Taking the 52-week Savings Challenge

A new year and a new beginning. This is something very exciting for anyone. More than a week has passed and I have pretty much listed all the things I want to accomplish this year. Have you? I kind of like going through the list and seeing things being crossed out one by one. One of the things on my list is being able to start and maintain my own savings. Mine got pretty wiped out when I had a rocky start in freelancing and working from home. But now that I have landed a more stable client, I can finally do this.

I'm sure you've heard about the 52-week challenge. I attempted to do it last year but I failed. I tried doing it with the 50 Php increment last year. So this year, I am going to do this again, perhaps with a more realistic amount.

The concept is pretty easy. You get a container, a box or a tin can or whatever. Decide which base amount you want to start with - it can be 10, 20, 50 or 100. On the first week you set aside that base amount and then add the same amount weekly. Very easy yet the key thing there is consistency. This year I am going to start with Php 20 and hopefully I will have Php 27560 by the end of the year.

So, are you also up for the challenge?