My 52 Week Savings Plan

The 52 Week Savings Plan

As many of you might have seen, there is a 52 Week Savings Plan Challenge going on around the web with a chart like this one below.

52 Week Savings Plan

Click here to see my updated 52 Week Savings Plan Chart. With error on line 49 corrected.

How it works: Each week of the year, you set aside the amount equal to the week #. Example: Week 1 you set aside a ($1), week 2 ($2), week 3 ($3) and so on. By the end of the year if you follow the chart above you will have $1,378.00. Wow! What an easy and fun way to save money. 

I would like to add a suggestion to this plan. On weeks you have extra money in your budget, set aside more than what is required throughout the year and you will save even more. 

I am taking this challenge and have already started my 52 Week Savings Plan. I also showed it to my 12-year-old son and he has taken the challenge too. His goal is to save for a car before he turns 16 and my savings will be used for Christmas shopping.

I’m not sure who to source with this idea, so feel free to let me know if you have any idea where it originated.

Will you take the 52 Week Savings Plan Challenge?

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  1. I think that this is a great idea! However, let’s be realistic, it will depend on the income! Just make a goal of saving money ~ that is the ultimate goal! Don’t make it so much about doubling, but about being consistent in the saving. These days who doesn’t want to save a little! Have a blessed day!
    Love and prayers,

  2. For younger children, why not start with a dime a week or a quarter. The end results would be proportionate and they would still see the power of savings!

  3. I am starting this. I printed out the chart, but am doing it a little different. I am going from the last week to the first week, to the next to last week, to the second week. This way one week is heavy and one week is light. I am also putting a little more than the minum in the lighter weeks. To keep track of the weeks I am highlighting the week as soon as it is done.

  4. I love the idea but I have a suggestion. I would jump back and forth from week 1 to 52, 2 to 51 and so on because those last few months are very expensive if you don’t :)

  5. My husband and I are doing this to save up for our 10 year anniversary, which is 2 1/2 years away. I’m making a slight change though. We don’t usually carry cash around so I figured out how much would be for a whole month and then transfer it into a savings account after we get paid.

  6. this will only work for people who have a more than average income , who can afford to put the later months away , and thats not the majority , so not a realistic plan for most. sounds fun and interesting to do.

    • Yes it will depend on your budget. Someone could put away $26.50 a week and come up with the same amount at the end of the year. Or they could set another end of the year goal.

  7. I think this is a great idea to save for Christmas next year. I save a regular amount each pay period but if you can save a little bit more it always helps, It’s a challage if nothing else to see if you can do it for a full year.

  8. I don’t think this is a good idea at all and it just sets you up for failure. Especially if you are encouraging kids to take part. Do you realize that in month 12 you will have to put $202 away? How many kids can actually be expected to come up with $202 in one month? And depending on what day of the week you choose (Sat or Sun), November could be $230 dollars!

    I think this plan only seems clever because we see that $1 starting amount and think… “Oh how easy”. I think it is far more realistic to put $26.50 away every week (to get to $1,378 in 52 weeks). Make it an automatic deduction or transfer and forget about it. You won’t miss it, you won’t think about it.

    Those of you planning on going backwards might have a shot at least. Good luck to you all! Please come back and prove me wrong!

    PS The idea of saving small amounts weekly to kickstart your savings is a good idea. But if you get bogged down at some point, just stop increasing the amount for awhile (put the chart away, but don’t give up altogether). Work your way up to $25 a week (or whatever) and stay there awhile. Next time you get a raise, or cut something else out of your budget, bump it up again. Don’t let some silly chart discourage you!

    • I think it all depends on an individuals budget. As you know everyone’s income is different so I think you just have to assess whether this is a savings plan that will work for that you. Good luck with whatever savings plan you choose.

    • I believe the last deposit of the year according to the chart is $52. That is the largest deposit. Like the start backwards idea, also maybe use the first year as an emergency fund of $1000 as Dave Ramsey recommends.

    • This is awesome. I think for kids they may not put as much but if they put something that would still be great!

    • It is understandable; even as a recent graduate with a salary it would extremely difficult to have an extra $200/month (I just have $25/month automatically taken from my checking into my savings), but–big picture–you already have over $1,000 saved. That’s impressive on its own. So putting away whatever you can at that point gets you a similar number that hurts less. It’s a solid plan, in my opinion.

  9. It’s a great idea. I would suggest putting in the same set amount of money each time you are paid. If you’re paid biweekly, add in the extra amount, if any, from your third check in a month.

  10. great idea ! We will use the money to adopt 2 military families at Christmas. Hopefully make there holidays a littlie brighter . If your interested in doing something like this , check with your state National Guard or local armory.

  11. I absolutely love this idea. Sine I have an extra pay in January I might start in reverse and put in more when I can. Going to get my daughter to take the challenge since she was amazed that a piggy bank I bought for her (lol) I filled with loose change at the end of each week and cashed in for $130.00. Mind you dipping in for car washes and such. Would be nice at the end of the year to get some interest but savings accounts don’t offer much. Any suggestions?

    • If you’re interested in earning interest on your money I would suggest speaking with a financial advisor. I myself have a regular savings account but there are many options and ways to invest. Your bank should be able to help advice you.

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  13. Just suggestion….. If you make the first week of November or even October be your week #1 then you would have the money saved just in time for Christmas and not have the “heavy” weeks in December.

  14. When I was 12 I was paying $500.00 a month in “rent” to help support my family :) I made a ton of money baby sitting and making and selling crafts. I wish someone had taught me about saving and compounded interest because now, at 45 I would be a millionaire! :) I’m definitely taking this challenge! Thanks for sharing Kim!

    • Your welcome! I would also like to encourage you and anyone else reading this to follow your dreams. This website has been a dream of mine for years but only finally took the first steps into making it a reality a couple of years ago. At first it was very very slow. No traffic at all then things began to pick up. And because of my dream I am able to work from home. It’s tight at times, but living a frugal life has helped me in making my dreams come true!

  15. I like this plan but I’m doing it in reverse because I have more to save at the beginning of the year than the end. :) this will also be my Christmas money for next year.

  16. What 12 year old has $30/$40/$50 a week to put into savings…or anything else for that matter!! My 12 year old sure doesn’t…she might do okay the first few weeks but she sure wouldn’t make it through the year!!!! Wow!!

    • I guess I should update my blog post since my son just turned 13. He works part-time every week and makes more than enough to set aside money each week in a savings plan. He has learned to save his money because I have taught him to be frugal and save for a rainy day.

    • Its great thought and learning exercise. Develop a similar savings plan that is realistic for your 12 year old. What about allowances and chores? What about mowing lawns, shoveling snow or lemonade stands? When I was 10 I had a paper route and this savings plan was more than reasonable. Wow, right?

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  18. This plan is too heavy on the back-end for a lot of beginning savers. During the weeks of Thanksgiving thru Christmas they would be putting the most money away, but that’s when people are most likely to use it on unexpected things and blow thru it. A lot of new savers would be better off to put away $52 first, then $1, then $51, then $2, then $50 and so on. That way, they won’t be hit with huge back-to-back weeks as the year goes on. And in lighter weeks, beginning savers will hopefully begin to realize they will need to put some in reserve that week so the following week’s savings isn’t such a big hit. That’s the behavior that needs to be learned and reinforced and staggering like that does it better than in slow increments. But any savings is better than none, no matter how you do it! This is merely a suggested improvement to an already good idea!!

  19. Great idea, I see the corrected total to be 1225.00
    Isn’t that interesting Christmas is 12/25 – for those of you thinking about saving for Christmas….I think there is a message there….the money saved is a gift you give away.

  20. This is an awesome idea….I will b trying this. I’m also thinking backwards would b better especially like someone said. Got a little Christmas money now. N would would love for my son to hr interested in doing this to. We will c

  21. I think Im going to do this only backwards. Ill start at 52 dollars and work my way down. That way Im putting in the least amount in Nov ( all my family birthdays) and Dec ( holidays).

  22. This sounds interesting enough to give it a try, I already save all my loose change form the day, the thing that’s interesting about this is to see if I can do it without having to dip in to the savings for an emergency.

  23. If you can afford $50 a week in Dec why not just put $50 a week in the first place then you will have $2600 plus interest in the account at year end. But I can tell you the interest in the chart is WAY over estimated

  24. If you can afford $50 a week in Dec why not just put $50 a week in the first place then you will have $2600 plus interest in the account at year end

    • My son has a part-time job working. He makes more than enough to save the money thank goodness. Plus he gets paid to help with my website. By the way it’s by the week. Week 1 $1, Week 2 $2 and so forth.

  25. May I suggest doing this backwards. Start at week 52 and work your way back to 1. If you start this at the new year your more app to have more money after Christmas then right before.

  26. Anything to promote savings is a great idea. Please note there is a math error in the chart on week 50. 1125.00 + 50.00 = 1175.00 not 1275.00, so the total is off by $100.00

  27. This is a good idea for my 16 year old for her to save for a car…I will add for the same amount to double Her savings…combined with Her check, she should have Her own wheels soooon…:)

  28. Love this idea…I am gonna try it but I am gonna go backwards with it, that way during the holidays I’m not having to put so much aside….so week 1 I’m gonna put $52 and by wk 52 I’ll only have to put a $1

  29. I like this idea. I was thinking that i may reverse this and start with week 52 and work my way down since it will be easier to pay less towards the end of the year when the holidays tend to bottom out our accounts. lol Not to mention the additional interest it would acquire.

  30. The basis is from the Rule of 72 for simple compound interest. To make the best use and return then put the money into an interest bearing savings account or Christmas club account. Look up Rule of 72 on the internet to get a better understanding of how it works. Unfortunately interest rates today are pretty low, but if you really want to apply this simple savings plan then you should do it and let the savings account add some money to your investment. It does work very nicely if you have the will power to stick to your plan.

  31. We are starting this challenge for 2014.
    Helpful things:
    I have an Accountabilty Buddy. Printed the chart out, it’s on a large manila envelope.
    Opened a special savings acct at a different bank. My money will go in there. Some people do this with cash…I won’t. Too many things come up.
    I’m trying for $25 a week while things are stable. That way it’s close to the average I need to be on track.
    So far $60 in my acct. I feel good about that.
    Looking forward to having nice savings by 2014 yearend.
    Pay yourself first…no one else will.


  33. Thats a pretty cool plan. We have an automatic $100 transfer set up each month. And because its already spoken for in our budget, we rarely miss it. :)