Happy New Year! I am super excited about what this year holds. Have you set your New Year resolutions goals? Most couples start talking about how they will save more money or need to save money. This is especially true once reality of what was spent over the holiday break is exposed.
So I know many of you have seen or heard of the 52 Week Money Challenge. I even shared it with you guys last year….good concept but kind of hard to maintain. So I decided to remix the 52 Week Money Challenge & issue my own challenge: 52 Week Anniversary Saving Challenge.
Just what is: 52 Week Anniversary Saving Challenge?
This savings plan put you in control over the amount you save & how you save. The amount to save will be easy to remember because it is based on the number of years married. Plus it doesn’t fluctuate. The amount you deposit weekly/daily is the same.
This savings plan will get you conditioned trained to make really deposits into your family “rainy day fund” or even your “special date night fund.” Saving will be easy for some and a tad bit challenging for others bit ti takes discipline to make a life style change. Saving money should be natural and at the same time pull you out of your comfort zone. So set the amount & the frequency that is S.M.A.R.T.
How to choose the amount to save:
Single Digit Anniversary options (Year 0-9)
- If you haven’t made it to a full year, then decide to deposit the number of months you have been married as of January 1.
- Year 1-9, you can decide to just save the amount equal to the year
- You could also decide to count the number of months you have been married. Example married for 2 years=24 months. That would equate to depositing $24 per week or daily. You decide.
- Add a zero to the number and save that amount…example: if you have been married 1 year then you can decide to save $10.
- Decide if you will deposit the specified amount daily or weekly.
- If you decide to go with a single digit amount, it would be best to save daily.
- If you decide to go with a double digit amount, you have the option to do daily or weekly deposits.
Double Digit Anniversary Options (10 years or more)
- Save your amount daily, weekly or monthly.
- Add a zero to your anniversary number & save that amount monthly.
- You could also decide to count the number of months you have been married. Example married for 10 years=120 months. That would equate to depositing $120 per week or month. You decide.
- Add a zero to the number and save that amount…example: if you have been married 15 years then you can decide to save $150.
Tips on being successful with the 52 Week Anniversary Saving Challenge
- Be each other accountability partner
- Make it fun. Add additional non-financial challenges between you and your spouse.
- Make the commitment to save over the next 52 weeks….365 days.
- Decide where you will deposit the money: in the bank, in cup, box, or even a dresser draw.
- If you decide on a bank account, open a new savings account specifically for this challenge. If you work, designate an automatic deposit into the account for the specific amount.
- If you forget to make a deposit, don’t stress. Just pick up where you are. Make adjusts to the end goal amount. Now don’t use this as an excuse to miss or stop because neither are an option.
- Set a goal for what the money will be used for.
- Pray over the saving plan & commit to it!
It’s important to invest in your marriage and helping your marriage to have a healthy financial wealth is important. Whatever and however you decide to save, all I ask is that you SAVE! It’s imperative to have some “funds” available for the “what ifs”…..
If you need help with getting your finances in order, read these books: The Total Money Makeover: A Proven Plan for Financial Fitness
What will your savings plan look like this year?
Love all of these, I definitely need to do something, last year we did that adding $ every week… we saved over $1,000 for our vacation
we are starting the challenge ourselves tomorrow!! g ood luck!
I cannot wait to start a 52 week money challenge!
I am so glad my husband and I are of the same mind when it comes to money. We are both pretty good with it – very frugal. Than you for your tips!
Thanks for the great idea! I normally try to save. by the end of the year with all the expenses (and a move), I need to get back on track!
we just started an 18+ year savings plan for our daughter, $10 a week from my husband, my mom and myself all go into a savings account ($30 a week adds up fast!)
Love this post you have included lots of fabulous information. I’m pinning too.
Our savings plan is the same as it always has been – lookin’ good! This sounds like a great plan for newlyweds.
Sounds like a great plan!
I dont really follow any trendy savings plans, but rather my own of putting aside what i can each week. Right now that is $25 per week. That is what I am comfortable putting away.
This is such a great way to learn to start saving money!!! I am going to start doing this with my husband this year!
What a neat challenge. We designate money every month for our vacation fund and our entertainment fund (which is what date night comes out of).
This is so great! I really need to be better about this this year! Thank you so much for the great info and tips! Happy New Year!
This is an interesting way to go about saving money. It probably helps a lot to make it fun.
I love the idea of choosing a number based on your current anniversary.
This is a good twist on an old plan. I think I might work out a twist for a single or divorced mom that may work better according to any struggles we may face and still allow us to save.
so true- marriage is a partnership and takes TWO!
I really needed to read this! I wanted to do a 52 week savings plan last year and it just fell apart and I didn’t do it. I’m even more determined this year! thanks!
This is a really interesting twist on the traditional savings challenge.
Great money saving tips. We have a couple different accounts that we save money in. I have to admit, I find it hard to stick to sometimes.
I am a really good saver so I hope to keep up with that. I’m not married anymore so I can’t tie it to an anniversary, but that’s ok. I’m still a good saver!
I just put away money every month to save. 🙂
There are some interesting variations on the challenge here. I like that you encourage couples to save together. It is a good habit, doing things together as a couple.
Yep, teamwork makes the marriage work. Thanks Janeane for stopping by