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A Kid’s 52 Week Money Challenge

January 5, 2015 By · 25 Comments

For those looking for an update please scroll to the bottom. Below this will be how my kid’s did their 52 week money challenge. 

Many bloggers around the world are jumping into the 52 week money challenge, however some are asking how to get their children involved in this but a smaller amount. I wondered about the same thing and saw a few references for ideas for kids to do it so I’ve jotted only a few down. Let me know if your child would do this and how much you think they’ll save in 2015…or what they want to save so they can buy later on.penniesinajar

Penny for the Day

Similar to the dollar per day for the adults but instead they put a penny for the day of the month it is. January 1st they would put 1 penny in, on January 17th they put 17 pennies in and so forth. Each month starts new and by the end they should have roughly $55. (I did not sit down and do each day but it will equal out to being very close)

A Dollar a Week

Have your child put only a dollar in the jar for every week that passes and by the end of the year they will have $52 saved up. This method may be done with a nickel, dime or a quarter a week, each week though you put that many in it. If you they are on week 23 they should place 23 quarters in the jar, week 2 would only be 2 quarters and by the end of the year they would have $13 in the jar. With dimes they would have $5.20 at the end of the year, with a nickel challenge they’d end up with $2.65, with a penny a week they get 0.52 at the end of the year.

Save the Change

There is no telling what your child can save with this method but chances are anything from a penny to $100s of dollars, especially if they get birthday money, allowance, etc. The idea here is just like when an adult takes any change out of their pocket at the end of the day and stick it in a coffee can. Many of us forget just how much change we come across in our daily lives, every time we use a dollar and get change back it normally gets placed in our pockets or at the bottom of a purse, kids are just the same way.

Let them Decide

Let your child choose the method they think will be fun to follow. Remember as a parent we know that getting them to do something needs to either be a challenge or something that seems like fun and ALWAYS let them decide because when they get to make decisions they tend to follow through more. If they feel they are being forced it’ll be no fun and chances are they will stop doing it midway through.

Craft a Jar

Get out a jar for them to decorate, some paper, stickers, etc and let them have at it. I recommend a clear jar so they can see all the money they put in.  Every day or week they add money to it and get to watch it get higher and higher.

For those that would like a printable version of some of these you can see one Saving Advice. Some of these will not be on it as I thought of the way my kids like to save money and added those. (change in pockets, penny a day/for the day)

UPDATE: A year ago Little A would decide to do this challenge. Every day (or almost) he’d remind me about his pennies, boy was that hard keeping up with all those pennies. Keep in mind his goal was to make as much money that he could to take his dad out when he came to visit this past summer. He had a whopping $40 by the time he was done and some of that was of course money he found around the house or birthday money. He definitely saved. This year, all 5 kids wanted to do it. I think I’ll be broke by the end of the year. But at least I have everyone wanting to save money. Did you do it last year? How did it turn out.

For those of you that want to try this please comment below. Those that are adults here is the adult version to the 52 Week Money Challenge.

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Comments

  1. I do the change in a jar thing, everytime I get change, I throw it in a jar. I haven’t counted mine in over a year but it might be time to start over. My pig is getting full.
    Karen recently posted…Buh Bye, 2013My Profile

  2. I totally love this! Thanks so much! I am doing the grown up version, Noah said he wanted to do it too. So now he can without me going broke!
    Sheilacakes recently posted…E-Cigarette Reviewed Create Your Own Flavor ContestMy Profile

  3. What a fantastic idea! I love it!
    Andrew @ Mommy’s Busy recently posted…Imagine Cleaning Up Times Square Today #NewYearsCleanMy Profile

  4. @shiela Thank you, I figured since I am doing the adult version: http://homemom3.com/52-week-money-challenge-for-2014 that others might be looking for something for their children to do. Many know if I am doing something my kids are normally following suit.
    @Karen I normally save all my change in a blue pouch I carry around in my purse. Quarters go straight into a jar for laundry and the rest tossed in the pouch and when I want to get a drink or a burger I only use the change.
    @Andrew Glad you like it. Will you or your kids be doing anything like this or have some new year’s goals?
    @Jackie Thank you. Which method are you following. I posted before about the adult version and I’m doing more an an alternate week, I’m doing the $52 the first week and second week $1. This way it is easier to do at the end of the year when I’m Christmas shopping.

  5. http://jackiespeaksit2014.wordpress.com/52-week-money-saving-challenge-link-up/
    of course this is for adults but kids what a great idea….my daughter is 19 and money savvy b/c I raised her as a single mom.
    Jackie Paulson recently posted…What areas of your life do we all need to wake up?My Profile

  6. We were just talking about starting an allowance for my 4 yo. He would need to complete his chores to get it. Thanks for the tips for getting them to save it. We are definitely going to craft a money jar with him now!
    Dianna @ Oy Vey a Day recently posted…Fellowes Shredders Help Protect Against Identity Theft Before and After The Holidays #IDSafetySeasonMy Profile

  7. These are such great ideas, I have a change jar that my kids love to toss coins into. I may have to put the penny a day idea to use!
    Deanna U recently posted…3 Ways to Keep Your Skin Hydrated to Survive The Winter Cold #AveenoMy Profile

  8. I love this idea! I gave both the kids a counting money jar for christmas. That was probably the present that got the most attention! Now we have an idea for it :)
    Stephanie recently posted…Laundry Room MakeoverMy Profile

  9. These are great ways to save money. Perfect to teach kids how to save!

  10. It’s a great idea to train kids to save. I know my own kids love to fill up their piggy banks with spare change. I think our next step will be saving money that theirs, not just something they found.
    Crystal recently posted…How to Stay Healthy During Cold & Flu SeasonMy Profile

  11. Stephanie Keeping says:

    I really need to do this with my son . He is having a hard time grasping the concept of money.

  12. What a great idea! I love the penny thing- it will show the kids that even saving a little means adds up!
    Wendy recently posted…How to Be Brave and End Bullying Tip 5My Profile

  13. That would be good to do for vacation savings, too. That way little ones can have their own spending money.
    LyndaS recently posted…Strawberry Power SmoothieMy Profile

  14. We have several jars for change for our sons college fund. My hubby has one at work at his desk for his change, we have one at home for our spare change. It adds up quickly.
    Digna D. recently posted…Mighty Bright Recharge Led Booklight – An Eco-friendly OptionMy Profile

  15. This is an awesome Idea. The small change really adds up after a while.
    Liz Mays recently posted…Weight Lifting for Women | A Guide to Getting Started with Strength TrainingMy Profile

  16. We always save our change because we use it to donate at two different church fundraisers throughout the year. But I LOVE the idea of a penny challenge for kids!
    Sara P. (@SensiblySara) recently posted…Football-Themed Snacks Using Snickers® and Skittles® #ad #BigGameTreatsMy Profile

  17. These are great ideas! Thanks for sharing!!
    Shasta Walton recently posted…Truvia Apple Almond Breakfast CookiesMy Profile

  18. I had not heard of this challenge last year but I love it! I think I’ll get the whole family going on this… How fun!

  19. I am all over this idea. I decided if we each did this in my family (including us parents) and just started a Jar then would could have a fun trip with the money at the end of the year!
    Avry recently posted…Snowflake pillowsMy Profile

  20. I totally love this idea and am honestly going to do this. Just goes to show that a little really does add up.
    Crystal recently posted…Love Lunch In with Campbell’s Slow Kettle SoupMy Profile

  21. I was just looking for my daughter’s piggy bank yesterday. I think it is time for her to start getting some sort of concept of money.
    Robin Gagnon recently posted…Tackling Post Holiday Clean-up with Inspired HomeMy Profile

  22. I love the idea of the penny a day. My girls have savings jars and whenever they earn money, they put 10% into that Jar. They keep asking me when they can spend it and I told them they are saving for something special, we just haven’t figured that part out yet. LOL
    Karen W recently posted…Win Four Boxes of Each Chai Latte & French Vanilla Chai Latte K-CupsMy Profile

  23. It is so important I think to start kids young with understanding the importance of saving money, and saving for the things we want in life! We are to much of a charge it society! Thanks for the advice and I will for sure be starting this challenge with my kids!
    Jesica H recently posted…Looking for post-holiday savings!?My Profile

Trackbacks

  1. […] A is doing the 52 week money challenge for kids, for his age I thought putting in a penny for the day of the month would be a great way to start […]

  2. […] There is a child version I wrote so your kids can take part in this challenge at their own pace. The 52 Week Money Challenge for Kids. […]

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