Probably in the top 3 best new year’s resolution anyone can make is committing to saving money, behind getting healthy, and getting organized. The problem with committing to a new years resolution is “seeing results fast”. We all want that instant gratification of knowing we are getting somewhere.
Well, with this challenge, not only will you see the results snow ball, you will gain more momentum in excitement as you watch your money tree grow. Cool thing about this challenge is, in the end you win no matter what.
Bank rates’ version of the challenge will land you $1378 at the end. That nice little nest egg could go towards a vacation, home repairs, education, or just investments and emergency funds. Choice is yours.
What are the challenge guidelines?
In a nutshell, there’s 52 weeks in a year, each week you convert the corresponding week # into $ in your deposit into your savings starting with $1 on the first week.
Match each week’s savings amount with the number of the week in your challenge. In other words, you’ll save $1 the first week, $2 the second week, $3 the third week, and so on until you put away $52 in week 52. You can also get creative with the amount you save each week if you’d like to save more over the year or you don’t have enough extra cash available for the regular challenge. –bankrate.com
If you stick to this challenge throughout the entire year, you’ll save a total of $1,378.
Look at this beautiful curve! And it’s all yours..

Where to store your savings?
I’m glad you asked. I’ve compiled a list of account to consider if you do not already have a saving account. You see, there’s an opportunity here to magically earn more than expected. Yes, that’s right, at he end of the year you stand have a little bit more than $1378 if done right. Meet the 8th wonder of the world, compounding interest.
- High-yielding savings accounts are the way to go as far as simplicity. these days its not hard to find a bank offering 1.70% APY (annual percentage yield). Tradition banks like Chase, Bank of America, Wells Fargo only offer 0.09%APY. Meanwhile online banks have a lot more to offer. We’re talking 2.00% apy + no minimum deposits on sum accounts.
What To Look for:
- High APY
- Low Fees
- Flexible deposits and withdrawals
2. High Liquidity Investment Accounts such as Robinhood, M1 Finance, and Webull. All 3 are very easy and intuitive to use, especially their respective phone apps. You can click each for the full review of there pro & cons. But trust me its mostly pros, they have quick become household names for a reason. moving money in and out of these accounts is very simple and easy. best part is, there’s little to no fees unlike savings accounts. Though its worth mentioning M1 finance (my personal favorite) does have a $100 minimum deposit.
Game Plan
- Open a high yielding account
- Set calendar reminders on your phone to keep you on track
- Plan your deposit close to your pay dates. I would suggest depositing for future dates whenever possible(things may come up)
- Always pay yourself before paying your bills, and other obligations
- Challenge someone else help each other stay motivated, especially if your married.
Follow Along: 52 Week Savings Comparison
Stay tuned will be revisiting this challenge quarterly every 13 weeks. In our test we will deposit funds into a typical high-yield savings account and highly liquid Investment account both. Our goal is the show you the performance difference of an investment account versus a savings.