Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak e-Term

Protect Your family’s financial future with Kotak e-Term. Know more

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family. Know more

Kotak Guaranteed Savings Plan

A plan that offers long term savings and insurance in one premium. Know more

Kotak e-Invest

Insurance and investment in one plan with Kotak e-Invest. Know more


Get a Call

Enter your contact details below and we will get in touch with you at the earliest.

  • Select your Query

Thank you

Our representative will get in touch with you at the earliest.

52 Weeks Savings Plan: Daily Savings Plans for a Better Tomorrow

The 52-week money challenge presents a brilliant opportunity for anyone who wants to save money. By following a step-by-step guide, you can learn how to save for a better tomorrow with a 52-week savings plan.

  • Mar 03, 2023

Every year on January 1st, social media tends to get flooded with announcements for the upcoming year. The most popular ones are, becoming a better person, travelling more and learning something new. But does resolving require a specific date?​ Not really.

Key takeaways

Tips to free up more cash for the 52-week money challenge

  • Work on your budget
  • Find expenses you can cut back on

Stay on track for the 52-week money challenge by following these points

  • Set a clear goal
  • Create a budget
  • Automate your savings
  • Track your progress
  • Stay accountable
  • Reward yourself
  • Keep things in perspective

When it comes to taking up something that can change your future for the better, one such challenge that has been doing the rounds on the internet is the 52-week saving money challenge.

What is the 52-Week Money Challenge?

It started on social media in 2013 through a Facebook group called ‘Kassondra’s 52-week saving money challenge. Finance aficionado Kassondra Perry-Moreland initiated the idea. The challenge instantly went viral and became a massive hit.

Kassondra’s group became a real-time hub for over 1,000 people worldwide as they began sharing pictures of their piggy banks and savings account balances. The response was genuinely phenomenal, and the idea was so simple.

If we’ve piqued your interest, here’s how it works!!

In India, you start with a daily saving scheme of just ₹10 rupees in the first week, ₹20 rupees in the second week, ₹30 rupees in the third week and so on. So as you save in increments of ₹10 rupees per week, by the end of 52 weeks, you will have a whopping ₹13,640 rupees!

What’s more, there are no fixed rules here. So, you can either save more money in the next two weeks or deposit the savings if you want. By the end, you can even plan to buy something expensive.
Simple and fun, this is one of the best daily saving schemes you would come across. But, if you are wondering whether this challenge poses any potential upside or downside, here’s what you should know:

Positive Aspects of The 52-Week Money Challenge

Now that you are fully aware of what the 52-week money challenge is. It’s time to discover how you participate in the 52-week saving challenge. Let’s quickly review the 52-week challenge’s major benefits.

  • The 52-week money challenge is a simple and effective way to save money and build a habit of regularly setting aside funds.
  • It allows you to start small and gradually increase your savings over time, making it easier to stick to the saving money challenge and achieve your savings goal.
  • By the end of the 52 weeks, you will have saved a significant amount of money that can be used for a specific purpose, such as an emergency fund or a down payment on a home.
  • The challenge also helps to improve your financial literacy and understanding of budgeting and saving.
  • It’s a simple and flexible way of saving, and you can customize it to fit your budget and saving goals.
  • It’s a great way to build an emergency fund and prepare for unexpected expenses.
  • It can help you to prioritize your spending, and you may find that you are more mindful of your expenses as you strive to save more money.

When is The Best Time to Start The 52-Week Money Challenge?

Many people begin a new financial struggle at the beginning of each year. Usually, this is connected to their optimism at the start of a new year and their resolutions. A financial challenge, however, can be started at any time.

Therefore, the ideal moment to begin a new endeavor is anytime you are prepared.

A fantastic time to start is at the start of a new week or month. A new week or month gives you the impression that you are starting over psychologically.

However, you must be prepared to dedicate yourself to the procedure. In such a case, find a friend who can motivate you to work hard toward your financial objectives and can push you to move forward with your 52-week money challenge.

Stay on Track for The 52-Week Money Challenge

Here are a few things you need to remember in order to help you stay on track and reach your goal.

Set a Clear Goal

Determine how much money you want to save by the end of the 52-week saving challenge, and make sure it is realistic. Having a clear goal in mind will help you stay motivated and on track throughout the challenge.

Create a Budget

Make a budget that includes all of your expenses and savings goals. This will help you see where your money is going and make adjustments as needed to ensure you are meeting your savings goals.

Automate Your Savings

Set up automatic transfers from your checking account to your savings account to ensure that you consistently save money each week. This will also help you avoid the temptation to spend money on something else.

Track Your Progress

Keep track of your savings each week, and make sure you are on track to reach your goal. This will help you stay motivated and make adjustments if you need to.

Stay Accountable

Share your challenge with friends or family and ask them to hold you accountable for your progress. This will help keep you motivated to complete the challenge and stay on track.

Reward Yourself

Set up small rewards for yourself as you hit milestones in your savings journey. This will help you stay motivated and make it feel less like a chore.

Keep Things in Perspective

Remember that the 52-week money-saving challenge is a long-term goal and that setbacks and struggles are normal. Keep things in perspective, and do not give up if you fall behind.

Tips to Free Up More Cash for the 52-Week Money Challenge

Work on Your Budget

It’s all about acting strategically when it comes to daily saving schemes. Your budget is just a strategy you write down to tell your money what to do without giving it too much thought.

Your savings strategies will be actionable if you incorporate them into your monthly budget rather than winging them. Make a line item for this challenge and categorize it by how you get paid.

Find Expenses You Can Cut Back On

Spending less on items you do not use or need will leave you with extra money that you can use to increase your savings. Streamline your needs and wants, and create a plan that works effectively and in your favour.

Final Thought

Starting to save money is easy with the 52-week money challenge. You have the chance to develop sound financial habits, strengthen your money thinking, and lay the groundwork for achieving your financial objectives as rapidly as possible.

Your bank account balance will increase over time and with dedication, and you’ll experience financial peace of mind.

Download Brochure


  • Increasing Life Cover*
  • Guaranteed^ Maturity Benefits
  • Enhanced Protection Through Riders
  • Tax Benefits
  • Dual Benefits: Guaranteed^Maturity + Death benefits

Ref. No. KLI/22-23/E-BB/999


Download Brochure


  • Enhanced Protection Through Riders
  • Life Cover
  • Tax Savings
  • Multiple Premium Payment Terms
  • Guaranteed @ Loyalty Addion
  • Accrued Guaranteed @ Additions

Ref. No. KLI/22-23/E-BB/490


- A Consumer Education Initiative series by Kotak Life

Similar Articles

प्रत्यक्ष कर और अप्रत्यक्ष कर में क्या अंतर है?

Income Tax Deductions for Disabled Persons Under Section 80U

Income-Tax Liability- The Difference Between Gross Income & Total Income in Calculating Income Tax

Complete Savings Plan for Low Income Earners

How much gold can you keep at home? Limits and income tax rules explained

Tax Saving Tips: Best Ways to Save Income Tax for 2021

What is the Difference between Assessment Year (AY) and Financial Year (FY)?

Post Office Savings Scheme - All You Need to Know

How to File TDS Return?

Section 80G of the Income Tax Act

Insurance and Endowment: Everything You Need to Know!

Tax-Savings Investments and Options in India

What is the TDS Rate on Salary?

Highlights of the Union Budget 2023-24

What is the difference between TDS and TCS?

Income Tax Benefits for Doctors

Invest in Tax-Free Bonds: Understanding the Benefits and Who can Invest?

Types of Riders in Insurance Policy

What is Section 80C Deduction?

What is Tax Evasion, and What are the Penalties for Tax Evasion in India?

Is PF Withdrawal Taxable for NRI?

TDS rules on the sale of jointly owned property

सुकन्या समृद्धि योजना (SSY) के कर लाभ क्या हैं?

Who Should Invest In Savings Plan

9 Unusual Investments you Didn't Know for Saving Taxes in India

Why PAN Card is Essential for Income Tax Filing?

A Complete Guide for Filing ITR 3 Form

धारा 80सी आयकर अधिनियम, 1961

How to Save Tax on Salary Arrears?

धारा 80डी आयकर अधिनियम, 1961

भारत में महिलाओं के लिए सरकारी योजना

स्रोत पर कर कटौती (टीडीएस) क्या है?

How to Boost Your Savings with Guaranteed Results

Guide for Tax Calculation on your Salary

Tax Benefit of Investing in Term Plan

Income Tax Exemption for Physically Handicapped Dependent

Tax Planning Tips for a Newly Married Couple

Section 44AD of Income Tax Act for AY 2021-22

Understand ITR4 Form: How to Fill, Structure & Determine Your Eligibility

All you need to know About Tax on Inheritance

Difference Between Guaranteed Savings Plan and Guaranteed Income Plan

Tax Structure in India

How Inflation Affects Savings and Investment?

Can You Get Term Insurance Without Income Proof?

What is HRA (House Rent Allowance) and How is HRA Exemption Calculated?

What is TDS Refund Process?

How to e file ITR on Income Tax Government Portal

A Comprehensive Guide to Understand the ITR 7 Form

12 Tax Changes in Budget 2022 that May Impact Your Personal Financial Planning

Difference Between Guaranteed and Assured Returns

What is a savings plan?

Maximize Your Savings: Tax Tips for Salaries Above ₹20 Lakhs

Union Budget 2023: Impact on Life Insurance

What is Salary Protection Insurance and Why You Need It

What is the Last ITR Filing Date and Penalty for Late Filing of ITR?

TDS Due Dates of FY 2022-23 For Return Filing

What is ITR & How to File Income Tax Return?

Saving Plans to Give Children a Debt-free College Education

A Guide to Life Insurance Policy’s Tax Benefits and Taxability

What Investment Options Come with Tax Incentives?

3 Tips to Buy Guaranteed Savings Plan

Budget 2019: Impact on the Common Man in India

Tax Saving Options for Salaried Employees

What is Rule 132 of Income Tax? How Does it Affect You?

Personal Finance - Meaning, Importance, and Tips for Personal Finance

How to File Form 16 for Salaried Employees?

When Should TDS be Deducted and Who is Liable to Deduct it?

All You Need To Know About Assured Savings Plan

What are Deferred Savings Plans?

How Should I Allocate A Monthly Savings Plan For Long-Term Benefits?

आयकर स्लैब 2021-2022

Guaranteed Return Plans-Why is it a must for you?

What is Form 16B?

Tax Saving Options other than Section 80C

Section 10 (10d) of Income Tax Act, 1961 on Payouts of Life Insurance Policy

How Much Money This Budget 2019 Can Help You Save

Tax Season is Coming- Know How to Save Tax

All about TDS on Salary under Section 192 – Kotak Life

What are Direct Taxes? How to Avoid being Overtaxed?

What is Section 195 of the Income Tax Act? TDS on Non-Residents of India

How Do Assured Savings Plans Work and Why You Should Consider One?

How can NRIs prevent double taxation in India?

Income Tax Deductions Under Section 80C

Personal Finance - How to Deal with Emergencies When Preparing Finances

Section 16 of the Income Tax Act (ITA), 1961

How To Invest In Guaranteed Return Plans For Higher Returns And Financial Security?

How to file Form 16 online?

Income Tax Filing For NRI in India

How to File Income Tax Return without Form 16

E-Filing of Income Tax Returns in India

What is the Difference between Form 16 and Form 16A?

Tax Saving Guide for 2019-20

Importance of Savings Plan You Need to Know

Have You Considered Term Insurance a Part of Your Tax Planning?

Form 16, Form 16A, and Form 16B?

How to Check Income Tax Refund Status Online in India

What are the Different Types of Taxes in India?

What is the Maximum Maturity Benefit in Assured Savings Plans?

How to File ITR Online

What is the Difference Direct Tax and Indirect Tax

How to Check Income Tax Refund Status Online in India

What is Form 16A?

8 Things to Help You Select a Savings Investment plan

Tax Exemption and Scope of Coverage

Why is Form 16 Important?

ITR 2 Form – Complete Guide

How to File Income Tax Return - Everything You Need to Know

What is Section 10D of the Income Tax Act?

Easy ways to make personal savings plans

How can I get Form 16B from traces?

Problems People Face with Tax Returns after a Job Change

Financial Planning and Best investment options for Housewives

How to File Income Tax Return for First Time Tax Payers

Income Tax Calculator: How Life Insurance Policies are Taxed? Explained

Tax Rate Chart for FY 2022-2023: What is TDS Slab?

Income Tax Deduction Under Section 80CCC In India

Do Beneficiaries Pay Taxes on Life Insurance?

Why January Is an Important Month for Saving Tax?

Tax Benefits for Startups in India

Tax Deductions You MUST Know

How to Save Income Tax with Insurance

Saving Income tax in 2017 - 18

List of Important Income Tax FAQs

What is TDS Slab?

What is Section 80CCC of the Income Tax Act 1961

Home Investment Plan to Buy Dream Home

Investment Proofs You Need Submit To Lower TDS Cut From Your Salary

Section 80D - Medical and Health Insurance Tax Benefits Under Section 80D

What To Do If Your TDS Is Not Deposited With The Government?

Difference between Section 80C, 80CCC, 80CCD & 80D

Section 80E: Tax Exemption on Interest on Education Loan

How to Check Income Tax Returns Status Onine?

How to Pay Advance Tax Online in India

How to save tax for salaried person?

Presumptive Taxation for Business and Profession

इनकम टैक्स रिटर्न कैसे फाइल करें?

How to e-Verify your Income Tax Return

Save Income Tax by 31st March: Here Is a Checklist

Types of Income Tax Return (ITR) Forms

All about TDS Payment Online & Due Dates

Pradhan Mantri Suraksha Bima Yojana

Income Tax Exemption for Disabled

How To Save Tax Using Life Insurance?

What is better - Guaranteed Savings Plan or Fixed Deposit?

Section 80C Deductions as per Income Tax Act, 1961

How to create a savings plan and make good investment choices

9 Income Tax Myths That Could Cost You Money while Filing returns

What is Section 80C Deduction Limit?

Should you prefer a Guaranteed Savings plan over monthly income schemes?

What Is Advance Tax and How Is It Calculated?

Interest Imposed Under Sections 234A, 234B and 234C

Tax Saving for Self Employed in India

What is capital gains tax, and how it works?

How to File Form 10E for Tax Relief on Salary Arrears?

How To Save Tax Better with 80C

How to Calculate returns on an assured savings plan?

What is ITR 5 Form and How to File ITR 5?

Sub-sections Under Section 80C of the Income Tax Act, 1961

What is TDS Exemption Limit?

Everything You Need to Know About Tax Benefits of National Pension Scheme (NPS)

What is EEE in income tax? 5 tax-free investment options to become crorepat

What is the Percentage of Tax Deducted at Source (TDS)?

ITR 1: Sahaj Form

How to Claim a Tax Refund?

Impact of GST on Life Insurance in India

How to View 26AS and Download Form 26AS Online?

How to create wealth through a savings plan?

Money Saving Tips for Single Women

Should one prefer a guaranteed savings plan over monthly income schemes?

आयकर रिटर्न (आईटीआर) फॉर्म के प्रकार

Understanding Tax Exemptions in ULIP (Old and New)

Plan your Daughter's Wedding With Best Monthly Savings Plan

Tax-Free Income in India

Investing Lump Sum Amount

Key Changes of the Union Budget 2023 You Must Know

Challan 280 - How to Use Challan 280 to Pay Income Tax

What is Section 80C - Explained in Detail

How to Download Form 16?

All You Need to Know About Section 80C

Penalty For Late Filing TDS Return

Income Tax Filing Using Multiple Form 16

Income Tax Deductions & Exemptions under Sections 80C, 80D & 80DDB for FY 2021-22 & 2022-23

Why Tax Planning Should Be an All-year Round Activity

Best Savings plan for the middle class in India

Tax Planning and Tax Benefits of Life Insurance

Income Tax Slabs and Rates in India for FY 2021-22/AY 2022-23

Financial Benefits and Government Schemes Every Woman in India Should Know

What is indirect tax and its types?

Things to Do After Filing Income Tax Returns

LTC Cash Voucher Scheme October 2020 – Everything You Need to Know

Income Tax Effects on Salary Deductions in the Union Budget 2023

Basics of Guaranteed Savings Plan

5 Popular Tax-Saving Schemes in India

Top 8 Tax-Saving Methods in India- Budget Planning

Union Budget 2023 and Tax Exemptions on Life Insurance Premium Over ₹5 Lakhs

ITR-6: Guide to filing ITR-6 Form online

Are Financial Planning and Tax Planning the Same Thing?

Tax Benefits of ULIP Plans Available for NRIs

Received an Income Tax Notice? Your Guide to Understanding Intimations under Section 143 (1)

What is Form 26AS - All You Need To Know

Tips to plan your savings in 2022

How to Get Form 16?

How to View 26AS and Download Form 26AS Online

What is Tax Deduction at Source (TDS)?