12-Week Money Challenge
Everyone enjoys a challenge, particularly if it can help them save money. The 12-week plan is less popular than the year-long plan, because it requires more discipline and larger amounts of money to be saved each week. If you are able to pull off this savings plan though, it is a great way to get $1,000 in your savings account in a short period of time.
12-Week Money Challenge
Saving $1,000 is no small feat and doing so in 12 weeks is even more of a triumph. This challenge can be used to achieve a short-term goal, whether it is saving for vacation, increasing your savings or anything else. The challenge will require you to save at least $60 per week. You start by saving $60 the first week. Then you save $75 the next week, then $95 the following week, and finally $100 the fourth. You save $65 in week five, then $75, $95, and $100. You then save in that pattern for four more weeks and you’ve completed the challenge.
Photo: How Does She
How to Successfully Do The 12-Week Money Challenge
When you look at this savings challenge you may be thinking “how can I save $100 in one week or even $65?” It is possible! You should review your budget and see where you can make cuts over the next twelve weeks. Here are some things you can cut or try to save $1,000 over 12 weeks. You’ll be surprised at how much you can save by not using the Drive-Thru on Friday nights or eating out. Have a garage sale every week for 12 weeks. Go through your closets. Spend less on pampering and other unnecessary expenses. Skip the expense of getting your nails done each week if you do it every week. This will save you a lot of money. Stay at home to enjoy your entertainment instead of going out. Find a cheap or free hobby. Find something to do if you enjoy shopping. You could go on walks, visit local parks or join a book group. This 12-week plan will help you achieve your goal of saving $1,000 in a short period of time. It is more aggressive than either the 365 Day Money Challenge (or 52 Week Money Challenge), but it works to help people save money and take a closer look at their finances in a 12-week period. There are many ways to make money quickly and easily. While the majority of people who participate in this challenge do so by saving money from their salary, there are other options. Take Surveys: Traditionally, taking surveys has been an effort-intensive and low-return proposition. However, there are some apps that offer a good return. These are Prolific and 1Q. 1Q offers the best survey rate of 25 cents per answer. Prolific offers fewer surveys, but pays less. You can find 1Q here and Prolific here. Get A Part-Time Job
: The gig economy is gaining popularity in America. You can save money by working part-time jobs like filling DoorDash order, walking dogs or driving for Uber. In recent years, several companies have begun to make use of this. SavvyConnect is a legitimate company that pays you for your information. These corporations aggregate your data with that of thousands of others and then sell it to marketers. All of them will pay you $5 per month to collect your data. This will help you save more money during those weeks when you need to. This should help you get across the finish line on weeks when you need to save more.
Lastly, if you have taken the 12 month challenge or have any other saving idea, please leave us a comment below.
Acknowledgements
- Photo: Flickr: 401(K) 2012
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