It is always a good idea to have enough cash on hand for unexpected expenses, trips, holiday shopping or maybe a round of online casino games. However, saving money is very difficult.
Fortunately, the internet has provided us with a few money-saving tasks that can not only enable you to save money but also seem to be entertaining. So get out there and get some food, and start building your savings account.
52-week challenge is a great place to start
As one would expect, this competition lets you save cash over the span of a year. You can start relatively small — you just have to save $1 in the first week. After that, each week, add an extra $1 to your savings until you have saved $52 by the end of the year.
Money-saving bingo
Why not turn saving money into a game? Install a pre-made bingo layout with 30 squares filled with random dollar sums totalling $500. Choose a square every day for a month, save that quantity, and after which cross it off. You can also make your own bingo board with various numbers if you like to save more or less. Who knows, you will save enough money to indulge in a session of online bingo at any new online casino!
Challenge of the envelope system
This money challenge is for you if you deal with impulse buying. First, figure out how much money you will need to spend on things like food, takeout, and shopping. Then, once a month, withdraw just one amount in cash and place it in envelopes labelled with each category. The plan is to use the money on just that category because if your shopping money is gone, you won’t be able to pay any more for the remainder of the month.
Weather Wednesdays
We save money on Wednesdays. You are going to save the sum of money equivalent to the high temp in your city every Wednesday for the next year. So, if it is 100 degrees outside this summer, you will be saving $100. If you live in very extreme heat, you’ll save a considerable amount of money, and it’s kind of fun to be shocked by the amount you will be able to save each week.
Money jar challenge for bad habits
Everyone has a few bad habits. This challenge will not only motivate you to save money but will also assist you in overcoming some of your vices. It is pretty straightforward: Get a jar (or a bank account) and add a fixed sum of money in it every time you indulge in a bad habit, such as smoking, sleeping past noon, or missing your exercise.
Spend-free challenge
Obviously, investing no money at all is impractical, but limiting your purchases to just the necessities will help you save a lot of money quickly. Try to stop wasting money on something that isn’t completely important, whether it’s takeout, new sneakers, or drinks with friends. Keep note of how much you will have invested in bringing it into your bank account!
Envelope challenge (100 Envelopes)
This TikTok challenge – gone viral, aims to help you save $5,000 in a year. One hundred envelopes should be labelled with the digits 1 to 100. Then, once a week, take two envelopes at random and stuff them with the sum of money written on them. If you don’t have any cash on you, put the money in your bank account. You can reduce the time to 6 months and use just 50 envelopes for a more manageable challenge.
Coffee break challenge
Make coffee at home if possible, then invest the money you would otherwise have spent on a beverage in a jar or a bank account as a treat. You should do it for a month or make it a lifelong lifestyle improvement, whatever fits best for you.
The $5 savings challenge
Five dollars gets you a latte or takeout delivery at the store. At times, they’re all necessary evils, but they are also a quick way to save a lot of money. Put any $5 bill you happen to find, in a piggy bank, basket, or jar for an entire year. Break it open at the end of the year and add up the savings!
The receipt savings challenge
Check your receipt for “savings” each time you go shopping, and then set aside that amount of money. It may not appear to be much, but it quickly adds up.
Penny challenge for 365 days
You do need to start saving one penny on the first day. But then, each day after that, you will add a penny to the total till you have deposited $3.65 in the bank on the last day. Although it might not seem like much, you will still have saved $667 by the end, which isn’t a bad deal for your spare change. This challenge exemplifies the term “pinching every penny.”
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 a definite goal – saving money!
