As you might already know that the Tick-a-week savings challenge starts on 1st January 2018.
This challenge is unique, scientific and most importantly fun. It is based on the Progress Principle and the Habit Loop.
Understanding the Progress Principle
Small Wins Lead to Big Success
Teresa Amabile, author and Professor at the Harvard Business School, has written a book called The Progress Principle.
The theory of this book is a deduction of a survey conducted by Dr Teresa and her associates on 238 employees across different companies and industries, via a daily diary where the progress of each day was recorded dilligently.
Nearly 12000 days of data was analysed to deduce that the "The single most important event leading to positive inner work life is making progress in meaningful work, even seemingly incremental progress or “small wins.” This is the progress principle".
This is the same concept behind the fitness trackers, which are helping people track and record their activity, sleep, calories consumed, calories spent throughout the day.
The following quote by Joseph Marsall sums up the whole idea;
"Success is rarely the result of one swell swoop, but more often the culmination of many, many small victories". Joseph M. Marshall III
To make this Habit Loop of Cue, Routine and Reward possible, I have created a custom-made excel template that allows you to Track and Tick your progress every week.
How to use the template?
Using this template is very simple, you start with entering your annual income in the specific cell.
Once you have entered your annual income, the template will automatically calculate your monthly and weekly savings goal.
Save your weekly target every week, Track and tick your progress by ticking the box against each week, starting 1st January 2018 for 52 weeks.
Slowly but steadily you not only develop the savings habit but you also end up saving a substantial amount of money by the end of 2018.
Invite your friends and colleagues
Any challenge is more fun when you include friends and family. This challenge is no different, invite your friends, colleagues and family to join us in this challenge and save more in 2018.