More than half of all Americans say they wouldn’t be able to cover a $1,000 emergency expense from their savings, according to a Bankrate survey. The 52-week challenge is a savings plan that offers a way to flip that statistic on its head, one week at a time. By following this simple strategy to a tee, you could accumulate $1,378 in just one year — more than enough to cover a $1,000 emergency expense. But it’s really designed to build small amounts into strong savings habits, allowing for flexibility to change it up and save even more.
Intrigued? Let's dive into how this straightforward method can help you build a robust savings habit — or set aside money for a short-term goal or holiday gifts — no matter your current financial situation.
The 52-week money challenge is a savings plan that gained popularity through social media around 2013. The concept is beautifully simple: You start by saving $1 in the first week, then increase your savings by $1 each subsequent week. By week 52, you put away $52, culminating in a total savings of $1,378 for the year.
Here's a look at how your savings grows under the 52-week money challenge.
Amount you contribute | Total saved | Amount you contribute | Total saved | ||
Week 1 | $1 | $1 | Week 27 | $27 | $378 |
Week 2 | $2 | $3 | Week 28 | $28 | $406 |
Week 3 | $3 | $6 | Week 29 | $29 | $435 |
Week 4 | $4 | $10 | Week 30 | $30 | $465 |
Week 5 | $5 | $15 | Week 31 | $31 | $496 |
Week 6 | $6 | $21 | Week 32 | $32 | $528 |
Week 7 | $7 | $28 | Week 33 | $33 | $561 |
Week 8 | $8 | $36 | Week 34 | $34 | $595 |
Week 9 | $9 | $45 | Week 35 | $35 | $630 |
Week 10 | $10 | $55 | Week 36 | $36 | $666 |
Week 11 | $11 | $66 | Week 37 | $37 | $703 |
Week 12 | $12 | $78 | Week 38 | $38 | $741 |
Week 13 | $13 | $91 | Week 39 | $39 | $780 |
Week 14 | $14 | $105 | Week 40 | $40 | $820 |
Week 15 | $15 | $120 | Week 41 | $41 | $861 |
Week 16 | $16 | $136 | Week 42 | $42 | $903 |
Week 17 | $17 | $153 | Week 43 | $43 | $946 |
Week 18 | $18 | $171 | Week 44 | $44 | $990 |
Week 19 | $19 | $190 | Week 45 | $45 | $1,035 |
Week 20 | $20 | $210 | Week 46 | $46 | $1,081 |
Week 21 | $21 | $231 | Week 47 | $47 | $1,128 |
Week 22 | $22 | $253 | Week 48 | $48 | $1,176 |
Week 23 | $23 | $276 | Week 49 | $49 | $1,225 |
Week 24 | $24 | $300 | Week 50 | $50 | $1,275 |
Week 25 | $25 | $325 | Week 51 | $51 | $1,326 |
Week 26 | $26 | $351 | Week 52 | $52 | $1,378 |
As you can see, the amount you’re saving each week increases gradually and never exceeds $52. These small increases make the challenge accessible, allowing you to ease into the habit of regular saving.
You can embark on your 52-week savings journey in four steps:
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The 52-week money challenge has several benefits that make it an effective savings strategy.
Starting small and gradually increasing your savings by just $1 a week can help even the most challenged savers build confidence and momentum. This incremental approach not only makes the task of saving feel manageable but also leverages the Zeigarnik Effect — a principle that refers to the tendency for people to finish uncompleted tasks versus ones they haven’t started at all.
Consistent weekly savings helps establish a long-term habit of putting money aside. Studies have shown that it takes an average of 66 days to establish a habit.
The reason is because repetitive actions create new neural pathways in our brains, essentially rewiring our thought patterns and behaviors. (Popular neuroscientist and author Joe Dispenza discusses this concept in a 2016 TED talk.) When we consistently perform an action like saving money each week, we strengthen these neural connections, making the behavior more automatic over time.
As you set aside money each week, you get to see tangible progress of your efforts — which in turn reinforces positive financial habits. In this digital age, budgeting and saving apps can enhance this experience, providing an interesting, visual way to track your progress toward set financial goals.
This simple approach makes for easy modifications that might better suit your financial situation, lifestyle and goals — and help you stick with the plan. These changes might make for a more manageable and successful plan for your specific needs.
You can easily personalize the 52-week savings challenge to fit your budget while still arriving at the same savings amount at the end of the year — or significantly more, if that’s your goal.
Popular options to consider include:
Ultimately, how you approach the challenge is up to you. If the 52-week money challenge doesn’t resonate with you — that’s perfectly fine. You can explore these 5 popular budgeting strategies instead to discover the best fit for your financial personality.
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Saving without a goal is like making a peanut butter sandwich without jelly. Here are some exciting goals to strive for as you progress through the 52-week money challenge:
Even with the best intentions, staying committed to a yearlong challenge can be difficult. Pick and choose from our tips to stay motivated and crush your savings goals.
Remember, it’s never too late to begin your savings journey, and every dollar makes a difference. By starting small and staying consistent and flexible, you can successfully tackle the 52-week challenge.
Kat Aoki is a seasoned finance writer who's written thousands of articles to help people better understand technology, fintech, banking, lending and investments. Her expertise has been featured on sites like Forbes Advisor, Lifewire and Finder, with bylines at top technology brands in the U.S. and Australia. Kat strives to empower consumers and business owners to make informed decisions and choose the right financial products for their needs.
