Save $1,378 with the 52 Week Money Challenge

A dollar can go a long way this year.

Just ask Teresa Higgins.

The Boca Raton woman has socked away more than $3,000 using a chart she saw on Facebook.

The 52 Week Money Challenge is a savings chart being shared on the social network. Starting at the beginning of the year, put away $1 on Week 1, $2 on Week 2…$26 on Week 26, etc. You get the idea.


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By Dec. 28, when you make the final $52 deposit, you'll have painlessly saved a tidy sum.

"The first year my husband and I saved $1,378," Higgins says.

"Last year we reversed the chart and threw in extra money from rebates and refunds and saved $1,700. This year, we plan to save at least that."

Higgins made a few modifications.

"We reverse the chart and do the larger amounts at the beginning of the year because we find it harder to save more during the holidays. I make my own chart on the computer and add a column for extra savings. It really adds up."

Another more ambitious variation is the 52 Week Mega Money Challenge. Save $5 a week progressively, and net a whopping $6,890.

Instructions say to put the money in a jar and watch it grow.

Don't do that.

Instead, open a dedicated savings account at the bank or credit union.

Capital One 360 offers a fee-free online savings account with no minimum deposit. It pays .75 interest (as of press time) and is linked to a checking account. Info at CapitalOne360.com.

Transfer the weekly amount into the account, which is what Higgins does.

"We never had saved before this," says Higgins. "The purpose is to save for Christmas. We travel at the holidays to see our grandkids in Alabama, so we use the money for that."

You're only three weeks late and $6 short, so It's not too late to start the challenge.

Print the chart at SunSentinel.com/SavingsChart, open an account and deposit $6 ($1 for the week of Jan. 5, $2 for Jan. 12 and $3 for Jan. 19).

You'll see how far a buck goes on that big payday in December.

What's your deal? Email dchristensen@sunsentinel.com or go to Facebook.com/DoreensDeals.

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