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02nd Jan 2018

This new challenge could save you almost €1,500 per year

Michael Lanigan

money mules

A life hack hack.

You’ve probably heard of the 52 Week Challenge and tried it too.

It involves saving money by putting aside €1 in the first week of the year, €2 in the second and so on, until you have reached week 52. Eventually, you should have saved €1,378.

Although in many cases, the likelihood of this happening is slim, mostly due to the fact that Christmas coincides with the four weeks during which you are supposed to set aside €49-52. Many people don’t have that kind of money to be stowing away at that time of year.

Luckily, an alternative approach has been hatched, which could save you €1,456. So, if the idea of a more achievable challenge doesn’t tempt you much, then surely the prospect of the extra €78 should.

The 365 Daily Challenge was thought up by Apartment Therapy and has been shared widely online since it can save you €28 over the course of a single week.

What you do is simply set aside €1 on the first day of the week, €2 on the second and so on. Once you put away €7 on day seven, the cycle restarts making you €112 richer per month. Another added benefit is also the fact that it is easier to remember, since it becomes part of a daily routine.

The only downside is the fact that if you already started the 52 Week Challenge, and felt pretty good about dropping the first coin into the jar, you’re unfortunately going to have to get the €2 out six days earlier.

Yes, the struggle is real sometimes.

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Life Hack,Money