Pitfalls to Avoid to Finish 52 Week Challenge
Perfectly timed distractions are the worst enemies to staying disciplined when you have to stick to a plan that requires sacrifice.
Many will testify to abandoning plans that were once budding ambitions but unfortunately fell on the wayside when the realms of life hit.
But how does one avoid these pitfalls while keeping an eye on the goal?
Many Kenyans who have taken up the 52-week challenge will narrate just how tricky it can get between spending that crucial coin or storing it away for that rainy day.
The challenge is designed in a way it doesn’t strain and eventually break you, because the goal is to help you develop the discipline to save for something you want.
Plug the leaks
The trick is to get creative and find a way to plug up that hole in your pocket that is leeching your hard earned money.
If you are truly inexorable in you pursuit for financial freedom, then tightening up your belt is paramount especially by making some lifestyle changes.
To have more money to put up in the 52 week challenge, for example, you may have to relook into your habit of eating out every other day.
Get a legumes pack and do meal prep for the week to cut back on the fine dining. Leave that for the really special occasions.
The money you save, put it in your account.
Wholesale Shopping Chama
Home shopping can be such a drag to your financial goals. You walk out to a supermarket to get a packet of milk only to go back home having spent Ksh2,000. How? You wonder…
Well a user online noticing this trend and keen to remedy decided to join a wholesale shopping chama that ended up saving him 10 percent of his budget.
In the chama they buy foodstuffs and other household goods in wholesale, which is cheaper.
Months after overhearing his female colleagues discussing their arrangement, he joined and is currently in his fourth month. Upon referring to his finances he realized that he used Ksh5,600 less in the chama arrangement.
And that helped him keep up with the challenge.
A useful hack some who have taken up the challenge have noted is making deposits monthly as opposed to weekly.
Some noted that it could get a little hectic to get the money to put in the savings and instead of despairing and abandoning the plan altogether, they wait for end-month when they have been paid.
What that means is you have to make a lump sum at the end of the month which if you are disciplined for, you can make without too much fuss.
Do it your way
For others, the end justifies the means. It can get a little messy but as long as the target is met as the end of 52 weeks, then it is okay.
Consistency is key, but to some - the term is relative to the financial situation of the month.
Some have decided to do it their own way. The goal is the same but the road is somewhat skewed. In times of plentiful, they make huge deposits to cater for the days when their hands aren’t as oiled.
Which is unorthodox, but it gets the job done and as long as you keep track, then that is fine.
This system works when you break down the goal into sections so that you can keep revisiting and seeing where you need to make adjustments.
The 52 Week Challenge is still on and it’s never too late to start. Keep saving consistently and get a higher loan limit on Mshwari every month.