In case you missed it, it is already Week 1 of the 52 Weeks Money Challenge.
This time my husband and I are a little ambitious with regards to the challenge. We have successfully completed last year saving as much as 137,800 with the 100 increment. We have been battling whether to take the 200 increment or the 500 increment. But then again when we somehow strategize exactly how much to save for the year, we would want to attain 500,000 savings more and above. And the increment that can deliver just that would be 500. If we are to consistently do the challenge after 52 weeks we will be getting as much as 689,000. That would be way over and above our saving goal for the year.
I adjusted our money template to add checkboxes so I can just tick off the week that we are done saving. You can also do the same by adding the Developer Macro of your Excel sheet and you can insert ActivX Controls where you can find the checkboxes. In case you would want this template already, send me a PM or comment below with your email so I can send this ready template to you.
My husband and I also managed to answer the mechanics that would make our 52 Weeks Money Challenge more interesting and keep us motivated.
Goal. Our goal is to be able to add 500,000 more to our current savings. We are hoping to use this money to fund future investments.
Piggy bank. Since this might increase a lot over time, we will see to it to move our saved money to our bank periodically. We might store a few weeks worth of savings first to our trusted can for the meantime.
Involve another one. Yes I am involving my husband to this challenge to make it more exciting. We have decided to contribute equally to the amount per week so that the higher amounts will be lighter on our shoulders.
Template. Here’s the 500 increment template with checklist. And we have checked already Week 1.
I hope the 52 Weeks Money Challenge will be as successful as 2018. Are you doing the challenge too? Let me know.
P.S To those doing the 52 Week Money Challenge, it is Week 1 already! Did you deposit the next amount yet?
P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.
P.P.P.S I am also sharing my stock market secrets and information via these resources.