Saving money can be difficult, but it’s so important.
There are many people who don’t have a savings plan set in place because they just don’t know where to start.
That’s why I love a good money saving challenge.
But, I’ll be honest . . . I don’t really like a lot of savings challenges that I see out there on the internet.
Why? Well, they are too complicated or overwhelming.
Personally, I find it hard to get excited about a money saving challenge that requires too much brain power to understand.
Thanks why this post is all about 3 different money saving challenges that are all straight forward and easy to understand.
By the end of each challenge, you’ll have easily saved $1,000, which is a great start to any savings account.
I’ll go into detail below for how to approach each challenge, but before that, make sure to download all 3 of the challenges. They each have the same concept, but a different time frame.
For example, there is a 3 month, 6 month, and 1-year-long challenge, each to save $1,000!
If you want to get all 3 challenges, click here to access them!
How each money saving challenge works
The 3 following challenges each work the exact same way.
Your first step is to choose which challenge you want to start with. You have the option to save $1,000 within 3 months, 6 months, or 1 year.
From there, all you need to do is pick one of the amounts listed in the squares, set that amount aside in your savings account, and then cross it off the list.
Yep, it’s as easy as that. Just pick an amount, save that much for the week, then cross it off.
Each square represents one week. Once all the squares are crossed off, you’ll have successfully saved $1,000!
Pretty cool, right??
Related – – – > 7 Days of Challenges to Get Your Finances in Order
The first challenge is all about saving money in a short amount of time.
If you have no savings set up, then I recommend starting off saving in a more aggressive way so that in only 3 months time you have a total of $1,000 in your savings account.
Another reason you might want to save this much money in such a short time is to pay off some debt.
Debt sucks! Seriously, it sucks.
I’ve had my own experiences with debt so I know how crippling it can feel if you have debt looming over your shoulders.
Start knocking down that debt by saving $1,000 in 3 months.
Personally, I love money saving challenges that save a lot of money in a shorter time frame, so I hope you enjoy this one.
A bonus to this challenge is that if you complete it 4 times in 1 year, you’ll have $4,000 saved!
The next challenge lets you put aside a smaller amount each week because it’s a 6 month challenge.
The highest amount you’ll have to put aside weekly is only $55, and the lowest amount is $20.
These are totally realistic amounts!
Some of the reasons you might want to save $1,000 within 6 months is so that you can have money going towards something like vacation. Or, you might want to save this amount of money within 6 months so that you can put it towards a school tuition bill.
Either way, 6 months is a great time frame for a money saving challenge.
Saving $1,000 within 6 months also gives you time to do the challenge twice so that you can have a total of $2,000 saved within one year.
This money saving challenge requires as little as $10 a week and at most $30 a week. These are extremely realistic amounts that almost anyone can achieve.
You might be thinking that saving $1,000 in one year is not a lot of money. The truth is that a savings is a savings.
If you find it difficult to save money, then it’s perfectly fine to start by taking a longer amount of time to save. $1,000 in your savings account within a year is still better than no money in your savings account.
You can also combine this year-long challenge with the 3 or 6 month challenge. The 1 year challenge can represent saving for a long term financial goal and the 3 or 6 month challenge can represent a shorter-term financial goal.
As long as you are actively saving money, it doesn’t really matter how you are doing it. Just make sure you stay committed.
I’m always so excited when I hear that people are actively saving money. Establishing a healthy savings account is always a great idea and the sooner your start, the better.
And don’t forget to download your challenges above!