money saving challenge

9 Money Saving Challenges To Start Today

Starting a money saving challenge is a great way to kickstart your money saving goals into high gear for the following year. A 52-week savings challenge is the perfect amount of time needed to get your finances on track.

Does 52-weeks sound a bit long? Don’t worry there’s a 30 day money saving challenge that may be more suitable.

The best thing you can do for yourself is to learn how to save money the right way. Learning to save money gives you the momentum you need to break the cycle of debt once and for all. Setting up a money saving challenge is beneficial because it helps you to keep sight of what you are trying to achieve.

Now of course in a perfect world, you’d be regularly saving a portion of your paycheck.  But the world isn’t always perfect. Sometimes you need something like a money saving challenge to push you towards achieving your goals.

The challenges below are a great way to save a significant amount of money over the next 52 weeks. This isn’t something you have to start on the first day of the year.

You can start whenever the time is right for you (I do suggest starting sooner than later). As we all know there are always excuses to made as to why the timing is never right. How about this…. “There is no better time than now.”

Small Steps Towards Starting a Savings Challenge

It’s all about perspective and developing habits. What I love most about these money saving challenges is you start out with an easy amount to save like $1 for week 1. By doing a small manageable amount it gives you time to adjust and gain perspective of your spending.

Why You Need A Savings Challenge

Let’s face it, saving money isn’t the most fun thing to do. But unless you are one of those lucky people who has won the lottery most of us don’t have a ton of extra money hanging around.  

Savings challenges are great for saving up money for last minute vacations or if you need to repair something unexpected like the screen on your phone.

I Don’t Have A Lot Of Extra Cash, Are Their Creative Ways To Save Money?

Absolutely, this is where I excel. I love finding new and creative ways to save.  I don’t necessarily call myself a complete cheap $#@! But I definitely know where to draw the line and I love discovering alternative ways to make a bit of extra cash.



Ebates is my absolute favorite company for shopping. If you ever shop online you definitely need to check out Ebates.  Ebates has more than 1200 popular companies that people shop with.

It’s so simple to use all you do is click on the store you want to visit and you are redirected to their site, after you make a purchase, you earn a percentage of the sale! They literally give you up to 25% cash back on every purchase you make.  And it’s completely free.

To start earning money you just need to download the app, fill out the registration form, start shopping, and earn cash! Sign up and get a $10 welcome bonus today!


When you sign up with Ibotta you can save money on the groceries you already buy. All you need to do is buy the item and then take a photo of the receipt for proof of purchase!  You will then receive between $.25 to a few dollars per receipt as cash back. It’s is so easy I can’t believe they give you cash back so easily.

Create a New Ibotta Account, and then you’ll get a FREE $10 Bonus when you redeem your first rebate in the first 15 days!  Sign Up Here, Redeem Your First Cash Reward, and Earn $10 just for trying the Ibotta App today!


The easiest way to save some extra money is by signing up with Swagbucks.  Swagbucks is one of my favorite survey companies. You can get a $10 free Amazon gift card welcome bonus just for signing up! Swagbucks is a fun rewards program that gives you free gift cards and cash when you redeem points online  Sign up and get a $10 welcome bonus today with Swagbucks!

CIT Bank

If you want to make the most of your money don’t keep your money in your average everyday banking account.  Instead, check out CIT Bank where you can earn up to 2.25%.

By signing up for CIT Bank I was able to save thousands of dollars last year.

Personal Capital

If you are looking for a long-term solution in your financial planning, Personal Capital is awesome. It helps me track everything I need to know about my money – investment performance, cash flows, budgets, and early retirement trajectory. This is the best money app – period.

Limited TIME OFFER! By using my referral code, you will earn a $20 Free Amazon Gift Card when you sign up for a Free Personal Capital account.

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    What Kind Of Savings Challenges Are There?

    1. 52 Week Money Saving Challenge (Save $1,378 in one year)

    This is one of the more popular savings challenges for good reason it works! What I love about this particular challenge is you start out with an easy amount like $1 for week 1, as you develop new financial habits the amount of savings begins to increase.

    As you continue saving by week 52 week you will have saved $1,378!  Of course, when you get towards the end it can seem a bit tricky to save the money necessary but the great thing is this method has given you time to adjust your budget and make a plan to cut out unnecessary costs.


    Idea by Jamie at Medium Sized Family

    Savings Goal: $1000/year

    I love this idea money savings chart.  With this challenge, you get to pick which amount you’re saving each week!  

    We’ve all been in the position where unexpected things happen. Some weeks are easier to save money than others.  This challenge is great because it allows you some flexibility. It’s also perfect for someone whose income varies and needs a bit of flexibility.  

    How it works: Let’s say you are able to save $36 dollars this week and only $8 the next. Simply cross off what works for your budget that week and then continue until you’ve used up all the amounts.  Turn it into a fun money savings challenge!

    52 Week Money Challenge Free Printable


    Idea by Suzi @ Start a Mom Blog

    Savings Goal: $1200/year

    I can’t tell you how many times I’ve wanted to start bullet journaling, I’ve seen so many fantastic bullet journal ideas and have yet to start. When I came across Suzi’s post, I knew I had to include it in my list on how to save for little goals.

    I love how Suzi uses the jars to show her savings progress, it’s a great visual aid. Plus, the actual number progress is great, too!

    Want more bullet journal ideas to organize your finances check out this article


    Idea by Kristy @ Money bliss

    I love the idea of this savings challenge. Every month you deposit your age in dollars to a separate bank account. This could be a regular savings, Roth IRA, college savings – whatever type of account you want.

    However, the key is you cannot withdraw money from the account during the year.

    Save Age Challenge 2018. Saving money is a common New Year's Resolution. Here is the Save Age Challenge 2018 to help you save money. Simple, easy. Get money tips once signed up. Reach your money goals. Save money monthly. Save money based on your age each month.

    5. Reverse 52 Week Saving Challenge

    Money Savings Challenge goal: $2500

    Different money challenges have different plans for saving. For instance, the 52-Week Money Challenge helps individuals save more than $1,300 over the span of a year.

    The 365-day challenge, on the other hand, helps you save less than $700 over the same period of time. You may be wondering what exactly is the reverse 52-week saving challenge?

    The 52-week reverse savings challenge is popular because you get the hardest part out of the way right from the start. The amount you save lessens over time making saving easier as time goes on.

    This is basically the same as Savings Challenge #1 (the 52-week savings challenge) but the other way around. Seeing a greater amount saved right off the bat can be a big motivator.

    You start off by saving $104 the first week, then $102 the second week, and $2 on the 52nd week of the year.

    6. Extreme 52-week savings

    Idea by The Land Of Milk and Money

    Does the basic 52-week challenge sound too easy for you? I mean, having $1,378 is great and all. But $13,780 is SO much better.

    This is an “extreme” savings challenge for those with more aggressive savings goals or who have quite a bit to save each month. If you follow this challenge for the whole year, you’ll end up with $13,780!

    Wow! Using a money saving challenge to get better at my money management is one of the best money saving tips I've heard! It's such a great idea to have a choice of 30 day, monthly, or 52 week money saving challenges - and having free printable templates and worksheets makes it super easy to track! I'm definitely using this to try to save 10000 this year to become debt free. This personal finance tip is perfect for wannabe money savers like me!!

    7. Our Family Savings Challenge

    For us saving money is easiest when we plan for it in our monthly budget. I have a set amount that is automatically transferred from our banking account directly into my CIT Bank Account. This method works really well for us and especially well for some of our larger money goals. I’m a firm believe in the “pay yourself first” culture.

    8. Envelope Savings Challenge

    Idea by The Budget Mom

    If you are looking to start the cash envelope system as a way to save money and get your budget back on track yeah for you! Here’s an article that tells you everything you need to know about getting started with the cash envelope system.

    If you are looking for the queen of all queens when it comes to an envelope savings challenge you have to check out The Budget Mom. Kumiko knows what it takes to bring some awesomeness to an envelope savings challenge . Honestly check it out, she has some beautiful artwork on her envelopes.

    9. Money Saving Challenge Bi-Weekly (26-Week Savings Challenge)

    Idea by Budget And The Bees

    This is a great way to save money for people who are paid every other week. This bi-weekly savings challenge helps you save around $1,300 over a year just like the 52-week challenge however you only deposit your money twice a month.

    Final Thoughts on Money Saving Challenges

    If you’re interested in taking control of your finances and boosting your savings a money savings challenge may be just what you need.

    I’m interested to hear from anyone who’s finished a 52-week money savings challenge? What did you think? How’d it go?

    Don’t forget to share and pin for later! While you’re there, I’d love for you to follow me on Pinterest

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    1,124 thoughts on “9 Money Saving Challenges To Start Today”

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