52-Week Money Challenge – In Reverse

Posted by in Articles, personal finance | 6 comments

52-Week Money Challenge – In Reverse

This quarter, I have a few very specific goals to accomplish by March 31st. For me, it makes more sense to have smaller, achievable goals that I can stick with in smaller increments of time. One of my goals is to save an additional $600 this quarter. Using Jeff Rose’s 52-week challenge, where each week you save $1, then $2 and so on until you are at week 52 saving $52 for the week works for me…but in reverse.

Instead of starting off with the easier method saving one-dollar the first week, I deposited $52 the last week of December/first week of January. Last week, I made my $51 deposit and this week I’ll deposit $50. It’s harder up front, but gets easier as time marches on. Just like many people with resolutions to save money, lose weight, or spend more time doing something, you start off like gang-busters, but then slowly peter out as the year progresses. The 52-week challenge in reverse sort of fits this mindset – start off strong, then slack off as the weeks go by, yet still meet your end goal.

52-week savings challenge (in reverse) for January

52-week savings challenge (in reverse) for January

Now, I’m not saying that this is the best strategy – it’s just a better strategy for me. Some may argue that by starting off saving smaller increments and slowly increasing those amounts weekly might increase the stick-to-it-ness that I’m obviously lacking. Yet the goal is still the same – boost my savings this quarter by $600.

On top of this weekly challenge, I’m also continuing to automatically deposit money into my savings accounts and mutual fund. This quarter I should be able to increase my mutual fund monthly deposit by $200, but that will be one of my second quarter goals.

Quarterly goal achievement so far:

  • Pay off $3,000 in credit card debt. Minimal progress so far, but this should be accomplished before March 31st.
  • Save an additional $600 this quarter. On track.
  • Shred 3-days a week. On track. I’ll have to post photos soon, it really does work!
  • Publish my ebook. On track. Promotion will begin before the month’s end.

I feel pretty confident in attaining my goals this year so far. I think this strategy will work for me.

How will you tackle your goals this year?


Join the conversation and post a comment.

  1. SuburbanFInance

    Good luck on your goals – cool concept. Like you, I wanted to look at writing an ebook in 2014.

  2. Tie the Money Knot

    I think your approach makes sense, in terms of starting big up front with the savings. I like it because once you get into that habit of saving more, it could seem easier to go back to it later. Ultimately, whatever works best for you is the way to go since there is not a one size fits all approach for all of us. And if this way makes the habit sticky, then that’s great!

  3. Kathleen

    What’s your eBook about?

    • Little House

      @Kathleen – It’s a couple’s and newlywed’s guide to finances. I started it about 3-years ago through posts here on my site. It was a box idea that I eventually turned into an ebook. Should be published by month’s end!

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