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SavingSteve's 52 Week Challenge Thread

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  • Originally posted by scfr View Post
    How are you doing? Have you been able to keep saving?
    Hi scfr thanks for asking. The short answer is yes I'm still saving. But it's been a rough year. In the first quarter at work my hours got cut back. Things are back to normal now but it was a shock after 12 years of heavy overtime to suddenly get cut back because some bean counters at the company have an ambitious target. It was a big wake up call that overtime happens but is not guaranteed.

    My plan to add $100 each week to the challenge amounts went completely out the window, and I stopped the weekly challenge for about 12 weeks while I re-adjusted my spending habits and budget. Over the past two months I've gotten caught up again, but I've used the original challenge amounts as written on the sheet. This is in addition to my 401k savings which were never stopped, I just took a break from the challenge.

    With that being said - it's week 44 and I saved $42

    The new forum looks more modern but I miss the little walking guy smiley.


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    • Originally posted by SavingSteve View Post

      Hi scfr thanks for asking. The short answer is yes I'm still saving. But it's been a rough year. In the first quarter at work my hours got cut back. Things are back to normal now but it was a shock after 12 years of heavy overtime to suddenly get cut back because some bean counters at the company have an ambitious target. It was a big wake up call that overtime happens but is not guaranteed.

      My plan to add $100 each week to the challenge amounts went completely out the window, and I stopped the weekly challenge for about 12 weeks while I re-adjusted my spending habits and budget. Over the past two months I've gotten caught up again, but I've used the original challenge amounts as written on the sheet. This is in addition to my 401k savings which were never stopped, I just took a break from the challenge.

      With that being said - it's week 44 and I saved $42

      The new forum looks more modern but I miss the little walking guy smiley.

      How wonderful that you are continuing to save! I'm sorry to hear about the loss of overtime, but extend maximum respect for adjusting to the new realities of your work situation and carrying on with a modified plan.

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      • I'm all caught up to the normal challenge amount now. There will be no additional $100 each week this year but I'll do that in the future.

        This is week 41 and I saved $40.

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        • Thanks for the update. While having to make adjustment to budget and seeing increased costs in some areas where we have no control, it remains important to find a way to continue with this specific savings plan. Good on you

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          • Good that you were able to revamp. I have known many whom completely crashed when regular OT ends.
            It is HARD to revamp but I am glad you were able to adjust. slow and steady still is a win in the savings game.

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            • Hi Everyone. It's been a while since I've posted but I'm still doing the challenge once again in 2019. I've found that by sticking with this challenge I've become kind of addicted to saving. If I don't put 10% of all funds away I just feel bad. The challenge as written has become easy and I'm just going down from 52 each year. The amounts each week are small but since I don't use the emergency fund It's built up considerably over the years. I am also saving in 401k and other accounts and dabbling with government securities. But the 52 week savings challenge is something I just enjoy using to fill up my emergency fund.

              It's week 16 and I saved $37

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              • Originally posted by SavingSteve View Post
                Hi Everyone. It's been a while since I've posted but I'm still doing the challenge once again in 2019. I've found that by sticking with this challenge I've become kind of addicted to saving. If I don't put 10% of all funds away I just feel bad. The challenge as written has become easy and I'm just going down from 52 each year. The amounts each week are small but since I don't use the emergency fund It's built up considerably over the years. I am also saving in 401k and other accounts and dabbling with government securities. But the 52 week savings challenge is something I just enjoy using to fill up my emergency fund.

                It's week 16 and I saved $37
                SavingSteve, whats been your biggest barrier so far? Goals? A lack of motivation?
                james.c.hendrickson@gmail.com
                202.468.6043

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                • Originally posted by james.hendrickson View Post

                  SavingSteve, whats been your biggest barrier so far? Goals? A lack of motivation?
                  I'm saving regularly but wish I could do more. The biggest barrier to saving more is the high cost of living in Los Angeles.

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                  • Ok I just came across this post and I'm wondering what the 52 week challenge is? is it saving as much as you can in 52 weeks or is the one where you save a certain amount each week for 52 weeks to reach a certain amount likw week 1 you save $1 week 2 you save $2 etc...just wondering

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