52 Week Savings Plan Spreadsheet

52 Week Savings Plan Spreadsheet – Some readers asked me my honest opinion about the 52-week savings challenge that has appeared in various places on the web, mainly in the United States.

Well, it seems to me an interesting concept and for that reason I think it is worth analyzing.

52 Weeks Savings Challenge
52 Weeks Savings Challenge
WHAT IS THE SAVING CHALLENGE OF THE 52 WEEKS?
The challenge of saving is a simple idea that allows to save progressively, if one follows it to the letter, about $ 14,000 pesos in a year. Nothing bad.

The original idea is to save 1 dollar in the first week of the year, 2 dollars in the second and so on. In the last week of the year (number 52) we will have to separate just 52 dollars.

To maintain simplicity, in pesos we can see it simply as 10 pesos in the first week, 20 pesos in the second and so on. So we would have to save according to what is indicated in the following table:

The 52-Week Savings Challenge
The 52-Week Savings Challenge
The intention is to start the challenge of saving is easy: at first it requires very little effort. Some chewing gums today cost more than 10 pesos, so it seems very achievable. It’s part of the appeal: start small, without sounding like something we can not do.

But the challenge of saving also calls for a greater commitment as we take up the habit. That is why the following weeks will be much more challenging than at first, but it is a matter of committing ourselves. To see that you can, and then put more effort to achieve the goal. That may make sense.

However, the increase is quite linear. For many people it is easy to save 10 pesos – even 100 pesos each week so at first it will not cost you work. However, for those same people to save already 300, 400 or 500 pesos each week – more than 2,000 a month in the last – can be a very big effort.

IS IT WORTH TO TRY THE SAVING CHALLENGE OF THE 52 WEEKS?
For people who like games and also have a hard time saving, the challenge of saving can be an interesting motivation, so I do not see why not try.

But on the other hand there will be some who prefer to make some changes, to adapt them to their own reality.

How about trying a small but steady saving – 50 pesos a month initially – and each month increasing it realistically? Or do we set ourselves the challenge of saving every week as much as we can, cutting small expenses like coffee and donut in the middle of the morning?

I do not want to disqualify the challenge of saving – in the end it seems to me an interesting concept, which can work for many people but not all. If you want to try it is worth it: it never hurts to try to save.

ARE YOU GOING TO FOLLOW THE SAVING CHALLENGE DURING THIS YEAR?