11 Money Saving Challenges (The Quick & Painless Way to Save Money)

The BEST money-saving challenges you need to try today!

We’ve all been there..

We were struggling to put away money every month, and some months spent more than we make.

Let’s make this be a thing of your past!

If you’re a little hesitant to start a saving challenge, I’m here to tell you; you shouldn’t be. Money-saving challenges can be downright fun and addicting.. after all, who doesn’t LOVE watching their own money grow?

I know we do, or we wouldn’t have been able to save $100,000 in our mid 20’s.

We love saving so much that we took it upon ourselves to find the best money-saving challenges for YOU!

If money savings challenges aren’t your thing, here are other creative ways to save money:

• 20 Things I Simply Stopped Buying To Save Money
• 50 Genius Frugal Living Tips You Should Adopt To Save Money
• 50 Easy Ways To Save Money In Your Spare Time
• The Best Free Debt Tracker Printable: Kiss Your Debt Goodbye

Where To Put All Your Money You’ve Saved From Your Saving Challenge

To get the most out of your money, you will want to put your money into a high-interest savings account.

We love banking with online banks. Not only do they have the highest interest rates, but our money is then out of sight out of mind.

We bank with CIT bank and highly recommend you check them out. Their rates are the best in the industry! You can check out our CIT Bank review here.

Before you jump headfirst into these AMAZING MONEY CHALLENGES, I wanted to give you a rundown of the different types of saving challenges you might come across below.

Money challenges to save money you might enjoy:

• Dime challenge
• 52-week money saving challenge
• 30-day money saving challenge
• 26-week money saving challenge
• 3-month money challenge
• No spend challenge

11 Money Challenges You Must Try

Here are 11 great money challenges you must try!

1| 365 Day Penny Challenge Reverse

This money-saving challenge is a penny challenge but in reserve. Yes, this is a reverse challenge, meaning you’ll be saving more money in the beginning, and then towards the end of the saving challenge, you’ll be adding less and less every day/week.

This one-year saving challenge will have you saving over $600 by the end of the year.

Head over to DIY with my Guy for more details and your free penny challenge printable.

2| 52 Week Savings Challenge

Check out this saving challenge chart! Money challenges couldn’t get any simpler than with this 52-week money savings challenge printable. If you are looking to put money away over the course of a year, slowly. This 12-month saving plan is the challenge for you!

This is a dollar-a-week saving and one of my favorite 52-week challenges! Make sure to give it a try.

Head over to Drugstore Diva and grab your FREE 52-week saving plan printable.

3| 8-Week Vacation Savings Plan

Are you heading on vacation or just looking to put away some cash quickly? If so, this is one of my favorite money challenges to save money fast. Best of all, if completed correctly, you can save $1000 in 8 weeks!

Yes, that’s a whole lot of money in a short period of time, but when going on vacation, you’ll need it. This weekly savings challenge will have you prepared for any last-minute vacation or event.

Grab your free saving challenge printable and learn more over at The Soccer Mom Blog.

4| 365 Day Saving Challenge

What if I told you saving your change for a year would make you over $650! Some money challenges take things to the extreme, expecting you to save a lot of MONEY from the get-go, not this one. If you’re starting out on your first money-saving challenge, this one-year money challenge is a great place to start!

Head over to Mission to Save to learn more and print off your free printable.

5| 26 Week Money Challenge

This is a biweekly money-saving challenge. If you are looking for a money challenge that you contribute to biweekly (when you get paid), this is for YOU.

Follow along with this challenge, and you’ll save $1400+ throughout the year. This is a great one-year saving challenge.

Learn more over at Saving Our Money and snag your free 26-week money challenge printable.

6| 3-Month Savings Money Challenge

This three-month money challenge is quick and painless. Every week you put away the same amount of money. After 12 weeks, you will have saved yourself a nice little chunk of money.

Read more about this money savings chart and grab this free savings list challenge.

7| The Penny Challenge

Do you have pennies lying around your home? If so, give this penny challenge a try. Better yet, this is a great challenge for younger children to participate in. This would be a great challenge for them to do alongside you while you tackle a bigger challenge.

Find a container and add a penny to it; every day, add one penny more than you did the day before. At the end of the year, you will have saved $667.95. How awesome is that!!

Read more about this challenge at Smart School House and grab your free penny challenge printable.

8| The 26 Paycheck Money Saving Challenge For Smaller Budgets

Like us, If you budget by paycheck, this is the money challenge you want to participate in. You add money every paycheck vs. every week. This savings challenge is great because you aren’t expected to put away some ridiculous amount of money every other week. This weekly savings plan is doable on a smaller budget.

Learn more over at Simple Money Mom and grab your free money savings challenge.

9| The BEST $5 Savings Challenge

Have you ever heard of the $5 savings challenge before? I think most of us have. The $5 monthly savings challenge is a lot of fun! How it works is every time you get your hands on a $5 bill, you store it away somewhere safe.

YES, every time a $5 bill presents its self, you put it into your savings. Whether that be in a jar or a savings account, hide it away. At the end of the year, count how much you were able to save.

Learn more over at Personal Finance Junkie

10| $1000 Travel Savings Plan

We all love traveling, am I right? Nothing is worse than not having the funds to enjoy your vacation fully. There is no better time to start planning for your next vacation than now!

Head over to FITNANCIALS to learn more about this travel savings plan.

11| The No-Spend Weekend Money Challenge

I love no-spend weekends, and I think you will too! No-spend challenges save you a lot of money!!! I’m talking about hundreds of dollars a month. We all spend the most money on the weekend. Having a no-spend weekend cuts out those costly weekend expenses.

Learn more about a no-spend weekend here and enjoy this AMAZING list of things you can do besides spending money.

So.. are you ready to change or form new money-saving habits?? Choose the money-saving challenge above that works best for you and get started today!

If you need a great place to keep all this money you’re saving? If so this is our bank of choice!

What’s your favorite money-saving challenge you’ve tried? Let us know your favorite saving challenge in the comments below!

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Related money saving posts:

• 7 Of The Best Cash Envelope Wallets For Budgeting Your Money
• 52 Week Savings Challenge (The Right Way To Start Your Year)
• 12 Best Budget Apps For Couples (Never Fight About Money Again)
• 4 Budgeting Methods You Must Try (When You Don’t Know Where To Start)