If you spend time on Pinterest, you’ve probably seen multiple Money Saving Challenges pins as you scroll on the platform.
While many money-saving challenges float around the internet, you may feel like none apply to your financial situation.
I understand that not everyone has a lot of money left over after covering their bills and other costs.
Some households don’t even have a spare $25 each week. But I want to encourage saving at any level that you can.
If we want to work toward a more secure financial future, we all must start somewhere.
So, while we will cover the money-saving challenges to $1378 and $5000, there is also the Freestyle Savings version.
Let’s take a look at which challenge fits your current budget.
Money Saving Challenge To $1378
Now, if you are able to take on a medium-sized challenge, we have the money-saving challenge of $1378.
I’ve prepared printables for both the forward and reverse approaches.
- You decide, start slow with $1 and add an extra dollar each week to match the week’s number (Example: $7 for week 7)
- Or give the reverse version a go, starting with the most significant contribution of $52 on week one and working your way down to $1.
Choose whichever technique works best for you. Do you prefer to build momentum or hit the pavement running?
By the end of the 52 weeks, you will have $1378 to put towards your emergency fund.
This study shows that 57 million Americans lack an emergency fund, so getting that fund set up should be a top priority.
Another fun approach to saving is grabbing a box of envelopes from your local Dollar Tree, writhing a number from 1 to 52 on each envelope, and randomly selecting a different envelope each week.
Grab your Money Challenge Printables To $1378.
The printables for both the forward and reverse versions are included in the link above.
Money Saving Challenge To $5000
The $5000 goal will naturally be more challenging and may require extra creativity.
You may need to devise a side hustle to make all the weekly contributions.
If you need some side job ideas, give this post a read.
Are you willing to trim the fat from your expenses? Perhaps grab an extra shift at work?
The first $1000 I saved in my life came from taking a second job on top of my full-time course load and 35-hour work schedule at my regular job.
It was a grueling few months, but it got me on the road to financial freedom.
Since your monthly savings will be over $100, I recommend transferring them into a dedicated savings account where you can get additional interest.
Your money-saving challenge printables for $5,000 (partially filled and blank) are available to print here.
Freestyle Savings Challenge
This Freestyle Savings Challenge aims to save something each week, anything that you can afford, even if it is $2.
“What’s the point?” you might say!
One of the main issues people face when trying to save (besides needing the funds to be available) is learning how to budget and start building those money-saving habits.
If, at the end of the year, you have saved $200, that’s $200 more than you had before, which could come in handy during tough times.
And the best way to start this journey is by reviewing your budget.
Sign up for our newsletter and grab your free monthly budget template (you can unsubscribe at any time).
Now, it’s still a challenge, so try finding ways each week to help you save even more.
I know that sometimes it can seem like you have no spare money to save (and many people legitimately don’t).
- But for many, it can be a simple question of evaluating where your paycheck is going and shifting some of it into a savings account.
- It could be something small like skipping one treat or takeout meal a week.
- Grab one extra shift a month, and make it your total monthly savings.
And don’t forget about scripting for manifestation; many people swear by this technique.
To help you get started, I’ve created free money-saving challenge printables for you.
Grab your Freestyle Savings Challenge PDF.
Don’t forget to check out this helpful article for budgeting and finance tips.
Staying Upbeat during the challenge
As with any challenge, there will be ups and downs.
There may be moments when you will be tempted to stop and give up, but try to remember why you started down this path.
Stay positive and view every sacrifice you make as a step forward.
You’ve got this!
Don’t forget to pin and share this challenge with anyone looking to improve their savings account!
Money Saving Challenges – Save $1378 To $5000 Or Try The Freestyle Version