Why I Won’t Be Doing The 52 Week Money Challenge

So you’ve seen all the posts and you think ‘Wow! I’d love to save £1,378 by the end of the year!’

But this is why I won’t be doing the 52 week money challenge…

We would all love to have over £1000 of spare cash at the end of the year, and this money challenge SOUNDS good, but in reality, I don’t think it is.

If you haven’t heard of it, you save increasing amounts of money each week for 52 weeks.

Week one you put away £1, week two you put away £2, week 3 you put away £3, week 52 you put away £52…. £52?! 

I’m sorry, but if I have £52 a week disposable income, I wouldn’t really need to save!

There may be people out there that can do this and love the money challenge, if so, great! I admire you,  but this just isn’t for me – I simply couldn’t afford it.

There are some great alternatives I’ve heard which I’m going to give a try, if you want to do them together then it would be fab to know how you are doing throughout the year 🙂

  • A family member of mine collects £2 coins. She keeps them all in a jar and doesn’t really notices she’s putting them away because it’s only £2 every few days or so. She counted the jar just before Christmas and had over £900! 
  • I’ve seen the penny money challenge – it is the same concept as the above but day one you put 1p away, day two 2p and so on. You do this over 365 days and you will have saved £667.95 – Much more achievable than the original!
  • The way I save right now. Any loose change in my purse, I’ll put into a piggy bank. whether it is 97p or 5p, it all builds up over the year.
  • If you do happen to have any disposable income at the end of the week, save 2/3 of it and keep the rest for emergencies.
  • Move the decimal point – Week one save 10p, week two 20p, week 52 £5.20. You’ll have saved £137 by the end of it. – Thank you Laura 🙂
  • £26 from week 1 to week 52 would give you the same outcome of the £1-£52 one. – Thank you Ljaay 🙂
  • You could do weeks 1-26, then go backwards 26-1 so the most dearest weeks would be in the middle of the year, but £26 can be too much for some people. – Thank you Laura 🙂
  • I transfer my ‘loose change’ in my bank account into a spare account. E.g. If I have £199.57 in my bank I’d transfer 4.57 into my savings account. Adds up so quickly. – Thank you Steph 🙂

  • I saw one that started at 10p and increased by 10p a week and worded out at over 100 pound for Xmas… Sorts the food shop? I think it was like that – Thank you Maria 🙂
  • I’m going to get a money box that I can’t get into unless I smash it! And save all my change and maybe put notes into it too! I’m excited! – Thank you Louise 🙂
  • My mum puts all her silver into a jar, all of her coppers into another. Within about 2 months she had £50 kicking about in the silver and about £10 in the coppers. – Thank you Lauren 🙂
  • I have a separate bank account set up for Xmas and me and my fiancé put £40 a month for 10mnths in from our wages which we save and this covers Christmas giving us £400. I know this is not suitable for everyone but if it’s in a bank account you don’t see the money so not tempted to spend it – Thank you Carly 🙂
  • Buy a gift card with each pay check and use those gift cards for Christmas shopping – Thank you Leanne 🙂

Don’t get me wrong, I’m all for saving money but I want a realistic savings plan and one where I’m not worrying about having to find £52 spare at the year.

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  1. That is the reason I didn’t bother with this challenge I knew there is no way I would be able to do it at the end of the year, I like some of your alternative ones though much more manageable x

  2. Best friend’s sister puts 50p a week in a money box for each child…equals £25 in a year. £10 would be £500 (ideal for small families.
    I personally buy any items possible when cheap (£2.50 instead of £10 for a candle set). I also save any change except pound coins and only use them in emergencies.

  3. An idea for an easier challenge I was going to put £1 a month in a month in a pot for my 2 sons, now I am thinking putting in £12 each the first month, £11 the next and so on till december at £1 each, to go in savings account, might make it a possibility of succeeding at it for those on a really low income.

  4. Im doing this my own way. As in 10p each day increase but only to the end of each month. I.E 10p,20p,30p,40p right up (31 days in the month) £3.10 = £49.60 (30 days in the month) £3.00 = £49.70. Means a saving of £595.90 by the end of the year!

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