Getting Started – 52 Week Money Savings Challenge
Welcome to the 52 Week Money Savings Challenge Week 1! I’m so excited you’re here and joining me on this challenge!
This week is a super easy week. If you’re following the printable, we’re depositing just $1 into our savings account. Let’s talk about some ways this challenge can be done.
- If you don’t think it will cause issues and your bank allows you to schedule transfers in advance, try setting up auto transfers for January’s deposits. Unless you know beyond a doubt that you’ll have the money to schedule auto transfers, I wouldn’t recommend scheduling too many in advance. The last thing you want to do is overdraw an account and have a hefty fee to pay.
- If your bank isn’t transfer friendly, instead of making 4 tiny deposits this money, make a $10 deposit now instead of breaking it down into the $1, $2, $3 and $4 deposits.
- Another idea to consider, start adding a little extra to your deposits in these more easy weeks so that when December rolls around, you don’t have to worry about depositing the full amount of $102 that month.
- I had one person tell me she was going to do this, but instead of starting January off with the easy deposits, she was going to reverse the deposits and December’s deposit amounts became January’s. If that works better for you because of Christmas and such, do it!
This challenge is more about what you can do, not everyone else.
I’m so glad to have you on this journey with me. I’m looking forward to each week and I hope these posts and the emails are not only helpful to you, but encouraging as well.
- If you are new and just now joining, subscribe to the weekly email and download your own copy of the 52 Week Money Savings Challenge printable. All current subscribers are entered into an Amazon drawing held at the end of the month.
- If you want to catch up on the reading of each week, go to our 52 Week Money Savings Challenge page and check out each week listed, as you’re able. Don’t worry about catching up on savings amounts unless you’re able to, just start with the current week and add extra if/as you’re able.
- Want to open an online bank account to help keep things separated? I personally use Capital One 360 and have for years. It takes a few days for transfers to complete if you’re using a local bank