Is saving money one of your new year's resolutions? Then participate in the 52-Week Money Challenge! 

Creating a savings nest egg is important. According to Bankrate.com, 26% of Americans have no emergency savings at all, and the number of those with enough to cover six months worth of expenses shrank from 45% a year ago to 40% today. 

There are different ways to save — some people save extra money they receive, like tax refunds, birthday gifts or bonuses — but the best way to do it is do it regularly so that you can see your money grow.

Here's how the 52-week Money Challenge works:

In week 1, you save $1.

In week 2, you save $2.

In week 3, you save $3.

Although there isn’t a lot of money flowing into your savings account, this slow ramp up will get you in the habit of saving. 

By week 26, when you save $26, you’ll have $351.

By week 40, when you save $40, you’ll have $820.

By the end of the year, you’ll have saved $1378. To help make your savings easier, set up a personalized savings subaccount on Online Banking. Just log in to the account and click "Add Another Subaccount" and name it "52-Week Money Challenge" or whatever you like!