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Home > Setting up the 52 Week Challenge via Direct Debit

Setting up the 52 Week Challenge via Direct Debit

January 15th, 2015 at 10:41 am

While I love the idea of paying a different amount each week and ticking it off against the appropriate week, the reality is to really make the 52 week challenge work I think it would be best to simplify it by dividing up the payments equally and setting up an automated direct debit, that way there is less leeway to shift amounts and shift weeks when it is an expensive week.

The reality is we need some savings, so I don't really want to have any excuses for delays/reductions, whatever.

I read something a while ago which said "save first, then spend what is left over not the other way round" and I think there's way more than a grain of truth there.

So tomorrow I am setting up a weekly debit for a total amount of $106 to be withdrawn weekly from our bank account, with the end goal being a minimum of $5512 saved up by the middle of January next year.

Let the 52 week challenge officially begin!

4 Responses to “Setting up the 52 Week Challenge via Direct Debit”

  1. scottish girl Says:
    1421322879

    Good idea!

  2. creditcardfree Says:
    1421328277

    I definitely recommend this! I did that last year $57 twice a month debited from our checking account to a savings account. The money ended up paying for my daughter's band trip. The more you can automate the better!

  3. PNW Mom Says:
    1421332267

    Good luck!

  4. VS_ozgirl Says:
    1421356879

    Thanks guys!

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