Even though I’m just recently back at my home base from 6 months abroad, I’m already itching to go off and explore someplace new. However, there are always real-world concerns I have to take into consideration when planning a new trip, such as how I’m going to finance it. Now that I’ve returned home, I find that a lot of people keep telling me how lucky I am to have money to travel, but the simple truth is that you don’t have to be rolling in the dough in order to go someplace new. I certainly don’t have much money, and I’m not always traveling. Instead, I split my time between working/saving and then taking my savings and going off on my next adventure. It can be done! Usually, I just put aside a bit of cash here and there, and see what it adds up to by the time I’m ready to set off again, but this year I thought I’d try something new.

52-Week Savings Challenge

I’m sure by now, you’ve heard about the “52-Week Savings Challenge” that allows a person to save about $1,400 in a year. It’s been floating around the internet for a while, and the idea behind the challenge is very straightforward. During the first week of the year, you put away $1. During the second week of the year, you put away $2, and so on and so forth until the very last week of the year when you put away $52. By the end of the year, you will have saved $1,378 (and if you decide to put your money into a savings account, you’ll even accrue interest). Below is a table that outlines the math of the money challenge.

Like I said, simple! However, there are a few difficult aspects of the original version of the money challenge. First, by the end of the year, you’ll have to put away quite a bit more money than you did in the beginning of the year. Assuming you began saving during the first week of January, you’ll end up putting away a little over $200 during December, one of the most expensive months of the year. I don’t know about you, but that doesn’t seem ideal to me.

Another negative aspect of the original money challenge is that you can’t always predict what will happen in life. There will be weeks when an unexpected expense pops up, and you might not be able to put away the amount dictated for the week. If you fail to meet the weekly goal, it might prove difficult to get back on track the next week. It may seem like a small thing, but it can really feel like quite a setback.

a Simpler Version

Luckily, I found an different version of the Savings Challenge that addresses these problems! According to this different version, you’ll still save $1,378 by the end of the year. However, you won’t be doing it in the linear fashion of the list above. Instead, each week save as much as you can. Did you save $32? Then cross off the $32. Did you save $14? Then cross off the $14. Obviously, the more you save each week, the better. If you have the means (and the enthusiasm), you’ll probably be able to cross off the bigger numbers earlier in the year, making it easier for you to push through the challenge during those tougher weeks.

I know I could build some interest by saving my money through the bank. However, I decided to put my savings in a jar instead. I’m a very visual person, so watching my savings grow in front of my eyes week by week will hopefully encourage me to continue with the project throughout the year. Above, you can see a picture of the little savings jar that I made for myself. It’s very simple, and only took a few minutes to make. I just used a mason jar and picked up a bank-slot lid insert for the top. Then I printed off my chart and attached it to the side. If you’d like to use the same chart I made for my jar, just click right here.

To me, this is a much more realistic approach to saving my money. So if you’re looking to save for your next big trip, why don’t you give this money challenge a try?