Are you tired of saving money being too easy? That’s not most people’s problem, but the truth is that challenging yourself with specific rules and parameters could be easier than just saying “eh, sure, I’ll save more money this month.”
Here are five examples of fun money-saving challenges that are approachable for everyone.
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The No-Coffee-Out Challenge
This is pushing the envelope in terms of fun, but bear with me here! Yes, it can be fun to save money by making your coffee at home, because you’ll spend a portion of what you save on something you’ve always wanted!
Try going one or two weeks without buying coffee out, but put whatever you’d spend aside. When the challenge is over, take half of it and put it in savings, and use the other half on a reward. See? Fun!
The Pantry Prep Challenge
If you’re a fan of those chef challenge shows and don’t mind being creative in the kitchen, then this challenge is right up your alley. The goal here is to set a much smaller budget for your grocery shopping for a week or two and rely more on your pantry.
Getting resourceful is a solid way to clear out mystery ingredients sitting around and save a few extra bucks this month. Another great option is to assign one day a week where you rely on cooking everything at home with what you already have, to help prevent food waste.
The 30-Day Rule Challenge
This involves putting a 30-day pause on purchasing anything non-essential.
Get yourself a notebook (the last non-essential thing you’ll buy) and write down anything you’re tempted to buy throughout the month. Once it’s over, review everything and see if it’s something you still want. You won’t even remember writing it down in most cases, but the fun part is that if you do and you still feel like buying it, you’re finally free to!
The $1 or $5 Bill Challenge
Put all those singles or fivers in a jar, envelope, or even a shoebox. Tuck it away somewhere and use it as a rainy day fund. It’s super low effort, and you probably won’t miss the cash much, especially if it’s just a dollar. You could even use this as a “fun money” fund that you specifically budget for. Clear it out every month or so to reward yourself, rinse, and repeat!
The No-Spend Challenge
This one’s easier than you think, partially because there’s no rule saying you have to do it for any set amount of time. The challenge here is to take a certain amount of time (usually a few days to a week at first) and not spend a dime on anything other than what you need.
It’s one of the best challenges to tailor to your lifestyle while also being one of the more impactful. It’s also perfect for anyone trying to establish a healthy budget, since it can build willpower and shed some light on spots where your money’s slipping away.
