But as we set financial goals for the upcoming 12 months, it’s important to think beyond broad declarations, like: “I want to save more money.” Without a clear plan mapped out, those types of resolutions often fall through.
The 52-Week Money Challenge, on the other hand, is specific and concrete — offering a better chance to walk away with success.
You may have heard of this challenge. The premise is simple, but it gets more difficult as the year goes along.
The first week, you save $1. The second week, you save $2. The third week, you save $3…
The idea is to increase the amount you deposit by $1 each week until you eventually save $52 in week 52, the last week of the year. Stay disciplined and stick to the plan, and you’ll have $1,378 in your account at the end of the year.
Imagine what you could do with an extra $1,378.
While saving over $1,000 in one year is wonderful, the classic 52-week challenge isn’t ideal for everyone. It’s great for folks who enjoy raising the bar after each milestone. But others dread the thought of putting away more than $200 in December. (Following this plan, you’d need to save $49, $50, $51 and $52, respectively, in the final four weeks of the year.)
The good news is that the 52-week challenge can be adapted to fit your financial situation.
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5 Alternative 52-Week Money Challenge Hacks
We’ve devised five alternate ways to complete the 52-Week Money Challenge. You’ll still make weekly contributions into your savings account, and you’ll still finish the year with $1,378. These variations simply approach the saving plan in different manners.
Method No. 1 — Odd Numbers Up, Even Numbers Down
This method suits people who want the challenge to ease up as the year closes.
Here’s how it works:
- Begin the year saving on odd-numbered amounts, increasing the deposit each week by $2. So in week one, you’ll save $1. In week two, you’ll save $3. In week three, you’ll save $5. Continue this sequence until week 26, when you’ll deposit $51.
- At week 27 (midyear), switch to even-numbered deposits, starting with $52. From that point you’ll decrease the weekly deposit by $2. So you’ll save $52 in week 27, $50 in week 28, $48 in week 29 and so forth. By the final week of the year, you’ll be putting in just $2 to reach the $1,378 total.
You will need to set aside larger sums in the summer months, but you’ll have less pressure to save heavily at year-end.
Method No. 2 — Quarterly Breakdowns
If you like the idea of increasing what you save each week but prefer to divide the year into smaller segments, this approach spreads the increments across quarters — every 13 weeks.
Here’s how it works:
- Deposit $1 into your savings account in week one. For the subsequent weeks of that quarter, add $4 to the prior week’s deposit. So in week two you’ll deposit $5. In week three you’ll deposit $9. Maintain this pattern until week 13, when you’ll deposit $49.
- Begin the second quarter by depositing $2 in week 14. Continue the pattern of adding $4 to each following week’s deposit through week 26. For example, you’ll save $6 in week 15, $10 in week 16 and so on until week 26, when you’ll deposit $50.
- For the third quarter, start with $3 in week 27. Resume the pattern of increasing each week’s deposit by $4. In week 28 you’ll deposit $7; in week 29 you’ll deposit $11. Continue this through week 39, when you’ll deposit $51.
- Week 40 kicks off the final quarter. Start with $4 that week, then follow the same add-$4 pattern used earlier. You’ll save $8 in week 41 and $12 in week 42, ultimately reaching $52 in week 52 for a total annual savings of $1,378.
Method No. 3 — Random Lottery
This option is for people who enjoy variety and prefer not to follow a predictable schedule. You pick a different amount at random each week to hit the yearly savings target.
Here’s how it works:
- Create 52 slips of paper and write down amounts from $1 to $52 on them. Fold each slip and place them into a jar.
- Each week, draw a slip without looking. The number on that slip is the amount you’ll deposit that week. Discard each slip after drawing it. Alternatively, you could draw all 52 slips at the start of the year and record the weekly amounts on a chart or spreadsheet.
This strategy is entirely arbitrary. One week you might save $5 and the next week $50.
Method No. 4 — Semicontrolled Lottery
This hybrid technique blends randomness with some structure, offering variety without complete unpredictability.
Here’s how it works:
- Write deposit amounts from $1 through $52 on separate slips of paper.
- Divide the slips into four groups: $1–$13, $14–$26, $27–$39 and $40–$52.
- Place each group into its own jar and label them Jar One, Jar Two, Jar Three and Jar Four.
- Draw from Jar One in the first week, Jar Two in the second week, Jar Three in the third week and Jar Four in the fourth week. Discard each slip after drawing. Then return to Jar One in week five and repeat the cycle through the year. As an alternative, you can perform the selection for the whole year at the start and log the amounts on a spreadsheet.
This method ensures you’ll deposit a mix of lower and higher amounts each month. While it retains an element of chance, you won’t risk pulling several $40+ deposits in a single month.
Method No. 5 — Steady Savings
If consistency is your strong suit, this method is ideal.
Rather than varying weekly amounts, you can deposit $26.50 each week for 52 weeks to reach the $1,378 goal by year’s end.
This is a straightforward, uniform strategy to complete the challenge. It may not feel as exciting (for those of us who find saving amusing), but it’s effective.
You won’t need to think about the weekly amount. You could even automate the transfers at the start of the year and forget about them.
The Major Takeaway: Just Start Saving
Now that you know it’s possible to save more than $1,000 in a year, the question becomes: Which plan will you pick?
We’ve outlined several choices, but remember there are countless other ways to tailor a savings challenge to fit your routine.
Maybe you’re paid every other week and prefer to make biweekly contributions that align with paydays. Maybe monthly deposits suit you better. Or perhaps most of your income is cash tips and you’d rather save a little daily.
You also don’t need to be tied to the $1,378 figure. (It is a rather odd number to build a challenge around.) If your budget is tight and $52 in a single week feels impossible, halve the suggested weekly amounts. You’ll still save $689 by year’s end. Or if you have flexibility, double the weekly deposits and reach $2,756 in savings after 52 weeks.
No matter which route you take, the key is making a conscious effort to save consistently. Build the habit of setting money aside so that when the next year arrives, saving won’t feel like a hurdle.
Avery Cole is a former senior writer at Savinly. Deputy editor Jordan Price updated this piece for 2023.
