A Money Saving Failure

On the first week of January 2014, the hubby and I have decided to take on a money saving challenge. You may be familiar with it or may have been doing it also. It’s popularly known as the 52-Week Saving Challenge. I am sad to report that we FAILED the challenge.

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We only made it until the 18th week (April 30 to May 6, 2014). After that time, we gave up. We accepted our failure and just charged everything to experience. I can’t believe I’m blogging about this just now! I’ve gotten so busy in the past months, you know. (Naghanap pa talaga ako ng excuse!) Haha.

If there’s one good thing that came out of this challenge, we were able to use the money we saved in enrolling the hubby in graduate school last July. It’s an investment in itself; it’s something that we would benefit greatly from when the right time comes.

The challenge, therefore, didn’t really go to waste. We even learned something from it. That doing a challenge (financial or otherwise) is a serious thing. You don’t just say you’re doing it. You have to be prepared in all aspects. In our case, we thought we could do it. But some unexpected expenses came up and we had a sort of change in financial priorities that we were left with no choice but to stop. And so the challenge ended abruptly.

Now, we know better. 🙂

P.S. I once read from a certain blog about the sentiment/complaint of some people doing the 52-week saving challenge. It was mentioned there that it’s hard for them to save money, especially when you have to start saving small then the amount gets bigger and bigger each week until you reach the 52nd week. That it can eventually put a strain in one’s finances. What they think is more feasible is when you do it in reverse — start saving big then the amount gets smaller and smaller each week until you reach the final week. Hmmm, what do you think about that?

May you choose happiness always,
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16 Replies to “A Money Saving Failure”

  1. I did posted something about “The Problem with 52 week money challenge” and I also did suggested that ” if you are hellbent on doing the challenge then why don’t you reverse it-start from the bottom then work your way up, that way, by the time holidays kick in, it’s not going to be too hard”

  2. i have my own version of this pero small amount lang para mas realistic at attainable. Sa dami kasi ng expenses minsan di nakakahulog sa lalagyan kaya bumabawi nalang sa ibang weeks. Ok lang yan edel, the money was used naman ng maayos at di lang sa wala e.

    And you’re right, start with big amounts, kung meron, para mas magaan habang tumatagal. Start ulit sa savings challenge next year! kaya natin yan!

  3. Ako rin, I failed that challenge. But that’s the thing with failure — you can always start anew. 🙂 So nung medyo nagluwag ang finances ko, nag-start uli ako, changing the end time to May, when the money can be used for enrollment and school supplies. 🙂

  4. I hate to admit it, but we failed too! I was planning to catch up, but I realized that it’s already October and too late to do so. Na-TV pa naman ako dahil sa 52-week challenge! =)) But the money that we were supposed to “save” went to paying for our house, so I guess it didn’t go to waste. We thought we could handle the downpayment, but the miscellaneous and processing fees, both from the developer and the bank went beyond our budget. Ayan nagpalusot din ako! :p

  5. too bad. you can always start again next year. 🙂 as for me, i just know that if i took up that challenge, i would fail right away (LOL!), because it’s so difficult to stick to a plan when there are so many variables involved — unexpected expenses, calamities (which happens more often than you’d expect), family obligations, etc.

  6. I failed too Edel!! huhuhhu! I thought I can make it although I started around march na ata di pa din kineri ng powers ko! Hehehe. Anyway, like ko ang suggestions na start bigger tapos paliit ng paliit. hehehe! Ma try nga! =)

  7. Found your blog thru Jerellt. 🙂 I remember your name, you left a comment on my blog. Hehehe! You have a unique name that’s hard to forget. Anyway…. I failed on week 4!! Super fail. I think the amount should be the same all year round! Hahahaha! Ang hirap mag catch up eh. Change of lifestyle na. 🙂

    1. Hi Reigne! Yes, I know you and I read your blog. I still check it out occasionally. I even know that you now have a cute baby girl! 🙂

      P.S. Haha, ok lang na nagfail sa 52-week, at least we tried it at may natutunan tayo. 🙂

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