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Last Updated on August 15, 2018

How to Save a Bunch of Money Easily With This Simple Challenge

How to Save a Bunch of Money Easily With This Simple Challenge

Do you find it hard to save money? If so, you’re not alone. A recent survey found that 62% of Americans have under $1000 in savings.[1] This can be disconcerting when we think about the future – buying a house, car, or even much-needed holidays – our desire to be successful in saving money is important to our peace of mind and security. But could there be a simple and easy way to encourage our saving habits?

Video Summary

What is the 52-Week Money Challenge?

A new concept has become increasingly popular that does just that – the 52-week money challenge.

The idea is to focus on each week, starting small, and gradually building up the amount of money you save. It’s not only consistent, but it takes away the pressure of taking big chunks of income each month which, let’s face it, never feels great. Intrigued? This is how it works.

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You start by saving just $1 in week 1. The next week it’s $2, the third week it’s $3 and so on. The idea is that by week 52 when you’ve saved $52 in that weekly period, you will have amassed $1,378.

What Are the Pros and Cons?

The best thing about this 52-week money challenge is anyone can do it. It’s doable and you can adapt it to your needs.

For example, you can reverse the process by saving $52 in week 1 and working backwards. This is particularly beneficial for people worried about having to put away $52 during the end of the year holidays.

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You could even mix the amounts up according to how much or how little you have each week, making smaller contributions when the purse strings are tighter or choose a higher amount when you can afford more. Either way, it’s a solid, simple way to save up a sizeable chunk.

There are potential cons to this challenge. One is that it can be hard if you’re used to handing over your debit card instead of using cash. But setting up a bank transfer could help here.

Want to Try the 52-Week Money Challenge? Here’s How to Get Started

Whether it’s saving for a holiday, putting more towards your mortgage or other monthly or yearly bills, starting this challenge will get you motivated to putting aside those all-important dollars.

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Write It Out

Write out (or print out) a list of each week and the amount to save. Having it as a reference will allow you to see your progress. Cross off each week or each amount you’ve managed to achieve.

Set Up Reminders

Once you’ve reached a few weeks it can be easy to start forgetting to put your money aside. Make sure you set up a weekly reminder on your phone or desktop to help you keep on top of it. Keep the cash jar in a place where you can see it and will serve as a reminder. Alternatively, set up an automatic bank transfer so you don’t have to think about it at all.

Make a List of Ways You Can Save

There are literally hundreds of ways you can save dollars here and there. The first weeks will be easy but as it progresses, finding ways to tuck away $40 or more can get tricky but it’s not impossible.

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Think of ways to cut back or generate money – these could include:

  • Selling unwanted items
  • Making gifts for people instead of buying
  • Switching off your heating for longer periods
  • Car sharing to save petrol
  • Walking instead of driving
  • Negotiating a better contract for your phone, heating or water supply
  • Switching off unneeded lights
  • Cooking big meals and freezing them for future meals
  • Looking for deals or discounts at your grocery store
  • Choosing shop brands over big brands
  • Making your lunch instead of buying it

Once you have a list of practical ways you can save, estimate how much money could could potentially save for each one. For example, buying lunch every day could cost $5-10 so ultimately saving you around $30 a week if you made your lunch instead.

Be Competitive

Why not turn this challenge into one with your friends or spouse? Having someone there to motivate you will spur you on and keep you on track. Have an incentive going like the person who saves the most money gets to choose the next big vacation.

Every Little Helps

The main importance of the 52-week money challenge is that it’s encouraging you to save. If 62% of Americans are not regularly saving then it shows that anything that’s getting you to put a few dollars aside every week is better than not saving at all.

Remember, it’s the small steps that lead to the big progression. Don’t feel discouraged if you can’t fulfil an amount in a particular week, just know that your willingness to put a strategy in place is good enough. Keep a positive mindset and see how it’ll reflect the money you’ll ultimately save in a year.

Reference

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Jenny Marchal

Freelance Writer

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Last Updated on February 15, 2019

7 Clever Goal Tracker Apps to Make the Most of Your Business in 2019

7 Clever Goal Tracker Apps to Make the Most of Your Business in 2019

There’s nothing more fulfilling than the sense of accomplishment you get by achieving your business goals.

Gone are the days when you used pen and paper to take notes and manage your work day. As millennials are relying heavily on technology to manage almost everything from finances to their personal fitness, goal tracking apps are also becoming increasingly popular.[1]

In this piece, we will shed some light on 7 such goal tracking apps that you can use to streamline your operations.

I have handpicked these apps from a software rating web services site Best Online Reviews. Industry experts review software on these websites and help businesses to find the right solutions to meet their various, unique business requirements.

1. Aha!

    Aha! is a California-based roadmap software provider and offers excellent goal tracking app that lets you define goals and objectives for projects. The app also lets you list out primary tasks and allows you to focus on them.

    Hosted securely on the cloud, the app offers enhanced communication tools for sharing updates through emails with select colleagues or the entire organization.

    Aha! is available on multiple platforms such as the web, Android, iOS, Windows, etc. and starts from $59 per month per user.

    Available for Web

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    2. Asana

      Asana is one of the more popular project management apps available for businesses. It lets you organize all your team’s work, such as setting up and tracking goals, creating tasks, sharing files and notes, etc.

      Asana also allows your team to organize all their tasks and focus on urgent priorities. Moreover, the app offers a delightful user experience that makes task management simple and easy.

      Asana is available on multiple platforms from PCs and Mac to iOS and Android. Multi-channel adaptability makes Asana the perfect choice to track your goals anytime, from anywhere.

      Available for iOS | Android | Web

      3. Basecamp

        Basecamp is an excellent tool to manage all your team’s projects and keep your activities organized. It opens a new thread for every task and that task is visible by the whole team.

        With Basecamp, you can schedule tasks, add to-dos, discuss tasks by adding comments, add files and attachments, and much more.

        The app is available on both mobile and desktop platforms and costs $99 per month. It is available on the web, Android, and iOS platforms and offers excellent multi-channel access.

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        Available for iOS | Android | Web

        4. Forecast

          An efficient tool for successful task management, Forecast is also a popular goal tracking app. Apart from effective milestone tracking, the app also offers convenient status reporting.

          Forecast uses project history to let you know the status of your current work. Moreover, it uses the power of artificial intelligence (AI) to provide high-quality assistance. It is a robust app for small teams to track goals and time.

          Forecast is available for free and comes with Android and iOS app support. The premium version of the app starts from $19 per month per user.

          Available for Web

          5. Wrike

            Wrike is a cloud-based collaboration and project management app that successfully manages projects from start to finish. It lets you create tasks, track work progress and retrieve reports with ease.

            The app also gives real-time work updates and helps team members to understand their work priorities. A custom report builder helps you to generate in-depth reporting.

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            Wrike’s premium version is available from $9.80 per month per user and is available on multiple platforms.

            Available for iOS | Android | Web

            6. Todo.vu

              Todo.vu is a unique platform that delivers enhanced customer relationship management (CRM), task management, time tracking, and billing functionality in a single app.

              According to Capterra, it’s an ideal app for freelancers and consultants, who are looking for tools to improve efficiency and transparency.

              Although the app is free to use with basic features, the premium plan starts from $5 per month per user. The app also comes with calendar sync and task reminder functionality to keep you on track, always.

              Available for Web

              7. Flock

                Looking for a tool to simplify task management? Try out Flock.

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                Flock comes with enhanced goal tracking and additional features like instant messaging.

                Moreover, Flock offers tons of integrations with tools such as Google, MailChimp, Jira, Dropbox, etc. It is a powerful tool that’s packed with robust features such as reminders, notes, polls and to-dos.

                Even though you can use the tool for free, the paid version of Flock is available from $4.50 per month per user.

                Available for iOS | Android | Web

                Conclusion

                Businesses need high-quality project management tools to streamline collaboration and operations. Enhanced goal tracking apps make it easy for your team to improve productivity by keeping its tasks organized.

                But it’s essential that you choose an app that meets your unique business requirements. You can choose from the above-mentioned apps to streamline operations and improve the productivity of your team.

                Featured photo credit: Alvaro Reyes via unsplash.com

                Reference

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