Money Matters — 52 Week Savings Plan

What if you could save over $1,000 this year quickly while holding onto your Netflix account and being able to still treat yourself at Starbucks?

Photo by Andrea Piacquadio on

Moms love to save their money but as you know, we also want to have those “Me moments” where they can indulge ourselves a little without neglecting their family’s needs. Don’t worry, with just a few smart choices you can save money and still enjoy those small moments of bliss that keep you going day to day.

In fact, this year I’m using the 52 Week Savings Plan system to save up to pay our family’s expenses so my husband can take a week’s vacation time at the end of the year. As a bonus I’ll be able to pay for gifts for Christmas 2021 without having to turn the bank account balance to $0! It’s true.

The best news? It’s actually not that complicated, and I can explain this system in the next few minutes!

In this post you’ll find out more about:

  • What is a 52 week savings plan?
  • How easy it is to start your own 52 week savings plan
  • Tips on how to make money to help you reach your goal
  • Benefits of having a savings plan.

What is a 52 Week Savings Plan?

The title says it all. It’s a 52 week plan to help you save. There are a few methods on just how to do this, but the same principles apply. At the end of each week (or beginning) you set aside a small amount of money to be used at a later date. The more you save now the more you can have later, but even a $10 per week savings can add up over time. That’s $520 without thinking much of it.

Note: Some people like to call this a challenge, but I’ve changed it to a plan instead to encourage you to keep with it. By using the word challenge I feel like it’s supposed to be hard, but a plan is just that, something that you’re planning to do this year to save money.

Increase Method

I’m not sure that this is the official tile of this type of savings, but it does describe the way the amounts are structured for this type of plan.

The 52-week saving plan is simple. It works like this: 

  • During the first week of the year, you save $1. 
  • During the second week, you save $2. 
  • During the third week you save $3. 
  • You stop when you reach $52.

This method will get you about $1,378 in savings by the end of the year.

Decrease Method

The opposite of the Increase Method, this one starts you off big and goes to small.

The 52-week saving challenge is simple. It works like this: 

  • During the first week of the year, you save $52. 
  • During the second week, you save $51. 
  • During the third week you save $50. 
  • You stop when you reach $1.

This method will get you about $1,378 in savings by the end of the year.

Random Method

This free flowing method plays to the fact that some weeks you might have more money than others.

You can use the $1 to $52 increments, but this one also allows you to up the amount you want to save easily.

I’m using this plan and it breaks up $2000 into 52 different amounts to pay during the year. As long as you fill up each box or line over the next 52 weeks you’ll end up with $2000 in your savings.

The most amount you’d pay during one week is $60 and the least is $7. With random amounts you get to pick what you pay.

Other Savings Plans

Picking any amount and saving it consistently will add up over time. I’ve heard of people saving $5 bills every time one ends up in their wallet. This can add up quickly if you use cash a lot.

Starting your own 52 Week Savings Plan is Easy

What is your why?

When I was a fitness coach a few years back they always asked us to make a firm statement of what our why was. For fitness I want to be fit so I can feel better in my clothes, be more healthy, and be able to participate in my kids lives without feeling awful before, during or after.

My decision to start a savings plan this year, my why, is because I (as I mentioned above) want to be able to pay for Christmas expenses this year, including vacation time and gifts for the family without having to stress out about my bank account. It’s all a part of my Word of the Year consistent. If I do this savings plan consistently this year I should be able to have enough money so that my end of the year is more joyous than it has been in years before.

So, step one is to pick a why or a goal as to what you are saving for. Is it to pay bills at the end of year, or is it to afford something you want to buy but currently can’t afford? Is it to pay off a debt that is hanging over you?

Any of these ideas are great. Just pick one and stick to it.

Write it on a piece of paper and put it somewhere you can see it so you remember when you’re putting aside those extra dollars each week that you’re working towards something great!

When should I start my savings plan?

There isn’t a specific date that you should start this journey.

As with all financial matters, saving is always tter. While many people choose to do this over a full year from January to December, you can start this plan any time of year. Just pick a day (I suggest payday) to set aside some money each week.

How can I start?

  • Pick an amount you want to save.
  • Pick a method in which you want to save.
  • Find a place to put your savings.

What if I don’t get a weekly paycheck?

If you’re paid monthly or other times of the month, simply make a decision to pay your savings plan just the way you’d pay any bill. I find it’s easier to do it the moment we as a family get paid, but if needed, save your amount when it’s most convenient to you.

Do I need a savings account?

I’m sure experts would say to put this money in a savings account and earn a little extra interest on your money, but it’s not a requirement. I have mine hidden away on a shelf in my room where I can easily make deposits but it’s not in plain view where I’d want to spend the money in it constantly.

What if I have no money to set aside?

Don’t feel pressure on how much you have to save. Even if it’s the change from your last purchase, put it aside and save it for a “rainy day” as they say. I bet if you were to clean out the spare change from your purse, bag, or car you’d come up with at least $2 or $3! Instead of spending that on something else, put it in your savings.

Remember when I said you didn’t have to give up Netflix or Starbucks? You don’t have to! Just put aside what you can and if you feel those are things you can get along without having then go ahead a use that money to boost your weekly savings deposits.

More Tips on How to Make Money to Help You Reach Your Goal

  • Evaluate your expenses and see if you can cut back a little. Knowing your why will help you make these decisions easier.
  • One quick way to save money for our family is to take Hydroflasks with us when we go out instead of water bottles. Yes, $1.89 isn’t going to kill my bank account to pay for a bottled water, but that $1.89 would be put to better use this Christmas when I go to buy my kid a present! You don’t even need to buy a more expensive water bottle, simply reuse one you’ve purchased before and set yourself a timeline of when you might buy another fresh water from the store.
  • Other financial gurus say to look around and find something that you aren’t using to sell. Do you have 17 pairs of shoes sitting around? You could sell them for a couple bucks each on the internet and you probably wouldn’t even miss them! Currently I have an extra mirror up on Facebook marketplace for sale. Not only this going to declutter my house, but the extra $40 will be a nice little addition to my savings!
  • Use your google calendar like a pro and to do list to save your sanity to help you remember to save!

What are the benefits of the 52 week savings plan?

It doesn’t take a genius to figure out why having a little extra money in your pocket at the end of the year would do for your finances and your mood. No one ever was worse off by having some savings lying around.

While this won’t pull you completely out of debt in most cases, using this method will jump start your way to really examining your finances. It may lead to another year of savings that will help you pay off debt, pay for sports for your kids or be able to afford that new washer and dryer when yours happens to fail.

Dave Ramsey is a finance guy who always talks about having $1,000 emergency fund. This would be a great way to build that up.

Don’t Forget!

You don’t have to spend all your savings at once! Having a coushin for your bank account balance is just as helpful as paying for something outright! In this day and age of COVID causing work hour cuts or delays, it’s better to have money set aside than not!

If you loved this post, be sure to check out other Money Matters blog posts that expand on money saving topics this year! I’ll revisit this topic for sure at the 6 month and year marks and update you on how my 52 weeks of savings plan went for me this year!


Published by Patty Gordon

I’m Patty Gordon, a 40+ year old school lunch lady married to a crane mechanic. Our days are anything but normal as he works “construction worker hours” and I take care of our two elementary school aged kids, Chihuahua Mr Biggs, Pitbull Cali, and French Bulldog MooMoo. I blogged a few years ago under different names but have landed with the name this time around. The term 365MomMe comes from the idea that I’m a mom and I’m me 365 days a year. Kids call me Mommy but I see myself as MomMe.

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