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Looking for a $50 week savings plan to follow to build your savings account, save for a large purchase, or pay off some debt? Keep reading for some helpful tips to save $50 a week and be sure to grab the free printable $50 weekly savings tracker to keep yourself accountable!
Saving $50 a week is a great way to increase (or start) a savings account that you can use for an emergency fund, a large purchase, or just to have some money saved back for financial security.
It’s always a good thing to have some money saved – you just never know what will come up. And it’s a blessing to have that money there if and when you need it.
Quick Note:
Before we get to the $50 week savings plan, if you aren’t comfortable with saving $50 just yet, you can always start with a smaller plan and work your way up to saving $50 a week.
It’s better to save some money every week consistently over time and get into the healthy habit of saving money, instead of saving more than you are comfortable with and then stopping because you can’t stick to the savings plan.
So, don’t be afraid to start smaller and work your way up to saving $50 a week. Just start where you can and be consistent!
Need a smaller savings plan? Try one of these:
If you are ready to save $50 a week, and have worked that into your budget, then let’s get started!
$50 Week Savings Plan (with FREE Printable $50 Weekly Savings Tracker)
Saving $50 a week for a full year will get you to $2600 total. Keep that up for 5 years, and you’ll have $13,000!
What could you use this money for?
Saving money for a specific reason or purpose is the best way to stay consistent and motivated to keep saving.
Saving without any plan, purpose, or reason is a surefire way to get burned out and quit early on.
Think about what you want to save money for.
You may want to save this $5o a week for something like:
- a yearly vacation for your family (with a $2600 total budget)
- twice a year couple weekend getaways (with a $1300 budget for each)
- four overnight trips for your family to see attractions in your state (with a $650 budget for each)
- twice a month date nights for you and your spouse ($100 budget for each date)
- paying off your car loan ($200 extra on the principal each month)
- an early mortgage payoff ($200 extra on the principal each month – saves a lot on interest!)
- getting rid of student loan or personal loans ($200 a month)
- building an emergency fund ($2600 a year – save until you have 6 months of expenses saved, and then you can put the money aside for something else)
- saving to buy a new (to you) car with cash ($2600 a year or $13,000 in 5 years – a longer goal to reach, but a great way to save a little at a time for a bigger purchase that you can use cash for! Buy a new to you car for $13,000 every 5 years and never have a car loan!)
- a home project or a large purchase for your home (pay cash for a new sectional couch, new washer and dryer set, new kitchen appliance, carpet, bathroom vanity, or new home decor!)
As you can see, the ideas behind saving $50 a week are just about endless. Think about what matters to you and what you really wish you had money for.
Hard to pick?
Did a few of those ideas resonate with you and you are finding it hard to choose one thing to save for?
I would encourage you to pick the most important thing you want to save for right now and commit to that one thing.
Then, once you achieve that, you can work on the next goal. Or, see if you can find another $50 a week to either achieve the first goal in half the time then work on the next, or save $50 for each goal simultaneously. That’s your call!
Need some tips on how to start saving money?
It can be hard to find extra money to put aside in savings. Here are a few tips to get you started:
- Commit to eating at home every night – no more eating out.
- Cancel as many subscription services as you can (newspaper, cable, apps, streaming services, gym memberships, subscription boxes). Look at your bank statement to see what recurring charges you may have.
- No more online shopping – cancel Amazon Prime or store cards if you are buying too much.
- Unsubscribe from emails that make you spend money – deals newsletters or retailer emails.
- Cut out entertainment – Find fun things to do at home and free events in the community or have friends and family over instead of going out.
- Sell things – Declutter and have a yard sale or find things you can sell on Facebook marketplace to make more money.
- Get a side job or second job – Find something you can do in your spare time (even if just for a short season) until you reach your savings goal.
You can always review your bank statement to see how you are spending your money and where you can cut back to find a few extra dollars to save.
FREE Printable $50 Weekly Savings Tracker
Below you will find the free printable $50 weekly savings tracker. Use this to keep you on track and motivated to stick with your savings plan.
Print your free $50 weekly savings tracker here.
You can hang this on your fridge, keep it on your desk, or in your planner. It’s so helpful to see your progress visually, and have a way to keep yourself accountable.
You will also need to decide where you are going to put your money each week – if you don’t already have a savings account separate from your checking account, I would highly recommend opening one and putting all your money you want to save in that account.
Print your free $50 weekly savings tracker here.
You’ll be so glad you started this savings plan! Don’t wait till next month or next year. You can start today – the sooner you start, the more you will save!
You’ve got this! I’m so excited for you to have this money set aside to enjoy something special with your family, reach a goal, build your savings, or pay off some debt!
Once you get into the habit of saving money consistently every week, you will have such a great money saving routine that you can build on and save more and more over time.
Print your free $50 weekly savings tracker here!
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