I remember when my husband and I first got married….I was ALL about saving money and he was ALLLLLLLLLL about spending money.
I can’t tell you how many times I talked him off the “I’m gonna blow my money on (fill in the blank – big screen tv, iPad, Macbook, etc)” ledge.
But it was a lot.
A lot, a lot!
Finally, when he was deployed to Iraq {and had no way or means to spend money} we had the chance to boost our savings.
Our first goal was just to have $1,000 in our savings account which was inspired by Dave Ramsey’s Baby Steps.
Our goal gradually increased where we eventually saved up to 12 months of our expenses in cash. You might think that sounds like a TON of cash on hand. And I agree…it’s a goal that took us over 5 years to reach. But it was what made me feel comfortable. It also allowed us to do things like build our dream home, adopt and plan for lots of unexpected expenses that have come up along the way.
You’re goal doesn’t have to be 12 months of expenses, but wouldn’t it be nice to boost your savings?
To get it to the point where you finally feel “comfortable” in case something comes up?
Starting Small – The 52 Week Money Saving Plan
We can’t take credit for this concept. In fact, we aren’t even sure who came up with it. All I know is that I’ve seen the 52 Week Savings chart everywhere and it’s blowing up Pinterest.
How does the 52 week money saving challenge work? It’s the easiest way to boost your savings that I’ve ever seen. Seriously.
The 1st week you deposit $1 into your savings account. The 2nd week you deposit $2 into your savings account. The 3rd week you deposit $3.
You get the picture?
By the 52th week after you deposit $52 you’ll have accumulated $1,378. And that’s not including interest!
But in case that isn’t much of an incentive to start saving, what if we offered you real cash?
Do we have your attention now?
If so, read on….
Double Your Savings Account
The hubby and I are excited about getting people to REALLY start saving. With him being a financial advisor and with me being the household money manager…we saw this challenge as a way to get a lot of people inspired to get their savings account back on track.
We are hoping that you see how SIMPLE it is for you to save money.
And because we wanted to do something that would REALLY make a difference in someone’s bank account we added another angle to this challenge.
You ready?
For those that make the entire 52 weeks we want to reward one lucky person with an awesome prize.
We want to double what you’ve saved and match your $1,378.
That’s right. One super lucky person that personally saves $1,378 will be awarded the same amount.
Now are you inspired to save? WE hope so! 🙂
Want to know how excited we are?
This excited:
So excited that we took a selfie holding a piggy bank minutes before we were rushing to get our kids off to school. 🙂
Rules of the Competition
First, you’re more than welcome to take on this challenge without following the below steps. BUT….if you want to be eligible for the “double your savings” cash reward, this is how it will go down:
- Step 1: Leave a comment below announcing you’ve joined the challenge.
- Step 2: Open a *FREE* brand new savings account with Capital One 360.
- Step 3: Coordinate with your current bank to facilitate the weekly transfers
- Step 4: Winners must provide confirmation email showing the new account opened and a screenshot of the balance in their account after the 52 weeks
That’s it! Taking on this challenge will finally get your savings account to a level it’s never been AND you have a chance to double it.
All for taking action right now.
A few questions you might have.
Why Capital One 360? There are several online savings account you can choose from. We just think they are one of the best. It’ s free to setup and super easy to open. Open an account today and see how easy it is.
Why does it have to be a new account? We want this account to be separate from any other savings account you have so your less tempted to touch it. How many times have you started a savings account only to raid it for some purchase? This will hopefully prevent that.
Can anyone sign up? Not quite. You have to be at least 18 years of age and a U.S. Resident.
When’s the deadline to sign up? You have until January 31, 2014 to get started. You have plenty of time BUT don’t procrastinate!!
Want This Free Download?
We created this PDF to keep you inspired for the 52 Week Challenge.
Download the Free Worksheet and you’ll also get access to a ton of other free resources that Jeff has created for y’all!
Share the love?
Inspire your friends and family members to join this challenge with you.
I’ve joined the 52 Week Savings Challenge at GoodFinancialCents via @jjeffrose & @houseofrose Click HERE to Tweet
Make this YOUR year that you get your savings on track!
**UPDATE: We have picked and verified a winner for the 52 Week Savings Challenge as of January 2, 2015. The winner is Heather Black. She has been contacted and sent the money!! A huge thanks to everyone who participated and we hope this helped you boost your savings!
My hubby and I just did this challenge this year:) so glad the year is almost over! Haha!!
Hi Jeff & Mandy! I have been following your fabulous blog House of Rose for about 2 years now. I first discovered you by your very popular & super lovely master bedroom post! I have been hooked ever since then!! I actually started doing this 52 week money challenge at the beginning of this year but fell off the wagon after week 3…Oopsie! Sooo I am joining this challenge! I am 31 years old & I have GOT to become a SAVER & not a SPENDER!!!! And if I am able to win your challenge, well it would just be the icing on my savings account!!
Hi guys! I’m signed up. You guys are awesome and spread good all around. Love your house, love your family and most of all, love your positive motivation!! <3
This is absolutely awesome! I would have never thought to do it this way! But I can’t wait to start!! I have always had the hardest time saving money, and especially just taking it out cause it’s connected with my checking so I’m constantly seeing it. Thank you for this challenge! 🙂
Hi! I found you on Instagram and then I learned about your blog. I am a senior in college, starting grad school in August. My boyfriend and I are wanting to buy a house in the summer and I think any savings will help. I will create my account tomorrow because it is past my bedtime (;
Hi! I read this blog & spoke it over with my husband & we had decided to join. I hadn’t never heard of this so were super excited. Setting up new account now.
This is such a great idea! I’d already committed to trying it this year when I saw your post – I think in my relationship with my boyfriend, in the future, I’m going to be the saver and he’ll be the spender – your posts are a great reminder that those two types of money people can work together! BTW, I love Capital 360 Savings accounts too! My mom helped me open one when I was in college and I’ve been using them every since!
Sign me up!! I’m so excited. I already use capital one 360 so, I’ll set up a new account today! Thanks for this challenge! I’m so excited!
Well I am the spender and Hubby is the saver but I’m doing this challenge.
You two are awesome! Sharing this with all of my friends, and joining in on the challenge.
I love this idea! I’ve seen the idea floating on pinterest too and have thought about participating. In fact, my mom just showed it to me and said I should do it haha, then I saw y’all’s incentive and definitely knew I wanted to participate! Thanks for the free printable and the encouragement to save! 🙂 I’m excited to join in!
Woohoo! This is totally my cup of tea and I’m heading to the site to get my account going right this minute! I am a newly wed that is in the same boat you were… I have always been the saver and my husband is NOT! Thanks for the motivation and I adore your blog!
Hi guys,
I’ve been wanting to do one of these savings things for a little while now, but I’ve always been to chicken. So this is the perfect chance for me to get my act together. I’ve checked with my husband & he’s game too. Creating the account tonight when I get off work. Will also be posting on my blog {www.2400oakridge.wordpress.com} our progress. Your printables are already all downloaded to my iPad & ready for use. I can’t wait to get started!
I am signing up for the savings account now, looking forward to this challenge! I hope I don’t forget by the end of the year!
I am totally in! I started this challenge last year, and fell on and off. I am ready to commit again this year!
I am signed up!!! I can not wait to get this started.
Thanks so much for inspiring others to save! I have opened a new account and am joining the challenge! 🙂
I just opened my new savings account with Capital One 360!
Hey Mandy, great idea!! I have not been great about saving this year for several reasons. I am looking forward to getting back on track and saving like a fool;) I opened my account today and am looking forward to the extra savings this time next year. I have some plans for it already. Thanks and blessings! Susan
I saw this on another blog and printed out her sheet to track, with the intention of starting it this year! I love that you guys are giving such great motivation to keep it going all year, because goodness knows when I get busy I’ll forget to save, but now I have a great reason to keep it up! I’m already to set up my Capital One account!
That’s awesome of you guys! I actually started doing this with a 360 account I already have. Unfortunately, we had a rocky couple of months, and I had to end up taking it out to pay a bill. I think I will start back up again! What better time than the end of the year?!
oops I mean *all ready 🙂
I accept the challenge! My hubby and I have always struggled with saving. He is a full time student taking a bachelor of science. We have a long road of schooling ahead of us and so every penny counts! I know if we are challenged to keep up to this we can do it. Only problem is we live in Canada so I can’t fully participate in the challenge! But I’m committed! ????
I have joined the challenge!! I am very excited to get this started!
Yes! Thank you so much… I’m in!
I did the 52 week challenge this year for this first time…I did it backwards because I knew I would be more likely to have $200ish in January than around the holidays. I am proud to say I completed it. My current savings account is with my employer, but I will definitely be checking into opening a new one to participate in this!
I’m signed up. Can’t wait. I’m bad at saving.
I am in! I absolutely love to save but I love to spend more so hopefully this will help me save better!! Opening another Capital one 360 account right now!!!!
Excited about this savings challenge! Signed up, account created!!! 🙂
Very excited for this challenge! I soooooooo need to be a better saver! just opened my CapitalOne 360 savings account 🙂 Thank you for the motivation!!
I am so excited to start! Thank you for the idea, never would have thought of it!
Signed up! Woo-hoo, can’t wait to save some money!!!!!!!!!!!
My hubs and I are the same way! I am the saver and he is the spender. I told him about this challenge yesterday and he was totally up for it, which makes this saver wife super excited!
Love this idea!! I ‘m signed up.
I’m in!! We just moved cross country and need to boost our savings.
I’m in on this! I recently opened a 360 checking amd savings to take advantage of their sign up bonus. $$$ Free money!
I’m soooo signing up! 2014 will be the year I SAVE instead of spend!!
i have joined the challenge
I’m in!! I can’t wait to save some money!! We’re good about moving money into savings each month, but we NEED to put it into another savings account that is harder to access! We save and then spend what we saved, usually because we overspent in our checking account budget and need to dip into the savings to finish the month 🙁
I am doing the challenge!!! Really excited and because I know the holidays can be rough on my finances I am doing the challenge backward and starting with $52 and working my way down …
Hi Jeff & Mandy!! I follow both of your pages/ blogs and I am SO EXCITED for this challenge! I have a career in financial services, but being a single mom I often live on a very tight budget. Taking this on will make it possible for me to put saving first so that I can create positive savings habits in myself and pass that on to my children. THANK YOU for this challenge, I graciously ACCEPT and will see you at the finish line! My 360 is OPEN and I am looking forward to what this next year has to bring!
I’m all setup! Excited to have a plan in place to actively save.
I have joined the challenge. I am already a Capital One 360 customer, but I will open a new account for this. I am excited about this challenge. My hope is that if I meet the goal for 2014 I will be able to challenge myself to double the savings for 2015. Thanks for the inspiration and motivation.
I’m in! I opened my account and am ready to go 🙂
Just set my account up and can’t wait to start saving! I’m definitely the spender and my husband is the saver so I’m excited to save.
YES! I have been contemplating doing this challenge for most of 2013. I am excited to kick off 2014 with an end goal in mind. My husband and I have just opened our account with Capital360. Thanks for the motivation to finally start this…Here we go!
I am ready to start this challenge! Great idea and incentive, thanks!
I am all signed up and looking forward to using this for Christmas shopping next year!
Ok! I have officially joined! I am also signing up my child for a savings account as well. We are in desperate need of starting a savings and this seemed like the perfect plan to ease us into this! Thanks so much for this opportunity:-)