25 Fun Money Saving Challenges for 2024 - Wealthy Woman Finance (2024)

These fun money saving challenges will supercharge your savings, put a smile on your face, and make you feel empowered and in control.

  • Are you asking yourself “How can I make saving fun?”
  • Does it feel like you work hard but never quite get ahead?
  • Are you afraid to open the mail in case it’s another bill?

Whether you are scraping by or doing well on your financial journey, fun money challenges can boost you. All it takes is the right motivation!

Table of Contents

How Savings Challenges Make It Fun

Savings challenges make the difficult seem easy. Saving can be a bore. But it doesn’t have to be! By giving your savings purpose, motivation, and a deadline, you save more in less time.

Choose one or more of the fun money saving challenges below, download the free printables, then check out the tips for success.

Now, let’s. Get. Saving!

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Short Money Challenges to Do at Home

1. No Spend Challenge

Dive into the deep end with the no spend challenge. Try it for a day, a week, or a month and go from zero savings to hundreds or thousands.

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2. 30 Day Savings Challenge

Next, do you need guidance or structure? This 30 day savings challenge printable is for you! Follow the challenge day by day to improve your overall financial habits.

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3. 30 Day Decluttering Challenge

Clean out your home and make money on your stuff. Or simply declutter your living space, so that you can streamline and focus on your life.

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This30-day minimalism challengeturns the act of decluttering into a game.

“If you have debt I’m willing to bet that general clutter is a problem for you too.”

Suze orman

4. The Pantry Challenge

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For one week, challenge yourself to cook meals only using ingredients on hand. This helps you save money on groceries and reduce food waste. Plus, you’ll learn to improvise and get creative with your cooking creations.

Check out my pantry challenge meals >>

5. Raise Your Income Challenge

While most financial gurus go on and on about saving, they miss something crucial. How much you earn is often themost impactfulway to save more money.

Look at it this way,making an extra $300is probably easier than clipping $300 worth of coupons. Or accumulating $300 in gas points.

6. Do a Cash-Only Week

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Next, make saving fun AND more tangible.

  1. Take out your budget in bills for the week
  2. Separate it intocash envelope categories.
  3. Once you spend it, the money’s all gone!

You’ll learn a lot about your spending habits and how you can save more in the future.

7. Give Up a Vice

Next, bad habits are bad for a reason. Most of them cost you financially and in later health problems too. Improve your quality of life and save money at the same time!

Cut back or eliminate your habit for one month. Then, evaluate how you feel and how much money you saved.

When my husband and I gave up alcohol for a month, we saved $200! That means we were spending $2400 in the span of a year!

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8. Free Entertainment Challenge

Could you spend a week or a month doing free things with your family and friends? Yes, it means you have to get creative. You might need to do research or have a talk with your friends about why it’s important to you. But it’s very doable!

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9. Digital Detox Challenge

What would your life be like if you gave up digital entertainment for a month?

A. You’d save a lot of money NOT paying for streaming services, apps, etc.

B. You’d likely be happier. Swap out your couch time with nature and time with friends and family.

Pro Tip: Log out and unsubscribe from everything you can think of before starting!

After you complete the money saving challenge, you’ll know exactly what digital entertainment is worth your money too.

Fun Long Money Saving Challenges

In these longer money challenges, you can save anywhere from $1,000 to $10,000. The sky’s the limit!

10. 52 Week Challenge

Next, invest in your future with a 52 week savings challenge! Build consistency with your savings by trying a 12 month challenge that keeps you motivated.

11. 26 Week Money Saving Challenge

Is a year too long? Start with a 6 month or 26 week savings challenge instead.

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12. Penny Saving Challenge

*Great for low income or saving beginners

If saving large amounts is intimidating or seems impossible, then this penny saving challenge is for you. You’ll build each day, until you’ve saved over $600. And it’s painless!

13. Nickel Challenge

The Nickel savings challenge is similar to the one above but uses 5-cent increments instead of pennies.

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Related: 365 Day Quarter Challenge

14. Low Spend Challenge

In the low spend challenge, you limit your spending for a set period of time. This could be a day, or it could be 3 months. Either way, you eliminate overspending and live a more minimalistic life.

15. BiWeekly Money Saving Challenge

Use this saving challenge as a variation to any of the other challenges! It is a great fit if you get paid biweekly. Instead of moving money into savings every week, you transfer money on payday, every other week.

Here’s a biweekly saving challenge example paired with an envelope challenge:

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Pro Tip: Any challenge can be adjusted to match your income. If it has been a rough month, then lower the number. But don’t stop. The important thing is that you’re saving consistently.

Fun Envelope Savings Challenges

Next, these fun money saving challenges use cash. They are great for getting to the bottom of poor spending habits or making money visual.

16. 100 Envelope Savings Challenge

The popular 100 envelope savings chart has you saving $5,000 in 3 months. That’s no joke!

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17. 200 Envelope Challenge

And if you’re reading for a longer version of the envelope challenge, try using 200 days instead. This variation is also great if you:

  • want to save more (like $10,000)
  • or need a little more time to save $5,000
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Specific Money Savings Challenges

Next, these fun money saving challenges help you save for life’s big goals and money dreams.

18. Emergency Fund Saving Challenge

Having 3-6 months in cash helps you stay out of debt. It also cuts money stress in half. It’s not to be taken lightly! So, use the emergency fund savings challenge to get the amount you need into your account.

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19. Super Charge Debt Payments

Is debt weighing you down? Take off those shackles! Complete a challenge that gets your debt down. Use the free debt payment trackers and commit to a number by a specific time.

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20. Vacation Savings Challenge

*Great for kids too!

Get your whole family involved in this vacation savings challenge! Put the tracker on your fridge along with the number you’re saving for. Then, have everyone contribute savings into a jar.

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21. Christmas Savings Challenge

Don’t let the holidays sink you into debt! Save into a holiday fund ahead of time using the Christmas savings tracker and challenge.

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22. Stop Eating Out Challenge

If you find yourself ordering takeout often, then this fun money saving challenge is for you! Challenge yourself to give up eating out for a month or longer. Then, try these tips to make it happen:

  • Try a rotating meal plan (this helped my family tremendously!
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  • Write out a monthly meal plan
  • Talk with your family beforehand and get everyone on board.

23. 1% retirement challenge

Boost your retirement without even feeling it. Bump up your retirement contribution in your 401K or IRA by only 1%. Chances are you won’t feel the sting much, and you’ll be letting compound interest help you massively over the years to come.

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Fun Money Saving Game Challenges

Next, these money saving challenges are also games! You can’t make saving more fun than doing it as a game!

24. Money Moves Bingo

Grab it below!

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Free Money Saving BingoDownload

25. Board Game Challenge

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*Bonus: Different Financial Learning Challenge

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Best Tips For Saving Challenge Success

Keep track of your progress: Many of the fun money saving challenges in this article come with a visual tracker for a reason. It helps you stay motivated!

Grab a friend: Tell a friend what you’re doing and see if they’ll do it too. You can support each other through the good days and the bad.

Fill out a commitment card: It’s a card that has everything you need to stay accountable.

Make specific savings goals: Write out exactly what you are saving for and why. Give yourself a deadline too. This clarity will be important as you get farther into any challenge.

What’s Next?

Grab more money saving games and money motivation to make your dreams happen!

25 Fun Money Saving Challenges for 2024 - Wealthy Woman Finance (2024)

FAQs

Does the 52-week money challenge work? ›

But know that this savings plan is effective, and it can help you sock away more than a thousand dollars in a year — $1,378 to be exact. You could build up even more if you put the funds in a high-yield savings account. Doing the challenge takes commitment, but it's easy to start.

How to save $5000 in 3 months with 100 envelopes? ›

The 100-envelope challenge is pretty straightforward: You take 100 envelopes, number each of them and then save the corresponding dollar amount in each envelope. For instance, you put $1 in “Envelope 1,” $2 in “Envelope 2,” and so on. By the end of 100 days, you'll have saved $5,050.

What is the 52 week rule for savings? ›

Match each week's savings amount with the number of the week in your challenge. In other words, you'll save $1 the first week, $2 the second week, $3 the third week, and so on until you put away $52 in week 52.

What is the $5000 challenge? ›

The 100-Day Savings Challenge helps you to gradually save up the money to reach your goal of $5,000. This $5,000 Savings Challenge Printable can serve you for so many purposes, such as paying off debt, setting it aside for a house down-payment, taking a vacation, increasing your emergency fund and much more.

How to save $1,000 in 30 days challenge? ›

11 Easy Ways to Save $1,000 in 30 Days
  1. Create a Budget. ...
  2. Automate Your Savings. ...
  3. Create a Savings Bingo Sheet. ...
  4. Negotiate Your Bills. ...
  5. Separate Wants From Needs. ...
  6. Plan Your Meals. ...
  7. Buy Generic Brands. ...
  8. Cancel Unnecessary Subscriptions.
Sep 26, 2023

How much is 1 dollar a day for a year? ›

If you saved $1 a day for a year, do you know how much money you'd have? Roughly $30,000. This is totally 100% true.

What is the envelope budget trick? ›

To begin, a good rule to follow is the 50/30/20 method: 50% of funds go to needs, 30% wants and 20% to financial goals. Make an envelope for each category that applies: rent, utilities, phone bill, gas, groceries, emergency, savings and leisure. Put aside cash in each envelope corresponding to the amount used.

What is the 100 envelope money challenge? ›

It works like this: Gather 100 envelopes and number them from 1 to 100. Each day, fill up one envelope with the amount of cash corresponding to the number on the envelope. You can fill up the envelopes in order or pick them at random. After you've filled up all the envelopes, you'll have a total savings of $5,050.

How much to save $10,000 in 3 months? ›

Setting realistic savings goals is essential to ensure that you don't set yourself up for failure. One way to do this is by breaking down your target amount into smaller milestones. For example, if you aim to save $10,000 in three months, you can divide it into monthly targets of $3,333.

What is the 365 day money challenge? ›

The 365-Day Penny Challenge: With this challenge, people make a daily savings deposit and increase their deposit by a penny a day. At the end of a year, they have $667.95 of savings.

What is the 7 rule for savings? ›

The seven percent savings rule provides a simple yet powerful guideline—save seven percent of your gross income before any taxes or other deductions come out of your paycheck. Saving at this level can help you make continuous progress towards your financial goals through the inevitable ups and downs of life.

What is the 4 rule for savings? ›

The 4% rule limits annual withdrawals from your retirement accounts to 4% of the total balance in your first year of retirement. That means if you retire with $1 million saved, you'd take out $40,000. According to the rule, this amount is safe enough that you won't risk running out of money during a 30-year retirement.

What is the $100 in 30 days challenge? ›

The goal of the Challenge is simple: save $100 in a 30-day time period through a series of gradually increasing deposits. November has 30 days so every day is a savings day. As shown in the picture below, daily savings deposits start at $1 a day for five days followed by $2, $3, and $4 each for five days.

What is the 30-day cash challenge? ›

One way to make saving money easier is to try the 30-day savings challenge. Here's how it works: When you have the urge to make an impulse purchase, wait for 30 days and give yourself time to think about it. While considering the purchase, deposit the money you need for it into a savings account.

What is the $5 trick? ›

You don't have to cut back on spending. You don't have to put aside an obscene amount of money each month. All this challenge requires is for you to stash away every $5 bill you get as change. That's it.

How to save $10,000 in a year challenge? ›

6 steps to save $10,000 in a year
  1. Evaluate income and expenses. To make room for saving, you'll need a meticulous budget that outlines all your sources of income and all your expenditures. ...
  2. Make an actionable savings plan. ...
  3. Cut unnecessary expenses. ...
  4. Increase your income. ...
  5. Avoid new debt. ...
  6. Invest wisely.
Apr 2, 2024

How can I save $500 in 30 days? ›

For something as short-term as this, it may be easier to set smaller, daily goals in order to make saving a part of your daily routine. In order to save $500 in 30 days, you would roughly need to save $17 per day, and this can be a combination of cutting back on spending and making extra money.

How does the 365 Penny Challenge work? ›

The premise of the Penny Challenge is simple: You start by saving one penny on day one, two pennies on day two, three pennies on day three, and so on. Each day, you increase the number of pennies you save by one until day 365, where you will save $3.65. By the end of the year, you'll have saved a total of $667.95!

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