Last January, I came across a few blog and facebook posts about the “52 Week Challenge”. I’m sure most of you have heard of this by now. You put a dollar amount in an account/jar that corresponds to the week number. I’ve put a chart here to better explain.
The Banker and I both contributed, so we did the challenge x2. With the interest we earned, plus added a little extra at the end of the year, The Banker and I put $3,000 from this challenge into our TFSA. And you know what? We didn’t miss spending it at all! This year, we’re going to do the challenge backwards (starting with $52 and working our way down). We’ve decided to do it this way because we’ll have a higher balance from the start, earning us more interest. Hopefully we’ll be able to contribute even more this year.
We plan to use this money for our wedding or a down payment. J Have you tried the challenge? What are your thoughts?