Looking for a fun and motivating way to save some money? Take this daily money saving challenge!
You, of course, don’t have to make a bank deposit every day, the daily savings challenge is set up for you to make a deposit once a week for 52 weeks (an entire year).
How much do you save doing the 52 week challenge?
You’ll save $5 per day, which comes out to $1820 a year! Think of what you could do with an extra $1820!
You could put it towards something fun, pay bills (not so fun but necessary) or start an emergency fund with it.
$5 Daily Savings Challenge
Now you may be wondering, why $5?
If you set an unrealistic savings goal, you may never stick to it.
Some challenges have you saving over $100 a day, which is great for some people but not achievable for others.
Whatever your budget, $35 a week should be pretty doable. If you don’t think you have $35 to spare, take a look at your budget and see if there are any expenses you can cut.
Before getting started with your money challenge, be sure to read all the helpful tips and directions below.
I even created a free daily savings challenge printable for you to keep track of your deposits. (There’s a link after the tips.)
Daily Money Saving Challenge Tips
Earn extra money through Swagbucks to put towards your savings.
Get cash from Paypal to watch fun videos, complete surveys and shop online.
Right now if you sign up with Swagbucks through my link here, you geta $5 bonus!
(By the way, if you don’t use Paypal, you can also redeem your earnings for all sorts of gift cards from places like Amazon, Target and Walmart.)
Set up an automatic transfer so you don’t forget to make your weekly deposit.
This makes it so much easier than worrying about making a transfer every week. You also won’t miss making a deposit because it is automatic.
Find new ways to save and budget your money.
One of the most common areas people bleed the most money is groceries. This may be the easiest way to find an extra $35 each week that will go towards this challenge.
Here are some of my best ways to save money on groceries (without coupons).
Also, this post from Dave Ramsey will give you a bunch of simple ways you can save as well.
Feel free to skip a week if you’re tight on money.
Maybe you really can’t spare $35 a week sometimes. That’s totally okay, just skip it and resume once you have more money to spare.
Don’t forget to check off your weekly deposit to keep track of your savings.
The $35 amount is already listed on your challenge printable, all you need to do is check the box!
Put your challenge somewhere you’ll see every day.
This will help you not forget about the challenge. Put it on the fridge, in your planner, bulletin board or anywhere visible.
Speaking of doing things daily, getting in the habit of saying money affirmations to yourself will make it easier for you to stay on track saving and making money.
It really helps with your mindset.
Grab your Daily Savings Challenge Printable here!
Save Money Daily Challenge Directions
Print out your Daily Money Saving Challenge printable.
- You’ll be saving $5 per day. This comes out to $35 that you will deposit into your bank account each week.
- Check off your deposit every week.
- It’s that easy! Watch your savings grow and in 52 weeks you’ll have $1820 saved! Woohoo!
Good luck with your savings challenge, I know you can do this! Let me know in the comments below if you have any questions about the challenge.
Read Next: 30 Day Money Saving Chart: Save $500
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daily money saving challenge!
About the Author
Annie Brown is a frugal living expert and the founder of Savvy Honey.
Her expert advice has also been featured in Buzzfeed, MSN, Yahoo Finance, GOBanking Rates, Woman's Day, The Spruce Crafts, and more.