How to Easily Save $1,378 in 2023
2023 is finally upon us! In order to jumpstart your financial freedom journey, and start the new year off right, we’re going to share one of our favorite money resolutions that’ll leave you, and your bank account, happier at the end of the year!
The money resolution we’re talking about is… The 52 Week Money Challenge!
The 52 Week Money Challenge is a fun and easy-to-follow savings plan that’ll leave you $1,378 richer by the end of the year. Every week you’ll put away a dollar amount equal to the week of the challenge you’re on. So, for example week 1 you save $1, week 2 = $2, week 10 = $10, and so on until you reach week 52 where you’ll save $52. Below is an example of how the money challenge works and ideas on how you can save money every week:
Week 1 = $1 ($1 saved)
· Take a dollar from your wallet/purse to save
· Search for loose change around the house
· Avoid purchasing a snack from a vending machine for a day
Week 5 = $5 ($15 saved)
· Cut out a cup of coffee at Starbucks for one day
· Refrain from impulse purchases when waiting in line at the grocery store
Week 10 = $10 ($55 saved)
· Bring your lunch to work for a day instead of eating out
· Skip one happy hour during the week after work
Week 25 = $25 ($325 saved)
· Watch a movie at home rather than going to the movie theater
Week 52 = $52 ($1,378 saved)
· Find free activities to do during the weekend
· Fix dinner at home during the week rather than going out to restaurants
At the end of the challenge, you will have saved $1,378! Not only does the 52 Week Money Challenge provide you with a nice chuck of cash once you finished, it also requires very little effort and will barely affect your lifestyle.
For additional fun and accountability, invite your friends to do the challenge with you so the whole squad can come up together!
Sooo… What do you plan to do with your savings? What money saving tips helped you along on your journey? Share your take and progress with the Black Wall Street community in the comments section.
