Have you heard about the 52-Week Money Challenge that has been published all over the internet? It is an easy plan to help someone establish a savings account and to help people who have difficulty saving money actually have a method to SAVE money. I have had several friends and family members tell me about this challenge and I think that this plan is a great way for someone to establish a savings account.
The challenge is quite simple but you must have the discipline to follow the challenge each week. If you follow the 52-Week Money Challenge you will save $1,378 in a year. You can do the challenge two ways, start from Week 52 and work yourself backwards to save the most now or start with just a $1 in week 1 and increase your savings amount each week. Here is a chart to help you understand how the 52-Week Money Challenge works:
If you are like so many others who have trouble physically making deposits to a savings account, setup a weekly draft online so your bank will do it for you.
For clients in bankruptcy, the 52-week money challenge is a great method to help them save money while in bankruptcy. If someone is filing chapter 13 and starts this 52-Week Money Challenge at the same time and follows it every week while in chapter 13, they will have saved $4,134 to $6,890, over a three to five year timeframe. Since an individual is unable to incur debt while in chapter 13 without first getting the court’s permission, this savings plan helps individuals in chapter 13 develop an emergency fund.
Don’t waste any time, start the 52-Week Money Challenge today to start your family’s savings plan.
At Bond & Botes, we are attorneys providing financial solutions. If you are unable to start the 52-Week Money Challenge because you are buried in debt, don’t hesitate today to contact your local Bond & Botes office to schedule your free consultation today.
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Mary Pool is a shareholder of the Bond & Botes Law Offices in Montgomery and Opelika, Alabama. She holds a Bachelor of Science from Auburn University at Montgomery, and a Juris Doctorate from Faulkner University’s Jones School of Law. She has represented thousands of clients over her more than 11 years working in the bankruptcy field. Read her full bio here.