The 52 Week Dollar and Quarter Challenge

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Do any of your new year resolutions have to do with saving money? Looking for a good way to accumulate some money to pay for holiday purchases, pay everyday bills, take a vacation or for whatever?  Then how about trying The 52 Week $1 Dollar Challenge this year?

You start the new year in Week 1 by stashing $1 away followed by adding $1 to the week of the year, so $2 for Week 2, $3 for Week 3 and so on and so on.  If you stick to the plan, by December 31st you'll have saved up $1,378!  The challenge gets more difficult in the later months of the year as the weekly amount increases but so does your total.  Or, you can work it backwards and get the hard work out of the way in the first part of the year (Week 1 = $52, Week 2 = $51, Week 3 = $50, etc.).

Use the link in the green box to download our handy spreadsheet for tracking Dollar Challenge savings.  If you're really up for a challenge, try it with $2 or even $3.  We've provided spreadsheets for those amounts as well.

This year, we've added a Challenge for the kids too.  We're calling it the Quarter Challenge.  It's the same concept and rules as the Dollar Challenge but you use Quarters.  This could be a great way to teach children the value of saving and can be used in conjunction with weekly allowances or however you feel best to reward them with the Quarters.  We suggest getting a large enough piggy bank to save all the Quarters and making an event of counting them at the end of the year.  Imagine how proud your child will be having saved $344.50 to start a bank savings account, purchase their own electronic item, help a charity, or whatever they decide to do with the money, with your guidance.

Use the link in the blue box to download our handy spreadsheet for tracking the Quarter Challenge savings.

Give it a try and happy saving!

*Be sure to click ENABLE EDITING to start using the Excel spreadsheets.