52 Week Saving Challenge

I believe most of you have seen this post from Kuripot Pinay’s blog¬†about the 52 weeks saving challenge that went viral on Facebook. The idea is simple. All you have to do is to save Php 50 for the first week of the year and add the same amount for the next 51 weeks and you will be Php68,900 richer at the end of the year.

50s increment

It may seem easy to save Php50 during the first few weeks, but you may notice starting week 40 you have to save at least Php2,000! But for those, who would like to take baby steps in their savings, you may consider saving Php5 or Php10 or Php20 for the first week.

5s increment

10s increment

20s increment

Accepting this challenge may affect your lifestyle in some ways. Instead of eating out, why not bring packed lunch. Or you may think of having another source of income. Be it a business or an online job that will motivate you to save and save. 

After all, what matters most is the habit of saving regularly and being committed to your goal. And also, the reward of saving at the end of this challenge. So, challenge accepted? Lets do it this 2014!