TGFG Challenge: 52-week Money Challenge (2x)

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The pandemic made it hard for many to consider saving last year due to jobs loss, hours cut or other life challenges.

As we started this new year, I’ve decided to challenge myself financially. I actually have a list of money-saving challenges I wrote down on my journal such as:

– Build my emergency fund
– Pay down my debt
– No spending for 6 months
– Max out my Roth IRA
– Increase my income stream

Since this is the first TGFG challenge I wanted to start with what I consider an easy challenge that hopefully many of you will be able to do it as well.

It is the 52-week Money Challenge (2x). Here’s how it goes, each week you save the allotted schedule. Week 1 you deposit $1, Week 2 will be $2, Week 10 will be $10. You get the point. By the end of the Challenge, week 52, you should have $1378 saved.

But in my case I will be making a twice the deposit weekly or a lump sum monthly deposit. That’s where the 2x comes from.

You can download the 52-week Money Challenge (2x) chart here.

I will use my Fidelity Brokerage account for all deposits.

Remember, there’s no easy challenge but with some discipline and sacrifices it’s definitely do-able.

Let us know if you’ll be doing this challenge or when you plan too or if you have done it before.

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