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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- The most popular book* by a financial guru who's a household name for bringing individuals out of debt and misery
- A budgenista* who makes the challenge of saving money much more attainable with her Live Richer series
365-day year roundA 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)
52 weeks to save $3000If 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)
52-week challenge for kidsMake 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)
30-days to save $500You 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)
Monthly themesSticking 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)
No-spendSpeaking 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)
No spend weekendIf 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 Pin image)
$1,000 bingoIf 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)
10. Save according to game
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)
Track your money
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.
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
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).
For example, sell one old thing from around the house each month through an app like Decluttr or Letgo or websites like Craiglist or Amazon.
Money saving printableThese 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).
These money challenges will give your wallet a nice lift. Happy saving!
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