When it comes to saving money, some might feel “ugh” about it. If this is you, then what you need for motivation is one of these creative money challenges that will actually help you to save money. Who knows, these might make the act of saving money fun enough to become a *gasp* habit.
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1. 365-day money challenge
A penny a day doesn't sound too bad, right? If you start off day one with $0.01 and increase the amount by a penny with each passing day, by the end of the year you'll have almost $668. A sizeable amount for "just pennies" a day. (via Saving Advice)
2. 52-week money challenge to save $3000
If it's easier to think in weeks than days, then following this challenge will get you a few thousand by the end of the year. You'll just need to save between $40-80 a week to get to this amount.
(via He and She Eat Clean)
3. 52-week money challenge for kids
Make saving money a family affair with this money saving challenge for kids. Start off with a quarter and increase each week by $0.25 to until the last week, which you save $13. The sum of all that saving will amount to almost $350.00. A good lesson to teach your kids how to save their money(via Mom Dot)
4. 30-day money challenge to save $500
You don't have to go for the entire year and can focus on a single month. In this short challenge, increase the amount you save by $1 each day, and by the end of the month you'll have saved a sizable chunk of change. (via Mint Notion)
5. 12-month money challenge
Sticking to the month theme, here's a unique twist to keep things interesting for a year. Each month, figure out one budget category to cut out. This "fasting" method can save you hundreds or thousands by the end of the year. (via Don't Pay in Full)
6. No spending money challenge
Speaking of fasting, another take is to try to not spend money for an entire month. Think that's impossible? Here's a helpful guide to teach you how to survive a month-long spending fast.
(via Don't Waste the Crumbs)
7. No spend weekend money challenge
If one month seems a bit too much for you, how about taking it down a notch and aiming for a no spend weekend? Here's a great list of (via a)
8. Save $1,000 money challenge
If you want to switch things up from a traditional predictable money saving challenge, try this chart. Pick one amount each week to save. Once you blackout bingo the entire list, you'll have $1,000. (via Budgets are Sexy)
9. Envelope savings challenge
Similar to the one above but with physical envelopes that you would fill up with actual bills or coins. It's somewhat like an adult version of a piggy bank. You can also choose what amounts to save in each envelope. (via Frugal Fit Girl)
10. Save according to... money challenge
How about the dollar amount that you’ll save in the day / week / month determined by an external factor.
- The minute hand on the clock when you glance at it each morning
- The weather (degrees)
11. Track your money challenge
You don't necessarily need to focus on saving as your goal for the money challenge. Just by tracking where your money goes can give you insight on what areas you can cut down your spending in. Being more aware of your financial situation may cause you to inadvertently cut down unnecessary spending.
You can use an app like Personal Capital to conveniently track where your money is going.
12. Reduce spending challenge
If you don't want to do the no-spend challenge, another variation that would also help you cut your spending is to find cost-effective alternatives for the things you use regularly. Some examples:
- Make your own coffee instead of buying
- Pack lunch instead of eating out
- Try an alternative brand to something you use regularly
- Watch movie during matinee versus evening
- Read these tips to reduce grocery bill
13. Make money challenge
Another way to add money to your bank account if you don't feel like saving it is to make more money (maybe even consider a side hustle). Some examples:
- Sell one old thing from around the house each month through an app like Decluttr or Letgo or websites like Craiglist or Amazon. Some people make a living just by selling on Amazon, like this family who even have a free course to get you started if you're interested.
- Earn $100 by driving for Uber in the next two weeks.
Money saving printable
These are just a few of the many great variations of money challenges that will actually help you save money that you can take part in. Get family and friends to join in on the fun for another exciting way to motivate you or come up with your own ideas for how you will save. Here's an editable printable savings tracker (no sign up required). Happy saving!