Money can be a tricky thing. But there are many fun ways to help you value and manage your money that doesn’t involve doing accountancy exams. If you’re looking for fun and easy money challenges, you’ve come to the right place! Who doesn’t like earning a little extra cash? I know I do. So here are a few easy money challenges for anyone to try. Some may sound familiar, and some not so much. Here are seven ideas for money challenges you can complete (start to finish) in one month to make 2022 the year where you get the most value out of your money.
The Penny-a-Day Challenge
We believe in everyone’s ability to create something that makes their life better.
The Penny-a-Day money Challenge is a way for you to practice that belief—and we’re here to help.
We’ll start by asking you to set aside a penny a day for the next month. That’s it! Just a penny, one day at a time.
Then, on the first of the following month, we’ll ask you to use that money to buy something that helps improve your life. It can be big or small; material or spiritual; simple or complex. The only rule is that it has to make your life better somehow! It could be a colander for your kitchen, helping you cook more efficiently and enjoyably. Or it might be tickets to a concert or play, giving you something fun and exciting to look forward to soon. Or maybe it’s an investment in yourself, like an online course to learn how to code.
The 365-Day Money Challenge
The 365-Day Money Challenge is a great way to save a little bit of money every day. You have to start with a penny on January 1st and go up from there, adding one more penny to the pot each day. You’ll have saved over $668 by the end of the year!
How does it work? Starting on January 1st, add another penny to your jar every day of the year. If you want to make it more interesting, you can use different colors for each month or put them all in one jar to be counted at the end of the year.
The best part about this challenge is that anyone can do it. Even if you’re broke as a joke or have tons of debt, you can still find a penny or two to add to your jar every day. It’s not going to make you rich quickly, but by the end of the year, you’ll be able to build up some savings and feel good about yourself for having completed this simple task every day!
The 52-Week Money Challenges
Did you know that growing your wealth is easier than you think? It’s true! All it takes is a commitment to be better than your old self and save a little more of your money each week.
With the 52-Week Money Challenge, you’ll take one small step each week toward building up your bank account, one dollar at a time.
To start with, in the first week of the year, you’ll stash away $1. In the second week, you’ll stash away $2, and so forth until you’ll have stashed away $52 in just one week by the end of the year.
By saving small amounts of money consistently over time, you can build up a reserve that will help you achieve your financial goals, whether paying off debt, buying a house or car, or just having some extra cushion for life’s unexpected events.
The No Spend Month Challenges
It’s time to get down to business.
The No Spend Month Challenge is all about taking stock of your finances and finding ways to give your bank account a boost. And it’s not just about pinching pennies. It’s about making some serious progress on your savings goals, too!
For one month, you’ll put the brakes on spending any money outside of what you need for essentials—food, utilities, etc.—and see how much you can save as a result.
You’ll be surprised at what you learn (and how much you save)!
The Christmas Club Challenge
Hello, Santa!
I’m writing to let you know how excited I am to participate in the Christmas Club Challenge. Like many of our customers, I’ve had some challenges with my finances in the past and would like to get ready for next year by saving as much money as possible. That’s why I’m so happy to be a part of this challenge—I feel like it will help me get where I want to go.
I’ve decided that my goal for next year is to buy my best friend a trip to Hawaii for her and her husband. My friend’s husband has just been through some hard times, and my friend has been struggling to keep up with the bills and still treat them both nicely. I’d love nothing more than to be able to give them a trip they’ll never forget, but that’s going to take some severe savings on my end.
Luckily, with all the new features Owl Bank has added recently, I feel more confident that I’ll be able to reach my goal. Of course, the app and site improvements are significant because they make it easier for me to save money fast! But more importantly, there are now many more ways for me to connect with other people who share similar goals.
The Emergency Fund Challenge
The Emergency Fund Challenge is a 30-day program that will have you feeling better about your finances than you ever have before. Each day, we’ll give you an assignment designed to help you take one small step towards your goal. By the end of the month, you’ll be well on your way to having an emergency fund that helps reduce your financial stress.
Are you ready to get started?
With one of the biggest financial crises in history unfolding before our eyes, most
of us are feeling more vulnerable than we ever have.
If you’re like many people, you’ve probably been wondering: Am I prepared for the worst? Do I have enough money to pay rent if I become seriously ill? Will I be able to afford groceries if I lose my job?
This is why we’re proud to bring you “The Emergency Fund Challenge,” an easy way for you to secure your financial future—even on a budget.
The Reverse Money Challenge
If you’re considering participating in the Reverse Money Challenge, which is an increasingly popular game played by people trying to get control of their finances,
The premise is simple: every day for 30 days, you put more money into savings rather than spending it. You’ll start small, putting away $1 on the first day and then increasing amounts by a dollar each day until you’re putting away $30 per day. So on Day 1, you put away $1. On Day 2, you put away $2. And so on.
Don’t worry if that seems too much too quickly! It can be completely customized to your needs and preferences. Some people prefer to start with a quarter each day and then increase the amount by 25 cents every day until they’ve put away $7.50 a day for 30 days—or start even smaller and save one penny on Day 1, two pennies on Day 2, and you get the idea. You can complete this challenge with whatever amount best suits your financial goals and situation.
Sometimes it’s helpful to have a group of friends who are doing this challenge with you, so you can encourage one another and check in about how your
Sometimes you can become so used to your routine that it becomes dull. Reaching financial milestones can seem difficult sometimes as well. To keep yourself on track for your financial goals, these challenges will help shake things up and give you the fun breaks you need from continual budgeting, bill-paying, and more!
It’s a simple fact that money matters. And while it might be easy to brush it aside now, you might regret it later. It doesn’t matter if you’re 20 or 40 or 60 years old; your financial health is a conversation worth having now while you’re in the mindset. Even if you can barely get yourself out of bed in the morning, I promise you, the time will come when you need to be able to take better control of your financial situation and your money challenges.
