You’re never too young or too old to develop good savings habits. But if you’re like most people, starting good habits is where the difficulty begins. Have you ever heard of the 30-day exercise challenges? These challenges are popular ways to get people motivated into making healthy habits, not to mention helping you get into better shape. The same idea can be applied to help get your finances into better shape. To inspire you into healthy financial habits, Yolo Federal is challenging you to the 52-Week Money Challenge!
Here’s how it works. Starting today, put $1 into your Savings Account. In one week, you’ll put $2 into your account. The next week, you’ll deposit $3, and so on. From today, for the next 52 weeks, you’ll deposit $1 more than you did the week before. By the time you reach the 52-week mark, you’ll have saved up almost $1,400. Additionally, you will have successfully developed a great savings habit!
What would you do with the money you saved from this challenge? Go on vacation? Use to buy a new car? Put aside for your child’s college fund? Whatever you decide to do with your savings, remember that it doesn’t have to stop here. Now that you’ve developed a good savings habit keep up the work to help you reach your other financial goals.
Click here to get a downloadable version of the 52-Week-Money-Challenge.