How you can start saving as little as Sh50 to make Sh156,000 by end of year. Photosearch
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How you can start saving as little as Sh50 to make Sh156,000 by end of year
What you need to know:
- There are different types of challenges you can take to achieve your 52 Week objective
- Today, we take a look at these types of challenges and give you a breakdown of how to achieve your goals and the amounts you need to save every week
The 52 Week Challenge is one of the most effective ways of hacking saving for anyone who has been struggling with keeping some money aside. There are different types of challenges you can take to achieve your 52 Week objective. Today, we take a look at these types of challenges and give you a breakdown of how to achieve your goals and the amounts you need to save every week. These methods are best applied for new savers who are yet to venture into investment-based savings such as Bonds and Money Market Funds.
52 Week Savings Challenge Facebook Group chart method
According to the 52 Week Savings Challenge Group founder, moderator and personal finance coach Felista Wangari, the Sh3,000 weekly challenge will give you Sh156,000 at the end of the year. She lays out the financial breakdown you should follow to get to Sh156,000 by December 2022 as follows:
Week | Date | Deposit | Amount saved so far |
| Week | Date | Deposit | Amount saved so far |
| Week | Date | Deposit | Amount saved so far |
| Week | Date | Deposit | Amount saved so far |
Month: January | Month: April | Month: July | Month: October | |||||||||||||||
1 | 1/01 | 3,000 | 3,000 | 14 | 3/04 | 3,000 | 42,000 | 27 | 3/07 | 3,000 | 81,000 | 40 | 2/10 | 3,000 | 120,000 | |||
2 | 9/01 | 3,000 | 6,000 | 15 | 10/04 | 3,000 | 45,000 | 28 | 10/07 | 3,000 | 84,000 | 41 | 9/10 | 3,000 | 123,000 | |||
3 | 16/01 | 3,000 | 9,000 | 16 | 17/04 | 3,000 | 48,000 | 29 | 17/07 | 3,000 | 87,000 | 42 | 16/10 | 3,000 | 126,000 | |||
4 | 23/01 | 3,000 | 12,000 | 17 | 24/04 | 3,000 | 51,000 | 30 | 24/07 | 3,000 | 90,000 | 43 | 23/10 | 3,000 | 129,000 | |||
TOTAL: | 12,000 | TOTAL: | 12,000 | TOTAL: | 12,000 | TOTAL: | 12,000 | |||||||||||
Month: February | Month: May | Month: August | Month: November | |||||||||||||||
5 | 30/01 | 3,000 | 15,000 | 18 | 1/05 | 3,000 | 54,000 | 31 | 31/07 | 3,000 | 93,000 | 44 | 30/10 | 3,000 | 132,000 | |||
6 | 6/02 | 3,000 | 18,000 | 19 | 8/05 | 3,000 | 57,000 | 32 | 7/08 | 3,000 | 96,000 | 45 | 6/11 | 3,000 | 135,000 | |||
7 | 13/02 | 3,000 | 21,000 | 20 | 15/05 | 3,000 | 60,000 | 33 | 14/08 | 3,000 | 99,000 | 46 | 13/11 | 3,000 | 138,000 | |||
8 | 20/02 | 3,000 | 24,000 | 21 | 22/05 | 3,000 | 63,000 | 34 | 21/08 | 3,000 | 102,000 | 47 | 20/11 | 3,000 | 141,000 | |||
TOTAL: | 12,000 | TOTAL: | 12,000 | TOTAL: | 12,000 | TOTAL: | 12,000 | |||||||||||
Month: March | Month: June | Month: September | Month: December | |||||||||||||||
9 | 27/02 | 3,000 | 27,000 | 22 | 29/05 | 3,000 | 66,000 | 35 | 28/08 | 3,000 | 105,000 | 48 | 27/11 | 3,000 | 144,000 | |||
10 | 6/03 | 3,000 | 30,000 | 23 | 5/06 | 3,000 | 69,000 | 36 | 4/09 | 3,000 | 108,000 | 49 | 4/12 | 3,000 | 147,000 | |||
11 | 13/03 | 3,000 | 33,000 | 24 | 12/06 | 3,000 | 72,000 | 37 | 11/09 | 3,000 | 111,000 | 50 | 11/12 | 3,000 | 150,000 | |||
12 | 20/03 | 3,000 | 36,000 | 25 | 19/06 | 3,000 | 75,000 | 38 | 18/09 | 3,000 | 114,000 | 51 | 18/12 | 3,000 | 153,000 | |||
13 | 27/03 | 3,000 | 39,000 | 26 | 26/06 | 3,000 | 78,000 | 39 | 25/09 | 3,000 | 117,000 | 52 | 25/12 | 3,000 | 156,000 | |||
TOTAL: | 15,000 | TOTAL: | 15,000 | TOTAL: | 15,000 | TOTAL: | 15,000 | |||||||||||
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| GRAND TOTAL: | 156,000 | ||||||||||||||
The Abojani 52 Week Sh100 method
Abojani Investments has also designed a 52 Week Challenge that will see savers get Sh137,800 at the end of the year.
According to founder and investment advisor Robert Ochieng, you start by saving Sh100 in the first week of January 2022. You then add Sh100 every week to the amount you saved last. For example, if you saved Sh100 in week one, you will save Sh. 200 in week two. By week 52, you will add Sh5,200. Here is the weekly breakdown for you:
Week 1: 100 | Week 11: 1100 | Week 21: 2100 | Week 31: 3100 | Week 41: 4100 | Week 51: 5100 |
Week 2: 200 | Week 12: 1200 | Week 22: 2200 | Week 32: 3200 | Week 42: 4200 | Week 52: 5200 |
Week 3: 300 | Week 13: 1300 | Week 23: 2300 | Week 33: 3300 | Week 43: 4300 | Grand Total: 137,800 |
Week 4: 400 | Week 14: 1400 | Week 24: 2400 | Week 34: 3400 | Week 44: 4400 | |
Week 5: 500 | Week 15: 1500 | Week 25: 2500 | Week 35: 3500 | Week 45: 4500 | |
Week 6: 600 | Week 16: 1600 | Week 26: 2600 | Week 36: 3600 | Week 46: 4600 | |
Week 7: 700 | Week 17: 1700 | Week 27: 2700 | Week 37: 3700 | Week 47: 4700 | |
Week 8: 800 | Week 18: 1800 | Week 28: 2800 | Week 38: 3800 | Week 49: 4800 | |
Week 9: 900 | Week 19: 1900 | Week 29: 2900 | Week 39: 3900 | Week 49: 4900 | |
Week 10: 1000 | Week 20: 2000 | Week 30: 3000 | Week 40: 4000 | Week 50: 5000 |
Abojani also runs the Sh1 million challenge. Through this challenge, members are assigned a personal finance and accountability coach, with who they agree on how much needs to be saved every month to make Sh 1 million. The member then opens the investment account and starts the saving journey as their accountability partner follows up.
The M-Shwari Sh50 52 Week Challenge method
M-Shwari also runs a 52 Week Challenge that aims at accumulating up to Sh68,900 at the end of the 52 week.
Starting with week one, you are supposed to deposit your Sh50 on M-Shwari. In the next week, you will increase your deposit by Sh50 and deposit Sh100. This will increase to Sh150 in the next week, then Sh200 in the other week and so forth. In addition to these deposits, your savings will earn an interest of 6 per cent per year.
How to get started:
Go to M-PESA on your phone’s Sim Tool Kit.
Select Loans and Savings.
Select M-Shwari.
Select Lock Savings Account.
Select Open Lock Account.
Set your target at a minimum of Sh. 68,900.
Set period at 12 months
Set your account to save from M-PESA or M-Shwari.
