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The 52-Week Savings Challenge: How I Painlessly Saved $1,378 In One Year

The 52-Week Savings Challenge: How I Painlessly Saved $1,378 In One Year



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In this episode, one woman describes how she used a year-long weekly challenge to save money. Click here to learn how quitting fast fashion can also save you money in the long run: https://www.youtube.com/watch?v=TNE2BfRNRtY&list=PLD30V46E07RSHo4gWp98WjER6wnrmpfYR&index=15&

Video narration by Phe Caplan

Video by Grace Lee
https://www.youtube.com/c/WhatsSoGreatAboutThat

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38 thoughts on “The 52-Week Savings Challenge: How I Painlessly Saved $1,378 In One Year

  1. I didn't like this video or strategy. Open an account at a different bank and just set up your direct deposit so a portion of it goes to that new account. Out of sight out of mind. After a few months, not a year, you'll have that same amount or even more.

  2. I remember my mam recommending this challenge to me a few years ago and loved the concept, I never though to try the mason jar idea though, will definitely give that a go next time! 😀

  3. Im doing the $5000 challenge this year (on top of my 18% savings). Im not to concerned if i dont hit $5k, i think $3k would be a good middle ground to hit. I wrote it down in my planner so i can track it. All my regular stuff is automated, just thought this would be a fun extra 🙂

    Also doing a no buy every second month to try it out.

  4. Savings in a any way and in any amount could already make a change.

  5. This sounds tedious lol, I just move x amount per month into my savings on paydays based on that month's budget plan.

  6. In this week's episode of "Making it work" one woman gives us the scoop on how she saved effortlessly in one year. Craving more content like this ? Click here : https://youtu.be/5XechJYH-RQ

  7. When you couldn't transfer money over but set up an auto transfer for your next payday, that was a delay, not a failure. Great job. I'm going to try it! Thanks and Happy New Year.

  8. wow this inspired me to out an automatic transfer of 20$ a week into my savings account for the next 12 months

  9. Here’s a better and quicker idea. Multiple actually.
    – automatic withdrawals into savings
    – use cash mainly and save EVERY $5 bill you come along.
    – use a savings app.
    This app with take money out of your account to save it. Anything from $0.20-$100. Whatever you tell it too.
    OR have it take out what it can.
    It won’t take any if your account drops below a certain amount.
    I use 3 apps
    Digit (I can tell this app I want to buy a iPad in one year and need $1,000 and it will save enough to have it by that time.
    I have $200 in digit for rainy day
    Another $200 for my iPad.

    Tally save
    Saves $5 every Friday and gives me points I can use for gift cards.

    Albert. Multiple things. It sows you what you spend money. Gives you access to actual people you can talk to. AND will save money within the app. I have another $200 in there.

    Money leaves my account in small amounts and I barely realize.

  10. $20 a week will seem like a safe bet but if you don't do it on a direct transfer and have the money on the house you will end up not having $1,040 at the end of the year.
    Do everything directly from the checking account to a savings one that way you don't touch the money and feel as tempted.

  11. Such a great idea! I showed this to my boyfriend and we're creating our tub of numbers each as I type. Challenge accepted 😊

  12. You're recommending people living paycheck to paycheck were $50 can break the bank focus on saving for luxury international trips?

  13. Has anyone heard of real vision before? They say it's better than an MBA. I'm not smart enough to understand it but maybe some people here are. I found this link giving 50% student discount if anyone is interested. Some people love it. http://www.realvision.com/okboomer... Seems like it's still active

  14. I subscribed after watching a Chelsea video and unsubscribed all in one day after watching the rest of the videos on this channel. If it was solely just of Chelsea I would have stayed subscribed but the other videos ruin the channel.

  15. While I'm more inclined to do the math and transfer the same amount each month, this seems like a fun challenge and I love the random aspect of it. Thanks for introducing me to it.

  16. For those complaining about the repetitiveness of the channel: maybe you've outgrown the demographic. It seems to me that this is specifically targeted to young 20 somethings who are just learning the basics about money. If you've figured out how to budget, how to save for emergencies, how to save for retirement etc., then it's on you to start doing your own research on more advanced topics, like investing. Read some books. Take a class. I still watch this channel to reinforce good habits, but I don't depend on the people here to do all of my research for me.

  17. In 3 months, I was able to save €2.700 AND transfer €500 to my mom's bank account to support her financially.
    What helps for me is being extremely mindful of everything I spend and taking notes of everything.
    Everytime I have the urge of buying something, I ask myself: Do I really need this? More often than not, the answer is no.

  18. Me what I do is to save my coins instead of paper bills and put in the bank

  19. Yeah, like other people said, you made this unreasonably complicated.

  20. I have never heard of this saving challenge before. Merry Christmas.

  21. Or you could have put away 26.5 $ away every week

  22. Do you have any videos on how to prepare to move out? As an early twenty year old who is planning on getting a master's degree and a new car in the next few years, moving out seems expensive, especially in one of the most expensive cost of living states.

  23. Wow.. I was so excited to watch this video but I am so disappointed by the content… I've been a subscriber for years and completely agree with other comments that point out that your videos are too simple and not helpful at all. I think it's time for me to unsub and move on. I hope you guys take all of our comments seriously and re-evaluate your channel.

  24. Pre Authorized Transactions to savings account. It's automatic and I don't have to worry about it

  25. This isn't much saved but I guess people chose expensive places to live or eat I guess

  26. This is bonkers! Sorry. Not relatable or helpful.

  27. I’ve got a trip to save for in 2021, this seems like it might be a fun way to do it.

  28. Or just do an automatic transfer every paycheck~ You won't see it, feel it and at the end of the year you'll have saved a lot~

  29. For the last couple of years, I've saved up for a 2-week January vacation by putting away $40/week and then $50/week for about six months before each trip. I don't have a lot of expenses, so I was able to make the installments without much trouble. I'll definitely continue to do this every year because it makes it really easy to save for a vacation without ever having to come up with a big chunk of money. I don't think I'd bother with the little slips of paper, but I could see the ascending or descending installment amounts working well. But honestly, (in the case of descending amounts) I would probably get to the point where I was putting away only a few bucks, and realize that I'm capable of putting a lot more in, to either finish the "challenge" sooner, or increase the amount that I was taking. So a fixed amount works for me. It also comes in handy to have a little box of cash that I can borrow against in a pinch. If I know I'm definitely going to have the money to replace it with, sometimes I'll borrow against my vacation savings because I know I'm not going to screw myself and jeopardize my trip by not paying myself back. And if you can save money by buying something in bulk at a discount with your savings and then paying yourself back, you are further ahead than you would've been if you didn't purchase in bulk. Like, if you regularly consume something that costs $35, but you can get 4 of them for $105, you borrow against your savings and buy 4, ultimately saving yourself an additional $35 from what you would've spent, had you not had the savings to borrow against. You pay yourself back at the rate you would've been consuming the $35 item… maybe even apply the extra $35 to your balance and re-divide the total to lower your weekly amount… then repeat. Soon you've already got your money saved up and you're adding onto your trip or looking at nicer accommodations.

  30. I use a flip phone with a bill of 12 dollars a month and a smart phone with wifi only. It saves me 816 dollars a year off a data plan since 2013 totalling to around 6000 dollars. I do my own brakes and oil and other miscellaneous repairs saving me anywhere from 200-a few thousand year depending on if I need a major repair or not. I don't drink alcohol other than wine sometimes and that's where most my friends cash seems to go.

  31. I’m doing this challenge but I’m doing a version that I saw for people who are paid biweekly with my own twist on it. The biweekly version is just doubling up the payments to match your paydays. The way I saw it, they put 1 & 2 together & paid $3 one paycheck, then 3 & 4 together to pay $7 on the next paycheck, etc. The reason that way won’t work for me because the last paycheck of the year, you would be paying $103 out by putting weeks 51 & 52 together. Most people don’t have that much extra money around the holidays. So my spin on it is to take the highest payment & the lowest payment & put them together until I meet in the middle. So I’m going to take 52 & 1 to save $53 from one paycheck & then 51 & 2 to say $53 from the next paycheck, etc. This way, the most I have to save is $53 from each paycheck to get my $1,378 saved.

  32. As a developer, I'm going to make myself a little app for this so I don't need to cut up paper and find a mason jar lol.

  33. I did a slight variation on this: I divided 1378 by 12 and paid that into an account each month after receiving my monthly salary. I work on a monthly budget so that was easier to manage

  34. What i told my husband to do starting the first week of january is each time he gets paid,set $10 aside for christmas. This covers decorations and gifts. Then,it wont be last second,half assed,picked over gifts. And,no stress over having or not having gifts.

  35. If you have to scrimp and scrape to save $24 dollars in a week, you can’t afford a trip to Belgium.

  36. This really puts things into perspective…. I am lucky enough to be able to save more than $52 every week of the year. I can't imagine budgetting to such a narrow margin. I would be desperate to increase my income so I would have more buffer space.

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