Saving money is very difficult, especially when there are many options to spend like trips, holiday shopping, and festivals. But at the same time money saving challenges are fun and interesting. It is equally important to have enough cash in hand for any unexpected expenses. The main concern in saving or investing money is that the income or budget is very limited. There should be some ways which help people with a small budget can start saving. We can start saving money with some interesting money saving challenges.
Let us discuss some interesting money saving tips. These days, the internet has provided a great way to explore different money saving challenges. So let us start exploring some fun ways to save money, even if your budget is small.
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10 Interesting Money Saving Challenges To Start Right Now
A Simple Start: 52 Week Money Saving Challenge
This money saving challenge lets you start with your saving journey. It helps you save some cash in one year. In this, you can start by saving a small amount every week. Make sure you save some money every week, even if you think the amount is very small. But at the end of the year, this will add to one decent amount, and this will motivate you to take this journey of saving to the next level and save more in the coming years.
You can take this to next level by challenging yourself to save more money than the previous week every time. This will be an added bonus. An important point is that to stick with the streak of saving every week and not to miss on it.
Money Saving Challenge Card Game
Envelope Saving System
This challenge is for those who struggle with the problem of impulsive buying. This is very useful to fix your budget by not letting you overspend. Start by calculating how much money is required every month for your grocery, bills, and other shopping. Then, every month withdraw this money one time and keep it in the envelopes which are labeled for each purpose. Whenever you have to buy groceries, or petrol takes money out of this envelope and use it and not from your account. This will enable you to spend only the amount designated for each purpose. Also, this will limit impulsive spending.
Save By Weather Days
In this new money saving challenge, you are to save money as per the weather in your city. In this way, you will save an equivalent amount of money as per the temperature in the city for a year. For example, if it is 35degree in the place where you live, you save 35rs. Like this, you will save a considerable amount of money every year. And you will be surprised to see the sum you saved by end of the year.
Money Saving Jar Challenge For Bad Behavior
All of us behave badly sometimes or have a few bad habits. This smart money saving challenge helps you to tackle your bad habits and help you save money also. It is very simple, keep a jar, piggy bank, or a bank account and add an affixed amount every time you tend to behave badly or indulge in some bad habits for example smoking, not working out, sleeping late, or getting up late. This will help you to correct your habits and motivate you to save money.
Spend-free Day Challenge
This one challenges you to have a spend-free day, once a week. Even if you are not willing, keeping such challenges will indirectly help you save some money. Limit your purchases to absolute necessities only. This will help you to save a lot of money in the long run. Avoid spending on something that is not important, be it a new pair of jeans or drinks. Keep a note of all such savings and you will realize how much you saved just by avoiding unnecessary spending.
Another Envelope challenges
This is a very popular TikTok challenge, aims to help you save a fixed amount in a year. You will need a number of envelopes 100 or 50. This is to be labeled with numbers from 100 to 1000. Then twice every week, take a random envelop and stuff them with the sum of money written on them. This will help you save a considerable amount in a year. You can adjust the amount written on the envelope as per your income and budget.
Tea break Saving Challenge
We all love tea/coffee breaks. Unknowingly these breaks take away some money that can be saved. This challenge motivates you to take fewer coffee/tea breaks and save money. You may feel this is a very minimal amount, but it will help you to follow a disciplined approach.
The 5Rs coin savings challenge
This challenges you to put any 5rs coin you happen to find, in a jar or a piggy bank for an entire year. Break it open at the end of the year and add up the savings!
The receipt savings challenge
Have you noticed the savings amount in your grocery or shopping bills every time you go shopping? Take a note of that amount and keep the same amount aside as additional savings. This will not seem much in the beginning but adds up in a year to a considerable amount.
You can try out these challenges and see how much you can save over a period. These challenges are not only easy but fun and exciting and drive you to definite goal-saving money!
