$5000 Savings Plan Challenge

We just keep on coming with the Savings Challenges on Be Secure Financially!

Okay, so this one might seem difficult for many; but we want you to know there are different ways you can save throughout the year depending on your budget and goals.

We gave you the Pennies Savings Challenge, the $20 Challenge, the Reverse Challenge...now we have the $5000 Savings Challenge ready for you.

You might be thinking, if you have that kind of money, why not just put the $800 a month right into the account?

Well, the reality check is that even for those with extra money, putting $800 in one lump sum can still seem difficult. However, depositing weekly amounts up to $204 can be just a bit easier for their pocket book or state of mind.

$5000 Savings Challenge

This $5000 Savings Challenge can be great for those building up to a down payment for a home, paying off less than $10,000 in credit card debt, or building a good "nest egg" emergency fund.

So, how does this savings challenge work?

You start with $4 the first week, $8 the second week, $12 the third week and keep increasing your deposit amount by $4 each week. Over one year (or 52 weeks) you will be depositing between $4 and $204 each week into a designated savings account.

At the end of the year, you will have $5512.00 in one account!

$5000 is a lot of money and one that can realistically be reached if you stick to this savings plan. Can you imagine this time next year having an additional $5000 socked away? We think that sounds fantastic!

Happy Saving!