These fun money saving challenges will help you build your savings or pay off debts!
Saving money is a popular New Year’s Resolution for many families. The end of the year is a great time to evaluate your finances. Figure out where your money is going, and where you should cut back in order to have more in your bank account.
This is the time of year when many people are motivated and feel like they can accomplish anything, even saving money. That’s why money saving challenges designed to help you save money all year are so popular. Let’s take a look at 5 ideas that can help you decide how to save the most money in 2017!
Make sure you grab the fun 52-week money saving printable below too!
4 Fun Money Saving Challenges to Start the Year Off Right
1. Spare Change Challenge
If you’re searching for a fast and easy way to save money, this is it. At the end of the day, put all of your spare change in a money jar and watch it build up. You can’t get any easier than that.
You don’t have any rules to follow or any specific amount of money to save. Just toss that spare change in the jar and forget it. You can make it a little more interesting by adding single dollar bills whenever you can. By the end of the year, you should have a good amount of money saved.
2. 52-Week Money Saving Challenge
This may be the most popular way to save money throughout the year. This fun challenge involves saving a certain amount each week. Most charts add one dollar to the deposit each week. This allows you to save over $1300 in 12 months!
Download this handy 52-week money saving challenge printable to keep track of your journey!
3. The Penny Challenge
This is one of the easier fun money savings challenges that some people do have a little cash on hand. It works like the weekly challenge, though you stash away a penny on Day 1, two pennies on Day 2, etc. By the end of the year, you will have over $660 saved.
4. Monthly Savings Challenge
For some people, it’s easier to save money fewer times a year. They may not want the hassle of remembering to drop money in the piggy bank or jar every day or even every week. A monthly money saving challenge can be set up to still have the same money, you just deposit 12 times. Start with $20 and work your way up each month!
Most everyone wants to save money and these challenges can help. They’re easy to do and if for some reason you don’t complete the challenge, at least you gave it a try. You’ll also have more money saved than you did when you started, so you’re not losing anything.