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Two hacks to simplify the 52-week challenge

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Our cute House Piggy Bank given by my mother to me and my girlfriend


What is 52-week Challenge

The 52-week challenge is a weekly saving challenge that runs for a total of 52 weeks or a year. It was one of the trending topics in Philippine social media in the late 2016 after a lot of people who have completed the 2016 challenge posted their success saving a lot of money.

The idea is simple, you have to choose an amount to save every week like 5 pesos, 10 pesos and so on. After choosing an amount, like, say 10 pesos, you have to multiply it by the order of the week, sample 10 x 1 for the first week, that's the amount you will be putting in your piggy bank in the first week of January, 10 x 2 for the second week, and so on until the last week which will be 10 x 52 which is equal to 520 pesos, that is the maximum amount you will put to your piggy bank on this saving challenge.

At the end of the challenge, if you have chosen to save 10 pesos per week, you must have saved a total of 13,780 pesos, not bad right? You can buy a nice smartphone with your savings then, but it's better to save the savings, or best invest maybe for a higher return. But whatever you want, I know you have planned about it so stick to your plan and complete the mission for you to be happy.


The Hacks

One thing we noticed about the challenge is, you are saving little amount during the starting period and bigger amount during the near end of the 52 weeks. That maybe part of the challenge to keep the momentum but I thinks that doesn't affect on the attitude of the people who have accepted the challenge because that's their decision and they would stop and or continue whenever they want to. So I think it's a good idea to make this challenge easier.

For me, I would be fair to all the weeks, so I would simplify this challenge. I have two ideas on how we can reinvent and hack this out and to simplify this 52-week saving challenge:
  • Be Fair to all the Weeks - Instead of saving small amount in the starting week and bigger amount in the near end, why not save an equal amount for all the weeks? So if we can save a total of 13,780 for a 10 peso weekly saving after 52-week challenge, that means the average saving per week is 265 because 13,780 / 52 is exactly 265. That's if we decided to go for the 10 pesos weekly. If you 
  • I won't use a Piggy Bank Anymore. I will save Online - Isn't it unique? You won't bother hiding your piggy bank in your cabinets at home, plus it's just a tap away from your finger and you've got a rescue whenever you need them. I think the primary reason to save in piggy bank aside from each of our goals is of course to have an emergency fund. Our piggy banks are always to the rescue if we need cash badly, but we can't get cash on them when you badly need them in school or while on your way home, right? I think it's better to save our money online for more convenience. I will try to save it in my CoinsPH Online Account because it's FREE, easy and more convenient. You can read more on how to start your CoinsPH account here.
Actually I have three ideas to maximize this saving craze, the third involves risks but if lucky enough, we can save more than the calculated 52-week savings without increasing our weekly savings.

Since I will be putting my savings online in my CoinsPH Wallet, I will have the chance to invest it in Bitcoins. So I will try this thing out and hope to succeed at the end of the year and update this post if this works fine. I hope we'll be lucky enough to succeed on our hacks and save more, share if you have some hacks to add.

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