52 Week Challenge

Every year I try to find new ways to improve my financial status. Last January I came across a savings strategy called the 52 week challenge. Although the idea originally came from Life as you live it, I read the article from Kuripot pinay.

The challenge is to save every week with a constant increasing amount every week. Unlike saving a constant amount every week, the increasing amount required allows you to slowly adjust your lifestyle in order to achieve the required amount each week. If you religiously stick to saving the required amount each week, you'll end up saving a huge amount at the end of the year.

Fifty Pesos 52 Week Challenge
I am currently taking on the Fifty Pesos 52 week challenge. The graph above shows the required amount I have to save each week and my current progress. Every time I have spare cash in my wallet I usually add it in this challenge. I only set the minimum amount and don't limit myself on how much higher I can save for a particular week. The first few months is the easy part and I may need to budget my expenses when I reach the months of October. 

I need to be mindful with my expenses in order to achieve this challenge. The amount I put in this challenge is what is left from paying myself, bills, insurance, and household expenses. I will be investing the amount in Equity Funds once I reach the minimum initial investment. I will update my progress once I reach the amount. To know more about the 52 week challenge visit the links below.