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A save money challenge will help you create an emergency fund or save up for something you want but can’t afford today. See How big should your emergency fund be? Cancel as many things as possible and put the money you would spend on them directly into savings. 18. Little Vices Savings Challenge This challenge is a lot like the spare change challenge. The only difference is that you are saving all of your pennies, not all of the loose change. They give you a brand new task or challenge each day, and then give you the tools and resources to do them. This is the perfect 31-Day challenge for beginners! 11. 3-Month Savings Money Challenge
The 1p challenge is a daily savings scheme whereby you try to save 1p per day, with a 1p increase each day. It's a great way to build up your savings pot in a manageable way that won't break the bank. Now, you might be thinking that such a minor switch wouldn't save a lot. Surprisingly, it has a significant impact on your grocery bill.
How to Complete the 1p Challenge
And though many money-saving games take place over a long period of time, like an entire year, there’s good news for those of you who have resolved to save long after January 1 has passed: you can start a saving challenge any time you please.
This one habit might help you save more money than you realize. That’s the fun thing about these little challenges.This is a really fun challenge that is really random! This blogger in Arizona came up with this idea. Once a week, you deposit money into savings that matches the high temperature that day. If you are saving a small amount of money in short periods of time (daily or weekly) then you can keep your money in a piggy bank or jar. Make sure you cannot open the piggy bank or jar. If you are saving substantial amounts, then it is better to use a high-yield savings account. In that case, you will save more since you will also earn interest. What are the benefits of a money saving challenges?