Saving money is something we don’t always equate with being fun. That’s why I created this 30 day money saving challenge for you guys. You’re going to feel so good after you save $500!
Money saving challenges are so fun. If you treat saving money as a game and cross each day off in this free money saving challenge sheet, it’ll make saving money a little less daunting.
Not only that but after you save $500 in a month you’ll become motivated to keep saving.
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Money Saving Chart
Print out your money saving chart pdf and keep it somewhere you see often, like on the fridge or in your planner. This will make it so you don’t forget to save money each day and will keep you on track to be successful!
Make sure you read through this entire post before starting your challenge for guidelines and ideas for saving and making money for your challenge!
Grab your FREE 30 Day Money Savings Challenge here!
30 Day Savings Challenge Guidelines
You can go in order or skip around depending on what amount you want to save each day. Cross off each amount you saved on the money challenge print out. Pretty soon the thirty days will be up and you will have saved $500!
If you go in order, you may notice the amount you’ll save each week gets smaller as the month goes on. I did this on purpose because many people get paid at the beginning of the month and money seems to dwindle down by the end of the month because of bills and expenses.
That’s just my logic behind how I laid out the amounts, but of course, you have to do what works for you. If you have more money during the end of the month, you may want to randomly cross off the amounts and not follow the sheet in order.
Save $500 in 30 Days
There are so many money saving challenges out there. You may be wondering why 500 dollars and why this is a 30 day money challenge.
500 is just an arbitrary number to save, it’s a number that doesn’t sound as overwhelming as saving thousands of dollars. It’s a good starting off point.
Now keep in mind, I know not everyone will be able to save this amount in thirty days and that’s perfectly okay. If that’s the case, simply save half the amount for the day and make it a two-month challenge or longer. Make it work with your budget.
This is only a 30 day money saving challenge because it’s a short period of time to gain a win. Your 30 days will fly by and you will have saved $500. That is what I call a short term win and it will give you more momentum to keep saving.
How can I save $500 in 30 days?
You may be wondering how you are going to save $500 a month for this challenge. Not all of us have an extra $500 just lying around. Either you need to cut down on spending for the month or make a little extra money.
How To Make Extra Money
There are so many ways to make a little extra money.
Below are just some ideas. For even more ways to make money, just do a quick search online. There are tons of ideas out there
- Sell items or clothes you don’t use anymore online.
- Drive for Uber or Lyft.
- Rent a room out in your home.
- Babysit, walk dogs, etc.
- Make crafts and sell them on Etsy.
- Ask for a raise. Let your boss know the ways in which you add value to the company and see if there is room for a promotion. It doesn’t hurt to ask, right?
- Tutor students in person or online.
How To Save Money
Saving money to me is a lot easier than making extra money because usually there is something you can eliminate in your budget to put towards your savings.
To save money, look at all your spending as a whole.
Is there anything you can live without?
For example, you could skip Starbucks and brew your own cup of coffee at home. Cut down eating out and instead opt to make everything at home.
I mention food as an example because typically that’s the place that can easily get cut first and an area people usually overspend (me included).
My husband and I used to eat out once a week and it was around $40 for just the two of us. We can make a meal at home for a fraction of that cost, plus we’ll have leftovers.
You’d be surprised once you start cutting things out of your budget how much you can save over time!
Here are all my money saving tips for groceries.
(By the way, this is my favorite cash back app for saving money on groceries! It’s so easy to use!)
Even if you don’t want to make a budget, just write down everything you spend your money on in a month and see if there is anything you can do without.
Seeing everything on paper (or typed up) can really put your spending into perspective and help you see what areas you can improve upon.
Below are even more money saving tips for your 30 days money saving challenge.
Try to have a no-spend weekend.
Instead of going out to the movies and eating out, watch a movie on Netflix and make your own dinner. There are so many fun things you can do that don’t cost money.
Automate your credit card payments.
Nothing is worse than wasting money on a late fee. Automate your credit card payments so you don’t risk getting hit with a fee.
If you do end up getting a late fee, try calling your credit card company. If you’re in good standing with them they may end up waiving it.
When making a non-essential purchase, wait 24 hours.
This tip has saved me so many times! Wait a full 24 hours before buying something, this will drastically cut down on your impulse spending.
If after 24 hours you think you still need to make a purchase, then, by all means, go for it. But many times you’ll realize you don’t really need to make that purchase and hold off spending money.
Little purchases really can add up.
While a $5 fast food purchase or a $15 necklace may not sound like a lot, over time it can be a lot of money! Pay attention to those little purchases.
When possible don’t buy premade or precut food.
Fruit and vegetables that are precut are usually more expensive than if you just cut them yourself.
Same goes for premade food in the deli section of the grocery store. Make your own sandwiches or salads, don’t purchase them premade.
Know your why.
Why are you saving money? Do you have a goal in mind? Are you saving for an emergency fund, wedding, fun trip, etc.?
Knowing your why will make you more successful at saving because you have a purpose. Every time you might be tempted to buy something you don’t need, just think about your why.
Don’t just buy stuff because it’s on sale, buy it because you need it.
So many times people see a great sale and feel like they’re saving a bunch of money. The problem?
It’s nothing they normally purchase or really need. In the long run, if you’re buying stuff just because of the sale you are wasting money.
If you haven’t already, listen or read anything from Dave Ramsey.
I’m sure I’m not the first person to mention Dave Ramsey to you (and probably won’t be the last). He tells people hard things they don’t want to hear (me included) when it comes to paying off debt, saving and budgeting money.
But the thing is most of the time his advice is solid and you can learn so much listening to his podcast or reading his blog and books.
This post by Dave Ramsey has some great ideas for saving money that you’ll find helpful.
(Need more money saving tips?? At the end of this post, there’s a video I found with some really amazing ideas.)
After completing your easy money saving challenge, I hope it inspires you to save even more and possibly start an emergency fund (if you haven’t already).
$1000 Emergency Fund
If after the thirty days you feel inspired to save even more money, print out a new challenge and start saving for another thirty days. This is an easy way to start building an emergency fund.
It’s always wise to have at least $1000 set aside for emergencies and from there you can keep adding to your emergency fund. Emergency funds are beneficial for unforeseen expenses or if you or someone in your household loses their job.
Having an emergency fund will also give you some peace of mind because it always feels good knowing if anything happens, you’ll be covered financially.
Find out more about saving for your emergency fund!
30 Day Money Challenge Tips
I just wanted to give you a few additional tips for taking this 30 days saving challenge.
- Don’t wait until next week to start. It’s only human nature to put off starting new things but the truth is the longer you put it off, the less likely you are to start. You don’t have to wait until the beginning of next month or next week to start. Start today or tomorrow!
- Adjust your challenge to your personal budget. For some of you, you may be able to save $500 in 30 days, for others it might take months. That’s okay, take this challenge at your own pace.
- Take your money 500 savings challenge with someone else. This is something fun you and your friends, significant other or co-workers can do together. It’s great to create a support system when it comes to saving money. You guys can keep each other accountable.
- Acknowledge your success once you complete this challenge. Sometimes we don’t give ourselves enough credit. If your co-worker, friend or family member does a great job, you probably praise them for it. Why not do this for yourself. After you complete the challenge tell yourself what a great job you’ve done. It’s not easy to save money and that’s something to acknowledge internally.
Good luck with your saving money challenge!
Whatever your reason is for saving, whether it be to start an emergency fund, have some fun money, pay off credit bills, etc., good luck completing the challenge. You so got this!
I know if you set a little aside every day you’ll be able to save $500 in thirty days and even if you take a little longer to save this amount, that is awesome as well.
I’d love to hear from you guys once you have saved $500. Was it easy or hard? Are you going to take the challenge again?
Be sure to comment below with your success story or let me know what you think of this money saving challenge!
30 Day Money Saving Challenge
Download your FREE 30 Day Money Saving Printable PDF here!
Want more easy money saving challenges??
Check out these free printable money saving charts!
Saving Money Tips
Need more tips to save 500 a month?
Ria from The Whole Happy Life shares some really great money saving tips that I know will help you out. Check it out below.
(By the way everything is in Canadian dollars, so keep that in mind.)
Did this money saving chart helped you out?
I really hope you were able to save 500 in 30 days. Remember though even if you saved less than $500 but still saved something, that’s a victory!
Comment below and let me know if you have any questions or feedback about the 30 day savings challenge.
I’m here to help you. Let me know about any success or struggles you have when trying to save money.
About the Author
Annie Brown is a frugal living expert and the founder of Savvy Honey.
Her expert advice has also been featured in Yahoo Finance, BuzzFeed, GOBankingRates, Woman's Day, MSN, The Spruce Crafts, and more.