The 52 Week Money Challenge has become a phenomenon on Facebook because it’s a simple, step-by-step chart that tells you how much to deposit each week for one year into your savings account beginning with a $1 deposit. If you’re willing to take the challenge, follow the chart and you’ll have a plush savings fund with a balance of $1,378.

If you accept the challenge and are ready to get started you’ll need:

You need determination to help you achieve weekly and ultimately year-end success as you achieve your savings goal. Practice determination to save in the first week by turning down the hot fudge sundae off the Dollar Menu. In week two, save $2 by keeping better tabs on your elusive lip balm that never fails to turn up in the dryer. In week three, save $3 by skipping the cup of coffee from the coffee shop and bringing your thermos to work. If you ever feel deprived, just think of the end result - $1,378!

A copy of the chart
Print off the savings chart online or make your own at home. Tape it to your bathroom mirror, stick it up on the fridge, or fold it up and carry it in your wallet or purse – just put it somewhere you look every day so that you stay on track and you can document your progress.

Your first deposit of $1
Wrangle up your dollar and store it safely into savings.

A savings account
If you don’t have a savings account, it’s easy to set one up online at and choose “Open an account online.” To open your account, you’ll need to know your U.S. Social Security number, and have a valid form of identification and a credit or debit card, or a U.S. checking or savings account, to fund your new account.

For more information about the woman who started the 52 Week Money Challenge, visit Kassondra’s 52 Week Money Challenge on Facebook. Happy saving!