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 2016…or what they want to save so they can buy later on.
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.