The concept is fairly simple. Each week you save the number of coins that corresponds to the week of the year. For example, in week one you’ll save 1 coin. During week two, you’ll save 2 coins. When you reach week five, you’ll save 5 coins, and the last week of the challenge, you’ll save 52 coins. The twist with this challenge is that the coin value is not predetermined. You aren’t saving only quarters or only dimes or only nickels. The coins that get saved can be any combination of different coins. For example, during week five you might save 1 penny, 1 dime, 2 quarters and 1 half-dollar. You could also save 3 pennies and 2 nickels. During week five, you can save any combination of five coins of your choosing.
Coin Challenge for Kids (click on image to print)
Since there isn’t a predetermined value which needs to be deposited (just a set number of coins), there isn’t as much of a need for an alternate version as there is with other 52 week challenges. That being said, it’s always good to have options, and the alternate version can be a good way to tailor this challenge exactly the way you want it to be.
Coin Challenge for Kids Alternate Version (click on image to print)
If you decide to do one of the many money challenge versions out there this year, this can be a wonderful companion challenge for your kids to do as well. It helps to make saving money a family affair. It also gives you a bit of quality time with your child to teach some of the basics of saving. If you can help your children get into the habit of saving from an early age, it’s a skill that will be of great value long after they become adults.
Jeffrey strain is a freelance author, his work has appeared at The Street.com and seekingalpha.com. In addition to having authored thousands of articles, Jeffrey is a former resident of Japan, former owner of Savingadvice.com and a professional digital nomad.