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
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
Small Steps To Saving M
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.
- 18 Creative Ways To Make Money You Need To Know About
- What There Are Actually Hobbies That Make Money
- Best Work From Home Jobs
- 9 Survey Sites To Make Extra Money
- Wondering How To Make Cash Fast? 17 Ideas To Show You How
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!
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.
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.
What Kind Of Savings Challenges Are There?
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
MONEY SAVINGS CHART
Savings Goal: $1000/year
I love this idea. 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 is 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 game!
BULLET JOURNAL MONEY CHALLENGE
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
SAVE AGE CHALLENGE 2018 – SMALL STEPS TO SAVE MONEY
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 2018.
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 but the other way around. Seeing a greater amount 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.
Extreme 52-week savings
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 a great savings challenge for those with more aggressive savings goals or who have quite a bit to save each month. If you follow this for the whole year, you’ll end up with $13,780!
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
Don’t forget to share and pin for later! While you’re there, I’d love for you to follow me on Pinterest