52 week money challenge. Is anyone else trying this?

Skeemer

I think I'm going to give this a whirl this year. I was completely unprepared for Christmas due to lack of planning. Anyone else ever try this or thinking of trying it?

https://4.bp.blogspot.com/-jnr9N4dZaKA/UquY6kxi7wI/AAAAAAAAHSM/hTjTUeF13rw/s1600/Updated+The+52+Week+Money+Challenge+Chart.jpg

littlemissmarla

I have always wanted to do this! Thanks for reminding me! I need to put an alert on my phone or something to remind me to do this each week!

Skeemer

We have some automatic savings from DH's check each week & consider that our emergency fund. I think the challenge would be fun to have money for Christmas or to just sock away in a CD. It seems like a fun idea since it builds up slowly & lets you get used to putting money away. I think the biggest trick will be not getting in it until Christmas or at least November.

nolemomma14

My mom sent this to me a couple of days ago, so we are going to do it together!

Savings is one of my resolutions and this will be a help. Working from home part time now, I need to really improve budgeting for us!

@mamalacy21‌ what is mint.com?? Sounds interesting!

[Deleted User]

I started this last year but fell off quickly, lol. I'd like to do it again but I think I might work backwards - start with $52 and end at $1 when I'm buying for Christmas and a thousand family birthdays that fall between August-December.

Actually, now that I think about it, I told DH I absolutely want to adopt a family to buy for next Christmas. I want to set aside a minimum of $500 for it so this might be a good way to reach that goal (and hopefully more).

mrscutforth

I may try this. DH gives me a certain amount every 2 weeks.

I could do $50 for each time I get 'paid'. Saving $100/month.

Skeemer

I like the idea of doing it backwards (That's what she said!) because of things getting tighter around Christmas. DH's overtime is drying up so it may not be feasible for me to do it that way. I read where someone just chooses an amount based on their income that week & marks it off. Works the same as long as you complete the 52 weeks.

darkangel42

JUST DELETE MY CONTENT

Skeemer

So far I've put in $5 for two weeks. My strategy is to be pleasantly surprised at the end because I did more some weeks.

I amuse easily these days.

melissaquinn106

mamalacy21 said:

I just converting our budgeting system to mint.com as one of my resolutions.

We made decent progress on our savings and loans despite having two major unexpected financial difficulties come up.

I hope it helps DH be more involved in our budgeting and see how the bills are distributed. He has commented that I take all his money, but if I didn't we would have been in big trouble when my car broke down! K

I use Mint.com too! I love it and it really keeps me on top of the finances each month. I seriously don't know where I'd be without it!!

Kimmi1982

Yes!! We are starting this this year. Probably doing it in reverse, like most people, the end of the year gets tight financially so I'd rather put in less. Hoping to throw in an extra $5 or $10 each pay period or more if possible too. Id love to have a nice cushy Christmas fund this year!

lamarei

We started in November so we will have the money saved before Black Friday. I think it's doable. You can also just put back 25 a week for a year and accomplish the same thing I like consistent budgeting.

Skeemer

lamarei said:

We started in November so we will have the money saved before Black Friday. I think it's doable. You can also just put back 25 a week for a year and accomplish the same thing I like consistent budgeting.

We have a set amount already going to our regular savings but we're trying thisjust for fun & to seewhat happens. Hopefully we wont cave in the spring & dig into it bc we REALLY want to take DS to Dollywood.