Are you looking for a 52 week money challenge with $20,000 as a savings goal? This $20,000 in one year savings challenge might be perfect for you!

$20,000 In One Year Savings Challenge Video Review

Using a money savings challenge can help you save more money than you otherwise would without a plan.

Saving up $20,000 in 52 weeks with a money savings challenge is definitely possible. Saving up this amount of money could help you build an emergency fund, pay off debt, or build a down payment for your first home.

With this challenge you’ll have $20,000 saved up after 52 weeks.

Could you use an extra $20,000 in a year?

Would it help you buy a home? Send your child to college? Fund an early retirement? Just having an extra $20,000 saved allows many people to dream of new possibilities.

$20,000 Savings Challenge Tracker

Want to save $20,000 in one year? This savings challenge tracker is perfect for you! This $20,000 Money Saving Challenge is designed to help you save up $20,000 over one year with multiple different savings plans.

Why Do A 52 Week Money Challenge?

Saving money can be hard for many people especially when the amounts get larger.

Doing a 52 week money challenge to save $20,000 allows you to strategically save up the amount over a year.

Here are some of the benefits from doing a year long money challenge:

  • The saved money. Obviously the amount of money saved up at the end of the challenge is the main benefit. Having your money goal reached is a huge benefit to doing a money saving challenge.
  • Improved relationship with savings. For many people a savings challenge can help them improve their relationship with money and saving it. If you’ve always spent every dime you had available a money challenge might be the thing to change that tendency. You will also be creating a new or better habit of saving.
  • Improved discipline. Saving money is hard. I run a personal finance blog and I still struggle with saving money sometimes because it’s much more fun to spend. Savings challenges can help with this because they force you to be more disciplined with money. Forcing yourself to start and finish the challenge means you’ll develop good routines and discipline over 52 weeks.

52 Week Money Challenge $20,000 Printables

There are multiple 52 week money challenges available in my money printables library bundle but the most popular is this $20,000 in 1 year savings challenge.

Save 20,000 Dollars In One Year | Money Saving Challenge 20K | 20,000 Dollar Savings Challenge Tracker Printable

You can get the 52 Week Money Challenge $20,000 printable in the Pennies Not Perfection shop.

This challenge is designed to give you a certain amount to save each week so you have $20,000 at the end of 52 weeks.

There are TWO different options included in this money savings challenge:

  • $20,000 money savings challenge tracker with random amounts to save each week
  • $20,000 money savings challenge tracker with the same amount to save each week for slightly over 10K

It’s a PDF file you can download, print, and use again and again. You can print it at home or have it printed at your local print shop. To adjust the size you can print scaled to fit the correct planner sizes.

Or you can also upload it to apps like GoodNotes to use digitally which is how I use many of my savings trackers.

Personally I’ve found printing the challenge and putting it up somewhere you see it daily can be very motivating! Creating a wall of visual trackers is a great way to stay motivated financially!

Starting A 52 Week Money Challenge

Many people start savings challenges in January when they are making financial goals and resolutions to save money.

However you can start a 52 week money challenge at any time!

You could start the challenge on your birthday. You could start the challenge a year before you want to buy a home. You could start the challenge any time before you want to save up $20K.

Regardless of when you start you’ll have saved up $20,000 a year from that beginning.

When you start you can follow the challenge in order that the amounts appear on the paper. Or you can skip around the page and tailor the challenge to your lifestyle. Some weeks you may need to save less and others you can save more.

For example, maybe you want to save more in the beginning because you will be motivated.

If you know that January will be your best month then choose some of the higher amounts for each week.

Or you could plan to pay bigger amounts in December when you get a yearly bonus. Then you would start out with the smaller amounts in the beginning of the year.

The most important part is that you get started.

It doesn’t have to be on January 1 and it doesn’t have to be the “perfect” time. You just have to start and be consistent each week.

Easy Savings Challenges (Save $1,000 To $20,000)

Tips For Saving $20,000 In 52 Weeks

After completing multiple savings challenges I’ve found there are a few ways to make sure you are successful. The list of ideas below are tips to help you successfully save during the 52 week challenge.

Follow the savings challenge plan.

Having a clear savings plan with exact numbers to save during the year makes you much more likely to succeed.

That’s why I offer a $20,000 in 52 weeks savings challenge printable. It gives people a clear plan to follow.

If you prefer to find another plan there are also many free 52 week money challenges available online. No matter which you choose, commit to following the savings plan for the whole 52 weeks.

Budget your money every paycheck.

You can spend your entire income no matter how high that income is.

Many six figure earners save no money and never build wealth.

Budgeting your money and knowing how much you have going in and out of your account is critical for success with a money challenge. In order to save money you’ll need to budget and plan to put the money into the savings challenge.

There are many different ways to budget from paycheck budgeting to anti budgeting.

Finding the right method for you over the 52 weeks will help make the challenge successful and set you up for a lifetime of good money management.

Pick a day of the week to contribute money.

Making your contributions on the same day every week can help you complete a money savings challenge.

It is a great way to keep yourself consistent and accountable. When you always contribute on the same day you are much less likely to forget about your savings challenge.

Consistency is one of the best habits leading to financial success.

I personally do this with my Transfer Tuesday series on YouTube (feel free to subscribe and join me).

Use a high yield savings account.

When you are completing a money challenge you want to put your somewhere safe that earns a little bit of money. Using a high yield savings account (or the M1 Finance spend account) can accomplish this.

You’ll earn a bit of money while working on your 52 week challenge but it won’t be at risk by being invested in the stock market.

Keep yourself motivated for the year.

Making sure you are motivated and stay motivated is the best way to successfully complete a money savings challenge.

You can do this in a number of ways based on what motivates you mentally.

Maybe it’s having your challenge printed and in a visual places so you can see it daily.

Maybe it is accountability so you have to check in each week.

Find the motivation techniques that appeal to you. Put these into practice and you’ll find success with your challenge.

Plan for potential setbacks over time.

You will have some setbacks or difficult times during your year long savings challenge.

Making a plan for this will help you get through it.

For example, maybe you know that you’ll have a large expense during the year. You can plan to contribute smaller amounts for the challenge during that time. Instead of giving up, plan around things that come up or make changes.

Remember it’s also ok to pause the challenge and pick it up again when you can.

In the end if doesn’t matter if your 52 weeks are consecutive or not – you’ll still have $20,000!

More Savings Challenges

Sometimes you recognize that a goal is beyond your capacity due to many reasons. In this case you might want to adjust your challenge goal.

Instead of $20,000 maybe you decide to save $10,000 in 52 weeks instead.

$10,000 Savings Challenge Tracker

Want to save $10,000 in one year? This savings challenge tracker is perfect for you! This $10,000 Money Saving Challenge is designed to help you save up $10,000 over one year with either one of the two different savings plans.

Changing your savings plan or doing a different challenge might be more motivating if you know you won’t achieve the $20,000 goal. That’s ok! You can readjust your plans at any time.

Check out the savings challenges in the money printables shop to find more options for challenges you can complete.

Money Making Ideas To Save More

Completing a big $20,000 savings challenge can be difficult and you might need to make more money to reach your goal.

Below are some ideas to help you make money over the next 52 weeks as you work on your money challenge.

These ideas can help you earn a little bit of extra money throughout the year while you complete your challenge. You can do it!

Mary is the founder of Pennies Not Perfection where she teaches you how to make online income to build wealth and gain freedom. She quit her day job in 2021 after she replaced her salary.

Mary's favorite free financial tool is Personal Capital. She uses their free tools to track investments, grow her net worth and work toward to financial freedom.

Her favorite investment platform is M1 Finance, where she built a custom portfolio for free with no fees. She shares her portfolio growth and savings progress every month on YouTube.