17 Exciting Money Savings Challenges To Save More Money Than Ever Before


Are you looking for some new and creative ways to save money? Are you someone who likes to play games and complete challenges? Commit to one of these challenges to change the way you save money.

17 Challenges To Make Saving Fun

Forget the Stock Market. It’s Time To Invest in Yourself
Image Courtesy of Just dance & Shutterstock.

Money-saving challenges are a fun and effective way to beef up your savings account. It’s a challenge where you set a goal to save a certain amount of money over a specified period. You can participate in a money-saving challenge alone or with a group of friends.

These 17 challenges make saving fun and will help you reach your financial goals!

1. The 52-Week Money Challenge

Woman holding a fan of cash in front of her laptop
Image Credit: Shutterstock.

With the 52-week money challenge, you save $1 the first week and keep adding a dollar each week. The entire amount at the end of the year will be $1,378.

You can switch this up by increasing your savings if your income accommodates such changes.

2. 100 Envelope Challenge

African American Family Around a table saving money piggy bank
Image Credit: Shutterstock.

For the 100 envelope challenge, you save an equivalent amount of money in a labeled envelope for 100 days.

It means the highest savings is $100, and the lowest is $1. If the envelope is marked 50, you put in $50; if 2, you put in $2.

3. $5 Savings Challenge

Girl holding a bunch of cash looking happy
Image Credit: iona didishvili via Shutterstock.

If you are looking for a money challenge that will save you a significant amount without strain on your purse, try the $5 daily challenge.

For three months, a daily savings of $5 will add up to $450. Try keeping up with it for a year, and you will have $1,825 in savings.

Another version of this challenge is to save every $5 bill you get. The amount you end up with will vary by person, but you should be able to save a few hundred dollars.

4. The Spare Change Challenge

Woman using a cell phone and putting change into a piggy bank
Image Credit: ANDRANIK HAKOBYAN via Shutterstock.

Do you have spare change lying around? Or do you get change from your grocery purchases? You can save it. Get a piggy bank for coins, a money envelope, or a money box for bills, and start saving.

Depending on your purchases, your spare change can add up to a significant amount quickly.

5. 26-Week Savings Challenge

Man hand holding American money
Photo Credit: NATNN/ Shutterstock.

The 26-week challenge, or a biweekly savings plan, has you save money every other week. The catch with this challenge is you must increase the amount you save.

Save $4 for the first two weeks and add $4 for the next two weeks. At the end of the year, you’ll have $1,404.

6. 365-Day Nickel Challenge

Person holding change in their hands
Image Credit: lightman_pic via Shutterstock.

You do this savings challenge for 365 days. On the first day, you save a single nickel – 5 cents, and the goal is to keep adding a nickel daily. Counting the nickels saves $18.40 on the last day.

At the end of the year, you have $3,339.75. How amazing is that?

7. Weather Wednesday Savings Challenge

Woman holding a bunch of cash with a pink piggy bank
Image Credit: Krakenimages.com via Shutterstock.

The weather savings challenge is so fun and unpredictable. Every Wednesday is a day to save, and the amount you save depends on the weather!

Check the local weather update on your mobile device or the news and add the exact amount to your savings account.

8. $1 Savings Challenge

Man putting cash in a wallet
Image Credit: fongbeerredhot via Shutterstock.

Every time you get a $1 bill, keep it. To get the most out of this savings challenge, you need to prioritize using cash. If you spend primarily using credit cards, you won’t have much savings.

9. No Spend Challenge

Person putting dollar bills in a wallet
Image Credit: Yulia Grigoryeva via Shutterstock.

If you are an impulsive spender, try no-spend challenge, although it might be difficult on your first try. It works by picking a spending category and not spending money for a month. This could mean no eating out or no buying clothes. You can change the category every month or stick with the same one.

10. The Penny Challenge

Man putting change into a white piggy bank
Image Credit: LookerStudio via Shutterstock.

The penny challenge is a fun and easy way to build up extra money, especially when you have no savings allowance. Start the first day with a penny and add one daily.

After 365 days, you would have saved $667.95!

11. The Round-up Challenge

Man stacking coins
Image Credit: kram-9 via Shutterstock.

This challenge is exciting.

When you make any purchase that isn’t a round figure online or in-store, round it up and save the extra. For example, if you buy a pair of slippers at Walmart for $9.45, round it up to $10 and save the $0.55.

The trick to making this one work is saving the round-up. If you pay in cash, you can save the change. But if you pay using a credit or debit card, you must manually transfer the $0.55 from your checking account to a savings account.

12. 1% Salary Saving Challenge

Couple sitting on floor figuring out how to make money in one hour
Image Credit: LightField Studios/Shutterstock.

As the name implies, you set aside 1% of your annual salary to save. For example, if you earn $60,000 annually, 1% of that will be $600, which means you will save $50 each month.

As usual, you can improvise and make it 10% instead. Just determine how much you can save without negatively impacting your budget.

13. Coffee Break Challenge

Woman and man doing paperwork together, paying taxes online on notebook pc Woman and man doing paperwork together, paying taxes online on notebook pc Woman and man doing paperwork together, paying taxes online on notebook pc Woman and man doing paperwork together, paying taxes online on notebook pc images Young attractive man and beautiful woman on date looking on tablet Father with little daughter drawing at home Happy time with colleagues at work Intelligent man playing with funny boy Group of business people meeting in coffee shop Young happy family during the New Year and Christmas holidays at home joyful buy gifts online using a smartphone and credit card Senior Mother Interfering With Couple Having Argument At Home Popularity score High Usage score High usage Superstar Shutterstock customers love this asset! Stock Photo ID: 792809188 Woman and man doing paperwork together, paying taxes online on notebook pc
Image Credit: Shutterstock

Are you addicted to Starbucks? Try saving money instead of buying coffee. Whenever you crave Starbucks or make coffee at home, put some money into savings.

Your savings can easily add up to $1,000 yearly, depending on how much you love coffee.

14. 30-Day Minimalist Challenge

Woman holding cash and using her laptop
Image Credit: Andrew Angelov / Shutterstock.

For the minimalist challenge, get rid of a single item you do not need daily. You can sell these items on Etsy, eBay, or Craigslist and save the money you earn.

Alternatively, you can donate the items to a local charity in town. If you go this route, save the donation receipt, as you can write this off on your taxes, saving you money.

15. The $20 Savings Challenge

Woman putting dollar bills in a piggy bank and using a calculator
Image Credit: Africa Studio via Shutterstock.

This savings challenge can be 52 weeks, a month, or half a year, depending on your savings goals.

If you set aside $20 weekly, you will have $1,040 in one year. If your budget doesn’t allow you to save $20 a week, you can save every two weeks or once a month.

16. The $33.33 Challenge

Woman holding a wallet filled with cash and taking money out of it
Image Credit: Africa Studio via Shutterstock.

If you can spare as much as $33.33 daily, try saving it for 30 days. Keeping $33.33 per day for 30 days will get you $999.90! If this is too much for you to put in daily, how about adjusting it to suit your income?

For example, $33.33 every three days will be $333 monthly. If you keep this up for the whole year, you will have $3,996 in 12 months!

17. Monthly Savings Challenge

Man sorting coins into glass jars
Image Credit: lovelyday12 via Shutterstock.

This challenge has you pick an amount to save each month. It works best for people who have a variable budget. For example, during a slow month, your goal could be to save $25; during a good month, you choose to save $200. And, because it is entirely customizable, anyone can use it.

This post originally appeared on Wealth of Geeks.

More From Wealth of Geeks

6 Favorite Checking Accounts for Teens
Image Courtesy of Dean Drobot & Shutterstock.

25 of the Best Money Saving Apps

Have you set savings goals that you’re working hard to reach? One of the best ways to boost your savings is using money saving apps. These 25 apps can help you find significant savings in your everyday spending and even earn some extra cash on the side to help you reach your financial goals.

25 of the Best Money Saving Apps

Free PayPal Money: 19 Legit Ways To Get PayPal Cash Instantly

How to instantly get free PayPal money
Image Credit: Primakov via Shutterstock.

If you’re in a bind and need to earn money, you may be curious about how to earn some extra cash online.

While it might seem outrageous to earn ‘free money,’ there are plenty of legitimate ways to make free PayPal money legally. Check out these legit ways to get free PayPal cash.

Free PayPal Money: 21 Legit Ways To Get PayPal Cash Instantly

12 Best Investment Apps To Get Started With Any Budget

Smiling young couple embracing while looking at smartphone. Multiethnic couple sharing social media on smart phone. Smiling african girl embracing from behind her happy boyfriend while using cellphone apps home buying white man black woman
Image Courtesy of Rido via Shutterstock.

With today’s best investment apps, your finances are just a few taps away on your mobile device. But the array of options and features can be overwhelming. Our list of the best investment apps will help you determine which mobile app fits your financial needs.

12 Best Investment Apps To Get Started With Any Budget

39 Easy Ways To Earn Free Gift Cards (GameStop, Target, Apple & More)

Image of multiple free gift cards in a pile
Image Credit: Shutterstock.

With the pressures of a changing economy, people are seeking creative ways to make money online. Maybe you’ve already explored your side hustle options and are looking for an easy way to supplement your income.

We’ve tracked down all the best resources to help you earn free gift cards without the hassle of having to do the research yourself.

39 Easy Ways To Earn Free Gift Cards (GameStop, Target, Apple & More)

90+ Apps That Pay You Real Money in 2023

Apps that pay you money
Image Credit: Shutterstock.

Looking for ways to make some extra cash on the side? Spending too much time online, texting, and scrolling social media may be a fun way to fill the margins of your day, but otherwise serves little purpose. If you’re playing on your phone anyway, you may as well make a few bucks while you’re at it. Here are 90+ apps that pay you real money.


About author


Follow me:
View my other posts

Leave a Reply

Your email address will not be published. Required fields are marked *