Published on January 13th, 2015 | by Pete0
MoneySuperstar Saving Challenge 2015
So around this time of year, there tend to be lots of suggested money saving challenges floating around social networking sites. Well, this year, I thought I would get involved too. Which challenge did I go for, I hear you cry! Well, I decided to go for the ‘cumulative pound per week’ challenge. I know what you’re thinking – that is one seriously snappy title. Well, perhaps not, but I do like the challenge. The idea is that for every cumulative week of the year, you squirrel a pound aside. So, for example, I save every Friday. This is what it would look like:
Week 1 – Save £1 – Cumulative Total – £1
Week 2 – Save £2 – Cumulative Total – £3
Week 3 – Save £3 – Cumulative Total – £6
Week 4 – Save £4 – Cumulative Total – £10
Week 5 – Save £5 – Cumulative Total – £15
Week 6 – Save £6 – Cumulative Total – £21
Week 7 – Save £7 – Cumulative Total – £28
Week 8 – Save £8 – Cumulative Total – £36
Week 9 – Save £9 – Cumulative Total – £45
Week 10 – Save £10 – Cumulative Total – £55
So, hopefully the above explains the process. Obviously the idea is that you continue for all of the 52 weeks of the year. The difficulty with this particular challenge is that it gets harder as the years goes on. December is going to cost around £200. To be honest, I don’t know if I’ll get that far. What I do know, is that if I can keep going until October, then I will have enough to pay off my Barclaycard, which would be great, and a whole six months early. So that is my motivation. If you do make it to the end, then you would have saved £1,378. Not bad at all!
Will you join me? Or maybe you have a challenge of your own that you might like to share?