The 52-Week Savings Challenge

Saving money is my forte. Believe me! My mother can attest to how well I handle my money. Makunat pa daw ako sa belekoy even if I still don’t have the slightest idea what the eff a belekoy is. But ever since we started paying for our own house, saving was temporarily removed from the equation. We would try to save when bonuses are released, but these things only come once in a blue moon. Our current aim is to pay for the house and not take away anything from our savings account. We are living within our monthly incomes. At first it was fine. Each time we realize that we are not saving anything, we come up with two excuses. 1) Our savings account is untouched. 2) It’s ok if we are not saving, paying for a house is already an investment. Although these are valid excuses, we decided that sooner or later, we need extra money for emergency purposes and to fill our future house with the things that we need. So thanks to the brilliant mind of whoever came up with this 52-week savings challenge, we are definitely getting richer this year!

I made some research and found out that participants are intended to save $1 on week 1, $2 on week 2, until you reach $52 on week 52. But since I don’t want to suffer from internal hemorrhage due to converting USD to PHP, I searched if there is a Pinoy version of this challenge. Incidentally, I have a friend who posted this on her Facebook account!

USD1 is approximately PHP43. Mas bongga ang Pinoy version! Fifty Petot ang increment! Hihi! Anyway, I showed this to my husband and he accepted the challenge too. We decided to put the money to a bank, probably every end of the quarter. In this way, the money is growing. I know that some of the aggressive earners will argue that the money should go to a mutual fund or should be invested in the stock market. We already have some passive incomes, but I think this 52-week challenge is also a good way to increase our current investments in the future. Ano nga namang ipang-i-invest namin kung walang savings?! :p

So, are you taking the challenge too?