Okay, so it is very safe to say I have been terrible at keeping you up to date on this challenge. The truth is, I find it confusing to remember what week I am on sometimes. I don’t have the chart in front of me, and I think I may need to write down what each week is on the calendar.
However, this week on Friday (or Thursday-depends on your pay day) we should all be up to $55 dollars in our savings account and adding $11. So, despite forgetting we are up to $60 in our 52 week challenge savings and will be adding $11 on the 22nd.
I am going to continue doing this challenge through the end of the year, but my honest opinion is that saving would be easier, more efficient, and more yielding, if we were to set up direct deposit of 5 or 6% of our paycheck each week.
For example, if we made $600 a week, it would be easy enough to set up direct deposit of 6% and in return we would be adding $36 a week. Or $144/$180 a month (based on four or five week month) That is a whopping $1,872 in comparison to $1,378 and you didn’t even have to remember or lift a finger. That’s a difference of $494. And we aren’t even considering over time, bonuses, or raises!
Anyways, this program (52 week challenge) is great for newbies to saving, or those looking to get better at it/save for a trip/special treat etc . I recommend trying it for yourself and seeing what you think of it. Feel free to give your thoughts in the comments below, or send me a message.
Don’t forget to save your $11 this week!!