Thursday, January 2

Swabeng Thoughts: Trying the 52-week money challenge (Swabeng Edition)

Actually, I've seen this challenge as early as last year but I wasn't able to give some thought into at and had my way of saving money for last year. Based from the person who started this idea, all you need to do is save up every week until you complete 52 weeks (equivalent to a year). You can do this every year until you were able to save-up for something that you really want or until you retire. Sounds Good? Wait till you see the results.

This challenge (52 week money saving) is really a great idea to start the year. The good thing here in this challenge is that the money you put in is compounded weekly so imagine how much you would be able to save in a year. Since I started working again last year (2013), I made sure to save up for my daughter's future that I almost forgot saving for myself =P (Well, my daughter's account is my account too until she's of legal age).

Just early tonight, I saw Kuripot Pinay's version of the 52-week money challenge. She has a point that there is no reason for us NOT to try this challenge and gain a lot from it. The only problem that I see is that not all of us earn the same. That means I'd add some variations to this challenge that suits almost all income brackets (I'm sure she's thinking of ways for this).

Here are some of the ways I've think of (versions) for the 52 week money challenge.  

1. Kuripot Pinay's Version: In this version, increments of 50 pesos must be added on the succeeding week until you'd be able to save 2600 on the 52nd week (and 68900 over-all). That's a good amount of money which allows you to buy the things that you really want or put it in investment (or savings). However, you must be prepared for the 2nd half of the year as the amount you need to put in is a bit high (1350 pesos on week 27 onwards). Given that you really save and do minimize unnecessary expenses (plus making ways to earn extra), I'm sure you'll be fine. This bracket would be for me definitely. 

2. The Student Version: Since you'd still be dependent on you parents (or legal guardian), I set the increment to as low as 5 pesos per week. Even workers earning minimum (or below minimum) can start here. This version puts everyone (almost) a chance to save-up. 

3. The 10-peso Version: This one also covers students and low-income earners as its slightly higher than the Student Version. Looking at the the table below, I believe this is also doable and everyone should give it a try. ^_^

4. The Manager's Version: Or should I say I'd call this The Insane Version. This version is ideal for managers (I think) or those with lots of money to save while still contemplating whether or not they should start playing with the stock market. Businessmen can try this as long as their income stream won't be affected (Good Luck!)

I still have a table for 20-peso, 30-peso and 40-peso increments but I'll reserve it for now just in case ^_^. I'm sure the four options given are more than helpful for you to start.

And after 52 weeks, you already have the desired amount that you have been saving-up for the entire year. Its up to you on what you wanted to do with it. You may want to spend it on the dream gadget you've been eyeing for the entire year. Or a long vacation trip to recharge your body and mind and soul, knowing that you've been working long and hard for the entire year. Or better yet, you could do some readings on investing the stock market and put it there.  

Whatever you choose, it's your money and you deserve to do anything with it. ^_^


  1. Actually i already saw this from my friends FB they are also interested to do this, since we wanted to save for future trip. Your blog, inspire me to do this, since you present it in various option.. Thanks!

    1. Thanks Leneth! Actually I saw that too and it made me push for this project, what option would you be trying?


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