5 Questions About The #52WeekChallenge

Hi there! We are in Week 29 of the #52WeekChallenge. We zoomed past the halfway mark a few weeks ago! This post is an aggregation of the questions that I receive from my readers in the comments section, on email, and on Twitter DMs. I am not able to respond to them all, but hopefully, this post will help.

How much should we have saved so far?

This post goes up on the 15th of July, which is the beginning of Week 29 of the #52WeekChallenge. Here are the amounts you should have saved up so far:

Challenge                                          Total so far (KES)

50                                                             21,750

100                                                           43,500

200                                                           87,000

500                                                           217,500

How do I keep track of how much I am supposed to save?

This year, we have made it very simple to track your savings. Download the Money Box Savings Tracker from the Google Playstore, and set up your savings goal. Whenever you deposit money on your M-Shwari Lock Savings Account, tick the amount off on the app. Remember to turn on the reminders so the app can remind you to save. You can also read this blog’s articles in the magazine section of the app.

I started the #52WeekChallenge but got a financial need that forced me to withdraw all my savings. Can I still save?

Of course you can! Our savings are supposed to cover us when a need arises so you did nothing wrong by withdrawing. You, however, should not be discouraged from starting all over again, because we are trying to build that saving discipline. Reset the app and start saving today!

Can I save more than KES 68,900 per year?

Yes you can! KES 68,900 is the minimum target for you to get an entry to the M-Shwari bonus reward system. There is no limit to how much you can save. Set your goal and work towards it. You can also save less than KES 68,900 a year.

How do I get an M-Shwari bonus reward?

I am not involved in the selection of the awardees, but this is what I know. At every milestone (3 months, 6 months, 9 months, and 12 months), M-Shwari picks a random 2,000 people to reward with a deposit. The amounts range between 1,000 and 5,000 shillings. To get an entry into this, your target needs to be a minimum of KES 68,900 and you must have hit your milestone target.

Featured  image:  Flickr