52-Week Savings Challenge

[1Grumpy9]

So I have been seeing the 52 week savings challenge on my friends Facebook wall recently and after returning from WDW, I decided I am going to hop on board. My parents decided after staying at Fort Wilderness Campground that they want to stay at Fort Wilderness Lodge for their 50th wedding anniversary (in 4 yrs). Since I am an only child, I guess it is up to me to come up with the money to send them. I figured this was the best way to start up the savings account to send them to FWL.

Is anyone else doing this saving challenge??

 

[DawnM]

You mean the one where you put $1 in the first week, $2 in the second week, etc….?????

No, I much prefer to put in the same amount per month or week on a consistent basis. On the other thread I divided it out, I think it was just over $26/wk.

 

[Marionnette]

So I have been seeing the 52 week savings challenge on my friends Facebook wall recently and after returning from WDW, I decided I am going to hop on board. My parents decided after staying at Fort Wilderness Campground that they want to stay at Fort Wilderness Lodge for their 50th wedding anniversary (in 4 yrs). Since I am an only child, I guess it is up to me to come up with the money to send them. I figured this was the best way to start up the savings account to send them to FWL.

Is anyone else doing this saving challenge??

I'm with DawnM on this one. I'd rather have a consistent savings plan in place rather than play games with my money.

Here's a 4-year plan that I put in place for my college kids. I called it their stupid fund because anytime they did something stupid that ended up costing money, it came out of this account. Each week, I put $25 in their stupid account. Over the course of a 4-year college career, the fund would grow to $5K (more if interest rates were to increase). If the fund remained untouched, they would have a nice nest egg to begin their adult life.

So, there you go. Put $25 away every week for the next 4 years. Don't touch it and you will have plenty of money to send your parents on whatever kind of trip $5K will buy them in 2018.

 

[mckelvey72]

I do the 52 week plan but I do it backwards.....I have more money in January to save the I do in December with the holidays etc. The last 3 months of the year are crazy for us. So I started this week with putting in 52.00 and will work backwards!

Just a suggestion. Either way you have to put in over 200.00 either in January or December so decide which is best for you!!

Good Luck everyone!

 

[1Grumpy9]

No, it is a challenge that you put in money every week (week 1=$1.00, week 2=$2.00, week 3=$3.00 and so on until week 52=$52.00).

That is an interesting way of looking at it mckelvey72. That might be a way to handle it better. I did start it off with $10.00 so I am good for a couple of weeks.

 

[wiigirl]

You mean the one where you put $1 in the first week, $2 in the second week, etc….?????

No, I much prefer to put in the same amount per month or week on a consistent basis. On the other thread I divided it out, I think it was just over $26/wk.

 

[mommadeb]

I did the 52-week plan last year on top of my regular savings. It's a good way to build up to a weekly amount if you're not used to it. I'm continuing this year by putting $50/week into the account.

 

[1Grumpy9]

I am really hoping that I can continue this process for the next couple of years (to help pay for my parents trip to WDW in 4 yrs).

 

[AmberHeartsDisney]

I found this link That would be $1,378 a year or if you did it monthly $114.83.

 

[mrsheppo]

I am paid bi-weekly so I am depositing $53 a paycheck into savings. It still comes out to $1,378 at the end of the year.

 

[MEM]

So I have been seeing the 52 week savings challenge on my friends Facebook wall recently and after returning from WDW, I decided I am going to hop on board. My parents decided after staying at Fort Wilderness Campground that they want to stay at Fort Wilderness Lodge for their 50th wedding anniversary (in 4 yrs). Since I am an only child, I guess it is up to me to come up with the money to send them. I figured this was the best way to start up the savings account to send them to FWL.

Is anyone else doing this saving challenge??

Do you mean Wilderness Lodge or the Fort Wilderness cabins? There is no "Fort Wilderness Lodge"

 

[1Grumpy9]

I meant the Lodge. Both of my parents fell in love with the Lodge. We were camping at the campground and loved it there, but they wanted something special for their 50th wedding anniversary.

 

[GirlWhoWaited]

I am planning to do this in addition to my regular savings plan, only keep it in a jar on my desk, as a visual for me to refer to when I'm sitting down to do my budget each week. I kind of think of it as a fun challange but also an aoll cash 'emergency' fund. And I don't mean an emergency like to support myself for a month, but like "Oh shoot, a very unexpected vet bill" Or something to that effect. If I don't touch it for the whole year, fantastic!!

 

[descovy]

So I have been seeing the 52 week savings challenge on my friends Facebook wall recently and after returning from WDW, I decided I am going to hop on board. My parents decided after staying at Fort Wilderness Campground that they want to stay at Fort Wilderness Lodge for their 50th wedding anniversary (in 4 yrs). Since I am an only child, I guess it is up to me to come up with the money to send them. I figured this was the best way to start up the savings account to send them to FWL.

Is anyone else doing this saving challenge??

I will do it... But in a random way. I made 52 numbered envelopes. Every Friday I will pick one to put cash in. Let's just say some weeks I feel richer than others. And I don't want my most expensive weeks to be next December!

Btw... For me this is just a fun challenge. I already have a predetermined amount auto-drafted to savings for my "real savings" account. But I have a cash budget for small expenditures... So I am going to see (for fun!) how much I can set aside from my cash (blow money)

 

[KennesawNemo]

I will do it... But in a random way. I made 52 numbered envelopes. Every Friday I will pick one to put cash in. Let's just say some weeks I feel richer than others. And I don't want my most expensive weeks to be next December!

Btw... For me this is just a fun challenge. I already have a predetermined amount auto-drafted to savings for my "real savings" account. But I have a cash budget for small expenditures... So I am going to see (for fun!) how much I can set aside from my cash (blow money)

This is fun!!!!

 

[Egdisney]

I have been planning on doing this, to see if I could. My husband didn't love Disney and honestly it was difficult to get a lot done with our family of 6. My husband has given me the go ahead to take a trip alone with each of the kids. I think my magic age will be 11, as my oldest is 9. Doing this will be good for saving for the trip!

 

[drinkme]

I have been planning on doing this, to see if I could. My husband didn't love Disney and honestly it was difficult to get a lot done with our family of 6. My husband has given me the go ahead to take a trip alone with each of the kids. I think my magic age will be 11, as my oldest is 9. Doing this will be good for saving for the trip!

No. If I were you I would make the "magic age" at 9. That way, you are still paying kid prices at Disney. With 6 kids I would definitely find a way to make it as cheaply as possible.

I just started my 52 week savings. I got my $1 in my bank. The weather is so bad here that I didn't want to go out to the atm to get cash. I hunted for change to get the $1. 20 cents in pennies!!! lol.

I haven't decided what I'll do with my money when I complete the challenge, but I'm going to do something fun with it.

 

[NYCDiane]

I plan on doing a few "touristy" things in NYC during Christmastime with some of the money. With the rest, I am going to hit the after-Christmas sales BIG TIME!!!!

 

[Aryn]

We have also started the challenge. First dollar in the bank! We have not decided what we are going to do with the money yet, but it will be for a vacation of some kind.
We save already in 401K and Roth and stocks, so this money is purely for fun

 

[pezheadmeg]

Just printed out my grid to do it for the year. I take out a certain amount of cash each week, anything left over is going into the jar.

I figured I'll alternate between higher and lower amounts. Every few months the cash will go into the separate savings account that is not linked to my ATM card.