New Year, New Me: Saving Up

in All About the Money by

The start of a new year offers a fresh start, an opportunity to change for the better. Looking back at how I spent 2014, I find that there are a lot of things that I could improve on to make 2015 better and more enjoyable.

Admittedly, I am very bad at handling money. To be more blunt about it, I lack discipline when it comes to spending money. I don’t own a credit card so at least I don’t spend more than I can afford. However, I often unconsciously revert back to my impulsive buying days that I thought I had already put behind me. In most cases, I end up losing money I can’t account for (baffling, I know!).

So I would really like to open up another savings account that I would like to see grow by year end. Seriously, how nice and cool (and empowering) would it be if I can manage to start and grow my own personal savings?

It turned out everyone in the office also wanted the same thing so during a break we discussed the 52-Week Money Challenge, a money-saving scheme that promises great results by the end of the year. Granted, of course, that one keeps at it and saves religiously like s/he is supposed to. This strategy seems like the craze since last year because my social media wall is just littered with testimonials and what-not about it.

At the start of the 52-Week Money Challenge, you will put P50 in his piggy bank or money jar. You will then add twice that start-up amount the following week, thrice in the third week, and so on until the 52nd week, by which time you will add P2,600 to your total savings. By the end of the challenge, you would have saved a whooping P68,900! How cool, right?

Just thinking of the possibility of having that kind of money at the end of the year is enough of a motivation for my workmates and me to jump into this money-saving ship. We’re doing this, we said! More importantly, I’m doing this!!!

Wish me luck, everyone!

Photo Credit: Inspire52



  1. Yay! We are on the same boat because I am planning to do that 52-week money challenge as well. My husband and my son will join me too. I am thrilled with the money I can save if I will succeed with the challenge 🙂

    • I may rejoin your reaction here and wish the best that you and your son could make on this 2015 as far as 52-week savings challenge. That's very true that in every challenge to be involved with, there's excitement, thrill on how you could accomplish it after overcoming shortcomings along the way. And you'll feel complete,, happy and blessed when you succeed. Goodluck! (2nd of 2 comments – Gil Camporazo)

      • I agree with you, Sir Gil! It takes commitment to complete the challenge despite of the obstacles in the future. I must stay strong if I want to succeed.

    • I also included all four of my children. It's never too early to teach a child the habit of thrift. I would be blogging about it sometime.

      Ohhhh, I am soooo excited, I hope we can complete the challenge!

  2. Good luck on your saving goals! I also need to sit down and fix my finances. I do not think I would be happy with the outcome. I am also determined to pursue another investment channel and add another income stream.

    • I'm not saying the 52-Week Money Challenge is the only way to do this, but I think everybody should learn to tighten their belt! We should start planning and saving for our future.

  3. I too would like to tighten my belt on spending this year. I tried accounting for all my spendings every month and the bulk of it would be from restaurants, things I would purchase mindlessly only because I found it cute, hahahaha. Good luck. This is truly encouraging!

    • I'm really bad at accounting so I always end up wondering where I spent my money on. Now that I've decided to do the 52-Week Money Challenge, at least I am able to plan my expenses in advance. I have even specified how much of my salary would go to my regular savings and the challenge.

  4. Last year, we planned to have the same challenge. Unfotunately, by half of the year, we were not able to sustain the challenge due to some needs and we only had a fix amount to be added every month.

  5. Nobody could wish you luck in such saving project. It is not based on luck. It is what you do, what you discipline yourself that really counts. In short, it is your attitude to survive, getting things end meet and be prepared on rainy days. Please don't misconstrue me. Do it and I know you could do it till the end and save more.

    • This challenge sure does not involve luck. It's more about commitment and discipline. I never learned the value of thrift growing up (my mother is so kuripot, I don't know why I'm not).

  6. I'm a personal finance advocate myself so this post makes me happy. Congratulations in doing so. I hope you tie a goal on each of your savings and investments, so you'll know what each fund is for. 🙂

    I'm assuming you are saving for your emergency fund! Good luck sis. Please do venture into investment soon na din. 🙂

    • That's so wise of you to choose a more manageable amount. Napasubo ako because I chose higher increments (yes, I have two money jars for the challenge) so I have to work much harder to complete the challenge.

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