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Categories: Inspiration

Finance – Most Big Thing Start Small: 52 Weeks of Saving

It is fantastic to know when you have nothing, that great things can come from saving with the tiniest of starts. At the start of each new year, each new season there is a rush of people with grand plans, resolutions, and schemes to make a financial killing in the new year. Of course, most of these plans fail and fizzle often within days of their inception.  The reasons for the fizzle instead of sizzle are many. One of the most common reasons is because people are not happy with small starts and small results.

The Bible tells a story about how faith the size of a mustard seed that can move mountains. Others have heard the story of the mighty oak tree coming from the tiny acorn. A common savings plan making the rounds is the 52 week savings plan that requires participants to save one dollar for each week of the year. This that on the first week of the year, one dollar is saved and on the fifty-second week of the year, fifty-two dollar is saved. Over the course of the year, almost $1,350 is saved.

 I like the idea for many reasons. First, it makes saving money a regular habit for participants. Second, because it starts small and grows, it I manageable while participants get into the habit of saving.  I first heard of this challenge last year. I belonged to a social media group where one group of participants wanted to participate in the challenge and another group decided it was just show money that would be saved, not “real” money. While I appreciated the fact that for some people, $1,350 is the cost of a pair of shoes, I also appreciated the fact that for some people $1,350  was a dream savings account.

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This savings plan is a good idea for individuals: rich and poor and for businesses of all sizes. A poor person can do the challenge with pennies instead of dollars. A rich person can do the challenge in one thousand dollar increments. Those in the middle should get in where they fit in. The important thing is not the starting amount. Incredibly, the important thing is not even the amount that will be on hand at the end of the year. The important thing I the habit that is created. The discipline that becomes a habit of saving and paying attention to retaining finances is a habit that will build character and eventually create a person or business of integrity. These are lofty goals, big goals, but they can come from the tiniest of starts for a person or business willing to grow.

In conclusion, it is fantastic to know when you have nothing, that great things can come from saving with the tiniest of starts.  So, the question for you this fantastic day is, are you going to stay tiny, or are you in the mood to grow?

Janeane Davis

View Comments

  • I am terrible at saving money so I had to try this! I am going strong into week 6 and doing the double challenge. Tell your sister to hang in there..lol

  • I Love this idea! Tried it last year and only got to week 4 or 5. I know this year is going to be better. Week 2 and already have more saved then I should.

  • This is a great way of saving (and learning to save for some adults!). It's great to bump up the ante if you can. Double or triple the amounts - then put the end of year fund right on your mortgage loan principal. Knocking off that interest (and years) is worth it!

  • I saw a similar savings plan last week and I think it's a great idea. I love that verse, by the way. And it just-so-happens... I could really use that reminder right about now. Thanks :)

  • This is such a great idea and I need to show it to my husband. Smart way to save!

  • Great way to save. Heard a lot about it!

  • This is a great way to start saving more money!

  • we did this last year and had to modify it part way through the year. I think if we do it again we'll work with a set amount each week.

  • I'm doing this same challenge. This is a great way for our family to save for our summer trip

  • I'm also doing this challenge but have rearranged the order of the savings amount so that instead of getting progressively larger, it's more mixed in.

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