• Mon. Oct 25th, 2021

Janeane's World

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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?