I just bumped into this blog post and thought I'd share it
with my readership ! In today's busy world it's often very hard to be
a consistant saver ! Often it's because we don't have a plan or goals
that keep us on track . Take a look at some of the ideas in this post
and watch the dollar$$$ pile up !
Have you ever tried a money-saving challenge? I know many people consider doing this at the start of a new year because it feels like the time to re-examine your goals and create new ones. But you don't have to wait for that; you can start now.
I like challenges because I'm a very competitive person and I love to win. So if I'm trying to reach some goal, I turn it into a challenge.
I hate to lose.
I was surprised to find so many different money challenges like:
- The $5 Saving Challenge - Save every $5 bill that comes into your possession. Put it aside into a dedicated jar or envelope and watch the bills stack up.
- 365 Penny Saving Challenge - Save a penny on the first day of the challenge and add a penny to your savings balance every following day. For example, day one you save one penny, day two you save two pennies, which will give you a total of three cents in your savings account. Day three you save three pennies, which will give you a total of six cents in your savings account. You repeat this process for 365. (Not a fan of this one)
- 52 Week Money Challenge - Save an increasing amount each week. The dollar amount corresponds with the week. So the first week you save $1, the second week $2, the third week $3 and so on. On the 52nd week of the year, you save $52. By the end of the year, you will have $1,378.
Which is just ok. But in the situation I'm in right now I can do better than that, and that's when I found the 52-Week Money Challenge to $10,000
- You start off saving $125 the first week
- $150 the second
- $175 the third
- $300 in the fourth week and repeat
The very last week is even more aggressive, but it's just for one week. You can check out the money-saving chart here.
Which Money Saving Challenge Would You Try?