a good option. You can also try the twice a month money challenge if you get paid this way rather than bi-weekly.

3) Monthly Money Challenge

Much like the issue that people who get paid bi-weekly have, those who get paid monthly also can find it difficult to save the money the week before they’re paid. It is easier for many to pay the entire month at once when they are paid. Pay yourself first because you won’t miss anything that isn’t visible.

4). Double 52 Week Money challenge

For people who are looking for a more challenging challenge than just $1 per week, the 52-week double challenge may be the right choice. This challenge doubles all numbers, so you’ll end the year with $2,756 rather than $1,378. This is a good challenge for people who want to push their savings to the limit. The mega challenge aims for $5 per week instead of $1. For those able to complete the mega challenge, they will find an extra $6,890 in their bank account at the end of the year.

6) 52 Week Mini Money Challenge

Also called the 52 week half challenge, this one uses $0.50 each week instead of $1. It’s easier to save money this way, but you will end up with less at the end ($674 instead $1,378). For those who want to take the challenge, but start a bit slower, this can be the perfect alternative.

7) 52 Week Coin Challenge

On the opposite end of the double and mega challenges is the 52 week change challenge. This challenge requires you to save a certain number of coins each week. In the first week, you will save one coin. In the 52nd week, you will save 52 coins. You can also save specific coins during the year, such as pennies, nickels and dimes. The 52 Week Bill challenge uses bills in place of coins. The 52 week bill challenge is similar to the coin challenge, but uses bills instead. In the first, you can save one bill ($1, $2, $5 $10, $20 $50 or $100), in week two, two bills, and in week fifty-two, a total of 52 bills. In this challenge you would save a minimum of $1,378 (if you only used $1 bills), but it could be much more depending on the bill denominations you save each week.

9) 365 Day Money Challenge

Some people find that in order to save money, they need to do it on a daily rather than weekly basis. The 365-day money challenge is a good option for those who are looking to establish saving money as a habit in 2019. In this challenge, you begin with a penny on day one and end with $3.65 on day 365.

10) Create Your Own 52 Week Money Challenge

None of the above money challenges meet exactly what you’re looking for? This is not a problem. Create your own specific challenge. You know yourself better than anyone else, so you’ll have the best chance of completing it. Savings habits are important

When completing these challenges, you should remember that the amount of money you choose to save isn’t as important as the habit you create of consistently saving. After forming this habit, you can increase your savings to suit your current financial circumstances. Consider automating your savings

The 52-week savings challenge or its alternatives can be used to actively manage your savings. You can save money both actively and passively if you want to. Select one of these challenges and then supplement your savings by using an automated “fire and forget approach”. This automated approach can be implemented by using an automated saving app such as Rocket Money or Windfalls AI. Windfalls is popular because you only need to sign up, and the program will look over your bills. Then it goes and automatically negotiates/renegotiates your bills and passes the savings on to you. The surplus can be used to save for one of these challenges. Windfalls can be found here. Need Money to Save? If you want to do all these 52-week money challenge alternatives, then you will need some extra cash. Here are some suggestions that may help you if you find yourself in a similar situation. These ideas are low-cost and low-time commitment. They work. Take Surveys

: Most surveys are not worth the time spent to complete them. There are some survey apps which are an exception. The best app is 1Q. It pays 25 cents for each question. This is ten times more than other apps. Skip Swagbucks and Survey Junkie, their ROI is low. Sell Your Data:

You data has economic value. Data is used by marketers to target their advertising and sales. Your social media data, your browsing history, and your spending habits all have value. Although the value isn’t great, it is almost entirely passive.

Read these for more great savings challenges:

The 365 Day Money Challenge – The Classic Article That Started It All

Take the 365 Day Dime Challenge – And Save $6,679.50

Money challenges for kids are also a thing.

For more great savings challenges, read these