Challenge SAVE MONEY in 52 weeks, anyone can do it!

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Do you find yourself struggling to save money? Actually, this is not your own problem. A recent survey showed that 62% of Americans have less than $ 1,000 ~ 22 million VND in savings .

Of course, all of us have too many things to use money like buying a house, a car or even holidays with the family. However, saving money will help you feel more secure when something unexpected happens and you need to have " immediate " money.

Is there a simple and easy way to help you develop a habit of saving money? Don't worry, apply the 52-week money saving challenge below!

52-week money saving challenge?

The 52-week money-saving challenge - a new concept that has emerged recently and is becoming increasingly popular. This idea of ​​saving means you should focus on every week, starting with a small amount of money, then gradually increasing your savings on a weekly basis. By doing so you will no longer feel pressured every time you have to take a big income each month to save. This is what makes this method widely used by many people. Surely you will feel great when applying it. This challenge is as follows:

Start by saving a sum of money each week, the first week starts at 20,000 VND, the second week is 40,000 VND, the 3rd week is 60,000 VND . so on week 52 you will have 27,560. 000 VND . That's great, isn't it!

Pros and cons of this method

The biggest advantage of this method is that anyone can do it . This will become feasible and can adapt to your financial ability. For example, you can reverse the savings process by saving VND 1,040,000 in the first week and VND 20,000 for the last week. This would be appropriate for someone who is worried about spending more than 1 million in the last months of the year.

Of course, you can also randomly choose the amount of savings each week , sometimes more, sometimes less. Either way, you can save the money you need.

If you have difficulty using cash, create a different bank account with the system, then transfer it to this account as usual. Banking transactions with the system will not cost transactions.

Want to apply for a 52-week money challenge? Here's how to get started.

Whether it's holiday savings, a mortgage loan or a monthly or yearly bill, starting this challenge will help you make the most of your money.

Photo source: Webtretho

Write out

Write or print out a list every week and about how much you need to save. It as a reference will help you see your progress. Remember to mark each week and the amount you saved.

Set up reminders

When you start saving a few weeks, you can easily forget that savings. To ensure proper execution, you should set up weekly reminders on your phone or desktop computer to be able to track weekly.

Keep your savings calendar in a position you can see every day. In addition, you can also set up automatic transfers on online banking systems so you don't have to worry about them.

Make a list of ways you can save

There are hundreds of ways to save money. The first few weeks can be easily done because the amount is quite small but when it comes to the weeks where it takes 800,000 VND to 1,000,000 VND, it is quite difficult. However, that doesn't mean it's impossible.

Think about ways to cut costs or save money, such as:

1. Sell ​​furniture that you no longer use
2. Get new things but don't use them as gifts instead of buying new ones
3. Cycling instead of motorbikes to save gas
4. Take the bus
5. Cook lots of food and leave the fridge to eat the next time
6. Turn off lights / fans / computers when no longer in use.
7. Buy items of popular brands instead of expensive brands
8. Cook instead of eating or buying food

Once you have a specific list of things to do to save, you can estimate the amount you need to spend on those items. At that time, you will have the money you need. For example, if you go out to eat, it can take about 30,000 VND - 100,000 VND / meal but when cooking at home you can save 300,000 VND - 500,000 VND / week.

See also: 55 ways to save money effectively can not be ignored

Compete

Why not with someone to make this challenge, friends or family members? Someone encourages you to motivate you and follow you. Choosing the challenge to save the most money will help you choose the location for the upcoming trip, for example.

Step by step implementation

The important thing of this 52-week saving challenge is to encourage you to save. Of course, saving is still more than not saving, right?

This method will encourage you to save. Remember, these are small steps that lead to great progress and success. Don't feel depressed if you can't accomplish the goal of a certain week, as long as you're ready to come up with a strategy that is good. Please keep a positive perspective and wish you success!

See also: Financial management method "6 jars" JARS