How to use the savings challenge tracker
- Enter the week 1 amount and how much to add each week. The classic version starts at $1 and adds $1.
- Choose the number of weeks, up to 52, and whether to count smallest first or largest first.
- Tick the option to show a running total if you want to see the sum in each box.
- Print the page. Tick a box when you save that week's amount, and write what you have saved so far at the bottom.
Formula
Amount in week k = week 1 amount + (k - 1) x weekly increase
Total = weeks x week 1 amount + weekly increase x weeks x (weeks - 1) / 2
The total is the sum of an arithmetic series. It is calculated in whole cents, so it is exact.
The $1 a week challenge
Starting at $1 and adding $1 each week for 52 weeks, the amounts run from $1 to $52. The total is 52 x $1 + $1 x 52 x 51 / 2 = $52 + $1,326 = $1,378.
Starting at $5 and adding $5 gives a total of 52 x $5 + $5 x 1,326 = $260 + $6,630 = $6,890. Starting at $0.50 and adding $0.50 gives $26 + $663 = $689. Choosing largest first prints the same amounts in reverse, so week 1 is the biggest.
How the page is laid out
Each week has its own box with the week number, the amount to save and a square to tick. Weeks are arranged in four columns so the whole year fits on one US Letter sheet. The total for the full challenge is printed at the bottom, with a line to write your running balance.
Counting down means the largest amounts come first and the smallest last. Counting up does the reverse. Both reach the same total, so choose the order you think you will stick with.
What the page does not do
The page lists amounts and a total. It does not move money, track your savings account or pay interest. If you want to see what regular savings can grow to with interest, use the savings calculator, and to plan toward a particular target, the savings goal calculator.
Use an amount you can afford. The largest weeks can be large, so check that a total such as $1,378 across the year fits your budget before you start. Everything is made in your browser. Nothing you type is uploaded or stored on a server.
Assumptions and limits
- The challenge runs for the number of weeks you choose, from 1 to 52.
- The week 1 amount can be up to $10,000 and the weekly increase up to $1,000.
- Amounts are in US dollars and cents and the total is exact.
- Interest, fees and missed weeks are not modeled.
Frequently asked questions
How much does the 52 week savings challenge save?
Saving $1 in week 1, $2 in week 2 and so on up to $52 adds up to $1,378. The tool works out the total for whatever start amount, step and number of weeks you choose.
Can I start with a bigger amount?
Yes. Set the week 1 amount and the weekly increase to anything within the limits. Starting at $5 and adding $5 each week totals $6,890 over 52 weeks.
Why would I count down instead of up?
Counting down puts the largest amounts first, and the amounts get smaller as the year goes on. The total is the same either way.
Can I run it for fewer than 52 weeks?
Yes. Enter any number of weeks from 1 to 52 and the page shows only those boxes and the matching total.