Home GUIDE: Ipon Challenges (with PRINTABLE 52-week challenge)

GUIDE: Ipon Challenges (with PRINTABLE 52-week challenge)

The Ipon Challenge with PRINTABLE 52 week challenge

Estimated reading time: 6 minutes

With the world’s current economic situation, financial discipline is no longer optional. It’s a MUST! Prices of goods can skyrocket at a moment’s notice, and that Japan trip you were saving for has probably doubled in price. So start the 52-week Ipon Challenge now, and reward yourself with a nice vacation or the latest GPU model by the end of the year!

Before starting the challenge, you must keep in mind that it takes an iron will and spartan discipline to see its end. Nonetheless, don’t be discouraged if you have none of those. If you stick with your chosen plan, it will become a routine for you, and you won’t even notice that you have saved up so much!

The Ipon Challenge

“Ipon” is the Filipino word for savings. So now you might wonder, what’s the difference between my savings in my bank account and the piggy bank? Your bank savings is money you set aside for a rainy day or long-term goals such as starting a business. 

Ipon, on the other hand, is savings from rewarding yourself as a form of self-discipline.

Not only does ipon help you change for the better, but it also encourages you to change bad habits into good ones. So, without further ado, here are some Ipon Challenges!

The Standard 52-week Ipon challenge

The typical way to conduct the 52-week challenge is to increase the amount you save weekly. So, for example, if you set aside 20 Php in the 1st week, your next goal is to keep 30 Php as ipon for the next week and keep increasing the amount up until the year’s end, which is to save Php 530! Now that might seem daunting, but you will be saving every week.

The advantage of the standard 52-week ipon challenge is you can set your own weekly goals. Think of it this way; if you set your weekly goals to start at Php 7 per week and increase it by 7 every week, you can save a whopping Php 66,795!

Moreover, you can add some spice to it by, let’s say, breaking your smoking addiction. So every time you feel like smoking, set that money aside so you don’t buy one and add it to your weekly ipon!

Below is a 52-week Ipon Challenge created by WhatALife! It is editable through Google Sheets or Excel.

Steps on how to use the WhatALife! 52-Week Ipon Challenge Sheet:

Step 2. Change the Weekly Increment to the desired amount.

After the weekly increment input, the amount under the “Increment” column will automatically update. This also includes the total amount at the bottom of the page.

Step 3. Start saving!

Visit the sheet every week and tap the checkbox to keep track of your progress.

The Ipon Scratch-it Challenge

This Ipon Challenge differs from the standard one by setting a target amount of savings you wish to achieve by the end of the year. Then, you create a plan to divide your targeted goal by 52 and distribute the values randomly, as seen in the example chart below.

This challenge’s goal is to save whatever money you have on hand while trying to reach your target savings amount. Simply mark the amount you held weekly and then mark out all denominations until the 52nd week!

The “Change For The Better” Ipon Challenge

This challenge is the most difficult out of all the Ipon challenges since it targets two birds with one stone. For example, save some money and lose some weight rather than having your 10th snack for the day. Not only does it make you healthier, but you also gain some financial discipline which will help you in the long run.

Moreover, this challenge does not have strict rules on what you wish to change about yourself and the amount you want to save. If you think you need to stop your weekend drinking sprees, drop your drinking money on the piggy bank to control your drinking habit while rewarding your future self.

The challenge might seem like you need to change something negative about yourself. However, you can also do something positive and reward yourself! A good example would be taking on a new hobby and making a profit, such as gardening or being a digital artist.

The Pocket Change Ipon Challenge

This Ipon challenge is the most flexible and the easiest of all the challenges on this list. The challenge can simply be to save whatever change is left in your pockets at the end of the day. Or, if you feel generous, add some unwanted bills (such as a crumpled Php 50 bill).

Doing this challenge helps you keep track of your daily expenses and aid you in planning how to spend your finances in the future. However, unless you are highly dedicated, the Peso Sense Challenge can be easily forgotten, which is why this challenge is best to do in tandem with the other challenges mentioned above.

Tips and Tricks On How To Effectively Complete The Ipon Challenge

  • Just keep moving forward. If you have skipped saving for a few weeks, don’t be discouraged.
  • Although we have discussed the difference between Ipon and bank savings, opening a bank account for your Ipon is also viable. The advantage of putting your Ipon in a bank account is that it can accumulate interest, increasing your savings over time.
  • There is no need to overcomplicate your Ipon challenges. If you cannot meet your weekly goal, save whatever amount you can and move on. The Ipon challenge must be at the lowest rank in your financial priorities.
  • Always prioritize yourself. Though you can set your limits, never skip meals just to save some spare change for your Ipon challenge.

Final Piece Of Advice

Like many new year’s resolutions, the Ipon Challenge’s goal is for you to improve for the better. As long as you’re dedicated to improving yourself, saving money is a secondary objective, unless you are saving for that winter Japan trip to see the sakura bloom!

With the start of a new year, committing to a new routine will help you grow as a person as the year passes. Of course, a year might sound like a long time, but when you start to internalize and look back, the last few years went by in the blink of an eye. 

Like many challenges, the Ipon Challenge may be daunting and hard at first. However, it’s one of the most satisfying challenges in the end. So, keep calm and keep saving! – WhatALife!/Vaughn

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