Twice a Month Challenge (click on image to print)
This was actually a bit more difficult than it appears. Much like with the monthly money challenge, 24 amounts means that there are 4 extra weeks which need to be added to the challenge. The standard way to do this would be to add the extra week when it happened throughout the year, but this made for a strange challenge. Doing it this way meant that some of the earlier months required a higher payment than the month after them. I decided the best way to put it together was to add the extra 4 weeks at the beginning when the amount needed to place toward the challenge was small.
Even doing it this way caused an earlier month to be a larger amount than a later month, so I ended up switching it around to make the flow better. In other words, it was a mess, but I kept with the small to large flow intent of the original 52 week money challenge. I also made sure that when all the numbers are added up, it still come to the same amount of $1,378. While certainly not perfectly done on how it should have been created according to the bi-monthly calendar, I believe it fits more closely to the intent of the original challenge.
This, of course, is if you follow the standard version of the challenge. Personally I believe that the alternate version works much better for these challenges since it helps alleviate the issue of the largest amounts needing to be paid toward the end of the year when many people are strapped for money due to the holidays. In the alternate version, the amounts are all listed at the bottom, and you choose the most you can pay for that particular pay period. This gives you more flexibility, and allows you to pay the larger amounts when money isn’t quite so tight.
Twice a Month Alternative Challenge (click on image to print)
Explore Options To The 52 Week Challenge
Finally, there are a number of different options for those wanting to attempt a 52 week challenge. Looking through them all can help solidify which would best work for your personality and saving habits. Below you can find a number of different variation to consider.
Balance The 52 Week Money Challenge With Passive Savings
Finally, if you want a more passive approach to saving money, consider using a savings application like acorns.com or digit.co. Digit.co in particular is a terrific application for passive savers. When you sign up online, the software analyzes your checking account balances. Then, over time, it deducts a small amount and adds it to your savings – don’t worry, you won’t bounce any checks. The idea is that you just passively let it run for a year or so, then check the balance. Its a great passive accompaniment or alternative to a money challenge. Click here to check out digit.co.
From Around The Web
If you need some motivation, here are some excellent stories of people who saved tremendous amounts of money.
Businessinsider’s article on 11 people who went to tremendous lengths to save money.
Money Mozart has 17 stories of insanely smart people who saved a ton.
CNBC has a great article on nine effective strategies to save half your income.
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