Are you the kind of person who needs a little push to help them meet their money management goals?
Try one of these fifteen challenges and see how far you can take it!
Holiday Savings Challenge
This is for those of you who always feel like the holiday season takes you by surprise: put away $20-25 a month specifically to help with your holiday spending this year.
Save $1000 in 3 Months
It might sound impossible, but if you budget carefully, you can have $1000 in the bank by putting away $84 a week for the next three months. We believe in you!
Sign Up For The $1,000 Savings Challenge!
Bring Back the Piggy Bank
This isn’t exactly a challenge, but the tradition of adding loose change to a jar or piggy bank and then using it as a rainy day fund is a cliche because it works!
No Eating Out
You can do this challenge as long as you’d like (or as long as you can tolerate it, if we’re honest) and see how much you save. Pro tip: start with less time to increase your chances of success.
The Frugal Friend Challenge
Pair up with a friend or two and see who can save the most money over a set time. It’s a challenge where everyone wins and stays motivated!
Daily Budget Challenge
This is almost a must if you’re creating a new budget, but spend at least a month keeping track of all your expenses every single day. Then, adjust your budget and see where you need to make cuts.
One Month Money Management Makeover
Spend the next month doing at least one thing daily to help better manage your money. Whether that means reorganizing your finances or finally calling to cancel that subscription service you aren’t using, you will come out of it with a renewed sense of purpose and some serious savings.
Daily Dollar Savings
Any time you get your hands on a single, drop it in a jar. Once it’s full, use it however you see fit!
Monthly Savings Challenge
This one is great for people with more variable incomes: change the amount you save each month based on what you think you’ll make.
The Build-Your-Own Special
Choose the parameters yourself. Decide how much to save, when you’ll save it, and what the rules are. It’s often easier to succeed if the challenge is more tailored to your way of life.
The Round-Up Challenge
Save extra by rounding up your purchases to the nearest dollar or so and throwing it into your savings. Some banks will even do this for you automatically; you just need to sign up for it.
Paycheck-To-Paycheck Savings
Take a set amount out of each paycheck to put in your savings. Like with the round-up challenge, some employers will do this for you if you ask.
Push Yourself
Let’s say you saved $10 the first week easily. Do you think you could do $20 next week? Maybe even $40 the next? Increase your savings incrementally and test the limits of your frugality!
Cash Only
Paying primarily with plastic can lead to overspending. Challenge yourself to pay only with cash; you’ll notice yourself thinking twice before making certain purchases.
Get Random!
This one’s fun: put some numbers in a hat, pull one out, and that’s how much you’ll save that week!
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