Having received some fair feedback on my savings related blogpost, here's a challenge which may still be unfamiliar to newbie savers. This is a bit hardcore I'd say compared to the 3% savings approach I talked about earlier. Here's the 52 Week Money Savings Challenge for you!!
It is quite straight forward savings approach with a little mathematics of course --> starting at 52 on the 1st week, the double of that amount (adding 52) is the amount you will be saving the next week and so on and so forth; if that is confusing just see the image and you'll get it. This has been around for quite some time (almost a year?) and yes, I just wanted to share and document my participation in this challenge; ahh I failed my first and second attempt so here I am again and I'm struggling! Damn you#52WeekMoneySavingsChallenge!
It's as if the Universe is telling me, you want money/better financial status for 2016? Here's a plan to get you that money. It is a form of challenge because IT IS CHALLENGING!
I had a question when I looked at this the first time; I think it is very feasible towards the end of the year due to bonuses and whatknot, but what if, we reversed this? You know, just to make it interesting and that by the end of the year, you'll have more money to spend than saving? Talk about extreme delayed gratification!
Let the 52 Week Money Savings Challenge Begin again! Happy Saving! #OhTheIrony