Seven fun and easy money challenges

We all need more money in our life but also need something to kickstart the savings process. It can be hard to save money, but here are seven fun and easy money challenges to get you started. Doing money challenges to save money, such as the 52-week challenge, will show you that it’s possible to increase your funds, yet do it in a fun manner with a goal to meet to keep your interest pumping.

Here are seven fun and easy money challenges:

1. The 52-week challenge

Here is a great challenge to get you going beginning with only a buck! It is just as simple as it sounds. Each week you save a specific amount of money, and after 52 weeks, if all goes well, you will have saved $1,378. That doesn’t seem like much money, but if you do the same 52-week challenge every year and don’t spend it, you’ll soon have a pretty good nest egg saved up.

The way the 52-week challenge work is that the first week of the year (or the first week you decide to start), you save one dollar. The next week you save two dollars, and the third three dollars, and so on, adding a dollar every week. By the end of the year, your final savings amount is $52 for the last week, and you’ve saved up the $1,378.

2. Eat at Home Money Challenge

Another one of the money challenges to try is the Eat at Home Challenge. Lots of us think nothing of drinking a five-buck cup of coffee on the way to work, then dropping ten bucks at a fast-food place to eat lunch, and maybe even on the way home, you decide you’re just too tired to cook, and you pick up a pizza. All that adds up fast!

If you instead make an effort to do things like make your own coffee and invest in a thermos to take it to work, make your lunch at home, and then actually cook dinner at home using the ingredients you likely already have on hand, it could actually save your 100s and maybe even a few thousand bucks a year.

3. The One Percent Money Challenge

If you are in a job where you can contribute to a 401 K retirement fund or to an Individual Retirement Account, then why not pay yourself first on your next paycheck by increasing your contribution by one measly percent. You could even add more if you can afford it. This is wonderful because it doesn’t require something you do consciously, and you get used to not having this amount in your pay, so you don’t miss it.

4. No Spending Day Money Challenge

You can’t save money if you are constantly spending it. Of course, you have to pay your bills and other obligations, but you can do this money challenge by picking one weekend a month where you don’t spend any money at all. This could be on a weekend when you can stay at home and just veg out and do chores or watch T.V., anything that is free to do. Any drink or food you consume is going to come from whatever you already have on hand. If a whole weekend seems too much, try it for one day. If it works, you might even be able to declare a no spend a week to even save more money via one of these seven fun and easy money challenges to help you meet your savings goals.

5. The Save Your Dollar Bill Challenge or Save Your Change Money Challenge

Another one of the money challenges easy to do for some folks is where you never spend any change you receive, or you don’t spend a dollar bill or even a five-dollar bill when you have them. This one may be a bit harder for some folks since many of us only use debit or credit cards and never carry cash. But every little bit helps, and if you do have any cash, then each time you get some change or a dollar or $5 bill, put it into a jar and leave it. By the end of the year, count it all up and put whatever is there into a savings account. You might not get rich, but every penny in these money challenges goes towards making your savings grow.

6. 365 Day Money Saving Challenge

Here is another of the daily money challenges to try. This challenge is similar to the 52-week challenge because you save certain amounts of money. For the 365-Day Money Saving Challenge, you start off by putting one dollar away in a jar, then on Day 2, you put in two bucks, on Day 3, three bucks, and so on, and so on, increasing the amount daily you are saving.

7. The Reverse 52 Week Money Challenge

If you liked the 52-week money challenge, then how about spicing things up by making it the Reverse 52 Week Money Challenge? In this version, you start off by putting 52 dollars into your savings account the first week, then the 2nd week, you put in 51 bucks, counting down until you only put a dollar in the last week of the year. You will end up with the same amount of money as you did in the original money challenge. However, if you can afford it, you could put even more money into the savings account every week since now you will be used to doing it. It’s all up to you and your comfort level.

All in all, it can be hard to save money. But if you make it fun via money challenges, then chances are you will save at least a small amount every year, and eventually, it will add up to a larger amount to help you meet your savings goals.

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