In order to help you stack up some serious funds, we\u2019ve put together a comprehensive list of money saving challenges to pick from. There are \u201crandomized\u201d challenges for those who enjoy the feeling of serendipity, 52-week challenges for those who really want to get that bang for their buck, light-lifting challenges for those who don\u2019t want to take on too much at once, and every other sort of money saving challenge in between. <\/p>\n\n\n\n
Take a look and choose the one that sounds the most manageable and fun to you!<\/p>\n\n\n\n
\n\n\n\n
Money Saving Challenges<\/h2>\n\n\n\n- 52-Week Challenges<\/strong><\/a><\/li>
- 365-Day Challenges<\/a><\/strong><\/li>
- Paycheck and Salary-based Challenges<\/a><\/strong><\/li>
- Incidental Money Challenges<\/a><\/strong><\/li>
- Randomized Challenges<\/a><\/strong><\/li>
- Shorter-term Challenges<\/a><\/strong><\/li>
- Light-lifting Challenges<\/a><\/strong><\/li>
- Paring Back Challenges<\/a><\/strong><\/li>
- Extra Fun Challenges<\/a><\/strong><\/li>
- Vacation Savings Challenges<\/a><\/strong><\/li>
- Holiday Gift Challenges<\/a><\/strong><\/li><\/ul>\n\n\n\n
\n\n\n\n52-Week Money Saving Challenges<\/h2>\n\n\n\n![\"Male](\"https:\/\/www.accrediteddebtrelief.com\/blog\/wp-content\/uploads\/2022\/07\/52WeekMoneyChallenge.jpg\")
<\/figure>\n\n\n\nThis tried-and-true challenge and its offshoots are sure to help you find your way to that year-end nest egg you\u2019re looking to grow.<\/p>\n\n\n\n
Classic<\/strong><\/h3>\n\n\n\nThe Classic 52-Week Money Saving Challenge involves putting in a corresponding dollar amount for each of the 52 weeks in a year. For example, for week one of the challenge, you\u2019d deposit $1 in savings, for week two, you\u2019d deposit $2, and so on. By the end of one year, you\u2019ll have racked up a healthy $1,378!<\/p>\n\n\n\n
Reverse<\/strong><\/h3>\n\n\n\nThe Reverse 52-Week Money Saving Challenge is exactly what it sounds like. Instead of starting with a $1 deposit, you start with $52 in your first week and work backwards. If you like the idea of progressing to less and less savings obligations as the year goes on, this could be the challenge for you! And you\u2019ll save exactly what you would with the \u201cClassic:\u201d $1,378.<\/p>\n\n\n\n
Double<\/strong><\/h3>\n\n\n\nIf you have more disposable income or just want to give yourself more of a challenge, you might try doubling the amount you deposit each week. So week one would have you depositing $2, week two would be $4, etc. All in all, with this challenge you\u2019ll save $2,756 by the end of the year.<\/p>\n\n\n\n
Mini<\/strong><\/h3>\n\n\n\nMaybe the \u201cClassic\u201d requires too much money for what you\u2019re reliably able to save up. That\u2019s OK! Take on the Mini 52-Week Challenge. Just halve the amounts you\u2019d save for the Classic version \u2014 so $0.50, then $1, then $1.50, and so on. You\u2019ll still save a nice $689 by the end of the year. Nothing to sneeze at!<\/p>\n\n\n\n
Randomized<\/strong><\/h3>\n\n\n\nIf you like the idea of throwing the dice, put 52 slips of paper in a hat with amounts ranging from 1 to 52, and select at random how much you\u2019ll deposit that week!<\/p>\n\n\n\n
Flexible<\/strong><\/h3>\n\n\n\nMaybe your weekly income isn\u2019t always consistent. If that\u2019s the case, try the flexible version of this challenge. Create a chart with amounts from 1 to 52, and simply deposit an amount that\u2019s realistic each week, crossing them off as you go. You\u2019ll save just as much as with the \u201cClassic,\u201d but you\u2019ll be giving yourself some room to compensate for slower weeks.<\/p>\n\n\n\n
$20<\/strong><\/h3>\n\n\n\nThis challenge makes things real simple. If you don\u2019t feel like keeping track of those incremental amounts, simply deposit $20 (or a set amount of your choosing) weekly. If you opt for the $20 amount, you\u2019ll end up with a cool $1,040 by the end of one year.<\/p>\n\n\n\n
365-Day Money Challenges<\/h2>\n\n\n\n![\"graphic](\"https:\/\/www.accrediteddebtrelief.com\/blog\/wp-content\/uploads\/2022\/07\/365MoneyChallenges.jpg\")
<\/figure>\n\n\n\nThese challenges are a twist on the 52-week ones, but have you saving daily instead of weekly. If you\u2019re good at following a routine, these challenges could be a good fit for you.<\/p>\n\n\n\n
Penny<\/strong><\/h3>\n\n\n\nThis is a pretty low-commitment challenge! You only have to deposit a single penny on day one, then incrementally increase your savings amount by a single cent each day (until you reach the final deposit amount of $3.65). It doesn\u2019t seem like a whole lot but if you stick to your schedule, you\u2019ll have saved a total of $667.95 by the end of one year.<\/p>\n\n\n\n
Nickel<\/strong><\/h3>\n\n\n\nIf you\u2019re interested in saving a bit more, take on the nickel version of this challenge. Day one you\u2019ll save a single nickel, then $0.10, $0.15, up to $18.40 by the time you reach day 365. With the 365-Day Nickel Challenge, you\u2019ll have saved a whopping $3,339.75 by year\u2019s end.<\/p>\n\n\n\n
Paycheck and Salary-based Challenges<\/h2>\n\n\n\n![\"Calendar](\"https:\/\/www.accrediteddebtrelief.com\/blog\/wp-content\/uploads\/2022\/07\/PaycheckChallenges.jpg\")
<\/figure>\n\n\n\nBasing your savings challenge on how much you\u2019re taking in each year \u2014 or simply following the same schedule as your paycheck \u2014 can sometimes help make things easier.<\/p>\n\n\n\n
26-Week Bi-Weekly <\/strong><\/h3>\n\n\n\nWith this challenge, you\u2019re following a similar pattern to the 52-Week Challenge, but instead you\u2019re setting your deposits on a bi-weekly schedule. Save a total of $1,053 by depositing in increasing increments of $3 ($3, $6, $9 \u2026 $26) or save $1,404 with increments of $4 ($4, $8, $12 \u2026 $104). Any increment you use will work!<\/p>\n\n\n\n
Twice Per Month<\/strong><\/h3>\n\n\n\nMaybe you actually get paid twice a month (50 paychecks a year). In this case, use this handy chart<\/a> to follow a similar increasing deposit pattern as one version of the 26-Week Bi-Weekly challenge that leaves you with $1,378 at the end of the year.<\/p>\n\n\n\nTrim 1% of Your Salary<\/strong><\/h3>\n\n\n\nWhile the name of this challenge might sound like a drag, in reality, you\u2019re actually giving yourself a 1% salary bonus! This challenge involves calculating 1% of your salary, looking at your budget, and then finding ways to save that amount by the end of the year.<\/p>\n\n\n\n
Let\u2019s say your salary is $45,000. 1% of that is $450, so you might limit your streaming subscriptions, start buying generic brands, find a cheaper mobile or internet plan \u2014 anything that would add up to that $450.<\/p>\n\n\n\n
Incidental Money Challenges<\/h2>\n\n\n\n![\"Figure](\"https:\/\/www.accrediteddebtrelief.com\/blog\/wp-content\/uploads\/2022\/07\/IncidentalMoneyChallenges.jpg\")
<\/figure>\n\n\n\nSome people enjoy a less structured, and more whimsical approach to things. If that\u2019s the case for you, one of these chance-driven money saving challenges might be just what the doctor ordered.<\/p>\n\n\n\n
$1 Bill<\/strong><\/h3>\n\n\n\nThis is a good one if you\u2019re on a tighter budget. Very simply, if you get a $1 bill in change, it goes towards savings! You can do this for any set amount of time \u2014 maybe you just try it for a couple of months. Or if you want a bigger stack of cash in the end, do it for a whole year. Just make sure you actually pay with cash frequently enough for this challenge to be worth it.\u00a0<\/p>\n\n\n\n
$5 Bill<\/strong><\/h3>\n\n\n\nYou guessed it! This is a variation on the $1 bill challenge using $5 bills instead.\u00a0<\/p>\n\n\n\n
Money Mistake<\/strong><\/h3>\n\n\n\nThe Money Mistake Challenge essentially acts as a failsafe for financial missteps. For the span of one year, if you do something silly like paying a bill late (inciting an extra fee) or making an impulse buy, you have to put the same amount you spent on the mistake into savings (or $5 if matching the expense is too much). This is a win-win! If you made some \u201cmistakes\u201d here and there, you\u2019ll have a nice sum on the side and an awareness of something you might want to address in the future. And if you didn\u2019t save anything, that means you were financially savvy!<\/p>\n\n\n\n
Tax Your Vices<\/strong><\/h3>\n\n\n\nThis one also does double-duty \u2014 incentivizes kicking bad habits and adds to your savings when and if you do indulge. Your \u201cvice\u201d could be anything you define as an unhealthy or unsavory habit. This could mean putting a dollar in a swear jar every time you let an expletive slip, or allocating a dollar to savings every time you buy an expensive coffee.<\/p>\n\n\n\n
Randomized Challenges<\/h2>\n\n\n\n![\"Female](\"https:\/\/www.accrediteddebtrelief.com\/blog\/wp-content\/uploads\/2022\/07\/RandomizedChallenges.jpg\")
<\/figure>\n\n\n\nThese money saving challenges are similar to the \u201cincidental\u201d ones in the sense that they don\u2019t set a specific savings goal and they rely on some level of chance. However, with this group, it depends not on your behavior, but on true serendipity.<\/p>\n\n\n\n
Weather Wednesdays<\/strong><\/h3>\n\n\n\nA clever blogger<\/a> came up with this fortuitous challenge. For any given period, every Wednesday, you\u2019ll deposit an amount that matches the high temperature that day. If you live in a warm climate year-round, you could save upwards of $3,000 in a year! If you want to make this a short term challenge, pick a season appropriate for your means (winter for less income at your disposal, summer for more).<\/p>\n\n\n\nRoll the Dice<\/strong><\/h3>\n\n\n\nThe basic version of this money saving challenge is that you roll a die each day and tuck away the amount on the die in dollars. Probabilities being what they are, this challenge will help you save well over $1,000 in a year. Feel free to create variations where you roll two dice for more savings, or only roll once a week for a lower commitment. If you like the idea of an actual gameboard, pay $3 to download the colorful Stackopoly<\/a> game, another version of this fun challenge.\u00a0<\/p>\n\n\n\n100 Envelope Challenge<\/strong><\/h3>\n\n\n\nThis is a challenge for folks with a little more cash flow. You\u2019ll number a hundred envelopes from 1 to 100, mix them up, and pick one at random each day. Whatever number you get, you must either insert that amount of cash, or deposit that amount in savings. Just make sure if you are<\/em> using cash, to deposit it at least every month so that it\u2019s safe in the bank and accruing interest. In just over three months, you\u2019ll have saved an impressive $5,050. If every day is a tad much for you, you can also make this a twice weekly challenge. You\u2019ll have saved this amount just before a full year completes!\u00a0<\/p>\n\n\n\nShorter-term Challenges<\/h2>\n\n\n\n![\"Graphic](\"https:\/\/www.accrediteddebtrelief.com\/blog\/wp-content\/uploads\/2022\/07\/ShortTermChallenges.jpg\")
<\/figure>\n\n\n\nMany of the money saving challenges we\u2019ve listed are designed to be completed over the span of a year. But there\u2019s nothing that says you can\u2019t adjust each challenge to be shorter-term! Alternatively, you can pick one of the challenges below that\u2019s designed to be finished in less time.<\/p>\n\n\n\n
6-Month<\/strong><\/h3>\n\n\n\nThis challenge will have you saving $1,378 in half a year! In your first week, save $3, then go up by increments of $4. Your last deposit will be $103. Or if you like, start with $103, and decrease the amount each week!<\/p>\n\n\n\n
3-Month<\/strong><\/h3>\n\n\n\nThis low-commitment challenge simply requires an $84 deposit each week. Seems easy, but you\u2019ll be up $1,000 by the time the three months are up.<\/p>\n\n\n\n
12-Week<\/strong><\/h3>\n\n\n\nThis challenge is similar to the previous 3-Month one, but keeps things dynamic with an increasing deposit amount. Start with $10, and increase by another $10 each week. Your final deposit will end at $120, and you\u2019ll have saved $780 by the end.<\/p>\n\n\n\n
Pantry<\/strong><\/h3>\n\n\n\nYou likely already have untapped value right in your kitchen! Challenge yourself to \u201cclean out\u201d your pantry, fridge, and freezer by consuming everything in there before eating out or doing another major grocery shop. You might allow yourself to buy a couple things like fresh produce and protein to round out the meals, but it\u2019s possible you already have those things frozen.\u00a0<\/p>\n\n\n\n
33.3<\/strong> <\/h3>\n\n\n\nGeared towards folks with a bit more disposable income, the 33.3 Challenge lasts only a month and offers a hefty $999.90 as its final savings tally. Just deposit $33.33 every day. That\u2019s it. And if you decide to do a month with 31 days, you\u2019ll sail past the thousand dollar line to reach $1,032.30.<\/p>\n\n\n\n
30-Day Meal Plan<\/strong><\/h3>\n\n\n\nFor 30 days, build your diet around meals that you or your significant other prepare yourselves. Not only will you save by not eating out (an expensive habit), your grocery bill will go down because to some degree, you\u2019re buying in bulk (i.e. a whole chicken for multiple meals), and potentially freezing a lot of expirable ingredients. Try these ideas<\/a> for more grocery savings.<\/p>\n\n\n\nCash Only For a Month<\/strong><\/h3>\n\n\n\nThis one’s just what it sounds like \u2014 you\u2019ll only use cash for a month. Psychologically, using cash to pay for things makes you a lot more aware of how much you\u2019re spending. Paying with a card does the opposite by allowing you to hand the piece of plastic over and hardly look at the actual charge. Try this challenge to not only save, but give yourself some good financial awareness.<\/p>\n\n\n\n
31 Days to Improve Your Financial Life<\/strong><\/h3>\n\n\n\nIf you\u2019re game for a real month-long project that\u2019ll turn your financial life around for the better, take on this little diddy. Specially designed by personal finance blogger Phillip Taylor, the 31 Days to Improve Your Finance Life Challenge<\/a> will have you doing daily activities like adjusting your 401(k), figuring out what assets you have, and reducing your interest rates. This one is a real game changer.<\/p>\n\n\n\nLight-lifting Challenges<\/h2>\n\n\n\n![\"Woman](\"https:\/\/www.accrediteddebtrelief.com\/blog\/wp-content\/uploads\/2022\/07\/LightLiftingChallenges.jpg\")
<\/figure>\n\n\n\nDon\u2019t have much time on your hands? Try one of these money saving challenges for which you\u2019ll hardly have to lift a finger.<\/p>\n\n\n\n
Round Up<\/strong><\/h3>\n\n\n\nMany banks have a new option that allows you to round up to the nearest dollar on your purchases, with the \u201cremainder\u201d amount going straight into savings. For example, if you purchased a coffee for $3.12, your credit card would be charged $4 \u2014 $3.12 for the coffee and $0.88 towards savings. If your bank doesn\u2019t offer this, apps like Acorns<\/a> will take care of it for you!<\/p>\n\n\n\nDollar<\/strong><\/h3>\n\n\n\nThe Dollar Challenge only requires you to save one single solitary dollar each day. Deposit it, or put it in a hidden jar \u2014 wherever you feel the money is safest. This\u2019ll net you $365 by the end of the year \u2014 not a huge windfall, but you\u2019ll have built a great savings habit. And hey, $365 is not nothing after all!<\/p>\n\n\n\n
1%<\/strong><\/h3>\n\n\n\nSimple. Up your 401(k) contribution by 1%. In two months, raise it again by another 1%. If you want to save for the more immediate future, just replicate this outside of a 401(k): set up an automatic transfer of 1% of your gross income into a special savings account each time you get paid.<\/p>\n\n\n\n
Paring Back Challenges<\/h2>\n\n\n\n![\"Graphic](\"https:\/\/www.accrediteddebtrelief.com\/blog\/wp-content\/uploads\/2022\/07\/ParingBackChallenges.jpg\")
<\/figure>\n\n\n\nIf you feel like there are places you could afford to cut back on spending but you don\u2019t know where to start, take a whack at one of these babies.<\/p>\n\n\n\n
Kick a Bad Habit<\/strong><\/h3>\n\n\n\nHave a \u201cbad\u201d habit you wish you could leave behind? Smoking, drinking soda, buying expensive coffee, or the like? Well maybe instead of saying you\u2019ll never have a single expensive coffee ever again, challenge yourself to set these purchases aside for just a month. It\u2019ll feel a heck of a lot more achievable, and you\u2019ll be saving whatever you would have spent on the expense. And who knows! By the time you hit the end of the month, you may not feel the need for that thing anymore.<\/p>\n\n\n\n
Expense Tracking<\/strong><\/h3>\n\n\n\nMore than a concrete savings goal, this challenge targets an awareness of where all your expenses are going. You\u2019ll pick a period (1-3 months) during which you\u2019ll track all your expenses and categorize them. You can use paper and pen or an app like Mint<\/a>. Essentially, you\u2019re looking for places where you might be able to cut down on superficial or extraneous purchases.\u00a0<\/p>\n\n\n\nNo Spend<\/strong><\/h3>\n\n\n\nIt\u2019s really up to you how long you take this challenge on for. It can be one day, one day each week, or a whole month. The idea here is to cut out discretionary spending for the period you land on. You may still have to pay for transit and other basic needs, but when it comes to extra snacks, clothes, or anything else that isn\u2019t totally necessary, you\u2019ll let those things go. If you like, you can make a note of each point where you neglect to make a purchase you wouldn\u2019t have otherwise, and put that money directly into savings. As an extra bonus, you may even end up enjoying the creative problem-solving you\u2019ll have to do during these times!<\/p>\n\n\n\n
No Eating Out<\/strong><\/h3>\n\n\n\nAccording to the Bureau of Labor Statistics, the average American household spends $2,375 eating out in a single year<\/a>. If you or your family are the types to forego a home-cooked meal for takeout, delivery, or a dine-in experience, you could really save a lot of money by taking on the No Eating Out Challenge. Very simply, give up restaurant and takeout food for 30 days. You\u2019ll be gobsmacked at the amount you save just by preparing your own food.<\/p>\n\n\n\nCancellation<\/strong><\/h3>\n\n\n\nHow many subscriptions do you currently have? If you\u2019re not sure, it may be time to take on the Cancellation Challenge. It\u2019s all about itemizing your subscriptions (streaming services, monthly app charges, etc.), and cancelling as many as you can. <\/p>\n\n\n\n
\n<\/div>\n\n\n\n\n![\"\"](\"https:\/\/www.accrediteddebtrelief.com\/blog\/wp-content\/uploads\/2022\/01\/icon-tips.png\")
<\/figure><\/div>\n<\/div>\n\n\n\n\nPRO TIP:<\/strong>
If you\u2019re a streaming junky, try just subscribing to one content subscription at a time. Once you\u2019ve blazed through the Hulu shows that appeal to you, cancel that and join Netflix!<\/p>\n<\/div>\n<\/div>\n\n\n\nCoffee Break<\/strong><\/h3>\n\n\n\nDo you buy a coffee every day from Starbucks or another pricey coffee shop? Business Insider calculated that someone who buys a single $5 coffee daily spends $1,200 a year, while brewing at home would cost $45 in that same year<\/a>. Even if you challenge yourself to make your own coffee for only one month, you\u2019d be saving a sweet hundo and still getting that caffeine hit you so desperately need. You may want to deposit the amount you\u2019d be saving on your speciality coffee straight into your savings! So if your favorite latte is $2.75, each time you make your own cup of joe, set that amount aside for the future.<\/p>\n\n\n\nNo Soda or Alcohol<\/strong><\/h3>\n\n\n\nMaybe coffee isn\u2019t your bag, but you order a beer every day after work. Or maybe neither of those things strike your fancy, but you always get a big old Coke for lunch. Challenge yourself to cut that particular beverage out of the budget for just one month. These things add up, and you may be surprised at how much you actually save. To keep motivated, download or draw out a chart like this one<\/a>.<\/p>\n\n\n\nNo New Clothes<\/strong><\/h3>\n\n\n\nThis challenge may be tough for folks who enjoy retail therapy, but it\u2019s actually designed for exactly this type of person. Most of us have more than enough clothes to keep us warm throughout the year, but we may feel inclined to spice up the wardrobe more than is really necessary. If this sounds like you, challenge yourself not to buy new garb for one whole year. You may want to check out how much you spent on your attire the previous year, divide by 12, and put that amount into savings each month.<\/p>\n\n\n\n
Switch Services<\/strong><\/h3>\n\n\n\nTalking to customer service reps is rarely fun, but this challenge could help you save for an indefinite period by doing a simple one-time chore. Call your mobile, electric, gas, internet, and cable providers to see if they can offer you a customer discount. Especially if you\u2019re a loyal, long-time customer, they may be able to shave some cost off your monthly bill. If they say no, call around to see if another provider can offer you those savings. <\/p>\n\n\n\n
Save Money at a Different Grocery Store<\/strong><\/h3>\n\n\n\nIf you find that your grocery bill seems inordinately large, try shopping at a discount grocery store<\/a>. Replicate your last shopping trip\u2019s receipt at this new store (making sure you\u2019re getting the same amount of each item), and compare prices. You may decide this is a change you want to make permanent.<\/p>\n\n\n\nHobby Swap<\/strong><\/h3>\n\n\n\nDo you have a pricey hobby? Golfing, rock climbing \u2014 even woodworking can get expensive. If you\u2019ve found yourself spending a pretty penny on your pastime, challenge yourself to pick up a less expensive \u2014 or even free \u2014 hobby for a month, setting aside your costly one. Things like hiking, journaling, drawing, and volunteering at an animal shelter can be incredibly fulfilling, but will keep your wallet from leaving your pocket too often (or at all).<\/p>\n\n\n\n
No Car<\/strong><\/h3>\n\n\n\nGas \u2014 especially when the political and economic climates turn against us \u2014 can be incredibly pricey. The No Car Challenge dares you to get around for at least one month with car alternatives: bike, train, bus, or even carpooling. If you do have to use your car, plan out your trips so that you get all your chores done in one fell swoop so that you\u2019re still using it minimally. This challenge is best for people who live in areas with good public transportation infrastructure.<\/p>\n\n\n\n
Extra Fun Challenges<\/h2>\n\n\n\n![\"Bowl](\"https:\/\/www.accrediteddebtrelief.com\/blog\/wp-content\/uploads\/2022\/07\/ExtraFunChallenges.jpg\")
<\/figure>\n\n\n\nIf you feel like you need a tiny bit more motivation, try one of these challenges that’ll add a little extra oomph.<\/p>\n\n\n\n
Money Throwdown<\/strong><\/h3>\n\n\n\nSome people thrive on competition. If that\u2019s you, challenge a friend or family member to the Money Throwdown Challenge. You can decide on the rules together, but you might try to be the one to save $1,000 the fastest or alternatively, save the most in some set amount of time.<\/p>\n\n\n\n
Bowl Grab<\/strong><\/h3>\n\n\n\nThis is a fun one to do with your significant other, or potentially the whole family! Write out different cash denominations on slips of paper (i.e. $1, $5, $10, $20), and put 30 of them in a bowl. Take turns picking out a slip each day, and whatever dollar amount you get, you have to put that amount in savings. By the end, you\u2019ll have collectively saved around $282 in one month (if you put in roughly equal amounts of each denomination on the slips).<\/p>\n\n\n\n
Savings Fever<\/strong><\/h3>\n\n\n\nIf you\u2019re the creative type, you might enjoy creating a DIY Savings Fever chart. Draw a large thermometer on a posterboard, adding your savings goal on top and inserting smaller savings goals in intervals along the thermometer. As you save, fill in the thermometer with marker colors that go from cool, to warm, to hot, hot, hot!<\/p>\n\n\n\n
Monthly Money Challenge<\/strong><\/h3>\n\n\n\nFeeling ambitious? Try the Monthly Money Challenge! This one involves picking twelve \u2014 yes, twelve! \u2014 money saving challenges, and completing one per month. If you\u2019re worried you\u2019ll get bored by one full-year challenge, this puppy will help you avoid the drudgery with an ever-changing savings dynamic. You should have plenty to pick from on this very list!<\/p>\n\n\n\n
Vacation Saving Challenges<\/h2>\n\n\n\n![\"Graphic](\"https:\/\/www.accrediteddebtrelief.com\/blog\/wp-content\/uploads\/2022\/07\/VacationSavingChalleges.jpg\")
<\/figure>\n\n\n\nIf you\u2019re specifically looking to save for a spectacular trip, try one of these money saving challenges!<\/p>\n\n\n\n
Straightforward<\/strong> <\/h3>\n\n\n\nOne year before your vacation, plan out how much you\u2019ll be spending on the entire trip. Divide by 12, and make sure you\u2019re setting aside that amount each month for your great adventure.<\/p>\n\n\n\n
8-Week<\/strong><\/h3>\n\n\n\n
\n\n\n\n
52-Week Money Saving Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nThis tried-and-true challenge and its offshoots are sure to help you find your way to that year-end nest egg you\u2019re looking to grow.<\/p>\n\n\n\n
Classic<\/strong><\/h3>\n\n\n\nThe Classic 52-Week Money Saving Challenge involves putting in a corresponding dollar amount for each of the 52 weeks in a year. For example, for week one of the challenge, you\u2019d deposit $1 in savings, for week two, you\u2019d deposit $2, and so on. By the end of one year, you\u2019ll have racked up a healthy $1,378!<\/p>\n\n\n\n
Reverse<\/strong><\/h3>\n\n\n\nThe Reverse 52-Week Money Saving Challenge is exactly what it sounds like. Instead of starting with a $1 deposit, you start with $52 in your first week and work backwards. If you like the idea of progressing to less and less savings obligations as the year goes on, this could be the challenge for you! And you\u2019ll save exactly what you would with the \u201cClassic:\u201d $1,378.<\/p>\n\n\n\n
Double<\/strong><\/h3>\n\n\n\nIf you have more disposable income or just want to give yourself more of a challenge, you might try doubling the amount you deposit each week. So week one would have you depositing $2, week two would be $4, etc. All in all, with this challenge you\u2019ll save $2,756 by the end of the year.<\/p>\n\n\n\n
Mini<\/strong><\/h3>\n\n\n\nMaybe the \u201cClassic\u201d requires too much money for what you\u2019re reliably able to save up. That\u2019s OK! Take on the Mini 52-Week Challenge. Just halve the amounts you\u2019d save for the Classic version \u2014 so $0.50, then $1, then $1.50, and so on. You\u2019ll still save a nice $689 by the end of the year. Nothing to sneeze at!<\/p>\n\n\n\n
Randomized<\/strong><\/h3>\n\n\n\nIf you like the idea of throwing the dice, put 52 slips of paper in a hat with amounts ranging from 1 to 52, and select at random how much you\u2019ll deposit that week!<\/p>\n\n\n\n
Flexible<\/strong><\/h3>\n\n\n\nMaybe your weekly income isn\u2019t always consistent. If that\u2019s the case, try the flexible version of this challenge. Create a chart with amounts from 1 to 52, and simply deposit an amount that\u2019s realistic each week, crossing them off as you go. You\u2019ll save just as much as with the \u201cClassic,\u201d but you\u2019ll be giving yourself some room to compensate for slower weeks.<\/p>\n\n\n\n
$20<\/strong><\/h3>\n\n\n\nThis challenge makes things real simple. If you don\u2019t feel like keeping track of those incremental amounts, simply deposit $20 (or a set amount of your choosing) weekly. If you opt for the $20 amount, you\u2019ll end up with a cool $1,040 by the end of one year.<\/p>\n\n\n\n
365-Day Money Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nThese challenges are a twist on the 52-week ones, but have you saving daily instead of weekly. If you\u2019re good at following a routine, these challenges could be a good fit for you.<\/p>\n\n\n\n
Penny<\/strong><\/h3>\n\n\n\nThis is a pretty low-commitment challenge! You only have to deposit a single penny on day one, then incrementally increase your savings amount by a single cent each day (until you reach the final deposit amount of $3.65). It doesn\u2019t seem like a whole lot but if you stick to your schedule, you\u2019ll have saved a total of $667.95 by the end of one year.<\/p>\n\n\n\n
Nickel<\/strong><\/h3>\n\n\n\nIf you\u2019re interested in saving a bit more, take on the nickel version of this challenge. Day one you\u2019ll save a single nickel, then $0.10, $0.15, up to $18.40 by the time you reach day 365. With the 365-Day Nickel Challenge, you\u2019ll have saved a whopping $3,339.75 by year\u2019s end.<\/p>\n\n\n\n
Paycheck and Salary-based Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nBasing your savings challenge on how much you\u2019re taking in each year \u2014 or simply following the same schedule as your paycheck \u2014 can sometimes help make things easier.<\/p>\n\n\n\n
26-Week Bi-Weekly <\/strong><\/h3>\n\n\n\nWith this challenge, you\u2019re following a similar pattern to the 52-Week Challenge, but instead you\u2019re setting your deposits on a bi-weekly schedule. Save a total of $1,053 by depositing in increasing increments of $3 ($3, $6, $9 \u2026 $26) or save $1,404 with increments of $4 ($4, $8, $12 \u2026 $104). Any increment you use will work!<\/p>\n\n\n\n
Twice Per Month<\/strong><\/h3>\n\n\n\nMaybe you actually get paid twice a month (50 paychecks a year). In this case, use this handy chart<\/a> to follow a similar increasing deposit pattern as one version of the 26-Week Bi-Weekly challenge that leaves you with $1,378 at the end of the year.<\/p>\n\n\n\nTrim 1% of Your Salary<\/strong><\/h3>\n\n\n\nWhile the name of this challenge might sound like a drag, in reality, you\u2019re actually giving yourself a 1% salary bonus! This challenge involves calculating 1% of your salary, looking at your budget, and then finding ways to save that amount by the end of the year.<\/p>\n\n\n\n
Let\u2019s say your salary is $45,000. 1% of that is $450, so you might limit your streaming subscriptions, start buying generic brands, find a cheaper mobile or internet plan \u2014 anything that would add up to that $450.<\/p>\n\n\n\n
Incidental Money Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nSome people enjoy a less structured, and more whimsical approach to things. If that\u2019s the case for you, one of these chance-driven money saving challenges might be just what the doctor ordered.<\/p>\n\n\n\n
$1 Bill<\/strong><\/h3>\n\n\n\nThis is a good one if you\u2019re on a tighter budget. Very simply, if you get a $1 bill in change, it goes towards savings! You can do this for any set amount of time \u2014 maybe you just try it for a couple of months. Or if you want a bigger stack of cash in the end, do it for a whole year. Just make sure you actually pay with cash frequently enough for this challenge to be worth it.\u00a0<\/p>\n\n\n\n
$5 Bill<\/strong><\/h3>\n\n\n\nYou guessed it! This is a variation on the $1 bill challenge using $5 bills instead.\u00a0<\/p>\n\n\n\n
Money Mistake<\/strong><\/h3>\n\n\n\nThe Money Mistake Challenge essentially acts as a failsafe for financial missteps. For the span of one year, if you do something silly like paying a bill late (inciting an extra fee) or making an impulse buy, you have to put the same amount you spent on the mistake into savings (or $5 if matching the expense is too much). This is a win-win! If you made some \u201cmistakes\u201d here and there, you\u2019ll have a nice sum on the side and an awareness of something you might want to address in the future. And if you didn\u2019t save anything, that means you were financially savvy!<\/p>\n\n\n\n
Tax Your Vices<\/strong><\/h3>\n\n\n\nThis one also does double-duty \u2014 incentivizes kicking bad habits and adds to your savings when and if you do indulge. Your \u201cvice\u201d could be anything you define as an unhealthy or unsavory habit. This could mean putting a dollar in a swear jar every time you let an expletive slip, or allocating a dollar to savings every time you buy an expensive coffee.<\/p>\n\n\n\n
Randomized Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nThese money saving challenges are similar to the \u201cincidental\u201d ones in the sense that they don\u2019t set a specific savings goal and they rely on some level of chance. However, with this group, it depends not on your behavior, but on true serendipity.<\/p>\n\n\n\n
Weather Wednesdays<\/strong><\/h3>\n\n\n\nA clever blogger<\/a> came up with this fortuitous challenge. For any given period, every Wednesday, you\u2019ll deposit an amount that matches the high temperature that day. If you live in a warm climate year-round, you could save upwards of $3,000 in a year! If you want to make this a short term challenge, pick a season appropriate for your means (winter for less income at your disposal, summer for more).<\/p>\n\n\n\nRoll the Dice<\/strong><\/h3>\n\n\n\nThe basic version of this money saving challenge is that you roll a die each day and tuck away the amount on the die in dollars. Probabilities being what they are, this challenge will help you save well over $1,000 in a year. Feel free to create variations where you roll two dice for more savings, or only roll once a week for a lower commitment. If you like the idea of an actual gameboard, pay $3 to download the colorful Stackopoly<\/a> game, another version of this fun challenge.\u00a0<\/p>\n\n\n\n100 Envelope Challenge<\/strong><\/h3>\n\n\n\nThis is a challenge for folks with a little more cash flow. You\u2019ll number a hundred envelopes from 1 to 100, mix them up, and pick one at random each day. Whatever number you get, you must either insert that amount of cash, or deposit that amount in savings. Just make sure if you are<\/em> using cash, to deposit it at least every month so that it\u2019s safe in the bank and accruing interest. In just over three months, you\u2019ll have saved an impressive $5,050. If every day is a tad much for you, you can also make this a twice weekly challenge. You\u2019ll have saved this amount just before a full year completes!\u00a0<\/p>\n\n\n\nShorter-term Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nMany of the money saving challenges we\u2019ve listed are designed to be completed over the span of a year. But there\u2019s nothing that says you can\u2019t adjust each challenge to be shorter-term! Alternatively, you can pick one of the challenges below that\u2019s designed to be finished in less time.<\/p>\n\n\n\n
6-Month<\/strong><\/h3>\n\n\n\nThis challenge will have you saving $1,378 in half a year! In your first week, save $3, then go up by increments of $4. Your last deposit will be $103. Or if you like, start with $103, and decrease the amount each week!<\/p>\n\n\n\n
3-Month<\/strong><\/h3>\n\n\n\nThis low-commitment challenge simply requires an $84 deposit each week. Seems easy, but you\u2019ll be up $1,000 by the time the three months are up.<\/p>\n\n\n\n
12-Week<\/strong><\/h3>\n\n\n\nThis challenge is similar to the previous 3-Month one, but keeps things dynamic with an increasing deposit amount. Start with $10, and increase by another $10 each week. Your final deposit will end at $120, and you\u2019ll have saved $780 by the end.<\/p>\n\n\n\n
Pantry<\/strong><\/h3>\n\n\n\nYou likely already have untapped value right in your kitchen! Challenge yourself to \u201cclean out\u201d your pantry, fridge, and freezer by consuming everything in there before eating out or doing another major grocery shop. You might allow yourself to buy a couple things like fresh produce and protein to round out the meals, but it\u2019s possible you already have those things frozen.\u00a0<\/p>\n\n\n\n
33.3<\/strong> <\/h3>\n\n\n\nGeared towards folks with a bit more disposable income, the 33.3 Challenge lasts only a month and offers a hefty $999.90 as its final savings tally. Just deposit $33.33 every day. That\u2019s it. And if you decide to do a month with 31 days, you\u2019ll sail past the thousand dollar line to reach $1,032.30.<\/p>\n\n\n\n
30-Day Meal Plan<\/strong><\/h3>\n\n\n\nFor 30 days, build your diet around meals that you or your significant other prepare yourselves. Not only will you save by not eating out (an expensive habit), your grocery bill will go down because to some degree, you\u2019re buying in bulk (i.e. a whole chicken for multiple meals), and potentially freezing a lot of expirable ingredients. Try these ideas<\/a> for more grocery savings.<\/p>\n\n\n\nCash Only For a Month<\/strong><\/h3>\n\n\n\nThis one’s just what it sounds like \u2014 you\u2019ll only use cash for a month. Psychologically, using cash to pay for things makes you a lot more aware of how much you\u2019re spending. Paying with a card does the opposite by allowing you to hand the piece of plastic over and hardly look at the actual charge. Try this challenge to not only save, but give yourself some good financial awareness.<\/p>\n\n\n\n
31 Days to Improve Your Financial Life<\/strong><\/h3>\n\n\n\nIf you\u2019re game for a real month-long project that\u2019ll turn your financial life around for the better, take on this little diddy. Specially designed by personal finance blogger Phillip Taylor, the 31 Days to Improve Your Finance Life Challenge<\/a> will have you doing daily activities like adjusting your 401(k), figuring out what assets you have, and reducing your interest rates. This one is a real game changer.<\/p>\n\n\n\nLight-lifting Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nDon\u2019t have much time on your hands? Try one of these money saving challenges for which you\u2019ll hardly have to lift a finger.<\/p>\n\n\n\n
Round Up<\/strong><\/h3>\n\n\n\nMany banks have a new option that allows you to round up to the nearest dollar on your purchases, with the \u201cremainder\u201d amount going straight into savings. For example, if you purchased a coffee for $3.12, your credit card would be charged $4 \u2014 $3.12 for the coffee and $0.88 towards savings. If your bank doesn\u2019t offer this, apps like Acorns<\/a> will take care of it for you!<\/p>\n\n\n\nDollar<\/strong><\/h3>\n\n\n\nThe Dollar Challenge only requires you to save one single solitary dollar each day. Deposit it, or put it in a hidden jar \u2014 wherever you feel the money is safest. This\u2019ll net you $365 by the end of the year \u2014 not a huge windfall, but you\u2019ll have built a great savings habit. And hey, $365 is not nothing after all!<\/p>\n\n\n\n
1%<\/strong><\/h3>\n\n\n\nSimple. Up your 401(k) contribution by 1%. In two months, raise it again by another 1%. If you want to save for the more immediate future, just replicate this outside of a 401(k): set up an automatic transfer of 1% of your gross income into a special savings account each time you get paid.<\/p>\n\n\n\n
Paring Back Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you feel like there are places you could afford to cut back on spending but you don\u2019t know where to start, take a whack at one of these babies.<\/p>\n\n\n\n
Kick a Bad Habit<\/strong><\/h3>\n\n\n\nHave a \u201cbad\u201d habit you wish you could leave behind? Smoking, drinking soda, buying expensive coffee, or the like? Well maybe instead of saying you\u2019ll never have a single expensive coffee ever again, challenge yourself to set these purchases aside for just a month. It\u2019ll feel a heck of a lot more achievable, and you\u2019ll be saving whatever you would have spent on the expense. And who knows! By the time you hit the end of the month, you may not feel the need for that thing anymore.<\/p>\n\n\n\n
Expense Tracking<\/strong><\/h3>\n\n\n\nMore than a concrete savings goal, this challenge targets an awareness of where all your expenses are going. You\u2019ll pick a period (1-3 months) during which you\u2019ll track all your expenses and categorize them. You can use paper and pen or an app like Mint<\/a>. Essentially, you\u2019re looking for places where you might be able to cut down on superficial or extraneous purchases.\u00a0<\/p>\n\n\n\nNo Spend<\/strong><\/h3>\n\n\n\nIt\u2019s really up to you how long you take this challenge on for. It can be one day, one day each week, or a whole month. The idea here is to cut out discretionary spending for the period you land on. You may still have to pay for transit and other basic needs, but when it comes to extra snacks, clothes, or anything else that isn\u2019t totally necessary, you\u2019ll let those things go. If you like, you can make a note of each point where you neglect to make a purchase you wouldn\u2019t have otherwise, and put that money directly into savings. As an extra bonus, you may even end up enjoying the creative problem-solving you\u2019ll have to do during these times!<\/p>\n\n\n\n
No Eating Out<\/strong><\/h3>\n\n\n\nAccording to the Bureau of Labor Statistics, the average American household spends $2,375 eating out in a single year<\/a>. If you or your family are the types to forego a home-cooked meal for takeout, delivery, or a dine-in experience, you could really save a lot of money by taking on the No Eating Out Challenge. Very simply, give up restaurant and takeout food for 30 days. You\u2019ll be gobsmacked at the amount you save just by preparing your own food.<\/p>\n\n\n\nCancellation<\/strong><\/h3>\n\n\n\nHow many subscriptions do you currently have? If you\u2019re not sure, it may be time to take on the Cancellation Challenge. It\u2019s all about itemizing your subscriptions (streaming services, monthly app charges, etc.), and cancelling as many as you can. <\/p>\n\n\n\n
\n<\/div>\n\n\n\n\n<\/figure><\/div>\n<\/div>\n\n\n\n\nPRO TIP:<\/strong>
If you\u2019re a streaming junky, try just subscribing to one content subscription at a time. Once you\u2019ve blazed through the Hulu shows that appeal to you, cancel that and join Netflix!<\/p>\n<\/div>\n<\/div>\n\n\n\nCoffee Break<\/strong><\/h3>\n\n\n\nDo you buy a coffee every day from Starbucks or another pricey coffee shop? Business Insider calculated that someone who buys a single $5 coffee daily spends $1,200 a year, while brewing at home would cost $45 in that same year<\/a>. Even if you challenge yourself to make your own coffee for only one month, you\u2019d be saving a sweet hundo and still getting that caffeine hit you so desperately need. You may want to deposit the amount you\u2019d be saving on your speciality coffee straight into your savings! So if your favorite latte is $2.75, each time you make your own cup of joe, set that amount aside for the future.<\/p>\n\n\n\nNo Soda or Alcohol<\/strong><\/h3>\n\n\n\nMaybe coffee isn\u2019t your bag, but you order a beer every day after work. Or maybe neither of those things strike your fancy, but you always get a big old Coke for lunch. Challenge yourself to cut that particular beverage out of the budget for just one month. These things add up, and you may be surprised at how much you actually save. To keep motivated, download or draw out a chart like this one<\/a>.<\/p>\n\n\n\nNo New Clothes<\/strong><\/h3>\n\n\n\nThis challenge may be tough for folks who enjoy retail therapy, but it\u2019s actually designed for exactly this type of person. Most of us have more than enough clothes to keep us warm throughout the year, but we may feel inclined to spice up the wardrobe more than is really necessary. If this sounds like you, challenge yourself not to buy new garb for one whole year. You may want to check out how much you spent on your attire the previous year, divide by 12, and put that amount into savings each month.<\/p>\n\n\n\n
Switch Services<\/strong><\/h3>\n\n\n\nTalking to customer service reps is rarely fun, but this challenge could help you save for an indefinite period by doing a simple one-time chore. Call your mobile, electric, gas, internet, and cable providers to see if they can offer you a customer discount. Especially if you\u2019re a loyal, long-time customer, they may be able to shave some cost off your monthly bill. If they say no, call around to see if another provider can offer you those savings. <\/p>\n\n\n\n
Save Money at a Different Grocery Store<\/strong><\/h3>\n\n\n\nIf you find that your grocery bill seems inordinately large, try shopping at a discount grocery store<\/a>. Replicate your last shopping trip\u2019s receipt at this new store (making sure you\u2019re getting the same amount of each item), and compare prices. You may decide this is a change you want to make permanent.<\/p>\n\n\n\nHobby Swap<\/strong><\/h3>\n\n\n\nDo you have a pricey hobby? Golfing, rock climbing \u2014 even woodworking can get expensive. If you\u2019ve found yourself spending a pretty penny on your pastime, challenge yourself to pick up a less expensive \u2014 or even free \u2014 hobby for a month, setting aside your costly one. Things like hiking, journaling, drawing, and volunteering at an animal shelter can be incredibly fulfilling, but will keep your wallet from leaving your pocket too often (or at all).<\/p>\n\n\n\n
No Car<\/strong><\/h3>\n\n\n\nGas \u2014 especially when the political and economic climates turn against us \u2014 can be incredibly pricey. The No Car Challenge dares you to get around for at least one month with car alternatives: bike, train, bus, or even carpooling. If you do have to use your car, plan out your trips so that you get all your chores done in one fell swoop so that you\u2019re still using it minimally. This challenge is best for people who live in areas with good public transportation infrastructure.<\/p>\n\n\n\n
Extra Fun Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you feel like you need a tiny bit more motivation, try one of these challenges that’ll add a little extra oomph.<\/p>\n\n\n\n
Money Throwdown<\/strong><\/h3>\n\n\n\nSome people thrive on competition. If that\u2019s you, challenge a friend or family member to the Money Throwdown Challenge. You can decide on the rules together, but you might try to be the one to save $1,000 the fastest or alternatively, save the most in some set amount of time.<\/p>\n\n\n\n
Bowl Grab<\/strong><\/h3>\n\n\n\nThis is a fun one to do with your significant other, or potentially the whole family! Write out different cash denominations on slips of paper (i.e. $1, $5, $10, $20), and put 30 of them in a bowl. Take turns picking out a slip each day, and whatever dollar amount you get, you have to put that amount in savings. By the end, you\u2019ll have collectively saved around $282 in one month (if you put in roughly equal amounts of each denomination on the slips).<\/p>\n\n\n\n
Savings Fever<\/strong><\/h3>\n\n\n\nIf you\u2019re the creative type, you might enjoy creating a DIY Savings Fever chart. Draw a large thermometer on a posterboard, adding your savings goal on top and inserting smaller savings goals in intervals along the thermometer. As you save, fill in the thermometer with marker colors that go from cool, to warm, to hot, hot, hot!<\/p>\n\n\n\n
Monthly Money Challenge<\/strong><\/h3>\n\n\n\nFeeling ambitious? Try the Monthly Money Challenge! This one involves picking twelve \u2014 yes, twelve! \u2014 money saving challenges, and completing one per month. If you\u2019re worried you\u2019ll get bored by one full-year challenge, this puppy will help you avoid the drudgery with an ever-changing savings dynamic. You should have plenty to pick from on this very list!<\/p>\n\n\n\n
Vacation Saving Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you\u2019re specifically looking to save for a spectacular trip, try one of these money saving challenges!<\/p>\n\n\n\n
Straightforward<\/strong> <\/h3>\n\n\n\nOne year before your vacation, plan out how much you\u2019ll be spending on the entire trip. Divide by 12, and make sure you\u2019re setting aside that amount each month for your great adventure.<\/p>\n\n\n\n
8-Week<\/strong><\/h3>\n\n\n\n
<\/figure>\n\n\n\nThis tried-and-true challenge and its offshoots are sure to help you find your way to that year-end nest egg you\u2019re looking to grow.<\/p>\n\n\n\n
Classic<\/strong><\/h3>\n\n\n\nThe Classic 52-Week Money Saving Challenge involves putting in a corresponding dollar amount for each of the 52 weeks in a year. For example, for week one of the challenge, you\u2019d deposit $1 in savings, for week two, you\u2019d deposit $2, and so on. By the end of one year, you\u2019ll have racked up a healthy $1,378!<\/p>\n\n\n\n
Reverse<\/strong><\/h3>\n\n\n\nThe Reverse 52-Week Money Saving Challenge is exactly what it sounds like. Instead of starting with a $1 deposit, you start with $52 in your first week and work backwards. If you like the idea of progressing to less and less savings obligations as the year goes on, this could be the challenge for you! And you\u2019ll save exactly what you would with the \u201cClassic:\u201d $1,378.<\/p>\n\n\n\n
Double<\/strong><\/h3>\n\n\n\nIf you have more disposable income or just want to give yourself more of a challenge, you might try doubling the amount you deposit each week. So week one would have you depositing $2, week two would be $4, etc. All in all, with this challenge you\u2019ll save $2,756 by the end of the year.<\/p>\n\n\n\n
Mini<\/strong><\/h3>\n\n\n\nMaybe the \u201cClassic\u201d requires too much money for what you\u2019re reliably able to save up. That\u2019s OK! Take on the Mini 52-Week Challenge. Just halve the amounts you\u2019d save for the Classic version \u2014 so $0.50, then $1, then $1.50, and so on. You\u2019ll still save a nice $689 by the end of the year. Nothing to sneeze at!<\/p>\n\n\n\n
Randomized<\/strong><\/h3>\n\n\n\nIf you like the idea of throwing the dice, put 52 slips of paper in a hat with amounts ranging from 1 to 52, and select at random how much you\u2019ll deposit that week!<\/p>\n\n\n\n
Flexible<\/strong><\/h3>\n\n\n\nMaybe your weekly income isn\u2019t always consistent. If that\u2019s the case, try the flexible version of this challenge. Create a chart with amounts from 1 to 52, and simply deposit an amount that\u2019s realistic each week, crossing them off as you go. You\u2019ll save just as much as with the \u201cClassic,\u201d but you\u2019ll be giving yourself some room to compensate for slower weeks.<\/p>\n\n\n\n
$20<\/strong><\/h3>\n\n\n\nThis challenge makes things real simple. If you don\u2019t feel like keeping track of those incremental amounts, simply deposit $20 (or a set amount of your choosing) weekly. If you opt for the $20 amount, you\u2019ll end up with a cool $1,040 by the end of one year.<\/p>\n\n\n\n
365-Day Money Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nThese challenges are a twist on the 52-week ones, but have you saving daily instead of weekly. If you\u2019re good at following a routine, these challenges could be a good fit for you.<\/p>\n\n\n\n
Penny<\/strong><\/h3>\n\n\n\nThis is a pretty low-commitment challenge! You only have to deposit a single penny on day one, then incrementally increase your savings amount by a single cent each day (until you reach the final deposit amount of $3.65). It doesn\u2019t seem like a whole lot but if you stick to your schedule, you\u2019ll have saved a total of $667.95 by the end of one year.<\/p>\n\n\n\n
Nickel<\/strong><\/h3>\n\n\n\nIf you\u2019re interested in saving a bit more, take on the nickel version of this challenge. Day one you\u2019ll save a single nickel, then $0.10, $0.15, up to $18.40 by the time you reach day 365. With the 365-Day Nickel Challenge, you\u2019ll have saved a whopping $3,339.75 by year\u2019s end.<\/p>\n\n\n\n
Paycheck and Salary-based Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nBasing your savings challenge on how much you\u2019re taking in each year \u2014 or simply following the same schedule as your paycheck \u2014 can sometimes help make things easier.<\/p>\n\n\n\n
26-Week Bi-Weekly <\/strong><\/h3>\n\n\n\nWith this challenge, you\u2019re following a similar pattern to the 52-Week Challenge, but instead you\u2019re setting your deposits on a bi-weekly schedule. Save a total of $1,053 by depositing in increasing increments of $3 ($3, $6, $9 \u2026 $26) or save $1,404 with increments of $4 ($4, $8, $12 \u2026 $104). Any increment you use will work!<\/p>\n\n\n\n
Twice Per Month<\/strong><\/h3>\n\n\n\nMaybe you actually get paid twice a month (50 paychecks a year). In this case, use this handy chart<\/a> to follow a similar increasing deposit pattern as one version of the 26-Week Bi-Weekly challenge that leaves you with $1,378 at the end of the year.<\/p>\n\n\n\nTrim 1% of Your Salary<\/strong><\/h3>\n\n\n\nWhile the name of this challenge might sound like a drag, in reality, you\u2019re actually giving yourself a 1% salary bonus! This challenge involves calculating 1% of your salary, looking at your budget, and then finding ways to save that amount by the end of the year.<\/p>\n\n\n\n
Let\u2019s say your salary is $45,000. 1% of that is $450, so you might limit your streaming subscriptions, start buying generic brands, find a cheaper mobile or internet plan \u2014 anything that would add up to that $450.<\/p>\n\n\n\n
Incidental Money Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nSome people enjoy a less structured, and more whimsical approach to things. If that\u2019s the case for you, one of these chance-driven money saving challenges might be just what the doctor ordered.<\/p>\n\n\n\n
$1 Bill<\/strong><\/h3>\n\n\n\nThis is a good one if you\u2019re on a tighter budget. Very simply, if you get a $1 bill in change, it goes towards savings! You can do this for any set amount of time \u2014 maybe you just try it for a couple of months. Or if you want a bigger stack of cash in the end, do it for a whole year. Just make sure you actually pay with cash frequently enough for this challenge to be worth it.\u00a0<\/p>\n\n\n\n
$5 Bill<\/strong><\/h3>\n\n\n\nYou guessed it! This is a variation on the $1 bill challenge using $5 bills instead.\u00a0<\/p>\n\n\n\n
Money Mistake<\/strong><\/h3>\n\n\n\nThe Money Mistake Challenge essentially acts as a failsafe for financial missteps. For the span of one year, if you do something silly like paying a bill late (inciting an extra fee) or making an impulse buy, you have to put the same amount you spent on the mistake into savings (or $5 if matching the expense is too much). This is a win-win! If you made some \u201cmistakes\u201d here and there, you\u2019ll have a nice sum on the side and an awareness of something you might want to address in the future. And if you didn\u2019t save anything, that means you were financially savvy!<\/p>\n\n\n\n
Tax Your Vices<\/strong><\/h3>\n\n\n\nThis one also does double-duty \u2014 incentivizes kicking bad habits and adds to your savings when and if you do indulge. Your \u201cvice\u201d could be anything you define as an unhealthy or unsavory habit. This could mean putting a dollar in a swear jar every time you let an expletive slip, or allocating a dollar to savings every time you buy an expensive coffee.<\/p>\n\n\n\n
Randomized Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nThese money saving challenges are similar to the \u201cincidental\u201d ones in the sense that they don\u2019t set a specific savings goal and they rely on some level of chance. However, with this group, it depends not on your behavior, but on true serendipity.<\/p>\n\n\n\n
Weather Wednesdays<\/strong><\/h3>\n\n\n\nA clever blogger<\/a> came up with this fortuitous challenge. For any given period, every Wednesday, you\u2019ll deposit an amount that matches the high temperature that day. If you live in a warm climate year-round, you could save upwards of $3,000 in a year! If you want to make this a short term challenge, pick a season appropriate for your means (winter for less income at your disposal, summer for more).<\/p>\n\n\n\nRoll the Dice<\/strong><\/h3>\n\n\n\nThe basic version of this money saving challenge is that you roll a die each day and tuck away the amount on the die in dollars. Probabilities being what they are, this challenge will help you save well over $1,000 in a year. Feel free to create variations where you roll two dice for more savings, or only roll once a week for a lower commitment. If you like the idea of an actual gameboard, pay $3 to download the colorful Stackopoly<\/a> game, another version of this fun challenge.\u00a0<\/p>\n\n\n\n100 Envelope Challenge<\/strong><\/h3>\n\n\n\nThis is a challenge for folks with a little more cash flow. You\u2019ll number a hundred envelopes from 1 to 100, mix them up, and pick one at random each day. Whatever number you get, you must either insert that amount of cash, or deposit that amount in savings. Just make sure if you are<\/em> using cash, to deposit it at least every month so that it\u2019s safe in the bank and accruing interest. In just over three months, you\u2019ll have saved an impressive $5,050. If every day is a tad much for you, you can also make this a twice weekly challenge. You\u2019ll have saved this amount just before a full year completes!\u00a0<\/p>\n\n\n\nShorter-term Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nMany of the money saving challenges we\u2019ve listed are designed to be completed over the span of a year. But there\u2019s nothing that says you can\u2019t adjust each challenge to be shorter-term! Alternatively, you can pick one of the challenges below that\u2019s designed to be finished in less time.<\/p>\n\n\n\n
6-Month<\/strong><\/h3>\n\n\n\nThis challenge will have you saving $1,378 in half a year! In your first week, save $3, then go up by increments of $4. Your last deposit will be $103. Or if you like, start with $103, and decrease the amount each week!<\/p>\n\n\n\n
3-Month<\/strong><\/h3>\n\n\n\nThis low-commitment challenge simply requires an $84 deposit each week. Seems easy, but you\u2019ll be up $1,000 by the time the three months are up.<\/p>\n\n\n\n
12-Week<\/strong><\/h3>\n\n\n\nThis challenge is similar to the previous 3-Month one, but keeps things dynamic with an increasing deposit amount. Start with $10, and increase by another $10 each week. Your final deposit will end at $120, and you\u2019ll have saved $780 by the end.<\/p>\n\n\n\n
Pantry<\/strong><\/h3>\n\n\n\nYou likely already have untapped value right in your kitchen! Challenge yourself to \u201cclean out\u201d your pantry, fridge, and freezer by consuming everything in there before eating out or doing another major grocery shop. You might allow yourself to buy a couple things like fresh produce and protein to round out the meals, but it\u2019s possible you already have those things frozen.\u00a0<\/p>\n\n\n\n
33.3<\/strong> <\/h3>\n\n\n\nGeared towards folks with a bit more disposable income, the 33.3 Challenge lasts only a month and offers a hefty $999.90 as its final savings tally. Just deposit $33.33 every day. That\u2019s it. And if you decide to do a month with 31 days, you\u2019ll sail past the thousand dollar line to reach $1,032.30.<\/p>\n\n\n\n
30-Day Meal Plan<\/strong><\/h3>\n\n\n\nFor 30 days, build your diet around meals that you or your significant other prepare yourselves. Not only will you save by not eating out (an expensive habit), your grocery bill will go down because to some degree, you\u2019re buying in bulk (i.e. a whole chicken for multiple meals), and potentially freezing a lot of expirable ingredients. Try these ideas<\/a> for more grocery savings.<\/p>\n\n\n\nCash Only For a Month<\/strong><\/h3>\n\n\n\nThis one’s just what it sounds like \u2014 you\u2019ll only use cash for a month. Psychologically, using cash to pay for things makes you a lot more aware of how much you\u2019re spending. Paying with a card does the opposite by allowing you to hand the piece of plastic over and hardly look at the actual charge. Try this challenge to not only save, but give yourself some good financial awareness.<\/p>\n\n\n\n
31 Days to Improve Your Financial Life<\/strong><\/h3>\n\n\n\nIf you\u2019re game for a real month-long project that\u2019ll turn your financial life around for the better, take on this little diddy. Specially designed by personal finance blogger Phillip Taylor, the 31 Days to Improve Your Finance Life Challenge<\/a> will have you doing daily activities like adjusting your 401(k), figuring out what assets you have, and reducing your interest rates. This one is a real game changer.<\/p>\n\n\n\nLight-lifting Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nDon\u2019t have much time on your hands? Try one of these money saving challenges for which you\u2019ll hardly have to lift a finger.<\/p>\n\n\n\n
Round Up<\/strong><\/h3>\n\n\n\nMany banks have a new option that allows you to round up to the nearest dollar on your purchases, with the \u201cremainder\u201d amount going straight into savings. For example, if you purchased a coffee for $3.12, your credit card would be charged $4 \u2014 $3.12 for the coffee and $0.88 towards savings. If your bank doesn\u2019t offer this, apps like Acorns<\/a> will take care of it for you!<\/p>\n\n\n\nDollar<\/strong><\/h3>\n\n\n\nThe Dollar Challenge only requires you to save one single solitary dollar each day. Deposit it, or put it in a hidden jar \u2014 wherever you feel the money is safest. This\u2019ll net you $365 by the end of the year \u2014 not a huge windfall, but you\u2019ll have built a great savings habit. And hey, $365 is not nothing after all!<\/p>\n\n\n\n
1%<\/strong><\/h3>\n\n\n\nSimple. Up your 401(k) contribution by 1%. In two months, raise it again by another 1%. If you want to save for the more immediate future, just replicate this outside of a 401(k): set up an automatic transfer of 1% of your gross income into a special savings account each time you get paid.<\/p>\n\n\n\n
Paring Back Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you feel like there are places you could afford to cut back on spending but you don\u2019t know where to start, take a whack at one of these babies.<\/p>\n\n\n\n
Kick a Bad Habit<\/strong><\/h3>\n\n\n\nHave a \u201cbad\u201d habit you wish you could leave behind? Smoking, drinking soda, buying expensive coffee, or the like? Well maybe instead of saying you\u2019ll never have a single expensive coffee ever again, challenge yourself to set these purchases aside for just a month. It\u2019ll feel a heck of a lot more achievable, and you\u2019ll be saving whatever you would have spent on the expense. And who knows! By the time you hit the end of the month, you may not feel the need for that thing anymore.<\/p>\n\n\n\n
Expense Tracking<\/strong><\/h3>\n\n\n\nMore than a concrete savings goal, this challenge targets an awareness of where all your expenses are going. You\u2019ll pick a period (1-3 months) during which you\u2019ll track all your expenses and categorize them. You can use paper and pen or an app like Mint<\/a>. Essentially, you\u2019re looking for places where you might be able to cut down on superficial or extraneous purchases.\u00a0<\/p>\n\n\n\nNo Spend<\/strong><\/h3>\n\n\n\nIt\u2019s really up to you how long you take this challenge on for. It can be one day, one day each week, or a whole month. The idea here is to cut out discretionary spending for the period you land on. You may still have to pay for transit and other basic needs, but when it comes to extra snacks, clothes, or anything else that isn\u2019t totally necessary, you\u2019ll let those things go. If you like, you can make a note of each point where you neglect to make a purchase you wouldn\u2019t have otherwise, and put that money directly into savings. As an extra bonus, you may even end up enjoying the creative problem-solving you\u2019ll have to do during these times!<\/p>\n\n\n\n
No Eating Out<\/strong><\/h3>\n\n\n\nAccording to the Bureau of Labor Statistics, the average American household spends $2,375 eating out in a single year<\/a>. If you or your family are the types to forego a home-cooked meal for takeout, delivery, or a dine-in experience, you could really save a lot of money by taking on the No Eating Out Challenge. Very simply, give up restaurant and takeout food for 30 days. You\u2019ll be gobsmacked at the amount you save just by preparing your own food.<\/p>\n\n\n\nCancellation<\/strong><\/h3>\n\n\n\nHow many subscriptions do you currently have? If you\u2019re not sure, it may be time to take on the Cancellation Challenge. It\u2019s all about itemizing your subscriptions (streaming services, monthly app charges, etc.), and cancelling as many as you can. <\/p>\n\n\n\n
\n<\/div>\n\n\n\n\n<\/figure><\/div>\n<\/div>\n\n\n\n\nPRO TIP:<\/strong>
If you\u2019re a streaming junky, try just subscribing to one content subscription at a time. Once you\u2019ve blazed through the Hulu shows that appeal to you, cancel that and join Netflix!<\/p>\n<\/div>\n<\/div>\n\n\n\nCoffee Break<\/strong><\/h3>\n\n\n\nDo you buy a coffee every day from Starbucks or another pricey coffee shop? Business Insider calculated that someone who buys a single $5 coffee daily spends $1,200 a year, while brewing at home would cost $45 in that same year<\/a>. Even if you challenge yourself to make your own coffee for only one month, you\u2019d be saving a sweet hundo and still getting that caffeine hit you so desperately need. You may want to deposit the amount you\u2019d be saving on your speciality coffee straight into your savings! So if your favorite latte is $2.75, each time you make your own cup of joe, set that amount aside for the future.<\/p>\n\n\n\nNo Soda or Alcohol<\/strong><\/h3>\n\n\n\nMaybe coffee isn\u2019t your bag, but you order a beer every day after work. Or maybe neither of those things strike your fancy, but you always get a big old Coke for lunch. Challenge yourself to cut that particular beverage out of the budget for just one month. These things add up, and you may be surprised at how much you actually save. To keep motivated, download or draw out a chart like this one<\/a>.<\/p>\n\n\n\nNo New Clothes<\/strong><\/h3>\n\n\n\nThis challenge may be tough for folks who enjoy retail therapy, but it\u2019s actually designed for exactly this type of person. Most of us have more than enough clothes to keep us warm throughout the year, but we may feel inclined to spice up the wardrobe more than is really necessary. If this sounds like you, challenge yourself not to buy new garb for one whole year. You may want to check out how much you spent on your attire the previous year, divide by 12, and put that amount into savings each month.<\/p>\n\n\n\n
Switch Services<\/strong><\/h3>\n\n\n\nTalking to customer service reps is rarely fun, but this challenge could help you save for an indefinite period by doing a simple one-time chore. Call your mobile, electric, gas, internet, and cable providers to see if they can offer you a customer discount. Especially if you\u2019re a loyal, long-time customer, they may be able to shave some cost off your monthly bill. If they say no, call around to see if another provider can offer you those savings. <\/p>\n\n\n\n
Save Money at a Different Grocery Store<\/strong><\/h3>\n\n\n\nIf you find that your grocery bill seems inordinately large, try shopping at a discount grocery store<\/a>. Replicate your last shopping trip\u2019s receipt at this new store (making sure you\u2019re getting the same amount of each item), and compare prices. You may decide this is a change you want to make permanent.<\/p>\n\n\n\nHobby Swap<\/strong><\/h3>\n\n\n\nDo you have a pricey hobby? Golfing, rock climbing \u2014 even woodworking can get expensive. If you\u2019ve found yourself spending a pretty penny on your pastime, challenge yourself to pick up a less expensive \u2014 or even free \u2014 hobby for a month, setting aside your costly one. Things like hiking, journaling, drawing, and volunteering at an animal shelter can be incredibly fulfilling, but will keep your wallet from leaving your pocket too often (or at all).<\/p>\n\n\n\n
No Car<\/strong><\/h3>\n\n\n\nGas \u2014 especially when the political and economic climates turn against us \u2014 can be incredibly pricey. The No Car Challenge dares you to get around for at least one month with car alternatives: bike, train, bus, or even carpooling. If you do have to use your car, plan out your trips so that you get all your chores done in one fell swoop so that you\u2019re still using it minimally. This challenge is best for people who live in areas with good public transportation infrastructure.<\/p>\n\n\n\n
Extra Fun Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you feel like you need a tiny bit more motivation, try one of these challenges that’ll add a little extra oomph.<\/p>\n\n\n\n
Money Throwdown<\/strong><\/h3>\n\n\n\nSome people thrive on competition. If that\u2019s you, challenge a friend or family member to the Money Throwdown Challenge. You can decide on the rules together, but you might try to be the one to save $1,000 the fastest or alternatively, save the most in some set amount of time.<\/p>\n\n\n\n
Bowl Grab<\/strong><\/h3>\n\n\n\nThis is a fun one to do with your significant other, or potentially the whole family! Write out different cash denominations on slips of paper (i.e. $1, $5, $10, $20), and put 30 of them in a bowl. Take turns picking out a slip each day, and whatever dollar amount you get, you have to put that amount in savings. By the end, you\u2019ll have collectively saved around $282 in one month (if you put in roughly equal amounts of each denomination on the slips).<\/p>\n\n\n\n
Savings Fever<\/strong><\/h3>\n\n\n\nIf you\u2019re the creative type, you might enjoy creating a DIY Savings Fever chart. Draw a large thermometer on a posterboard, adding your savings goal on top and inserting smaller savings goals in intervals along the thermometer. As you save, fill in the thermometer with marker colors that go from cool, to warm, to hot, hot, hot!<\/p>\n\n\n\n
Monthly Money Challenge<\/strong><\/h3>\n\n\n\nFeeling ambitious? Try the Monthly Money Challenge! This one involves picking twelve \u2014 yes, twelve! \u2014 money saving challenges, and completing one per month. If you\u2019re worried you\u2019ll get bored by one full-year challenge, this puppy will help you avoid the drudgery with an ever-changing savings dynamic. You should have plenty to pick from on this very list!<\/p>\n\n\n\n
Vacation Saving Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you\u2019re specifically looking to save for a spectacular trip, try one of these money saving challenges!<\/p>\n\n\n\n
Straightforward<\/strong> <\/h3>\n\n\n\nOne year before your vacation, plan out how much you\u2019ll be spending on the entire trip. Divide by 12, and make sure you\u2019re setting aside that amount each month for your great adventure.<\/p>\n\n\n\n
8-Week<\/strong><\/h3>\n\n\n\n
The Reverse 52-Week Money Saving Challenge is exactly what it sounds like. Instead of starting with a $1 deposit, you start with $52 in your first week and work backwards. If you like the idea of progressing to less and less savings obligations as the year goes on, this could be the challenge for you! And you\u2019ll save exactly what you would with the \u201cClassic:\u201d $1,378.<\/p>\n\n\n\n
Double<\/strong><\/h3>\n\n\n\nIf you have more disposable income or just want to give yourself more of a challenge, you might try doubling the amount you deposit each week. So week one would have you depositing $2, week two would be $4, etc. All in all, with this challenge you\u2019ll save $2,756 by the end of the year.<\/p>\n\n\n\n
Mini<\/strong><\/h3>\n\n\n\nMaybe the \u201cClassic\u201d requires too much money for what you\u2019re reliably able to save up. That\u2019s OK! Take on the Mini 52-Week Challenge. Just halve the amounts you\u2019d save for the Classic version \u2014 so $0.50, then $1, then $1.50, and so on. You\u2019ll still save a nice $689 by the end of the year. Nothing to sneeze at!<\/p>\n\n\n\n
Randomized<\/strong><\/h3>\n\n\n\nIf you like the idea of throwing the dice, put 52 slips of paper in a hat with amounts ranging from 1 to 52, and select at random how much you\u2019ll deposit that week!<\/p>\n\n\n\n
Flexible<\/strong><\/h3>\n\n\n\nMaybe your weekly income isn\u2019t always consistent. If that\u2019s the case, try the flexible version of this challenge. Create a chart with amounts from 1 to 52, and simply deposit an amount that\u2019s realistic each week, crossing them off as you go. You\u2019ll save just as much as with the \u201cClassic,\u201d but you\u2019ll be giving yourself some room to compensate for slower weeks.<\/p>\n\n\n\n
$20<\/strong><\/h3>\n\n\n\nThis challenge makes things real simple. If you don\u2019t feel like keeping track of those incremental amounts, simply deposit $20 (or a set amount of your choosing) weekly. If you opt for the $20 amount, you\u2019ll end up with a cool $1,040 by the end of one year.<\/p>\n\n\n\n
365-Day Money Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nThese challenges are a twist on the 52-week ones, but have you saving daily instead of weekly. If you\u2019re good at following a routine, these challenges could be a good fit for you.<\/p>\n\n\n\n
Penny<\/strong><\/h3>\n\n\n\nThis is a pretty low-commitment challenge! You only have to deposit a single penny on day one, then incrementally increase your savings amount by a single cent each day (until you reach the final deposit amount of $3.65). It doesn\u2019t seem like a whole lot but if you stick to your schedule, you\u2019ll have saved a total of $667.95 by the end of one year.<\/p>\n\n\n\n
Nickel<\/strong><\/h3>\n\n\n\nIf you\u2019re interested in saving a bit more, take on the nickel version of this challenge. Day one you\u2019ll save a single nickel, then $0.10, $0.15, up to $18.40 by the time you reach day 365. With the 365-Day Nickel Challenge, you\u2019ll have saved a whopping $3,339.75 by year\u2019s end.<\/p>\n\n\n\n
Paycheck and Salary-based Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nBasing your savings challenge on how much you\u2019re taking in each year \u2014 or simply following the same schedule as your paycheck \u2014 can sometimes help make things easier.<\/p>\n\n\n\n
26-Week Bi-Weekly <\/strong><\/h3>\n\n\n\nWith this challenge, you\u2019re following a similar pattern to the 52-Week Challenge, but instead you\u2019re setting your deposits on a bi-weekly schedule. Save a total of $1,053 by depositing in increasing increments of $3 ($3, $6, $9 \u2026 $26) or save $1,404 with increments of $4 ($4, $8, $12 \u2026 $104). Any increment you use will work!<\/p>\n\n\n\n
Twice Per Month<\/strong><\/h3>\n\n\n\nMaybe you actually get paid twice a month (50 paychecks a year). In this case, use this handy chart<\/a> to follow a similar increasing deposit pattern as one version of the 26-Week Bi-Weekly challenge that leaves you with $1,378 at the end of the year.<\/p>\n\n\n\nTrim 1% of Your Salary<\/strong><\/h3>\n\n\n\nWhile the name of this challenge might sound like a drag, in reality, you\u2019re actually giving yourself a 1% salary bonus! This challenge involves calculating 1% of your salary, looking at your budget, and then finding ways to save that amount by the end of the year.<\/p>\n\n\n\n
Let\u2019s say your salary is $45,000. 1% of that is $450, so you might limit your streaming subscriptions, start buying generic brands, find a cheaper mobile or internet plan \u2014 anything that would add up to that $450.<\/p>\n\n\n\n
Incidental Money Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nSome people enjoy a less structured, and more whimsical approach to things. If that\u2019s the case for you, one of these chance-driven money saving challenges might be just what the doctor ordered.<\/p>\n\n\n\n
$1 Bill<\/strong><\/h3>\n\n\n\nThis is a good one if you\u2019re on a tighter budget. Very simply, if you get a $1 bill in change, it goes towards savings! You can do this for any set amount of time \u2014 maybe you just try it for a couple of months. Or if you want a bigger stack of cash in the end, do it for a whole year. Just make sure you actually pay with cash frequently enough for this challenge to be worth it.\u00a0<\/p>\n\n\n\n
$5 Bill<\/strong><\/h3>\n\n\n\nYou guessed it! This is a variation on the $1 bill challenge using $5 bills instead.\u00a0<\/p>\n\n\n\n
Money Mistake<\/strong><\/h3>\n\n\n\nThe Money Mistake Challenge essentially acts as a failsafe for financial missteps. For the span of one year, if you do something silly like paying a bill late (inciting an extra fee) or making an impulse buy, you have to put the same amount you spent on the mistake into savings (or $5 if matching the expense is too much). This is a win-win! If you made some \u201cmistakes\u201d here and there, you\u2019ll have a nice sum on the side and an awareness of something you might want to address in the future. And if you didn\u2019t save anything, that means you were financially savvy!<\/p>\n\n\n\n
Tax Your Vices<\/strong><\/h3>\n\n\n\nThis one also does double-duty \u2014 incentivizes kicking bad habits and adds to your savings when and if you do indulge. Your \u201cvice\u201d could be anything you define as an unhealthy or unsavory habit. This could mean putting a dollar in a swear jar every time you let an expletive slip, or allocating a dollar to savings every time you buy an expensive coffee.<\/p>\n\n\n\n
Randomized Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nThese money saving challenges are similar to the \u201cincidental\u201d ones in the sense that they don\u2019t set a specific savings goal and they rely on some level of chance. However, with this group, it depends not on your behavior, but on true serendipity.<\/p>\n\n\n\n
Weather Wednesdays<\/strong><\/h3>\n\n\n\nA clever blogger<\/a> came up with this fortuitous challenge. For any given period, every Wednesday, you\u2019ll deposit an amount that matches the high temperature that day. If you live in a warm climate year-round, you could save upwards of $3,000 in a year! If you want to make this a short term challenge, pick a season appropriate for your means (winter for less income at your disposal, summer for more).<\/p>\n\n\n\nRoll the Dice<\/strong><\/h3>\n\n\n\nThe basic version of this money saving challenge is that you roll a die each day and tuck away the amount on the die in dollars. Probabilities being what they are, this challenge will help you save well over $1,000 in a year. Feel free to create variations where you roll two dice for more savings, or only roll once a week for a lower commitment. If you like the idea of an actual gameboard, pay $3 to download the colorful Stackopoly<\/a> game, another version of this fun challenge.\u00a0<\/p>\n\n\n\n100 Envelope Challenge<\/strong><\/h3>\n\n\n\nThis is a challenge for folks with a little more cash flow. You\u2019ll number a hundred envelopes from 1 to 100, mix them up, and pick one at random each day. Whatever number you get, you must either insert that amount of cash, or deposit that amount in savings. Just make sure if you are<\/em> using cash, to deposit it at least every month so that it\u2019s safe in the bank and accruing interest. In just over three months, you\u2019ll have saved an impressive $5,050. If every day is a tad much for you, you can also make this a twice weekly challenge. You\u2019ll have saved this amount just before a full year completes!\u00a0<\/p>\n\n\n\nShorter-term Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nMany of the money saving challenges we\u2019ve listed are designed to be completed over the span of a year. But there\u2019s nothing that says you can\u2019t adjust each challenge to be shorter-term! Alternatively, you can pick one of the challenges below that\u2019s designed to be finished in less time.<\/p>\n\n\n\n
6-Month<\/strong><\/h3>\n\n\n\nThis challenge will have you saving $1,378 in half a year! In your first week, save $3, then go up by increments of $4. Your last deposit will be $103. Or if you like, start with $103, and decrease the amount each week!<\/p>\n\n\n\n
3-Month<\/strong><\/h3>\n\n\n\nThis low-commitment challenge simply requires an $84 deposit each week. Seems easy, but you\u2019ll be up $1,000 by the time the three months are up.<\/p>\n\n\n\n
12-Week<\/strong><\/h3>\n\n\n\nThis challenge is similar to the previous 3-Month one, but keeps things dynamic with an increasing deposit amount. Start with $10, and increase by another $10 each week. Your final deposit will end at $120, and you\u2019ll have saved $780 by the end.<\/p>\n\n\n\n
Pantry<\/strong><\/h3>\n\n\n\nYou likely already have untapped value right in your kitchen! Challenge yourself to \u201cclean out\u201d your pantry, fridge, and freezer by consuming everything in there before eating out or doing another major grocery shop. You might allow yourself to buy a couple things like fresh produce and protein to round out the meals, but it\u2019s possible you already have those things frozen.\u00a0<\/p>\n\n\n\n
33.3<\/strong> <\/h3>\n\n\n\nGeared towards folks with a bit more disposable income, the 33.3 Challenge lasts only a month and offers a hefty $999.90 as its final savings tally. Just deposit $33.33 every day. That\u2019s it. And if you decide to do a month with 31 days, you\u2019ll sail past the thousand dollar line to reach $1,032.30.<\/p>\n\n\n\n
30-Day Meal Plan<\/strong><\/h3>\n\n\n\nFor 30 days, build your diet around meals that you or your significant other prepare yourselves. Not only will you save by not eating out (an expensive habit), your grocery bill will go down because to some degree, you\u2019re buying in bulk (i.e. a whole chicken for multiple meals), and potentially freezing a lot of expirable ingredients. Try these ideas<\/a> for more grocery savings.<\/p>\n\n\n\nCash Only For a Month<\/strong><\/h3>\n\n\n\nThis one’s just what it sounds like \u2014 you\u2019ll only use cash for a month. Psychologically, using cash to pay for things makes you a lot more aware of how much you\u2019re spending. Paying with a card does the opposite by allowing you to hand the piece of plastic over and hardly look at the actual charge. Try this challenge to not only save, but give yourself some good financial awareness.<\/p>\n\n\n\n
31 Days to Improve Your Financial Life<\/strong><\/h3>\n\n\n\nIf you\u2019re game for a real month-long project that\u2019ll turn your financial life around for the better, take on this little diddy. Specially designed by personal finance blogger Phillip Taylor, the 31 Days to Improve Your Finance Life Challenge<\/a> will have you doing daily activities like adjusting your 401(k), figuring out what assets you have, and reducing your interest rates. This one is a real game changer.<\/p>\n\n\n\nLight-lifting Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nDon\u2019t have much time on your hands? Try one of these money saving challenges for which you\u2019ll hardly have to lift a finger.<\/p>\n\n\n\n
Round Up<\/strong><\/h3>\n\n\n\nMany banks have a new option that allows you to round up to the nearest dollar on your purchases, with the \u201cremainder\u201d amount going straight into savings. For example, if you purchased a coffee for $3.12, your credit card would be charged $4 \u2014 $3.12 for the coffee and $0.88 towards savings. If your bank doesn\u2019t offer this, apps like Acorns<\/a> will take care of it for you!<\/p>\n\n\n\nDollar<\/strong><\/h3>\n\n\n\nThe Dollar Challenge only requires you to save one single solitary dollar each day. Deposit it, or put it in a hidden jar \u2014 wherever you feel the money is safest. This\u2019ll net you $365 by the end of the year \u2014 not a huge windfall, but you\u2019ll have built a great savings habit. And hey, $365 is not nothing after all!<\/p>\n\n\n\n
1%<\/strong><\/h3>\n\n\n\nSimple. Up your 401(k) contribution by 1%. In two months, raise it again by another 1%. If you want to save for the more immediate future, just replicate this outside of a 401(k): set up an automatic transfer of 1% of your gross income into a special savings account each time you get paid.<\/p>\n\n\n\n
Paring Back Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you feel like there are places you could afford to cut back on spending but you don\u2019t know where to start, take a whack at one of these babies.<\/p>\n\n\n\n
Kick a Bad Habit<\/strong><\/h3>\n\n\n\nHave a \u201cbad\u201d habit you wish you could leave behind? Smoking, drinking soda, buying expensive coffee, or the like? Well maybe instead of saying you\u2019ll never have a single expensive coffee ever again, challenge yourself to set these purchases aside for just a month. It\u2019ll feel a heck of a lot more achievable, and you\u2019ll be saving whatever you would have spent on the expense. And who knows! By the time you hit the end of the month, you may not feel the need for that thing anymore.<\/p>\n\n\n\n
Expense Tracking<\/strong><\/h3>\n\n\n\nMore than a concrete savings goal, this challenge targets an awareness of where all your expenses are going. You\u2019ll pick a period (1-3 months) during which you\u2019ll track all your expenses and categorize them. You can use paper and pen or an app like Mint<\/a>. Essentially, you\u2019re looking for places where you might be able to cut down on superficial or extraneous purchases.\u00a0<\/p>\n\n\n\nNo Spend<\/strong><\/h3>\n\n\n\nIt\u2019s really up to you how long you take this challenge on for. It can be one day, one day each week, or a whole month. The idea here is to cut out discretionary spending for the period you land on. You may still have to pay for transit and other basic needs, but when it comes to extra snacks, clothes, or anything else that isn\u2019t totally necessary, you\u2019ll let those things go. If you like, you can make a note of each point where you neglect to make a purchase you wouldn\u2019t have otherwise, and put that money directly into savings. As an extra bonus, you may even end up enjoying the creative problem-solving you\u2019ll have to do during these times!<\/p>\n\n\n\n
No Eating Out<\/strong><\/h3>\n\n\n\nAccording to the Bureau of Labor Statistics, the average American household spends $2,375 eating out in a single year<\/a>. If you or your family are the types to forego a home-cooked meal for takeout, delivery, or a dine-in experience, you could really save a lot of money by taking on the No Eating Out Challenge. Very simply, give up restaurant and takeout food for 30 days. You\u2019ll be gobsmacked at the amount you save just by preparing your own food.<\/p>\n\n\n\nCancellation<\/strong><\/h3>\n\n\n\nHow many subscriptions do you currently have? If you\u2019re not sure, it may be time to take on the Cancellation Challenge. It\u2019s all about itemizing your subscriptions (streaming services, monthly app charges, etc.), and cancelling as many as you can. <\/p>\n\n\n\n
\n<\/div>\n\n\n\n\n<\/figure><\/div>\n<\/div>\n\n\n\n\nPRO TIP:<\/strong>
If you\u2019re a streaming junky, try just subscribing to one content subscription at a time. Once you\u2019ve blazed through the Hulu shows that appeal to you, cancel that and join Netflix!<\/p>\n<\/div>\n<\/div>\n\n\n\nCoffee Break<\/strong><\/h3>\n\n\n\nDo you buy a coffee every day from Starbucks or another pricey coffee shop? Business Insider calculated that someone who buys a single $5 coffee daily spends $1,200 a year, while brewing at home would cost $45 in that same year<\/a>. Even if you challenge yourself to make your own coffee for only one month, you\u2019d be saving a sweet hundo and still getting that caffeine hit you so desperately need. You may want to deposit the amount you\u2019d be saving on your speciality coffee straight into your savings! So if your favorite latte is $2.75, each time you make your own cup of joe, set that amount aside for the future.<\/p>\n\n\n\nNo Soda or Alcohol<\/strong><\/h3>\n\n\n\nMaybe coffee isn\u2019t your bag, but you order a beer every day after work. Or maybe neither of those things strike your fancy, but you always get a big old Coke for lunch. Challenge yourself to cut that particular beverage out of the budget for just one month. These things add up, and you may be surprised at how much you actually save. To keep motivated, download or draw out a chart like this one<\/a>.<\/p>\n\n\n\nNo New Clothes<\/strong><\/h3>\n\n\n\nThis challenge may be tough for folks who enjoy retail therapy, but it\u2019s actually designed for exactly this type of person. Most of us have more than enough clothes to keep us warm throughout the year, but we may feel inclined to spice up the wardrobe more than is really necessary. If this sounds like you, challenge yourself not to buy new garb for one whole year. You may want to check out how much you spent on your attire the previous year, divide by 12, and put that amount into savings each month.<\/p>\n\n\n\n
Switch Services<\/strong><\/h3>\n\n\n\nTalking to customer service reps is rarely fun, but this challenge could help you save for an indefinite period by doing a simple one-time chore. Call your mobile, electric, gas, internet, and cable providers to see if they can offer you a customer discount. Especially if you\u2019re a loyal, long-time customer, they may be able to shave some cost off your monthly bill. If they say no, call around to see if another provider can offer you those savings. <\/p>\n\n\n\n
Save Money at a Different Grocery Store<\/strong><\/h3>\n\n\n\nIf you find that your grocery bill seems inordinately large, try shopping at a discount grocery store<\/a>. Replicate your last shopping trip\u2019s receipt at this new store (making sure you\u2019re getting the same amount of each item), and compare prices. You may decide this is a change you want to make permanent.<\/p>\n\n\n\nHobby Swap<\/strong><\/h3>\n\n\n\nDo you have a pricey hobby? Golfing, rock climbing \u2014 even woodworking can get expensive. If you\u2019ve found yourself spending a pretty penny on your pastime, challenge yourself to pick up a less expensive \u2014 or even free \u2014 hobby for a month, setting aside your costly one. Things like hiking, journaling, drawing, and volunteering at an animal shelter can be incredibly fulfilling, but will keep your wallet from leaving your pocket too often (or at all).<\/p>\n\n\n\n
No Car<\/strong><\/h3>\n\n\n\nGas \u2014 especially when the political and economic climates turn against us \u2014 can be incredibly pricey. The No Car Challenge dares you to get around for at least one month with car alternatives: bike, train, bus, or even carpooling. If you do have to use your car, plan out your trips so that you get all your chores done in one fell swoop so that you\u2019re still using it minimally. This challenge is best for people who live in areas with good public transportation infrastructure.<\/p>\n\n\n\n
Extra Fun Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you feel like you need a tiny bit more motivation, try one of these challenges that’ll add a little extra oomph.<\/p>\n\n\n\n
Money Throwdown<\/strong><\/h3>\n\n\n\nSome people thrive on competition. If that\u2019s you, challenge a friend or family member to the Money Throwdown Challenge. You can decide on the rules together, but you might try to be the one to save $1,000 the fastest or alternatively, save the most in some set amount of time.<\/p>\n\n\n\n
Bowl Grab<\/strong><\/h3>\n\n\n\nThis is a fun one to do with your significant other, or potentially the whole family! Write out different cash denominations on slips of paper (i.e. $1, $5, $10, $20), and put 30 of them in a bowl. Take turns picking out a slip each day, and whatever dollar amount you get, you have to put that amount in savings. By the end, you\u2019ll have collectively saved around $282 in one month (if you put in roughly equal amounts of each denomination on the slips).<\/p>\n\n\n\n
Savings Fever<\/strong><\/h3>\n\n\n\nIf you\u2019re the creative type, you might enjoy creating a DIY Savings Fever chart. Draw a large thermometer on a posterboard, adding your savings goal on top and inserting smaller savings goals in intervals along the thermometer. As you save, fill in the thermometer with marker colors that go from cool, to warm, to hot, hot, hot!<\/p>\n\n\n\n
Monthly Money Challenge<\/strong><\/h3>\n\n\n\nFeeling ambitious? Try the Monthly Money Challenge! This one involves picking twelve \u2014 yes, twelve! \u2014 money saving challenges, and completing one per month. If you\u2019re worried you\u2019ll get bored by one full-year challenge, this puppy will help you avoid the drudgery with an ever-changing savings dynamic. You should have plenty to pick from on this very list!<\/p>\n\n\n\n
Vacation Saving Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you\u2019re specifically looking to save for a spectacular trip, try one of these money saving challenges!<\/p>\n\n\n\n
Straightforward<\/strong> <\/h3>\n\n\n\nOne year before your vacation, plan out how much you\u2019ll be spending on the entire trip. Divide by 12, and make sure you\u2019re setting aside that amount each month for your great adventure.<\/p>\n\n\n\n
8-Week<\/strong><\/h3>\n\n\n\n
Maybe the \u201cClassic\u201d requires too much money for what you\u2019re reliably able to save up. That\u2019s OK! Take on the Mini 52-Week Challenge. Just halve the amounts you\u2019d save for the Classic version \u2014 so $0.50, then $1, then $1.50, and so on. You\u2019ll still save a nice $689 by the end of the year. Nothing to sneeze at!<\/p>\n\n\n\n
Randomized<\/strong><\/h3>\n\n\n\nIf you like the idea of throwing the dice, put 52 slips of paper in a hat with amounts ranging from 1 to 52, and select at random how much you\u2019ll deposit that week!<\/p>\n\n\n\n
Flexible<\/strong><\/h3>\n\n\n\nMaybe your weekly income isn\u2019t always consistent. If that\u2019s the case, try the flexible version of this challenge. Create a chart with amounts from 1 to 52, and simply deposit an amount that\u2019s realistic each week, crossing them off as you go. You\u2019ll save just as much as with the \u201cClassic,\u201d but you\u2019ll be giving yourself some room to compensate for slower weeks.<\/p>\n\n\n\n
$20<\/strong><\/h3>\n\n\n\nThis challenge makes things real simple. If you don\u2019t feel like keeping track of those incremental amounts, simply deposit $20 (or a set amount of your choosing) weekly. If you opt for the $20 amount, you\u2019ll end up with a cool $1,040 by the end of one year.<\/p>\n\n\n\n
365-Day Money Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nThese challenges are a twist on the 52-week ones, but have you saving daily instead of weekly. If you\u2019re good at following a routine, these challenges could be a good fit for you.<\/p>\n\n\n\n
Penny<\/strong><\/h3>\n\n\n\nThis is a pretty low-commitment challenge! You only have to deposit a single penny on day one, then incrementally increase your savings amount by a single cent each day (until you reach the final deposit amount of $3.65). It doesn\u2019t seem like a whole lot but if you stick to your schedule, you\u2019ll have saved a total of $667.95 by the end of one year.<\/p>\n\n\n\n
Nickel<\/strong><\/h3>\n\n\n\nIf you\u2019re interested in saving a bit more, take on the nickel version of this challenge. Day one you\u2019ll save a single nickel, then $0.10, $0.15, up to $18.40 by the time you reach day 365. With the 365-Day Nickel Challenge, you\u2019ll have saved a whopping $3,339.75 by year\u2019s end.<\/p>\n\n\n\n
Paycheck and Salary-based Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nBasing your savings challenge on how much you\u2019re taking in each year \u2014 or simply following the same schedule as your paycheck \u2014 can sometimes help make things easier.<\/p>\n\n\n\n
26-Week Bi-Weekly <\/strong><\/h3>\n\n\n\nWith this challenge, you\u2019re following a similar pattern to the 52-Week Challenge, but instead you\u2019re setting your deposits on a bi-weekly schedule. Save a total of $1,053 by depositing in increasing increments of $3 ($3, $6, $9 \u2026 $26) or save $1,404 with increments of $4 ($4, $8, $12 \u2026 $104). Any increment you use will work!<\/p>\n\n\n\n
Twice Per Month<\/strong><\/h3>\n\n\n\nMaybe you actually get paid twice a month (50 paychecks a year). In this case, use this handy chart<\/a> to follow a similar increasing deposit pattern as one version of the 26-Week Bi-Weekly challenge that leaves you with $1,378 at the end of the year.<\/p>\n\n\n\nTrim 1% of Your Salary<\/strong><\/h3>\n\n\n\nWhile the name of this challenge might sound like a drag, in reality, you\u2019re actually giving yourself a 1% salary bonus! This challenge involves calculating 1% of your salary, looking at your budget, and then finding ways to save that amount by the end of the year.<\/p>\n\n\n\n
Let\u2019s say your salary is $45,000. 1% of that is $450, so you might limit your streaming subscriptions, start buying generic brands, find a cheaper mobile or internet plan \u2014 anything that would add up to that $450.<\/p>\n\n\n\n
Incidental Money Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nSome people enjoy a less structured, and more whimsical approach to things. If that\u2019s the case for you, one of these chance-driven money saving challenges might be just what the doctor ordered.<\/p>\n\n\n\n
$1 Bill<\/strong><\/h3>\n\n\n\nThis is a good one if you\u2019re on a tighter budget. Very simply, if you get a $1 bill in change, it goes towards savings! You can do this for any set amount of time \u2014 maybe you just try it for a couple of months. Or if you want a bigger stack of cash in the end, do it for a whole year. Just make sure you actually pay with cash frequently enough for this challenge to be worth it.\u00a0<\/p>\n\n\n\n
$5 Bill<\/strong><\/h3>\n\n\n\nYou guessed it! This is a variation on the $1 bill challenge using $5 bills instead.\u00a0<\/p>\n\n\n\n
Money Mistake<\/strong><\/h3>\n\n\n\nThe Money Mistake Challenge essentially acts as a failsafe for financial missteps. For the span of one year, if you do something silly like paying a bill late (inciting an extra fee) or making an impulse buy, you have to put the same amount you spent on the mistake into savings (or $5 if matching the expense is too much). This is a win-win! If you made some \u201cmistakes\u201d here and there, you\u2019ll have a nice sum on the side and an awareness of something you might want to address in the future. And if you didn\u2019t save anything, that means you were financially savvy!<\/p>\n\n\n\n
Tax Your Vices<\/strong><\/h3>\n\n\n\nThis one also does double-duty \u2014 incentivizes kicking bad habits and adds to your savings when and if you do indulge. Your \u201cvice\u201d could be anything you define as an unhealthy or unsavory habit. This could mean putting a dollar in a swear jar every time you let an expletive slip, or allocating a dollar to savings every time you buy an expensive coffee.<\/p>\n\n\n\n
Randomized Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nThese money saving challenges are similar to the \u201cincidental\u201d ones in the sense that they don\u2019t set a specific savings goal and they rely on some level of chance. However, with this group, it depends not on your behavior, but on true serendipity.<\/p>\n\n\n\n
Weather Wednesdays<\/strong><\/h3>\n\n\n\nA clever blogger<\/a> came up with this fortuitous challenge. For any given period, every Wednesday, you\u2019ll deposit an amount that matches the high temperature that day. If you live in a warm climate year-round, you could save upwards of $3,000 in a year! If you want to make this a short term challenge, pick a season appropriate for your means (winter for less income at your disposal, summer for more).<\/p>\n\n\n\nRoll the Dice<\/strong><\/h3>\n\n\n\nThe basic version of this money saving challenge is that you roll a die each day and tuck away the amount on the die in dollars. Probabilities being what they are, this challenge will help you save well over $1,000 in a year. Feel free to create variations where you roll two dice for more savings, or only roll once a week for a lower commitment. If you like the idea of an actual gameboard, pay $3 to download the colorful Stackopoly<\/a> game, another version of this fun challenge.\u00a0<\/p>\n\n\n\n100 Envelope Challenge<\/strong><\/h3>\n\n\n\nThis is a challenge for folks with a little more cash flow. You\u2019ll number a hundred envelopes from 1 to 100, mix them up, and pick one at random each day. Whatever number you get, you must either insert that amount of cash, or deposit that amount in savings. Just make sure if you are<\/em> using cash, to deposit it at least every month so that it\u2019s safe in the bank and accruing interest. In just over three months, you\u2019ll have saved an impressive $5,050. If every day is a tad much for you, you can also make this a twice weekly challenge. You\u2019ll have saved this amount just before a full year completes!\u00a0<\/p>\n\n\n\nShorter-term Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nMany of the money saving challenges we\u2019ve listed are designed to be completed over the span of a year. But there\u2019s nothing that says you can\u2019t adjust each challenge to be shorter-term! Alternatively, you can pick one of the challenges below that\u2019s designed to be finished in less time.<\/p>\n\n\n\n
6-Month<\/strong><\/h3>\n\n\n\nThis challenge will have you saving $1,378 in half a year! In your first week, save $3, then go up by increments of $4. Your last deposit will be $103. Or if you like, start with $103, and decrease the amount each week!<\/p>\n\n\n\n
3-Month<\/strong><\/h3>\n\n\n\nThis low-commitment challenge simply requires an $84 deposit each week. Seems easy, but you\u2019ll be up $1,000 by the time the three months are up.<\/p>\n\n\n\n
12-Week<\/strong><\/h3>\n\n\n\nThis challenge is similar to the previous 3-Month one, but keeps things dynamic with an increasing deposit amount. Start with $10, and increase by another $10 each week. Your final deposit will end at $120, and you\u2019ll have saved $780 by the end.<\/p>\n\n\n\n
Pantry<\/strong><\/h3>\n\n\n\nYou likely already have untapped value right in your kitchen! Challenge yourself to \u201cclean out\u201d your pantry, fridge, and freezer by consuming everything in there before eating out or doing another major grocery shop. You might allow yourself to buy a couple things like fresh produce and protein to round out the meals, but it\u2019s possible you already have those things frozen.\u00a0<\/p>\n\n\n\n
33.3<\/strong> <\/h3>\n\n\n\nGeared towards folks with a bit more disposable income, the 33.3 Challenge lasts only a month and offers a hefty $999.90 as its final savings tally. Just deposit $33.33 every day. That\u2019s it. And if you decide to do a month with 31 days, you\u2019ll sail past the thousand dollar line to reach $1,032.30.<\/p>\n\n\n\n
30-Day Meal Plan<\/strong><\/h3>\n\n\n\nFor 30 days, build your diet around meals that you or your significant other prepare yourselves. Not only will you save by not eating out (an expensive habit), your grocery bill will go down because to some degree, you\u2019re buying in bulk (i.e. a whole chicken for multiple meals), and potentially freezing a lot of expirable ingredients. Try these ideas<\/a> for more grocery savings.<\/p>\n\n\n\nCash Only For a Month<\/strong><\/h3>\n\n\n\nThis one’s just what it sounds like \u2014 you\u2019ll only use cash for a month. Psychologically, using cash to pay for things makes you a lot more aware of how much you\u2019re spending. Paying with a card does the opposite by allowing you to hand the piece of plastic over and hardly look at the actual charge. Try this challenge to not only save, but give yourself some good financial awareness.<\/p>\n\n\n\n
31 Days to Improve Your Financial Life<\/strong><\/h3>\n\n\n\nIf you\u2019re game for a real month-long project that\u2019ll turn your financial life around for the better, take on this little diddy. Specially designed by personal finance blogger Phillip Taylor, the 31 Days to Improve Your Finance Life Challenge<\/a> will have you doing daily activities like adjusting your 401(k), figuring out what assets you have, and reducing your interest rates. This one is a real game changer.<\/p>\n\n\n\nLight-lifting Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nDon\u2019t have much time on your hands? Try one of these money saving challenges for which you\u2019ll hardly have to lift a finger.<\/p>\n\n\n\n
Round Up<\/strong><\/h3>\n\n\n\nMany banks have a new option that allows you to round up to the nearest dollar on your purchases, with the \u201cremainder\u201d amount going straight into savings. For example, if you purchased a coffee for $3.12, your credit card would be charged $4 \u2014 $3.12 for the coffee and $0.88 towards savings. If your bank doesn\u2019t offer this, apps like Acorns<\/a> will take care of it for you!<\/p>\n\n\n\nDollar<\/strong><\/h3>\n\n\n\nThe Dollar Challenge only requires you to save one single solitary dollar each day. Deposit it, or put it in a hidden jar \u2014 wherever you feel the money is safest. This\u2019ll net you $365 by the end of the year \u2014 not a huge windfall, but you\u2019ll have built a great savings habit. And hey, $365 is not nothing after all!<\/p>\n\n\n\n
1%<\/strong><\/h3>\n\n\n\nSimple. Up your 401(k) contribution by 1%. In two months, raise it again by another 1%. If you want to save for the more immediate future, just replicate this outside of a 401(k): set up an automatic transfer of 1% of your gross income into a special savings account each time you get paid.<\/p>\n\n\n\n
Paring Back Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you feel like there are places you could afford to cut back on spending but you don\u2019t know where to start, take a whack at one of these babies.<\/p>\n\n\n\n
Kick a Bad Habit<\/strong><\/h3>\n\n\n\nHave a \u201cbad\u201d habit you wish you could leave behind? Smoking, drinking soda, buying expensive coffee, or the like? Well maybe instead of saying you\u2019ll never have a single expensive coffee ever again, challenge yourself to set these purchases aside for just a month. It\u2019ll feel a heck of a lot more achievable, and you\u2019ll be saving whatever you would have spent on the expense. And who knows! By the time you hit the end of the month, you may not feel the need for that thing anymore.<\/p>\n\n\n\n
Expense Tracking<\/strong><\/h3>\n\n\n\nMore than a concrete savings goal, this challenge targets an awareness of where all your expenses are going. You\u2019ll pick a period (1-3 months) during which you\u2019ll track all your expenses and categorize them. You can use paper and pen or an app like Mint<\/a>. Essentially, you\u2019re looking for places where you might be able to cut down on superficial or extraneous purchases.\u00a0<\/p>\n\n\n\nNo Spend<\/strong><\/h3>\n\n\n\nIt\u2019s really up to you how long you take this challenge on for. It can be one day, one day each week, or a whole month. The idea here is to cut out discretionary spending for the period you land on. You may still have to pay for transit and other basic needs, but when it comes to extra snacks, clothes, or anything else that isn\u2019t totally necessary, you\u2019ll let those things go. If you like, you can make a note of each point where you neglect to make a purchase you wouldn\u2019t have otherwise, and put that money directly into savings. As an extra bonus, you may even end up enjoying the creative problem-solving you\u2019ll have to do during these times!<\/p>\n\n\n\n
No Eating Out<\/strong><\/h3>\n\n\n\nAccording to the Bureau of Labor Statistics, the average American household spends $2,375 eating out in a single year<\/a>. If you or your family are the types to forego a home-cooked meal for takeout, delivery, or a dine-in experience, you could really save a lot of money by taking on the No Eating Out Challenge. Very simply, give up restaurant and takeout food for 30 days. You\u2019ll be gobsmacked at the amount you save just by preparing your own food.<\/p>\n\n\n\nCancellation<\/strong><\/h3>\n\n\n\nHow many subscriptions do you currently have? If you\u2019re not sure, it may be time to take on the Cancellation Challenge. It\u2019s all about itemizing your subscriptions (streaming services, monthly app charges, etc.), and cancelling as many as you can. <\/p>\n\n\n\n
\n<\/div>\n\n\n\n\n<\/figure><\/div>\n<\/div>\n\n\n\n\nPRO TIP:<\/strong>
If you\u2019re a streaming junky, try just subscribing to one content subscription at a time. Once you\u2019ve blazed through the Hulu shows that appeal to you, cancel that and join Netflix!<\/p>\n<\/div>\n<\/div>\n\n\n\nCoffee Break<\/strong><\/h3>\n\n\n\nDo you buy a coffee every day from Starbucks or another pricey coffee shop? Business Insider calculated that someone who buys a single $5 coffee daily spends $1,200 a year, while brewing at home would cost $45 in that same year<\/a>. Even if you challenge yourself to make your own coffee for only one month, you\u2019d be saving a sweet hundo and still getting that caffeine hit you so desperately need. You may want to deposit the amount you\u2019d be saving on your speciality coffee straight into your savings! So if your favorite latte is $2.75, each time you make your own cup of joe, set that amount aside for the future.<\/p>\n\n\n\nNo Soda or Alcohol<\/strong><\/h3>\n\n\n\nMaybe coffee isn\u2019t your bag, but you order a beer every day after work. Or maybe neither of those things strike your fancy, but you always get a big old Coke for lunch. Challenge yourself to cut that particular beverage out of the budget for just one month. These things add up, and you may be surprised at how much you actually save. To keep motivated, download or draw out a chart like this one<\/a>.<\/p>\n\n\n\nNo New Clothes<\/strong><\/h3>\n\n\n\nThis challenge may be tough for folks who enjoy retail therapy, but it\u2019s actually designed for exactly this type of person. Most of us have more than enough clothes to keep us warm throughout the year, but we may feel inclined to spice up the wardrobe more than is really necessary. If this sounds like you, challenge yourself not to buy new garb for one whole year. You may want to check out how much you spent on your attire the previous year, divide by 12, and put that amount into savings each month.<\/p>\n\n\n\n
Switch Services<\/strong><\/h3>\n\n\n\nTalking to customer service reps is rarely fun, but this challenge could help you save for an indefinite period by doing a simple one-time chore. Call your mobile, electric, gas, internet, and cable providers to see if they can offer you a customer discount. Especially if you\u2019re a loyal, long-time customer, they may be able to shave some cost off your monthly bill. If they say no, call around to see if another provider can offer you those savings. <\/p>\n\n\n\n
Save Money at a Different Grocery Store<\/strong><\/h3>\n\n\n\nIf you find that your grocery bill seems inordinately large, try shopping at a discount grocery store<\/a>. Replicate your last shopping trip\u2019s receipt at this new store (making sure you\u2019re getting the same amount of each item), and compare prices. You may decide this is a change you want to make permanent.<\/p>\n\n\n\nHobby Swap<\/strong><\/h3>\n\n\n\nDo you have a pricey hobby? Golfing, rock climbing \u2014 even woodworking can get expensive. If you\u2019ve found yourself spending a pretty penny on your pastime, challenge yourself to pick up a less expensive \u2014 or even free \u2014 hobby for a month, setting aside your costly one. Things like hiking, journaling, drawing, and volunteering at an animal shelter can be incredibly fulfilling, but will keep your wallet from leaving your pocket too often (or at all).<\/p>\n\n\n\n
No Car<\/strong><\/h3>\n\n\n\nGas \u2014 especially when the political and economic climates turn against us \u2014 can be incredibly pricey. The No Car Challenge dares you to get around for at least one month with car alternatives: bike, train, bus, or even carpooling. If you do have to use your car, plan out your trips so that you get all your chores done in one fell swoop so that you\u2019re still using it minimally. This challenge is best for people who live in areas with good public transportation infrastructure.<\/p>\n\n\n\n
Extra Fun Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you feel like you need a tiny bit more motivation, try one of these challenges that’ll add a little extra oomph.<\/p>\n\n\n\n
Money Throwdown<\/strong><\/h3>\n\n\n\nSome people thrive on competition. If that\u2019s you, challenge a friend or family member to the Money Throwdown Challenge. You can decide on the rules together, but you might try to be the one to save $1,000 the fastest or alternatively, save the most in some set amount of time.<\/p>\n\n\n\n
Bowl Grab<\/strong><\/h3>\n\n\n\nThis is a fun one to do with your significant other, or potentially the whole family! Write out different cash denominations on slips of paper (i.e. $1, $5, $10, $20), and put 30 of them in a bowl. Take turns picking out a slip each day, and whatever dollar amount you get, you have to put that amount in savings. By the end, you\u2019ll have collectively saved around $282 in one month (if you put in roughly equal amounts of each denomination on the slips).<\/p>\n\n\n\n
Savings Fever<\/strong><\/h3>\n\n\n\nIf you\u2019re the creative type, you might enjoy creating a DIY Savings Fever chart. Draw a large thermometer on a posterboard, adding your savings goal on top and inserting smaller savings goals in intervals along the thermometer. As you save, fill in the thermometer with marker colors that go from cool, to warm, to hot, hot, hot!<\/p>\n\n\n\n
Monthly Money Challenge<\/strong><\/h3>\n\n\n\nFeeling ambitious? Try the Monthly Money Challenge! This one involves picking twelve \u2014 yes, twelve! \u2014 money saving challenges, and completing one per month. If you\u2019re worried you\u2019ll get bored by one full-year challenge, this puppy will help you avoid the drudgery with an ever-changing savings dynamic. You should have plenty to pick from on this very list!<\/p>\n\n\n\n
Vacation Saving Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you\u2019re specifically looking to save for a spectacular trip, try one of these money saving challenges!<\/p>\n\n\n\n
Straightforward<\/strong> <\/h3>\n\n\n\nOne year before your vacation, plan out how much you\u2019ll be spending on the entire trip. Divide by 12, and make sure you\u2019re setting aside that amount each month for your great adventure.<\/p>\n\n\n\n
8-Week<\/strong><\/h3>\n\n\n\n
Maybe your weekly income isn\u2019t always consistent. If that\u2019s the case, try the flexible version of this challenge. Create a chart with amounts from 1 to 52, and simply deposit an amount that\u2019s realistic each week, crossing them off as you go. You\u2019ll save just as much as with the \u201cClassic,\u201d but you\u2019ll be giving yourself some room to compensate for slower weeks.<\/p>\n\n\n\n
$20<\/strong><\/h3>\n\n\n\nThis challenge makes things real simple. If you don\u2019t feel like keeping track of those incremental amounts, simply deposit $20 (or a set amount of your choosing) weekly. If you opt for the $20 amount, you\u2019ll end up with a cool $1,040 by the end of one year.<\/p>\n\n\n\n
365-Day Money Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nThese challenges are a twist on the 52-week ones, but have you saving daily instead of weekly. If you\u2019re good at following a routine, these challenges could be a good fit for you.<\/p>\n\n\n\n
Penny<\/strong><\/h3>\n\n\n\nThis is a pretty low-commitment challenge! You only have to deposit a single penny on day one, then incrementally increase your savings amount by a single cent each day (until you reach the final deposit amount of $3.65). It doesn\u2019t seem like a whole lot but if you stick to your schedule, you\u2019ll have saved a total of $667.95 by the end of one year.<\/p>\n\n\n\n
Nickel<\/strong><\/h3>\n\n\n\nIf you\u2019re interested in saving a bit more, take on the nickel version of this challenge. Day one you\u2019ll save a single nickel, then $0.10, $0.15, up to $18.40 by the time you reach day 365. With the 365-Day Nickel Challenge, you\u2019ll have saved a whopping $3,339.75 by year\u2019s end.<\/p>\n\n\n\n
Paycheck and Salary-based Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nBasing your savings challenge on how much you\u2019re taking in each year \u2014 or simply following the same schedule as your paycheck \u2014 can sometimes help make things easier.<\/p>\n\n\n\n
26-Week Bi-Weekly <\/strong><\/h3>\n\n\n\nWith this challenge, you\u2019re following a similar pattern to the 52-Week Challenge, but instead you\u2019re setting your deposits on a bi-weekly schedule. Save a total of $1,053 by depositing in increasing increments of $3 ($3, $6, $9 \u2026 $26) or save $1,404 with increments of $4 ($4, $8, $12 \u2026 $104). Any increment you use will work!<\/p>\n\n\n\n
Twice Per Month<\/strong><\/h3>\n\n\n\nMaybe you actually get paid twice a month (50 paychecks a year). In this case, use this handy chart<\/a> to follow a similar increasing deposit pattern as one version of the 26-Week Bi-Weekly challenge that leaves you with $1,378 at the end of the year.<\/p>\n\n\n\nTrim 1% of Your Salary<\/strong><\/h3>\n\n\n\nWhile the name of this challenge might sound like a drag, in reality, you\u2019re actually giving yourself a 1% salary bonus! This challenge involves calculating 1% of your salary, looking at your budget, and then finding ways to save that amount by the end of the year.<\/p>\n\n\n\n
Let\u2019s say your salary is $45,000. 1% of that is $450, so you might limit your streaming subscriptions, start buying generic brands, find a cheaper mobile or internet plan \u2014 anything that would add up to that $450.<\/p>\n\n\n\n
Incidental Money Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nSome people enjoy a less structured, and more whimsical approach to things. If that\u2019s the case for you, one of these chance-driven money saving challenges might be just what the doctor ordered.<\/p>\n\n\n\n
$1 Bill<\/strong><\/h3>\n\n\n\nThis is a good one if you\u2019re on a tighter budget. Very simply, if you get a $1 bill in change, it goes towards savings! You can do this for any set amount of time \u2014 maybe you just try it for a couple of months. Or if you want a bigger stack of cash in the end, do it for a whole year. Just make sure you actually pay with cash frequently enough for this challenge to be worth it.\u00a0<\/p>\n\n\n\n
$5 Bill<\/strong><\/h3>\n\n\n\nYou guessed it! This is a variation on the $1 bill challenge using $5 bills instead.\u00a0<\/p>\n\n\n\n
Money Mistake<\/strong><\/h3>\n\n\n\nThe Money Mistake Challenge essentially acts as a failsafe for financial missteps. For the span of one year, if you do something silly like paying a bill late (inciting an extra fee) or making an impulse buy, you have to put the same amount you spent on the mistake into savings (or $5 if matching the expense is too much). This is a win-win! If you made some \u201cmistakes\u201d here and there, you\u2019ll have a nice sum on the side and an awareness of something you might want to address in the future. And if you didn\u2019t save anything, that means you were financially savvy!<\/p>\n\n\n\n
Tax Your Vices<\/strong><\/h3>\n\n\n\nThis one also does double-duty \u2014 incentivizes kicking bad habits and adds to your savings when and if you do indulge. Your \u201cvice\u201d could be anything you define as an unhealthy or unsavory habit. This could mean putting a dollar in a swear jar every time you let an expletive slip, or allocating a dollar to savings every time you buy an expensive coffee.<\/p>\n\n\n\n
Randomized Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nThese money saving challenges are similar to the \u201cincidental\u201d ones in the sense that they don\u2019t set a specific savings goal and they rely on some level of chance. However, with this group, it depends not on your behavior, but on true serendipity.<\/p>\n\n\n\n
Weather Wednesdays<\/strong><\/h3>\n\n\n\nA clever blogger<\/a> came up with this fortuitous challenge. For any given period, every Wednesday, you\u2019ll deposit an amount that matches the high temperature that day. If you live in a warm climate year-round, you could save upwards of $3,000 in a year! If you want to make this a short term challenge, pick a season appropriate for your means (winter for less income at your disposal, summer for more).<\/p>\n\n\n\nRoll the Dice<\/strong><\/h3>\n\n\n\nThe basic version of this money saving challenge is that you roll a die each day and tuck away the amount on the die in dollars. Probabilities being what they are, this challenge will help you save well over $1,000 in a year. Feel free to create variations where you roll two dice for more savings, or only roll once a week for a lower commitment. If you like the idea of an actual gameboard, pay $3 to download the colorful Stackopoly<\/a> game, another version of this fun challenge.\u00a0<\/p>\n\n\n\n100 Envelope Challenge<\/strong><\/h3>\n\n\n\nThis is a challenge for folks with a little more cash flow. You\u2019ll number a hundred envelopes from 1 to 100, mix them up, and pick one at random each day. Whatever number you get, you must either insert that amount of cash, or deposit that amount in savings. Just make sure if you are<\/em> using cash, to deposit it at least every month so that it\u2019s safe in the bank and accruing interest. In just over three months, you\u2019ll have saved an impressive $5,050. If every day is a tad much for you, you can also make this a twice weekly challenge. You\u2019ll have saved this amount just before a full year completes!\u00a0<\/p>\n\n\n\nShorter-term Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nMany of the money saving challenges we\u2019ve listed are designed to be completed over the span of a year. But there\u2019s nothing that says you can\u2019t adjust each challenge to be shorter-term! Alternatively, you can pick one of the challenges below that\u2019s designed to be finished in less time.<\/p>\n\n\n\n
6-Month<\/strong><\/h3>\n\n\n\nThis challenge will have you saving $1,378 in half a year! In your first week, save $3, then go up by increments of $4. Your last deposit will be $103. Or if you like, start with $103, and decrease the amount each week!<\/p>\n\n\n\n
3-Month<\/strong><\/h3>\n\n\n\nThis low-commitment challenge simply requires an $84 deposit each week. Seems easy, but you\u2019ll be up $1,000 by the time the three months are up.<\/p>\n\n\n\n
12-Week<\/strong><\/h3>\n\n\n\nThis challenge is similar to the previous 3-Month one, but keeps things dynamic with an increasing deposit amount. Start with $10, and increase by another $10 each week. Your final deposit will end at $120, and you\u2019ll have saved $780 by the end.<\/p>\n\n\n\n
Pantry<\/strong><\/h3>\n\n\n\nYou likely already have untapped value right in your kitchen! Challenge yourself to \u201cclean out\u201d your pantry, fridge, and freezer by consuming everything in there before eating out or doing another major grocery shop. You might allow yourself to buy a couple things like fresh produce and protein to round out the meals, but it\u2019s possible you already have those things frozen.\u00a0<\/p>\n\n\n\n
33.3<\/strong> <\/h3>\n\n\n\nGeared towards folks with a bit more disposable income, the 33.3 Challenge lasts only a month and offers a hefty $999.90 as its final savings tally. Just deposit $33.33 every day. That\u2019s it. And if you decide to do a month with 31 days, you\u2019ll sail past the thousand dollar line to reach $1,032.30.<\/p>\n\n\n\n
30-Day Meal Plan<\/strong><\/h3>\n\n\n\nFor 30 days, build your diet around meals that you or your significant other prepare yourselves. Not only will you save by not eating out (an expensive habit), your grocery bill will go down because to some degree, you\u2019re buying in bulk (i.e. a whole chicken for multiple meals), and potentially freezing a lot of expirable ingredients. Try these ideas<\/a> for more grocery savings.<\/p>\n\n\n\nCash Only For a Month<\/strong><\/h3>\n\n\n\nThis one’s just what it sounds like \u2014 you\u2019ll only use cash for a month. Psychologically, using cash to pay for things makes you a lot more aware of how much you\u2019re spending. Paying with a card does the opposite by allowing you to hand the piece of plastic over and hardly look at the actual charge. Try this challenge to not only save, but give yourself some good financial awareness.<\/p>\n\n\n\n
31 Days to Improve Your Financial Life<\/strong><\/h3>\n\n\n\nIf you\u2019re game for a real month-long project that\u2019ll turn your financial life around for the better, take on this little diddy. Specially designed by personal finance blogger Phillip Taylor, the 31 Days to Improve Your Finance Life Challenge<\/a> will have you doing daily activities like adjusting your 401(k), figuring out what assets you have, and reducing your interest rates. This one is a real game changer.<\/p>\n\n\n\nLight-lifting Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nDon\u2019t have much time on your hands? Try one of these money saving challenges for which you\u2019ll hardly have to lift a finger.<\/p>\n\n\n\n
Round Up<\/strong><\/h3>\n\n\n\nMany banks have a new option that allows you to round up to the nearest dollar on your purchases, with the \u201cremainder\u201d amount going straight into savings. For example, if you purchased a coffee for $3.12, your credit card would be charged $4 \u2014 $3.12 for the coffee and $0.88 towards savings. If your bank doesn\u2019t offer this, apps like Acorns<\/a> will take care of it for you!<\/p>\n\n\n\nDollar<\/strong><\/h3>\n\n\n\nThe Dollar Challenge only requires you to save one single solitary dollar each day. Deposit it, or put it in a hidden jar \u2014 wherever you feel the money is safest. This\u2019ll net you $365 by the end of the year \u2014 not a huge windfall, but you\u2019ll have built a great savings habit. And hey, $365 is not nothing after all!<\/p>\n\n\n\n
1%<\/strong><\/h3>\n\n\n\nSimple. Up your 401(k) contribution by 1%. In two months, raise it again by another 1%. If you want to save for the more immediate future, just replicate this outside of a 401(k): set up an automatic transfer of 1% of your gross income into a special savings account each time you get paid.<\/p>\n\n\n\n
Paring Back Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you feel like there are places you could afford to cut back on spending but you don\u2019t know where to start, take a whack at one of these babies.<\/p>\n\n\n\n
Kick a Bad Habit<\/strong><\/h3>\n\n\n\nHave a \u201cbad\u201d habit you wish you could leave behind? Smoking, drinking soda, buying expensive coffee, or the like? Well maybe instead of saying you\u2019ll never have a single expensive coffee ever again, challenge yourself to set these purchases aside for just a month. It\u2019ll feel a heck of a lot more achievable, and you\u2019ll be saving whatever you would have spent on the expense. And who knows! By the time you hit the end of the month, you may not feel the need for that thing anymore.<\/p>\n\n\n\n
Expense Tracking<\/strong><\/h3>\n\n\n\nMore than a concrete savings goal, this challenge targets an awareness of where all your expenses are going. You\u2019ll pick a period (1-3 months) during which you\u2019ll track all your expenses and categorize them. You can use paper and pen or an app like Mint<\/a>. Essentially, you\u2019re looking for places where you might be able to cut down on superficial or extraneous purchases.\u00a0<\/p>\n\n\n\nNo Spend<\/strong><\/h3>\n\n\n\nIt\u2019s really up to you how long you take this challenge on for. It can be one day, one day each week, or a whole month. The idea here is to cut out discretionary spending for the period you land on. You may still have to pay for transit and other basic needs, but when it comes to extra snacks, clothes, or anything else that isn\u2019t totally necessary, you\u2019ll let those things go. If you like, you can make a note of each point where you neglect to make a purchase you wouldn\u2019t have otherwise, and put that money directly into savings. As an extra bonus, you may even end up enjoying the creative problem-solving you\u2019ll have to do during these times!<\/p>\n\n\n\n
No Eating Out<\/strong><\/h3>\n\n\n\nAccording to the Bureau of Labor Statistics, the average American household spends $2,375 eating out in a single year<\/a>. If you or your family are the types to forego a home-cooked meal for takeout, delivery, or a dine-in experience, you could really save a lot of money by taking on the No Eating Out Challenge. Very simply, give up restaurant and takeout food for 30 days. You\u2019ll be gobsmacked at the amount you save just by preparing your own food.<\/p>\n\n\n\nCancellation<\/strong><\/h3>\n\n\n\nHow many subscriptions do you currently have? If you\u2019re not sure, it may be time to take on the Cancellation Challenge. It\u2019s all about itemizing your subscriptions (streaming services, monthly app charges, etc.), and cancelling as many as you can. <\/p>\n\n\n\n
\n<\/div>\n\n\n\n\n<\/figure><\/div>\n<\/div>\n\n\n\n\nPRO TIP:<\/strong>
If you\u2019re a streaming junky, try just subscribing to one content subscription at a time. Once you\u2019ve blazed through the Hulu shows that appeal to you, cancel that and join Netflix!<\/p>\n<\/div>\n<\/div>\n\n\n\nCoffee Break<\/strong><\/h3>\n\n\n\nDo you buy a coffee every day from Starbucks or another pricey coffee shop? Business Insider calculated that someone who buys a single $5 coffee daily spends $1,200 a year, while brewing at home would cost $45 in that same year<\/a>. Even if you challenge yourself to make your own coffee for only one month, you\u2019d be saving a sweet hundo and still getting that caffeine hit you so desperately need. You may want to deposit the amount you\u2019d be saving on your speciality coffee straight into your savings! So if your favorite latte is $2.75, each time you make your own cup of joe, set that amount aside for the future.<\/p>\n\n\n\nNo Soda or Alcohol<\/strong><\/h3>\n\n\n\nMaybe coffee isn\u2019t your bag, but you order a beer every day after work. Or maybe neither of those things strike your fancy, but you always get a big old Coke for lunch. Challenge yourself to cut that particular beverage out of the budget for just one month. These things add up, and you may be surprised at how much you actually save. To keep motivated, download or draw out a chart like this one<\/a>.<\/p>\n\n\n\nNo New Clothes<\/strong><\/h3>\n\n\n\nThis challenge may be tough for folks who enjoy retail therapy, but it\u2019s actually designed for exactly this type of person. Most of us have more than enough clothes to keep us warm throughout the year, but we may feel inclined to spice up the wardrobe more than is really necessary. If this sounds like you, challenge yourself not to buy new garb for one whole year. You may want to check out how much you spent on your attire the previous year, divide by 12, and put that amount into savings each month.<\/p>\n\n\n\n
Switch Services<\/strong><\/h3>\n\n\n\nTalking to customer service reps is rarely fun, but this challenge could help you save for an indefinite period by doing a simple one-time chore. Call your mobile, electric, gas, internet, and cable providers to see if they can offer you a customer discount. Especially if you\u2019re a loyal, long-time customer, they may be able to shave some cost off your monthly bill. If they say no, call around to see if another provider can offer you those savings. <\/p>\n\n\n\n
Save Money at a Different Grocery Store<\/strong><\/h3>\n\n\n\nIf you find that your grocery bill seems inordinately large, try shopping at a discount grocery store<\/a>. Replicate your last shopping trip\u2019s receipt at this new store (making sure you\u2019re getting the same amount of each item), and compare prices. You may decide this is a change you want to make permanent.<\/p>\n\n\n\nHobby Swap<\/strong><\/h3>\n\n\n\nDo you have a pricey hobby? Golfing, rock climbing \u2014 even woodworking can get expensive. If you\u2019ve found yourself spending a pretty penny on your pastime, challenge yourself to pick up a less expensive \u2014 or even free \u2014 hobby for a month, setting aside your costly one. Things like hiking, journaling, drawing, and volunteering at an animal shelter can be incredibly fulfilling, but will keep your wallet from leaving your pocket too often (or at all).<\/p>\n\n\n\n
No Car<\/strong><\/h3>\n\n\n\nGas \u2014 especially when the political and economic climates turn against us \u2014 can be incredibly pricey. The No Car Challenge dares you to get around for at least one month with car alternatives: bike, train, bus, or even carpooling. If you do have to use your car, plan out your trips so that you get all your chores done in one fell swoop so that you\u2019re still using it minimally. This challenge is best for people who live in areas with good public transportation infrastructure.<\/p>\n\n\n\n
Extra Fun Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you feel like you need a tiny bit more motivation, try one of these challenges that’ll add a little extra oomph.<\/p>\n\n\n\n
Money Throwdown<\/strong><\/h3>\n\n\n\nSome people thrive on competition. If that\u2019s you, challenge a friend or family member to the Money Throwdown Challenge. You can decide on the rules together, but you might try to be the one to save $1,000 the fastest or alternatively, save the most in some set amount of time.<\/p>\n\n\n\n
Bowl Grab<\/strong><\/h3>\n\n\n\nThis is a fun one to do with your significant other, or potentially the whole family! Write out different cash denominations on slips of paper (i.e. $1, $5, $10, $20), and put 30 of them in a bowl. Take turns picking out a slip each day, and whatever dollar amount you get, you have to put that amount in savings. By the end, you\u2019ll have collectively saved around $282 in one month (if you put in roughly equal amounts of each denomination on the slips).<\/p>\n\n\n\n
Savings Fever<\/strong><\/h3>\n\n\n\nIf you\u2019re the creative type, you might enjoy creating a DIY Savings Fever chart. Draw a large thermometer on a posterboard, adding your savings goal on top and inserting smaller savings goals in intervals along the thermometer. As you save, fill in the thermometer with marker colors that go from cool, to warm, to hot, hot, hot!<\/p>\n\n\n\n
Monthly Money Challenge<\/strong><\/h3>\n\n\n\nFeeling ambitious? Try the Monthly Money Challenge! This one involves picking twelve \u2014 yes, twelve! \u2014 money saving challenges, and completing one per month. If you\u2019re worried you\u2019ll get bored by one full-year challenge, this puppy will help you avoid the drudgery with an ever-changing savings dynamic. You should have plenty to pick from on this very list!<\/p>\n\n\n\n
Vacation Saving Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you\u2019re specifically looking to save for a spectacular trip, try one of these money saving challenges!<\/p>\n\n\n\n
Straightforward<\/strong> <\/h3>\n\n\n\nOne year before your vacation, plan out how much you\u2019ll be spending on the entire trip. Divide by 12, and make sure you\u2019re setting aside that amount each month for your great adventure.<\/p>\n\n\n\n
8-Week<\/strong><\/h3>\n\n\n\n
<\/figure>\n\n\n\nThese challenges are a twist on the 52-week ones, but have you saving daily instead of weekly. If you\u2019re good at following a routine, these challenges could be a good fit for you.<\/p>\n\n\n\n
Penny<\/strong><\/h3>\n\n\n\nThis is a pretty low-commitment challenge! You only have to deposit a single penny on day one, then incrementally increase your savings amount by a single cent each day (until you reach the final deposit amount of $3.65). It doesn\u2019t seem like a whole lot but if you stick to your schedule, you\u2019ll have saved a total of $667.95 by the end of one year.<\/p>\n\n\n\n
Nickel<\/strong><\/h3>\n\n\n\nIf you\u2019re interested in saving a bit more, take on the nickel version of this challenge. Day one you\u2019ll save a single nickel, then $0.10, $0.15, up to $18.40 by the time you reach day 365. With the 365-Day Nickel Challenge, you\u2019ll have saved a whopping $3,339.75 by year\u2019s end.<\/p>\n\n\n\n
Paycheck and Salary-based Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nBasing your savings challenge on how much you\u2019re taking in each year \u2014 or simply following the same schedule as your paycheck \u2014 can sometimes help make things easier.<\/p>\n\n\n\n
26-Week Bi-Weekly <\/strong><\/h3>\n\n\n\nWith this challenge, you\u2019re following a similar pattern to the 52-Week Challenge, but instead you\u2019re setting your deposits on a bi-weekly schedule. Save a total of $1,053 by depositing in increasing increments of $3 ($3, $6, $9 \u2026 $26) or save $1,404 with increments of $4 ($4, $8, $12 \u2026 $104). Any increment you use will work!<\/p>\n\n\n\n
Twice Per Month<\/strong><\/h3>\n\n\n\nMaybe you actually get paid twice a month (50 paychecks a year). In this case, use this handy chart<\/a> to follow a similar increasing deposit pattern as one version of the 26-Week Bi-Weekly challenge that leaves you with $1,378 at the end of the year.<\/p>\n\n\n\nTrim 1% of Your Salary<\/strong><\/h3>\n\n\n\nWhile the name of this challenge might sound like a drag, in reality, you\u2019re actually giving yourself a 1% salary bonus! This challenge involves calculating 1% of your salary, looking at your budget, and then finding ways to save that amount by the end of the year.<\/p>\n\n\n\n
Let\u2019s say your salary is $45,000. 1% of that is $450, so you might limit your streaming subscriptions, start buying generic brands, find a cheaper mobile or internet plan \u2014 anything that would add up to that $450.<\/p>\n\n\n\n
Incidental Money Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nSome people enjoy a less structured, and more whimsical approach to things. If that\u2019s the case for you, one of these chance-driven money saving challenges might be just what the doctor ordered.<\/p>\n\n\n\n
$1 Bill<\/strong><\/h3>\n\n\n\nThis is a good one if you\u2019re on a tighter budget. Very simply, if you get a $1 bill in change, it goes towards savings! You can do this for any set amount of time \u2014 maybe you just try it for a couple of months. Or if you want a bigger stack of cash in the end, do it for a whole year. Just make sure you actually pay with cash frequently enough for this challenge to be worth it.\u00a0<\/p>\n\n\n\n
$5 Bill<\/strong><\/h3>\n\n\n\nYou guessed it! This is a variation on the $1 bill challenge using $5 bills instead.\u00a0<\/p>\n\n\n\n
Money Mistake<\/strong><\/h3>\n\n\n\nThe Money Mistake Challenge essentially acts as a failsafe for financial missteps. For the span of one year, if you do something silly like paying a bill late (inciting an extra fee) or making an impulse buy, you have to put the same amount you spent on the mistake into savings (or $5 if matching the expense is too much). This is a win-win! If you made some \u201cmistakes\u201d here and there, you\u2019ll have a nice sum on the side and an awareness of something you might want to address in the future. And if you didn\u2019t save anything, that means you were financially savvy!<\/p>\n\n\n\n
Tax Your Vices<\/strong><\/h3>\n\n\n\nThis one also does double-duty \u2014 incentivizes kicking bad habits and adds to your savings when and if you do indulge. Your \u201cvice\u201d could be anything you define as an unhealthy or unsavory habit. This could mean putting a dollar in a swear jar every time you let an expletive slip, or allocating a dollar to savings every time you buy an expensive coffee.<\/p>\n\n\n\n
Randomized Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nThese money saving challenges are similar to the \u201cincidental\u201d ones in the sense that they don\u2019t set a specific savings goal and they rely on some level of chance. However, with this group, it depends not on your behavior, but on true serendipity.<\/p>\n\n\n\n
Weather Wednesdays<\/strong><\/h3>\n\n\n\nA clever blogger<\/a> came up with this fortuitous challenge. For any given period, every Wednesday, you\u2019ll deposit an amount that matches the high temperature that day. If you live in a warm climate year-round, you could save upwards of $3,000 in a year! If you want to make this a short term challenge, pick a season appropriate for your means (winter for less income at your disposal, summer for more).<\/p>\n\n\n\nRoll the Dice<\/strong><\/h3>\n\n\n\nThe basic version of this money saving challenge is that you roll a die each day and tuck away the amount on the die in dollars. Probabilities being what they are, this challenge will help you save well over $1,000 in a year. Feel free to create variations where you roll two dice for more savings, or only roll once a week for a lower commitment. If you like the idea of an actual gameboard, pay $3 to download the colorful Stackopoly<\/a> game, another version of this fun challenge.\u00a0<\/p>\n\n\n\n100 Envelope Challenge<\/strong><\/h3>\n\n\n\nThis is a challenge for folks with a little more cash flow. You\u2019ll number a hundred envelopes from 1 to 100, mix them up, and pick one at random each day. Whatever number you get, you must either insert that amount of cash, or deposit that amount in savings. Just make sure if you are<\/em> using cash, to deposit it at least every month so that it\u2019s safe in the bank and accruing interest. In just over three months, you\u2019ll have saved an impressive $5,050. If every day is a tad much for you, you can also make this a twice weekly challenge. You\u2019ll have saved this amount just before a full year completes!\u00a0<\/p>\n\n\n\nShorter-term Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nMany of the money saving challenges we\u2019ve listed are designed to be completed over the span of a year. But there\u2019s nothing that says you can\u2019t adjust each challenge to be shorter-term! Alternatively, you can pick one of the challenges below that\u2019s designed to be finished in less time.<\/p>\n\n\n\n
6-Month<\/strong><\/h3>\n\n\n\nThis challenge will have you saving $1,378 in half a year! In your first week, save $3, then go up by increments of $4. Your last deposit will be $103. Or if you like, start with $103, and decrease the amount each week!<\/p>\n\n\n\n
3-Month<\/strong><\/h3>\n\n\n\nThis low-commitment challenge simply requires an $84 deposit each week. Seems easy, but you\u2019ll be up $1,000 by the time the three months are up.<\/p>\n\n\n\n
12-Week<\/strong><\/h3>\n\n\n\nThis challenge is similar to the previous 3-Month one, but keeps things dynamic with an increasing deposit amount. Start with $10, and increase by another $10 each week. Your final deposit will end at $120, and you\u2019ll have saved $780 by the end.<\/p>\n\n\n\n
Pantry<\/strong><\/h3>\n\n\n\nYou likely already have untapped value right in your kitchen! Challenge yourself to \u201cclean out\u201d your pantry, fridge, and freezer by consuming everything in there before eating out or doing another major grocery shop. You might allow yourself to buy a couple things like fresh produce and protein to round out the meals, but it\u2019s possible you already have those things frozen.\u00a0<\/p>\n\n\n\n
33.3<\/strong> <\/h3>\n\n\n\nGeared towards folks with a bit more disposable income, the 33.3 Challenge lasts only a month and offers a hefty $999.90 as its final savings tally. Just deposit $33.33 every day. That\u2019s it. And if you decide to do a month with 31 days, you\u2019ll sail past the thousand dollar line to reach $1,032.30.<\/p>\n\n\n\n
30-Day Meal Plan<\/strong><\/h3>\n\n\n\nFor 30 days, build your diet around meals that you or your significant other prepare yourselves. Not only will you save by not eating out (an expensive habit), your grocery bill will go down because to some degree, you\u2019re buying in bulk (i.e. a whole chicken for multiple meals), and potentially freezing a lot of expirable ingredients. Try these ideas<\/a> for more grocery savings.<\/p>\n\n\n\nCash Only For a Month<\/strong><\/h3>\n\n\n\nThis one’s just what it sounds like \u2014 you\u2019ll only use cash for a month. Psychologically, using cash to pay for things makes you a lot more aware of how much you\u2019re spending. Paying with a card does the opposite by allowing you to hand the piece of plastic over and hardly look at the actual charge. Try this challenge to not only save, but give yourself some good financial awareness.<\/p>\n\n\n\n
31 Days to Improve Your Financial Life<\/strong><\/h3>\n\n\n\nIf you\u2019re game for a real month-long project that\u2019ll turn your financial life around for the better, take on this little diddy. Specially designed by personal finance blogger Phillip Taylor, the 31 Days to Improve Your Finance Life Challenge<\/a> will have you doing daily activities like adjusting your 401(k), figuring out what assets you have, and reducing your interest rates. This one is a real game changer.<\/p>\n\n\n\nLight-lifting Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nDon\u2019t have much time on your hands? Try one of these money saving challenges for which you\u2019ll hardly have to lift a finger.<\/p>\n\n\n\n
Round Up<\/strong><\/h3>\n\n\n\nMany banks have a new option that allows you to round up to the nearest dollar on your purchases, with the \u201cremainder\u201d amount going straight into savings. For example, if you purchased a coffee for $3.12, your credit card would be charged $4 \u2014 $3.12 for the coffee and $0.88 towards savings. If your bank doesn\u2019t offer this, apps like Acorns<\/a> will take care of it for you!<\/p>\n\n\n\nDollar<\/strong><\/h3>\n\n\n\nThe Dollar Challenge only requires you to save one single solitary dollar each day. Deposit it, or put it in a hidden jar \u2014 wherever you feel the money is safest. This\u2019ll net you $365 by the end of the year \u2014 not a huge windfall, but you\u2019ll have built a great savings habit. And hey, $365 is not nothing after all!<\/p>\n\n\n\n
1%<\/strong><\/h3>\n\n\n\nSimple. Up your 401(k) contribution by 1%. In two months, raise it again by another 1%. If you want to save for the more immediate future, just replicate this outside of a 401(k): set up an automatic transfer of 1% of your gross income into a special savings account each time you get paid.<\/p>\n\n\n\n
Paring Back Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you feel like there are places you could afford to cut back on spending but you don\u2019t know where to start, take a whack at one of these babies.<\/p>\n\n\n\n
Kick a Bad Habit<\/strong><\/h3>\n\n\n\nHave a \u201cbad\u201d habit you wish you could leave behind? Smoking, drinking soda, buying expensive coffee, or the like? Well maybe instead of saying you\u2019ll never have a single expensive coffee ever again, challenge yourself to set these purchases aside for just a month. It\u2019ll feel a heck of a lot more achievable, and you\u2019ll be saving whatever you would have spent on the expense. And who knows! By the time you hit the end of the month, you may not feel the need for that thing anymore.<\/p>\n\n\n\n
Expense Tracking<\/strong><\/h3>\n\n\n\nMore than a concrete savings goal, this challenge targets an awareness of where all your expenses are going. You\u2019ll pick a period (1-3 months) during which you\u2019ll track all your expenses and categorize them. You can use paper and pen or an app like Mint<\/a>. Essentially, you\u2019re looking for places where you might be able to cut down on superficial or extraneous purchases.\u00a0<\/p>\n\n\n\nNo Spend<\/strong><\/h3>\n\n\n\nIt\u2019s really up to you how long you take this challenge on for. It can be one day, one day each week, or a whole month. The idea here is to cut out discretionary spending for the period you land on. You may still have to pay for transit and other basic needs, but when it comes to extra snacks, clothes, or anything else that isn\u2019t totally necessary, you\u2019ll let those things go. If you like, you can make a note of each point where you neglect to make a purchase you wouldn\u2019t have otherwise, and put that money directly into savings. As an extra bonus, you may even end up enjoying the creative problem-solving you\u2019ll have to do during these times!<\/p>\n\n\n\n
No Eating Out<\/strong><\/h3>\n\n\n\nAccording to the Bureau of Labor Statistics, the average American household spends $2,375 eating out in a single year<\/a>. If you or your family are the types to forego a home-cooked meal for takeout, delivery, or a dine-in experience, you could really save a lot of money by taking on the No Eating Out Challenge. Very simply, give up restaurant and takeout food for 30 days. You\u2019ll be gobsmacked at the amount you save just by preparing your own food.<\/p>\n\n\n\nCancellation<\/strong><\/h3>\n\n\n\nHow many subscriptions do you currently have? If you\u2019re not sure, it may be time to take on the Cancellation Challenge. It\u2019s all about itemizing your subscriptions (streaming services, monthly app charges, etc.), and cancelling as many as you can. <\/p>\n\n\n\n
\n<\/div>\n\n\n\n\n<\/figure><\/div>\n<\/div>\n\n\n\n\nPRO TIP:<\/strong>
If you\u2019re a streaming junky, try just subscribing to one content subscription at a time. Once you\u2019ve blazed through the Hulu shows that appeal to you, cancel that and join Netflix!<\/p>\n<\/div>\n<\/div>\n\n\n\nCoffee Break<\/strong><\/h3>\n\n\n\nDo you buy a coffee every day from Starbucks or another pricey coffee shop? Business Insider calculated that someone who buys a single $5 coffee daily spends $1,200 a year, while brewing at home would cost $45 in that same year<\/a>. Even if you challenge yourself to make your own coffee for only one month, you\u2019d be saving a sweet hundo and still getting that caffeine hit you so desperately need. You may want to deposit the amount you\u2019d be saving on your speciality coffee straight into your savings! So if your favorite latte is $2.75, each time you make your own cup of joe, set that amount aside for the future.<\/p>\n\n\n\nNo Soda or Alcohol<\/strong><\/h3>\n\n\n\nMaybe coffee isn\u2019t your bag, but you order a beer every day after work. Or maybe neither of those things strike your fancy, but you always get a big old Coke for lunch. Challenge yourself to cut that particular beverage out of the budget for just one month. These things add up, and you may be surprised at how much you actually save. To keep motivated, download or draw out a chart like this one<\/a>.<\/p>\n\n\n\nNo New Clothes<\/strong><\/h3>\n\n\n\nThis challenge may be tough for folks who enjoy retail therapy, but it\u2019s actually designed for exactly this type of person. Most of us have more than enough clothes to keep us warm throughout the year, but we may feel inclined to spice up the wardrobe more than is really necessary. If this sounds like you, challenge yourself not to buy new garb for one whole year. You may want to check out how much you spent on your attire the previous year, divide by 12, and put that amount into savings each month.<\/p>\n\n\n\n
Switch Services<\/strong><\/h3>\n\n\n\nTalking to customer service reps is rarely fun, but this challenge could help you save for an indefinite period by doing a simple one-time chore. Call your mobile, electric, gas, internet, and cable providers to see if they can offer you a customer discount. Especially if you\u2019re a loyal, long-time customer, they may be able to shave some cost off your monthly bill. If they say no, call around to see if another provider can offer you those savings. <\/p>\n\n\n\n
Save Money at a Different Grocery Store<\/strong><\/h3>\n\n\n\nIf you find that your grocery bill seems inordinately large, try shopping at a discount grocery store<\/a>. Replicate your last shopping trip\u2019s receipt at this new store (making sure you\u2019re getting the same amount of each item), and compare prices. You may decide this is a change you want to make permanent.<\/p>\n\n\n\nHobby Swap<\/strong><\/h3>\n\n\n\nDo you have a pricey hobby? Golfing, rock climbing \u2014 even woodworking can get expensive. If you\u2019ve found yourself spending a pretty penny on your pastime, challenge yourself to pick up a less expensive \u2014 or even free \u2014 hobby for a month, setting aside your costly one. Things like hiking, journaling, drawing, and volunteering at an animal shelter can be incredibly fulfilling, but will keep your wallet from leaving your pocket too often (or at all).<\/p>\n\n\n\n
No Car<\/strong><\/h3>\n\n\n\nGas \u2014 especially when the political and economic climates turn against us \u2014 can be incredibly pricey. The No Car Challenge dares you to get around for at least one month with car alternatives: bike, train, bus, or even carpooling. If you do have to use your car, plan out your trips so that you get all your chores done in one fell swoop so that you\u2019re still using it minimally. This challenge is best for people who live in areas with good public transportation infrastructure.<\/p>\n\n\n\n
Extra Fun Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you feel like you need a tiny bit more motivation, try one of these challenges that’ll add a little extra oomph.<\/p>\n\n\n\n
Money Throwdown<\/strong><\/h3>\n\n\n\nSome people thrive on competition. If that\u2019s you, challenge a friend or family member to the Money Throwdown Challenge. You can decide on the rules together, but you might try to be the one to save $1,000 the fastest or alternatively, save the most in some set amount of time.<\/p>\n\n\n\n
Bowl Grab<\/strong><\/h3>\n\n\n\nThis is a fun one to do with your significant other, or potentially the whole family! Write out different cash denominations on slips of paper (i.e. $1, $5, $10, $20), and put 30 of them in a bowl. Take turns picking out a slip each day, and whatever dollar amount you get, you have to put that amount in savings. By the end, you\u2019ll have collectively saved around $282 in one month (if you put in roughly equal amounts of each denomination on the slips).<\/p>\n\n\n\n
Savings Fever<\/strong><\/h3>\n\n\n\nIf you\u2019re the creative type, you might enjoy creating a DIY Savings Fever chart. Draw a large thermometer on a posterboard, adding your savings goal on top and inserting smaller savings goals in intervals along the thermometer. As you save, fill in the thermometer with marker colors that go from cool, to warm, to hot, hot, hot!<\/p>\n\n\n\n
Monthly Money Challenge<\/strong><\/h3>\n\n\n\nFeeling ambitious? Try the Monthly Money Challenge! This one involves picking twelve \u2014 yes, twelve! \u2014 money saving challenges, and completing one per month. If you\u2019re worried you\u2019ll get bored by one full-year challenge, this puppy will help you avoid the drudgery with an ever-changing savings dynamic. You should have plenty to pick from on this very list!<\/p>\n\n\n\n
Vacation Saving Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you\u2019re specifically looking to save for a spectacular trip, try one of these money saving challenges!<\/p>\n\n\n\n
Straightforward<\/strong> <\/h3>\n\n\n\nOne year before your vacation, plan out how much you\u2019ll be spending on the entire trip. Divide by 12, and make sure you\u2019re setting aside that amount each month for your great adventure.<\/p>\n\n\n\n
8-Week<\/strong><\/h3>\n\n\n\n
If you\u2019re interested in saving a bit more, take on the nickel version of this challenge. Day one you\u2019ll save a single nickel, then $0.10, $0.15, up to $18.40 by the time you reach day 365. With the 365-Day Nickel Challenge, you\u2019ll have saved a whopping $3,339.75 by year\u2019s end.<\/p>\n\n\n\n
Paycheck and Salary-based Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nBasing your savings challenge on how much you\u2019re taking in each year \u2014 or simply following the same schedule as your paycheck \u2014 can sometimes help make things easier.<\/p>\n\n\n\n
26-Week Bi-Weekly <\/strong><\/h3>\n\n\n\nWith this challenge, you\u2019re following a similar pattern to the 52-Week Challenge, but instead you\u2019re setting your deposits on a bi-weekly schedule. Save a total of $1,053 by depositing in increasing increments of $3 ($3, $6, $9 \u2026 $26) or save $1,404 with increments of $4 ($4, $8, $12 \u2026 $104). Any increment you use will work!<\/p>\n\n\n\n
Twice Per Month<\/strong><\/h3>\n\n\n\nMaybe you actually get paid twice a month (50 paychecks a year). In this case, use this handy chart<\/a> to follow a similar increasing deposit pattern as one version of the 26-Week Bi-Weekly challenge that leaves you with $1,378 at the end of the year.<\/p>\n\n\n\nTrim 1% of Your Salary<\/strong><\/h3>\n\n\n\nWhile the name of this challenge might sound like a drag, in reality, you\u2019re actually giving yourself a 1% salary bonus! This challenge involves calculating 1% of your salary, looking at your budget, and then finding ways to save that amount by the end of the year.<\/p>\n\n\n\n
Let\u2019s say your salary is $45,000. 1% of that is $450, so you might limit your streaming subscriptions, start buying generic brands, find a cheaper mobile or internet plan \u2014 anything that would add up to that $450.<\/p>\n\n\n\n
Incidental Money Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nSome people enjoy a less structured, and more whimsical approach to things. If that\u2019s the case for you, one of these chance-driven money saving challenges might be just what the doctor ordered.<\/p>\n\n\n\n
$1 Bill<\/strong><\/h3>\n\n\n\nThis is a good one if you\u2019re on a tighter budget. Very simply, if you get a $1 bill in change, it goes towards savings! You can do this for any set amount of time \u2014 maybe you just try it for a couple of months. Or if you want a bigger stack of cash in the end, do it for a whole year. Just make sure you actually pay with cash frequently enough for this challenge to be worth it.\u00a0<\/p>\n\n\n\n
$5 Bill<\/strong><\/h3>\n\n\n\nYou guessed it! This is a variation on the $1 bill challenge using $5 bills instead.\u00a0<\/p>\n\n\n\n
Money Mistake<\/strong><\/h3>\n\n\n\nThe Money Mistake Challenge essentially acts as a failsafe for financial missteps. For the span of one year, if you do something silly like paying a bill late (inciting an extra fee) or making an impulse buy, you have to put the same amount you spent on the mistake into savings (or $5 if matching the expense is too much). This is a win-win! If you made some \u201cmistakes\u201d here and there, you\u2019ll have a nice sum on the side and an awareness of something you might want to address in the future. And if you didn\u2019t save anything, that means you were financially savvy!<\/p>\n\n\n\n
Tax Your Vices<\/strong><\/h3>\n\n\n\nThis one also does double-duty \u2014 incentivizes kicking bad habits and adds to your savings when and if you do indulge. Your \u201cvice\u201d could be anything you define as an unhealthy or unsavory habit. This could mean putting a dollar in a swear jar every time you let an expletive slip, or allocating a dollar to savings every time you buy an expensive coffee.<\/p>\n\n\n\n
Randomized Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nThese money saving challenges are similar to the \u201cincidental\u201d ones in the sense that they don\u2019t set a specific savings goal and they rely on some level of chance. However, with this group, it depends not on your behavior, but on true serendipity.<\/p>\n\n\n\n
Weather Wednesdays<\/strong><\/h3>\n\n\n\nA clever blogger<\/a> came up with this fortuitous challenge. For any given period, every Wednesday, you\u2019ll deposit an amount that matches the high temperature that day. If you live in a warm climate year-round, you could save upwards of $3,000 in a year! If you want to make this a short term challenge, pick a season appropriate for your means (winter for less income at your disposal, summer for more).<\/p>\n\n\n\nRoll the Dice<\/strong><\/h3>\n\n\n\nThe basic version of this money saving challenge is that you roll a die each day and tuck away the amount on the die in dollars. Probabilities being what they are, this challenge will help you save well over $1,000 in a year. Feel free to create variations where you roll two dice for more savings, or only roll once a week for a lower commitment. If you like the idea of an actual gameboard, pay $3 to download the colorful Stackopoly<\/a> game, another version of this fun challenge.\u00a0<\/p>\n\n\n\n100 Envelope Challenge<\/strong><\/h3>\n\n\n\nThis is a challenge for folks with a little more cash flow. You\u2019ll number a hundred envelopes from 1 to 100, mix them up, and pick one at random each day. Whatever number you get, you must either insert that amount of cash, or deposit that amount in savings. Just make sure if you are<\/em> using cash, to deposit it at least every month so that it\u2019s safe in the bank and accruing interest. In just over three months, you\u2019ll have saved an impressive $5,050. If every day is a tad much for you, you can also make this a twice weekly challenge. You\u2019ll have saved this amount just before a full year completes!\u00a0<\/p>\n\n\n\nShorter-term Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nMany of the money saving challenges we\u2019ve listed are designed to be completed over the span of a year. But there\u2019s nothing that says you can\u2019t adjust each challenge to be shorter-term! Alternatively, you can pick one of the challenges below that\u2019s designed to be finished in less time.<\/p>\n\n\n\n
6-Month<\/strong><\/h3>\n\n\n\nThis challenge will have you saving $1,378 in half a year! In your first week, save $3, then go up by increments of $4. Your last deposit will be $103. Or if you like, start with $103, and decrease the amount each week!<\/p>\n\n\n\n
3-Month<\/strong><\/h3>\n\n\n\nThis low-commitment challenge simply requires an $84 deposit each week. Seems easy, but you\u2019ll be up $1,000 by the time the three months are up.<\/p>\n\n\n\n
12-Week<\/strong><\/h3>\n\n\n\nThis challenge is similar to the previous 3-Month one, but keeps things dynamic with an increasing deposit amount. Start with $10, and increase by another $10 each week. Your final deposit will end at $120, and you\u2019ll have saved $780 by the end.<\/p>\n\n\n\n
Pantry<\/strong><\/h3>\n\n\n\nYou likely already have untapped value right in your kitchen! Challenge yourself to \u201cclean out\u201d your pantry, fridge, and freezer by consuming everything in there before eating out or doing another major grocery shop. You might allow yourself to buy a couple things like fresh produce and protein to round out the meals, but it\u2019s possible you already have those things frozen.\u00a0<\/p>\n\n\n\n
33.3<\/strong> <\/h3>\n\n\n\nGeared towards folks with a bit more disposable income, the 33.3 Challenge lasts only a month and offers a hefty $999.90 as its final savings tally. Just deposit $33.33 every day. That\u2019s it. And if you decide to do a month with 31 days, you\u2019ll sail past the thousand dollar line to reach $1,032.30.<\/p>\n\n\n\n
30-Day Meal Plan<\/strong><\/h3>\n\n\n\nFor 30 days, build your diet around meals that you or your significant other prepare yourselves. Not only will you save by not eating out (an expensive habit), your grocery bill will go down because to some degree, you\u2019re buying in bulk (i.e. a whole chicken for multiple meals), and potentially freezing a lot of expirable ingredients. Try these ideas<\/a> for more grocery savings.<\/p>\n\n\n\nCash Only For a Month<\/strong><\/h3>\n\n\n\nThis one’s just what it sounds like \u2014 you\u2019ll only use cash for a month. Psychologically, using cash to pay for things makes you a lot more aware of how much you\u2019re spending. Paying with a card does the opposite by allowing you to hand the piece of plastic over and hardly look at the actual charge. Try this challenge to not only save, but give yourself some good financial awareness.<\/p>\n\n\n\n
31 Days to Improve Your Financial Life<\/strong><\/h3>\n\n\n\nIf you\u2019re game for a real month-long project that\u2019ll turn your financial life around for the better, take on this little diddy. Specially designed by personal finance blogger Phillip Taylor, the 31 Days to Improve Your Finance Life Challenge<\/a> will have you doing daily activities like adjusting your 401(k), figuring out what assets you have, and reducing your interest rates. This one is a real game changer.<\/p>\n\n\n\nLight-lifting Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nDon\u2019t have much time on your hands? Try one of these money saving challenges for which you\u2019ll hardly have to lift a finger.<\/p>\n\n\n\n
Round Up<\/strong><\/h3>\n\n\n\nMany banks have a new option that allows you to round up to the nearest dollar on your purchases, with the \u201cremainder\u201d amount going straight into savings. For example, if you purchased a coffee for $3.12, your credit card would be charged $4 \u2014 $3.12 for the coffee and $0.88 towards savings. If your bank doesn\u2019t offer this, apps like Acorns<\/a> will take care of it for you!<\/p>\n\n\n\nDollar<\/strong><\/h3>\n\n\n\nThe Dollar Challenge only requires you to save one single solitary dollar each day. Deposit it, or put it in a hidden jar \u2014 wherever you feel the money is safest. This\u2019ll net you $365 by the end of the year \u2014 not a huge windfall, but you\u2019ll have built a great savings habit. And hey, $365 is not nothing after all!<\/p>\n\n\n\n
1%<\/strong><\/h3>\n\n\n\nSimple. Up your 401(k) contribution by 1%. In two months, raise it again by another 1%. If you want to save for the more immediate future, just replicate this outside of a 401(k): set up an automatic transfer of 1% of your gross income into a special savings account each time you get paid.<\/p>\n\n\n\n
Paring Back Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you feel like there are places you could afford to cut back on spending but you don\u2019t know where to start, take a whack at one of these babies.<\/p>\n\n\n\n
Kick a Bad Habit<\/strong><\/h3>\n\n\n\nHave a \u201cbad\u201d habit you wish you could leave behind? Smoking, drinking soda, buying expensive coffee, or the like? Well maybe instead of saying you\u2019ll never have a single expensive coffee ever again, challenge yourself to set these purchases aside for just a month. It\u2019ll feel a heck of a lot more achievable, and you\u2019ll be saving whatever you would have spent on the expense. And who knows! By the time you hit the end of the month, you may not feel the need for that thing anymore.<\/p>\n\n\n\n
Expense Tracking<\/strong><\/h3>\n\n\n\nMore than a concrete savings goal, this challenge targets an awareness of where all your expenses are going. You\u2019ll pick a period (1-3 months) during which you\u2019ll track all your expenses and categorize them. You can use paper and pen or an app like Mint<\/a>. Essentially, you\u2019re looking for places where you might be able to cut down on superficial or extraneous purchases.\u00a0<\/p>\n\n\n\nNo Spend<\/strong><\/h3>\n\n\n\nIt\u2019s really up to you how long you take this challenge on for. It can be one day, one day each week, or a whole month. The idea here is to cut out discretionary spending for the period you land on. You may still have to pay for transit and other basic needs, but when it comes to extra snacks, clothes, or anything else that isn\u2019t totally necessary, you\u2019ll let those things go. If you like, you can make a note of each point where you neglect to make a purchase you wouldn\u2019t have otherwise, and put that money directly into savings. As an extra bonus, you may even end up enjoying the creative problem-solving you\u2019ll have to do during these times!<\/p>\n\n\n\n
No Eating Out<\/strong><\/h3>\n\n\n\nAccording to the Bureau of Labor Statistics, the average American household spends $2,375 eating out in a single year<\/a>. If you or your family are the types to forego a home-cooked meal for takeout, delivery, or a dine-in experience, you could really save a lot of money by taking on the No Eating Out Challenge. Very simply, give up restaurant and takeout food for 30 days. You\u2019ll be gobsmacked at the amount you save just by preparing your own food.<\/p>\n\n\n\nCancellation<\/strong><\/h3>\n\n\n\nHow many subscriptions do you currently have? If you\u2019re not sure, it may be time to take on the Cancellation Challenge. It\u2019s all about itemizing your subscriptions (streaming services, monthly app charges, etc.), and cancelling as many as you can. <\/p>\n\n\n\n
\n<\/div>\n\n\n\n\n<\/figure><\/div>\n<\/div>\n\n\n\n\nPRO TIP:<\/strong>
If you\u2019re a streaming junky, try just subscribing to one content subscription at a time. Once you\u2019ve blazed through the Hulu shows that appeal to you, cancel that and join Netflix!<\/p>\n<\/div>\n<\/div>\n\n\n\nCoffee Break<\/strong><\/h3>\n\n\n\nDo you buy a coffee every day from Starbucks or another pricey coffee shop? Business Insider calculated that someone who buys a single $5 coffee daily spends $1,200 a year, while brewing at home would cost $45 in that same year<\/a>. Even if you challenge yourself to make your own coffee for only one month, you\u2019d be saving a sweet hundo and still getting that caffeine hit you so desperately need. You may want to deposit the amount you\u2019d be saving on your speciality coffee straight into your savings! So if your favorite latte is $2.75, each time you make your own cup of joe, set that amount aside for the future.<\/p>\n\n\n\nNo Soda or Alcohol<\/strong><\/h3>\n\n\n\nMaybe coffee isn\u2019t your bag, but you order a beer every day after work. Or maybe neither of those things strike your fancy, but you always get a big old Coke for lunch. Challenge yourself to cut that particular beverage out of the budget for just one month. These things add up, and you may be surprised at how much you actually save. To keep motivated, download or draw out a chart like this one<\/a>.<\/p>\n\n\n\nNo New Clothes<\/strong><\/h3>\n\n\n\nThis challenge may be tough for folks who enjoy retail therapy, but it\u2019s actually designed for exactly this type of person. Most of us have more than enough clothes to keep us warm throughout the year, but we may feel inclined to spice up the wardrobe more than is really necessary. If this sounds like you, challenge yourself not to buy new garb for one whole year. You may want to check out how much you spent on your attire the previous year, divide by 12, and put that amount into savings each month.<\/p>\n\n\n\n
Switch Services<\/strong><\/h3>\n\n\n\nTalking to customer service reps is rarely fun, but this challenge could help you save for an indefinite period by doing a simple one-time chore. Call your mobile, electric, gas, internet, and cable providers to see if they can offer you a customer discount. Especially if you\u2019re a loyal, long-time customer, they may be able to shave some cost off your monthly bill. If they say no, call around to see if another provider can offer you those savings. <\/p>\n\n\n\n
Save Money at a Different Grocery Store<\/strong><\/h3>\n\n\n\nIf you find that your grocery bill seems inordinately large, try shopping at a discount grocery store<\/a>. Replicate your last shopping trip\u2019s receipt at this new store (making sure you\u2019re getting the same amount of each item), and compare prices. You may decide this is a change you want to make permanent.<\/p>\n\n\n\nHobby Swap<\/strong><\/h3>\n\n\n\nDo you have a pricey hobby? Golfing, rock climbing \u2014 even woodworking can get expensive. If you\u2019ve found yourself spending a pretty penny on your pastime, challenge yourself to pick up a less expensive \u2014 or even free \u2014 hobby for a month, setting aside your costly one. Things like hiking, journaling, drawing, and volunteering at an animal shelter can be incredibly fulfilling, but will keep your wallet from leaving your pocket too often (or at all).<\/p>\n\n\n\n
No Car<\/strong><\/h3>\n\n\n\nGas \u2014 especially when the political and economic climates turn against us \u2014 can be incredibly pricey. The No Car Challenge dares you to get around for at least one month with car alternatives: bike, train, bus, or even carpooling. If you do have to use your car, plan out your trips so that you get all your chores done in one fell swoop so that you\u2019re still using it minimally. This challenge is best for people who live in areas with good public transportation infrastructure.<\/p>\n\n\n\n
Extra Fun Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you feel like you need a tiny bit more motivation, try one of these challenges that’ll add a little extra oomph.<\/p>\n\n\n\n
Money Throwdown<\/strong><\/h3>\n\n\n\nSome people thrive on competition. If that\u2019s you, challenge a friend or family member to the Money Throwdown Challenge. You can decide on the rules together, but you might try to be the one to save $1,000 the fastest or alternatively, save the most in some set amount of time.<\/p>\n\n\n\n
Bowl Grab<\/strong><\/h3>\n\n\n\nThis is a fun one to do with your significant other, or potentially the whole family! Write out different cash denominations on slips of paper (i.e. $1, $5, $10, $20), and put 30 of them in a bowl. Take turns picking out a slip each day, and whatever dollar amount you get, you have to put that amount in savings. By the end, you\u2019ll have collectively saved around $282 in one month (if you put in roughly equal amounts of each denomination on the slips).<\/p>\n\n\n\n
Savings Fever<\/strong><\/h3>\n\n\n\nIf you\u2019re the creative type, you might enjoy creating a DIY Savings Fever chart. Draw a large thermometer on a posterboard, adding your savings goal on top and inserting smaller savings goals in intervals along the thermometer. As you save, fill in the thermometer with marker colors that go from cool, to warm, to hot, hot, hot!<\/p>\n\n\n\n
Monthly Money Challenge<\/strong><\/h3>\n\n\n\nFeeling ambitious? Try the Monthly Money Challenge! This one involves picking twelve \u2014 yes, twelve! \u2014 money saving challenges, and completing one per month. If you\u2019re worried you\u2019ll get bored by one full-year challenge, this puppy will help you avoid the drudgery with an ever-changing savings dynamic. You should have plenty to pick from on this very list!<\/p>\n\n\n\n
Vacation Saving Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you\u2019re specifically looking to save for a spectacular trip, try one of these money saving challenges!<\/p>\n\n\n\n
Straightforward<\/strong> <\/h3>\n\n\n\nOne year before your vacation, plan out how much you\u2019ll be spending on the entire trip. Divide by 12, and make sure you\u2019re setting aside that amount each month for your great adventure.<\/p>\n\n\n\n
8-Week<\/strong><\/h3>\n\n\n\n
<\/figure>\n\n\n\nBasing your savings challenge on how much you\u2019re taking in each year \u2014 or simply following the same schedule as your paycheck \u2014 can sometimes help make things easier.<\/p>\n\n\n\n
26-Week Bi-Weekly <\/strong><\/h3>\n\n\n\nWith this challenge, you\u2019re following a similar pattern to the 52-Week Challenge, but instead you\u2019re setting your deposits on a bi-weekly schedule. Save a total of $1,053 by depositing in increasing increments of $3 ($3, $6, $9 \u2026 $26) or save $1,404 with increments of $4 ($4, $8, $12 \u2026 $104). Any increment you use will work!<\/p>\n\n\n\n
Twice Per Month<\/strong><\/h3>\n\n\n\nMaybe you actually get paid twice a month (50 paychecks a year). In this case, use this handy chart<\/a> to follow a similar increasing deposit pattern as one version of the 26-Week Bi-Weekly challenge that leaves you with $1,378 at the end of the year.<\/p>\n\n\n\nTrim 1% of Your Salary<\/strong><\/h3>\n\n\n\nWhile the name of this challenge might sound like a drag, in reality, you\u2019re actually giving yourself a 1% salary bonus! This challenge involves calculating 1% of your salary, looking at your budget, and then finding ways to save that amount by the end of the year.<\/p>\n\n\n\n
Let\u2019s say your salary is $45,000. 1% of that is $450, so you might limit your streaming subscriptions, start buying generic brands, find a cheaper mobile or internet plan \u2014 anything that would add up to that $450.<\/p>\n\n\n\n
Incidental Money Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nSome people enjoy a less structured, and more whimsical approach to things. If that\u2019s the case for you, one of these chance-driven money saving challenges might be just what the doctor ordered.<\/p>\n\n\n\n
$1 Bill<\/strong><\/h3>\n\n\n\nThis is a good one if you\u2019re on a tighter budget. Very simply, if you get a $1 bill in change, it goes towards savings! You can do this for any set amount of time \u2014 maybe you just try it for a couple of months. Or if you want a bigger stack of cash in the end, do it for a whole year. Just make sure you actually pay with cash frequently enough for this challenge to be worth it.\u00a0<\/p>\n\n\n\n
$5 Bill<\/strong><\/h3>\n\n\n\nYou guessed it! This is a variation on the $1 bill challenge using $5 bills instead.\u00a0<\/p>\n\n\n\n
Money Mistake<\/strong><\/h3>\n\n\n\nThe Money Mistake Challenge essentially acts as a failsafe for financial missteps. For the span of one year, if you do something silly like paying a bill late (inciting an extra fee) or making an impulse buy, you have to put the same amount you spent on the mistake into savings (or $5 if matching the expense is too much). This is a win-win! If you made some \u201cmistakes\u201d here and there, you\u2019ll have a nice sum on the side and an awareness of something you might want to address in the future. And if you didn\u2019t save anything, that means you were financially savvy!<\/p>\n\n\n\n
Tax Your Vices<\/strong><\/h3>\n\n\n\nThis one also does double-duty \u2014 incentivizes kicking bad habits and adds to your savings when and if you do indulge. Your \u201cvice\u201d could be anything you define as an unhealthy or unsavory habit. This could mean putting a dollar in a swear jar every time you let an expletive slip, or allocating a dollar to savings every time you buy an expensive coffee.<\/p>\n\n\n\n
Randomized Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nThese money saving challenges are similar to the \u201cincidental\u201d ones in the sense that they don\u2019t set a specific savings goal and they rely on some level of chance. However, with this group, it depends not on your behavior, but on true serendipity.<\/p>\n\n\n\n
Weather Wednesdays<\/strong><\/h3>\n\n\n\nA clever blogger<\/a> came up with this fortuitous challenge. For any given period, every Wednesday, you\u2019ll deposit an amount that matches the high temperature that day. If you live in a warm climate year-round, you could save upwards of $3,000 in a year! If you want to make this a short term challenge, pick a season appropriate for your means (winter for less income at your disposal, summer for more).<\/p>\n\n\n\nRoll the Dice<\/strong><\/h3>\n\n\n\nThe basic version of this money saving challenge is that you roll a die each day and tuck away the amount on the die in dollars. Probabilities being what they are, this challenge will help you save well over $1,000 in a year. Feel free to create variations where you roll two dice for more savings, or only roll once a week for a lower commitment. If you like the idea of an actual gameboard, pay $3 to download the colorful Stackopoly<\/a> game, another version of this fun challenge.\u00a0<\/p>\n\n\n\n100 Envelope Challenge<\/strong><\/h3>\n\n\n\nThis is a challenge for folks with a little more cash flow. You\u2019ll number a hundred envelopes from 1 to 100, mix them up, and pick one at random each day. Whatever number you get, you must either insert that amount of cash, or deposit that amount in savings. Just make sure if you are<\/em> using cash, to deposit it at least every month so that it\u2019s safe in the bank and accruing interest. In just over three months, you\u2019ll have saved an impressive $5,050. If every day is a tad much for you, you can also make this a twice weekly challenge. You\u2019ll have saved this amount just before a full year completes!\u00a0<\/p>\n\n\n\nShorter-term Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nMany of the money saving challenges we\u2019ve listed are designed to be completed over the span of a year. But there\u2019s nothing that says you can\u2019t adjust each challenge to be shorter-term! Alternatively, you can pick one of the challenges below that\u2019s designed to be finished in less time.<\/p>\n\n\n\n
6-Month<\/strong><\/h3>\n\n\n\nThis challenge will have you saving $1,378 in half a year! In your first week, save $3, then go up by increments of $4. Your last deposit will be $103. Or if you like, start with $103, and decrease the amount each week!<\/p>\n\n\n\n
3-Month<\/strong><\/h3>\n\n\n\nThis low-commitment challenge simply requires an $84 deposit each week. Seems easy, but you\u2019ll be up $1,000 by the time the three months are up.<\/p>\n\n\n\n
12-Week<\/strong><\/h3>\n\n\n\nThis challenge is similar to the previous 3-Month one, but keeps things dynamic with an increasing deposit amount. Start with $10, and increase by another $10 each week. Your final deposit will end at $120, and you\u2019ll have saved $780 by the end.<\/p>\n\n\n\n
Pantry<\/strong><\/h3>\n\n\n\nYou likely already have untapped value right in your kitchen! Challenge yourself to \u201cclean out\u201d your pantry, fridge, and freezer by consuming everything in there before eating out or doing another major grocery shop. You might allow yourself to buy a couple things like fresh produce and protein to round out the meals, but it\u2019s possible you already have those things frozen.\u00a0<\/p>\n\n\n\n
33.3<\/strong> <\/h3>\n\n\n\nGeared towards folks with a bit more disposable income, the 33.3 Challenge lasts only a month and offers a hefty $999.90 as its final savings tally. Just deposit $33.33 every day. That\u2019s it. And if you decide to do a month with 31 days, you\u2019ll sail past the thousand dollar line to reach $1,032.30.<\/p>\n\n\n\n
30-Day Meal Plan<\/strong><\/h3>\n\n\n\nFor 30 days, build your diet around meals that you or your significant other prepare yourselves. Not only will you save by not eating out (an expensive habit), your grocery bill will go down because to some degree, you\u2019re buying in bulk (i.e. a whole chicken for multiple meals), and potentially freezing a lot of expirable ingredients. Try these ideas<\/a> for more grocery savings.<\/p>\n\n\n\nCash Only For a Month<\/strong><\/h3>\n\n\n\nThis one’s just what it sounds like \u2014 you\u2019ll only use cash for a month. Psychologically, using cash to pay for things makes you a lot more aware of how much you\u2019re spending. Paying with a card does the opposite by allowing you to hand the piece of plastic over and hardly look at the actual charge. Try this challenge to not only save, but give yourself some good financial awareness.<\/p>\n\n\n\n
31 Days to Improve Your Financial Life<\/strong><\/h3>\n\n\n\nIf you\u2019re game for a real month-long project that\u2019ll turn your financial life around for the better, take on this little diddy. Specially designed by personal finance blogger Phillip Taylor, the 31 Days to Improve Your Finance Life Challenge<\/a> will have you doing daily activities like adjusting your 401(k), figuring out what assets you have, and reducing your interest rates. This one is a real game changer.<\/p>\n\n\n\nLight-lifting Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nDon\u2019t have much time on your hands? Try one of these money saving challenges for which you\u2019ll hardly have to lift a finger.<\/p>\n\n\n\n
Round Up<\/strong><\/h3>\n\n\n\nMany banks have a new option that allows you to round up to the nearest dollar on your purchases, with the \u201cremainder\u201d amount going straight into savings. For example, if you purchased a coffee for $3.12, your credit card would be charged $4 \u2014 $3.12 for the coffee and $0.88 towards savings. If your bank doesn\u2019t offer this, apps like Acorns<\/a> will take care of it for you!<\/p>\n\n\n\nDollar<\/strong><\/h3>\n\n\n\nThe Dollar Challenge only requires you to save one single solitary dollar each day. Deposit it, or put it in a hidden jar \u2014 wherever you feel the money is safest. This\u2019ll net you $365 by the end of the year \u2014 not a huge windfall, but you\u2019ll have built a great savings habit. And hey, $365 is not nothing after all!<\/p>\n\n\n\n
1%<\/strong><\/h3>\n\n\n\nSimple. Up your 401(k) contribution by 1%. In two months, raise it again by another 1%. If you want to save for the more immediate future, just replicate this outside of a 401(k): set up an automatic transfer of 1% of your gross income into a special savings account each time you get paid.<\/p>\n\n\n\n
Paring Back Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you feel like there are places you could afford to cut back on spending but you don\u2019t know where to start, take a whack at one of these babies.<\/p>\n\n\n\n
Kick a Bad Habit<\/strong><\/h3>\n\n\n\nHave a \u201cbad\u201d habit you wish you could leave behind? Smoking, drinking soda, buying expensive coffee, or the like? Well maybe instead of saying you\u2019ll never have a single expensive coffee ever again, challenge yourself to set these purchases aside for just a month. It\u2019ll feel a heck of a lot more achievable, and you\u2019ll be saving whatever you would have spent on the expense. And who knows! By the time you hit the end of the month, you may not feel the need for that thing anymore.<\/p>\n\n\n\n
Expense Tracking<\/strong><\/h3>\n\n\n\nMore than a concrete savings goal, this challenge targets an awareness of where all your expenses are going. You\u2019ll pick a period (1-3 months) during which you\u2019ll track all your expenses and categorize them. You can use paper and pen or an app like Mint<\/a>. Essentially, you\u2019re looking for places where you might be able to cut down on superficial or extraneous purchases.\u00a0<\/p>\n\n\n\nNo Spend<\/strong><\/h3>\n\n\n\nIt\u2019s really up to you how long you take this challenge on for. It can be one day, one day each week, or a whole month. The idea here is to cut out discretionary spending for the period you land on. You may still have to pay for transit and other basic needs, but when it comes to extra snacks, clothes, or anything else that isn\u2019t totally necessary, you\u2019ll let those things go. If you like, you can make a note of each point where you neglect to make a purchase you wouldn\u2019t have otherwise, and put that money directly into savings. As an extra bonus, you may even end up enjoying the creative problem-solving you\u2019ll have to do during these times!<\/p>\n\n\n\n
No Eating Out<\/strong><\/h3>\n\n\n\nAccording to the Bureau of Labor Statistics, the average American household spends $2,375 eating out in a single year<\/a>. If you or your family are the types to forego a home-cooked meal for takeout, delivery, or a dine-in experience, you could really save a lot of money by taking on the No Eating Out Challenge. Very simply, give up restaurant and takeout food for 30 days. You\u2019ll be gobsmacked at the amount you save just by preparing your own food.<\/p>\n\n\n\nCancellation<\/strong><\/h3>\n\n\n\nHow many subscriptions do you currently have? If you\u2019re not sure, it may be time to take on the Cancellation Challenge. It\u2019s all about itemizing your subscriptions (streaming services, monthly app charges, etc.), and cancelling as many as you can. <\/p>\n\n\n\n
\n<\/div>\n\n\n\n\n<\/figure><\/div>\n<\/div>\n\n\n\n\nPRO TIP:<\/strong>
If you\u2019re a streaming junky, try just subscribing to one content subscription at a time. Once you\u2019ve blazed through the Hulu shows that appeal to you, cancel that and join Netflix!<\/p>\n<\/div>\n<\/div>\n\n\n\nCoffee Break<\/strong><\/h3>\n\n\n\nDo you buy a coffee every day from Starbucks or another pricey coffee shop? Business Insider calculated that someone who buys a single $5 coffee daily spends $1,200 a year, while brewing at home would cost $45 in that same year<\/a>. Even if you challenge yourself to make your own coffee for only one month, you\u2019d be saving a sweet hundo and still getting that caffeine hit you so desperately need. You may want to deposit the amount you\u2019d be saving on your speciality coffee straight into your savings! So if your favorite latte is $2.75, each time you make your own cup of joe, set that amount aside for the future.<\/p>\n\n\n\nNo Soda or Alcohol<\/strong><\/h3>\n\n\n\nMaybe coffee isn\u2019t your bag, but you order a beer every day after work. Or maybe neither of those things strike your fancy, but you always get a big old Coke for lunch. Challenge yourself to cut that particular beverage out of the budget for just one month. These things add up, and you may be surprised at how much you actually save. To keep motivated, download or draw out a chart like this one<\/a>.<\/p>\n\n\n\nNo New Clothes<\/strong><\/h3>\n\n\n\nThis challenge may be tough for folks who enjoy retail therapy, but it\u2019s actually designed for exactly this type of person. Most of us have more than enough clothes to keep us warm throughout the year, but we may feel inclined to spice up the wardrobe more than is really necessary. If this sounds like you, challenge yourself not to buy new garb for one whole year. You may want to check out how much you spent on your attire the previous year, divide by 12, and put that amount into savings each month.<\/p>\n\n\n\n
Switch Services<\/strong><\/h3>\n\n\n\nTalking to customer service reps is rarely fun, but this challenge could help you save for an indefinite period by doing a simple one-time chore. Call your mobile, electric, gas, internet, and cable providers to see if they can offer you a customer discount. Especially if you\u2019re a loyal, long-time customer, they may be able to shave some cost off your monthly bill. If they say no, call around to see if another provider can offer you those savings. <\/p>\n\n\n\n
Save Money at a Different Grocery Store<\/strong><\/h3>\n\n\n\nIf you find that your grocery bill seems inordinately large, try shopping at a discount grocery store<\/a>. Replicate your last shopping trip\u2019s receipt at this new store (making sure you\u2019re getting the same amount of each item), and compare prices. You may decide this is a change you want to make permanent.<\/p>\n\n\n\nHobby Swap<\/strong><\/h3>\n\n\n\nDo you have a pricey hobby? Golfing, rock climbing \u2014 even woodworking can get expensive. If you\u2019ve found yourself spending a pretty penny on your pastime, challenge yourself to pick up a less expensive \u2014 or even free \u2014 hobby for a month, setting aside your costly one. Things like hiking, journaling, drawing, and volunteering at an animal shelter can be incredibly fulfilling, but will keep your wallet from leaving your pocket too often (or at all).<\/p>\n\n\n\n
No Car<\/strong><\/h3>\n\n\n\nGas \u2014 especially when the political and economic climates turn against us \u2014 can be incredibly pricey. The No Car Challenge dares you to get around for at least one month with car alternatives: bike, train, bus, or even carpooling. If you do have to use your car, plan out your trips so that you get all your chores done in one fell swoop so that you\u2019re still using it minimally. This challenge is best for people who live in areas with good public transportation infrastructure.<\/p>\n\n\n\n
Extra Fun Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you feel like you need a tiny bit more motivation, try one of these challenges that’ll add a little extra oomph.<\/p>\n\n\n\n
Money Throwdown<\/strong><\/h3>\n\n\n\nSome people thrive on competition. If that\u2019s you, challenge a friend or family member to the Money Throwdown Challenge. You can decide on the rules together, but you might try to be the one to save $1,000 the fastest or alternatively, save the most in some set amount of time.<\/p>\n\n\n\n
Bowl Grab<\/strong><\/h3>\n\n\n\nThis is a fun one to do with your significant other, or potentially the whole family! Write out different cash denominations on slips of paper (i.e. $1, $5, $10, $20), and put 30 of them in a bowl. Take turns picking out a slip each day, and whatever dollar amount you get, you have to put that amount in savings. By the end, you\u2019ll have collectively saved around $282 in one month (if you put in roughly equal amounts of each denomination on the slips).<\/p>\n\n\n\n
Savings Fever<\/strong><\/h3>\n\n\n\nIf you\u2019re the creative type, you might enjoy creating a DIY Savings Fever chart. Draw a large thermometer on a posterboard, adding your savings goal on top and inserting smaller savings goals in intervals along the thermometer. As you save, fill in the thermometer with marker colors that go from cool, to warm, to hot, hot, hot!<\/p>\n\n\n\n
Monthly Money Challenge<\/strong><\/h3>\n\n\n\nFeeling ambitious? Try the Monthly Money Challenge! This one involves picking twelve \u2014 yes, twelve! \u2014 money saving challenges, and completing one per month. If you\u2019re worried you\u2019ll get bored by one full-year challenge, this puppy will help you avoid the drudgery with an ever-changing savings dynamic. You should have plenty to pick from on this very list!<\/p>\n\n\n\n
Vacation Saving Challenges<\/h2>\n\n\n\n<\/figure>\n\n\n\nIf you\u2019re specifically looking to save for a spectacular trip, try one of these money saving challenges!<\/p>\n\n\n\n
Straightforward<\/strong> <\/h3>\n\n\n\nOne year before your vacation, plan out how much you\u2019ll be spending on the entire trip. Divide by 12, and make sure you\u2019re setting aside that amount each month for your great adventure.<\/p>\n\n\n\n
8-Week<\/strong><\/h3>\n\n\n\n
Maybe you actually get paid twice a month (50 paychecks a year). In this case, use this handy chart<\/a> to follow a similar increasing deposit pattern as one version of the 26-Week Bi-Weekly challenge that leaves you with $1,378 at the end of the year.<\/p>\n\n\n\n While the name of this challenge might sound like a drag, in reality, you\u2019re actually giving yourself a 1% salary bonus! This challenge involves calculating 1% of your salary, looking at your budget, and then finding ways to save that amount by the end of the year.<\/p>\n\n\n\n Let\u2019s say your salary is $45,000. 1% of that is $450, so you might limit your streaming subscriptions, start buying generic brands, find a cheaper mobile or internet plan \u2014 anything that would add up to that $450.<\/p>\n\n\n\n Some people enjoy a less structured, and more whimsical approach to things. If that\u2019s the case for you, one of these chance-driven money saving challenges might be just what the doctor ordered.<\/p>\n\n\n\n This is a good one if you\u2019re on a tighter budget. Very simply, if you get a $1 bill in change, it goes towards savings! You can do this for any set amount of time \u2014 maybe you just try it for a couple of months. Or if you want a bigger stack of cash in the end, do it for a whole year. Just make sure you actually pay with cash frequently enough for this challenge to be worth it.\u00a0<\/p>\n\n\n\n You guessed it! This is a variation on the $1 bill challenge using $5 bills instead.\u00a0<\/p>\n\n\n\n The Money Mistake Challenge essentially acts as a failsafe for financial missteps. For the span of one year, if you do something silly like paying a bill late (inciting an extra fee) or making an impulse buy, you have to put the same amount you spent on the mistake into savings (or $5 if matching the expense is too much). This is a win-win! If you made some \u201cmistakes\u201d here and there, you\u2019ll have a nice sum on the side and an awareness of something you might want to address in the future. And if you didn\u2019t save anything, that means you were financially savvy!<\/p>\n\n\n\n This one also does double-duty \u2014 incentivizes kicking bad habits and adds to your savings when and if you do indulge. Your \u201cvice\u201d could be anything you define as an unhealthy or unsavory habit. This could mean putting a dollar in a swear jar every time you let an expletive slip, or allocating a dollar to savings every time you buy an expensive coffee.<\/p>\n\n\n\n These money saving challenges are similar to the \u201cincidental\u201d ones in the sense that they don\u2019t set a specific savings goal and they rely on some level of chance. However, with this group, it depends not on your behavior, but on true serendipity.<\/p>\n\n\n\n A clever blogger<\/a> came up with this fortuitous challenge. For any given period, every Wednesday, you\u2019ll deposit an amount that matches the high temperature that day. If you live in a warm climate year-round, you could save upwards of $3,000 in a year! If you want to make this a short term challenge, pick a season appropriate for your means (winter for less income at your disposal, summer for more).<\/p>\n\n\n\n The basic version of this money saving challenge is that you roll a die each day and tuck away the amount on the die in dollars. Probabilities being what they are, this challenge will help you save well over $1,000 in a year. Feel free to create variations where you roll two dice for more savings, or only roll once a week for a lower commitment. If you like the idea of an actual gameboard, pay $3 to download the colorful Stackopoly<\/a> game, another version of this fun challenge.\u00a0<\/p>\n\n\n\n This is a challenge for folks with a little more cash flow. You\u2019ll number a hundred envelopes from 1 to 100, mix them up, and pick one at random each day. Whatever number you get, you must either insert that amount of cash, or deposit that amount in savings. Just make sure if you are<\/em> using cash, to deposit it at least every month so that it\u2019s safe in the bank and accruing interest. In just over three months, you\u2019ll have saved an impressive $5,050. If every day is a tad much for you, you can also make this a twice weekly challenge. You\u2019ll have saved this amount just before a full year completes!\u00a0<\/p>\n\n\n\n Many of the money saving challenges we\u2019ve listed are designed to be completed over the span of a year. But there\u2019s nothing that says you can\u2019t adjust each challenge to be shorter-term! Alternatively, you can pick one of the challenges below that\u2019s designed to be finished in less time.<\/p>\n\n\n\n This challenge will have you saving $1,378 in half a year! In your first week, save $3, then go up by increments of $4. Your last deposit will be $103. Or if you like, start with $103, and decrease the amount each week!<\/p>\n\n\n\n This low-commitment challenge simply requires an $84 deposit each week. Seems easy, but you\u2019ll be up $1,000 by the time the three months are up.<\/p>\n\n\n\n This challenge is similar to the previous 3-Month one, but keeps things dynamic with an increasing deposit amount. Start with $10, and increase by another $10 each week. Your final deposit will end at $120, and you\u2019ll have saved $780 by the end.<\/p>\n\n\n\n You likely already have untapped value right in your kitchen! Challenge yourself to \u201cclean out\u201d your pantry, fridge, and freezer by consuming everything in there before eating out or doing another major grocery shop. You might allow yourself to buy a couple things like fresh produce and protein to round out the meals, but it\u2019s possible you already have those things frozen.\u00a0<\/p>\n\n\n\n Geared towards folks with a bit more disposable income, the 33.3 Challenge lasts only a month and offers a hefty $999.90 as its final savings tally. Just deposit $33.33 every day. That\u2019s it. And if you decide to do a month with 31 days, you\u2019ll sail past the thousand dollar line to reach $1,032.30.<\/p>\n\n\n\n For 30 days, build your diet around meals that you or your significant other prepare yourselves. Not only will you save by not eating out (an expensive habit), your grocery bill will go down because to some degree, you\u2019re buying in bulk (i.e. a whole chicken for multiple meals), and potentially freezing a lot of expirable ingredients. Try these ideas<\/a> for more grocery savings.<\/p>\n\n\n\n This one’s just what it sounds like \u2014 you\u2019ll only use cash for a month. Psychologically, using cash to pay for things makes you a lot more aware of how much you\u2019re spending. Paying with a card does the opposite by allowing you to hand the piece of plastic over and hardly look at the actual charge. Try this challenge to not only save, but give yourself some good financial awareness.<\/p>\n\n\n\n If you\u2019re game for a real month-long project that\u2019ll turn your financial life around for the better, take on this little diddy. Specially designed by personal finance blogger Phillip Taylor, the 31 Days to Improve Your Finance Life Challenge<\/a> will have you doing daily activities like adjusting your 401(k), figuring out what assets you have, and reducing your interest rates. This one is a real game changer.<\/p>\n\n\n\n Don\u2019t have much time on your hands? Try one of these money saving challenges for which you\u2019ll hardly have to lift a finger.<\/p>\n\n\n\n Many banks have a new option that allows you to round up to the nearest dollar on your purchases, with the \u201cremainder\u201d amount going straight into savings. For example, if you purchased a coffee for $3.12, your credit card would be charged $4 \u2014 $3.12 for the coffee and $0.88 towards savings. If your bank doesn\u2019t offer this, apps like Acorns<\/a> will take care of it for you!<\/p>\n\n\n\n The Dollar Challenge only requires you to save one single solitary dollar each day. Deposit it, or put it in a hidden jar \u2014 wherever you feel the money is safest. This\u2019ll net you $365 by the end of the year \u2014 not a huge windfall, but you\u2019ll have built a great savings habit. And hey, $365 is not nothing after all!<\/p>\n\n\n\n Simple. Up your 401(k) contribution by 1%. In two months, raise it again by another 1%. If you want to save for the more immediate future, just replicate this outside of a 401(k): set up an automatic transfer of 1% of your gross income into a special savings account each time you get paid.<\/p>\n\n\n\n If you feel like there are places you could afford to cut back on spending but you don\u2019t know where to start, take a whack at one of these babies.<\/p>\n\n\n\n Have a \u201cbad\u201d habit you wish you could leave behind? Smoking, drinking soda, buying expensive coffee, or the like? Well maybe instead of saying you\u2019ll never have a single expensive coffee ever again, challenge yourself to set these purchases aside for just a month. It\u2019ll feel a heck of a lot more achievable, and you\u2019ll be saving whatever you would have spent on the expense. And who knows! By the time you hit the end of the month, you may not feel the need for that thing anymore.<\/p>\n\n\n\n More than a concrete savings goal, this challenge targets an awareness of where all your expenses are going. You\u2019ll pick a period (1-3 months) during which you\u2019ll track all your expenses and categorize them. You can use paper and pen or an app like Mint<\/a>. Essentially, you\u2019re looking for places where you might be able to cut down on superficial or extraneous purchases.\u00a0<\/p>\n\n\n\n It\u2019s really up to you how long you take this challenge on for. It can be one day, one day each week, or a whole month. The idea here is to cut out discretionary spending for the period you land on. You may still have to pay for transit and other basic needs, but when it comes to extra snacks, clothes, or anything else that isn\u2019t totally necessary, you\u2019ll let those things go. If you like, you can make a note of each point where you neglect to make a purchase you wouldn\u2019t have otherwise, and put that money directly into savings. As an extra bonus, you may even end up enjoying the creative problem-solving you\u2019ll have to do during these times!<\/p>\n\n\n\n According to the Bureau of Labor Statistics, the average American household spends $2,375 eating out in a single year<\/a>. If you or your family are the types to forego a home-cooked meal for takeout, delivery, or a dine-in experience, you could really save a lot of money by taking on the No Eating Out Challenge. Very simply, give up restaurant and takeout food for 30 days. You\u2019ll be gobsmacked at the amount you save just by preparing your own food.<\/p>\n\n\n\n How many subscriptions do you currently have? If you\u2019re not sure, it may be time to take on the Cancellation Challenge. It\u2019s all about itemizing your subscriptions (streaming services, monthly app charges, etc.), and cancelling as many as you can. <\/p>\n\n\n\n PRO TIP:<\/strong> Do you buy a coffee every day from Starbucks or another pricey coffee shop? Business Insider calculated that someone who buys a single $5 coffee daily spends $1,200 a year, while brewing at home would cost $45 in that same year<\/a>. Even if you challenge yourself to make your own coffee for only one month, you\u2019d be saving a sweet hundo and still getting that caffeine hit you so desperately need. You may want to deposit the amount you\u2019d be saving on your speciality coffee straight into your savings! So if your favorite latte is $2.75, each time you make your own cup of joe, set that amount aside for the future.<\/p>\n\n\n\n Maybe coffee isn\u2019t your bag, but you order a beer every day after work. Or maybe neither of those things strike your fancy, but you always get a big old Coke for lunch. Challenge yourself to cut that particular beverage out of the budget for just one month. These things add up, and you may be surprised at how much you actually save. To keep motivated, download or draw out a chart like this one<\/a>.<\/p>\n\n\n\n This challenge may be tough for folks who enjoy retail therapy, but it\u2019s actually designed for exactly this type of person. Most of us have more than enough clothes to keep us warm throughout the year, but we may feel inclined to spice up the wardrobe more than is really necessary. If this sounds like you, challenge yourself not to buy new garb for one whole year. You may want to check out how much you spent on your attire the previous year, divide by 12, and put that amount into savings each month.<\/p>\n\n\n\n Talking to customer service reps is rarely fun, but this challenge could help you save for an indefinite period by doing a simple one-time chore. Call your mobile, electric, gas, internet, and cable providers to see if they can offer you a customer discount. Especially if you\u2019re a loyal, long-time customer, they may be able to shave some cost off your monthly bill. If they say no, call around to see if another provider can offer you those savings. <\/p>\n\n\n\n If you find that your grocery bill seems inordinately large, try shopping at a discount grocery store<\/a>. Replicate your last shopping trip\u2019s receipt at this new store (making sure you\u2019re getting the same amount of each item), and compare prices. You may decide this is a change you want to make permanent.<\/p>\n\n\n\n Do you have a pricey hobby? Golfing, rock climbing \u2014 even woodworking can get expensive. If you\u2019ve found yourself spending a pretty penny on your pastime, challenge yourself to pick up a less expensive \u2014 or even free \u2014 hobby for a month, setting aside your costly one. Things like hiking, journaling, drawing, and volunteering at an animal shelter can be incredibly fulfilling, but will keep your wallet from leaving your pocket too often (or at all).<\/p>\n\n\n\n Gas \u2014 especially when the political and economic climates turn against us \u2014 can be incredibly pricey. The No Car Challenge dares you to get around for at least one month with car alternatives: bike, train, bus, or even carpooling. If you do have to use your car, plan out your trips so that you get all your chores done in one fell swoop so that you\u2019re still using it minimally. This challenge is best for people who live in areas with good public transportation infrastructure.<\/p>\n\n\n\n If you feel like you need a tiny bit more motivation, try one of these challenges that’ll add a little extra oomph.<\/p>\n\n\n\n Some people thrive on competition. If that\u2019s you, challenge a friend or family member to the Money Throwdown Challenge. You can decide on the rules together, but you might try to be the one to save $1,000 the fastest or alternatively, save the most in some set amount of time.<\/p>\n\n\n\n This is a fun one to do with your significant other, or potentially the whole family! Write out different cash denominations on slips of paper (i.e. $1, $5, $10, $20), and put 30 of them in a bowl. Take turns picking out a slip each day, and whatever dollar amount you get, you have to put that amount in savings. By the end, you\u2019ll have collectively saved around $282 in one month (if you put in roughly equal amounts of each denomination on the slips).<\/p>\n\n\n\n If you\u2019re the creative type, you might enjoy creating a DIY Savings Fever chart. Draw a large thermometer on a posterboard, adding your savings goal on top and inserting smaller savings goals in intervals along the thermometer. As you save, fill in the thermometer with marker colors that go from cool, to warm, to hot, hot, hot!<\/p>\n\n\n\n Feeling ambitious? Try the Monthly Money Challenge! This one involves picking twelve \u2014 yes, twelve! \u2014 money saving challenges, and completing one per month. If you\u2019re worried you\u2019ll get bored by one full-year challenge, this puppy will help you avoid the drudgery with an ever-changing savings dynamic. You should have plenty to pick from on this very list!<\/p>\n\n\n\n If you\u2019re specifically looking to save for a spectacular trip, try one of these money saving challenges!<\/p>\n\n\n\n One year before your vacation, plan out how much you\u2019ll be spending on the entire trip. Divide by 12, and make sure you\u2019re setting aside that amount each month for your great adventure.<\/p>\n\n\n\nTrim 1% of Your Salary<\/strong><\/h3>\n\n\n\n
Incidental Money Challenges<\/h2>\n\n\n\n
<\/figure>\n\n\n\n$1 Bill<\/strong><\/h3>\n\n\n\n
$5 Bill<\/strong><\/h3>\n\n\n\n
Money Mistake<\/strong><\/h3>\n\n\n\n
Tax Your Vices<\/strong><\/h3>\n\n\n\n
Randomized Challenges<\/h2>\n\n\n\n
<\/figure>\n\n\n\nWeather Wednesdays<\/strong><\/h3>\n\n\n\n
Roll the Dice<\/strong><\/h3>\n\n\n\n
100 Envelope Challenge<\/strong><\/h3>\n\n\n\n
Shorter-term Challenges<\/h2>\n\n\n\n
<\/figure>\n\n\n\n6-Month<\/strong><\/h3>\n\n\n\n
3-Month<\/strong><\/h3>\n\n\n\n
12-Week<\/strong><\/h3>\n\n\n\n
Pantry<\/strong><\/h3>\n\n\n\n
33.3<\/strong> <\/h3>\n\n\n\n
30-Day Meal Plan<\/strong><\/h3>\n\n\n\n
Cash Only For a Month<\/strong><\/h3>\n\n\n\n
31 Days to Improve Your Financial Life<\/strong><\/h3>\n\n\n\n
Light-lifting Challenges<\/h2>\n\n\n\n
<\/figure>\n\n\n\nRound Up<\/strong><\/h3>\n\n\n\n
Dollar<\/strong><\/h3>\n\n\n\n
1%<\/strong><\/h3>\n\n\n\n
Paring Back Challenges<\/h2>\n\n\n\n
<\/figure>\n\n\n\nKick a Bad Habit<\/strong><\/h3>\n\n\n\n
Expense Tracking<\/strong><\/h3>\n\n\n\n
No Spend<\/strong><\/h3>\n\n\n\n
No Eating Out<\/strong><\/h3>\n\n\n\n
Cancellation<\/strong><\/h3>\n\n\n\n
<\/figure><\/div>\n<\/div>\n\n\n\n
If you\u2019re a streaming junky, try just subscribing to one content subscription at a time. Once you\u2019ve blazed through the Hulu shows that appeal to you, cancel that and join Netflix!<\/p>\n<\/div>\n<\/div>\n\n\n\nCoffee Break<\/strong><\/h3>\n\n\n\n
No Soda or Alcohol<\/strong><\/h3>\n\n\n\n
No New Clothes<\/strong><\/h3>\n\n\n\n
Switch Services<\/strong><\/h3>\n\n\n\n
Save Money at a Different Grocery Store<\/strong><\/h3>\n\n\n\n
Hobby Swap<\/strong><\/h3>\n\n\n\n
No Car<\/strong><\/h3>\n\n\n\n
Extra Fun Challenges<\/h2>\n\n\n\n
<\/figure>\n\n\n\nMoney Throwdown<\/strong><\/h3>\n\n\n\n
Bowl Grab<\/strong><\/h3>\n\n\n\n
Savings Fever<\/strong><\/h3>\n\n\n\n
Monthly Money Challenge<\/strong><\/h3>\n\n\n\n
Vacation Saving Challenges<\/h2>\n\n\n\n
<\/figure>\n\n\n\nStraightforward<\/strong> <\/h3>\n\n\n\n
8-Week<\/strong><\/h3>\n\n\n\n
![\"small](\"https:\/\/www.accrediteddebtrelief.com\/blog\/wp-content\/uploads\/2022\/07\/HolidayGiftChallenges.jpg\")
<\/figure>\n\n\n\n