How to Participate in the 52 Week Money Challenge
Designate a specific place where you can securely store a growing amount of money each week., Determine how you will deposit the dollar amount each week., Put away one dollar into the fund on New Year's Day., One week later, put away two dollars...
Step-by-Step Guide
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Step 1: Designate a specific place where you can securely store a growing amount of money each week.
Ideally, you should open a fund through your bank account for this purpose, but something like a large jar or even a piggy bank can suffice. -
Step 2: Determine how you will deposit the dollar amount each week.
You can instruct your bank to automatically deduct this amount from your checking account every week for the next 52 weeks, so that everything is automatically and electronically managed. , This relates to Week 1 of the new year, so you start with $1.00. , Now, every subsequent week, deposit $3.00, $4.00, $5.00 and so on, respectively. , Monitoring it regularly will help ensure you don't miss a week, get off track, or spend it prematurely. , You should have a balance of roughly $1,378.00 saved up,—more if you get creative and "hack" the challenge to save even more each week. -
Step 3: Put away one dollar into the fund on New Year's Day.
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Step 4: One week later
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Step 5: put away two dollars into the fund for Week 2.
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Step 6: Keep an eye on your fund.
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Step 7: Check your fund the next New Year's Day
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Step 8: approximately 52 weeks later.
Detailed Guide
Ideally, you should open a fund through your bank account for this purpose, but something like a large jar or even a piggy bank can suffice.
You can instruct your bank to automatically deduct this amount from your checking account every week for the next 52 weeks, so that everything is automatically and electronically managed. , This relates to Week 1 of the new year, so you start with $1.00. , Now, every subsequent week, deposit $3.00, $4.00, $5.00 and so on, respectively. , Monitoring it regularly will help ensure you don't miss a week, get off track, or spend it prematurely. , You should have a balance of roughly $1,378.00 saved up,—more if you get creative and "hack" the challenge to save even more each week.
About the Author
Charles Hernandez
Brings years of experience writing about home improvement and related subjects.
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