They were advised to focus on the bright side, and even the pandemic, as surprising as it sounds, brought a silver lining: savings levels in Spain rising to their highest in more than a decade.
With such a cushion, many people are accustomed to having a little spare cash tucked away, and now, as life gradually returns to its normal pace, those savings often start to vanish. It feels just as hard to rebuild the habit of saving as it did back in March of last year.
Saving with intention is powerful, so the most effective methods deserve another look. The 52‑week challenge remains a popular approach that can yield a substantial amount once the cycle is completed.
How to save around 500 euros with the 30‑day method?
From one year to the next, or week to week within a year, savings tend to grow steadily. In the first week, one euro is set aside; the second week, two euros; the third week, three euros, and so on. By the final week, fifty‑two euros are saved. It sounds simple, yet it works. Completing the challenge and depositing the last amount results in about 1,378 euros, a figure that feels significant and can fund a vacation or a personal treat. As a result, many people choose to start the challenge after the summer break or at the start of the Christmas season.
Invisible expenses: what they are and how to avoid them to save
While this method appears straightforward, it comes with its own challenges. Week by week, the unspent portion grows, and the money once spent becomes less available for routine expenses. The standard of living may dip, but when weighed against the amount saved, the change often goes unnoticed.
The 52‑week savings challenge is especially flexible. It can be tailored to different budgets and goals. Some people begin with 50 cents and increase by 50 cents each week, reaching 689 euros by year end. Others choose a bolder start, like 10 euros, which means higher weekly increases and a year‑end total that can exceed 13,780 euros.