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.
Money Saving Challenge
Print out your money saving challenge 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 printout.
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 by the end of the month because of bills and expenses.
That’s just the logic behind how I laid out the amounts, but of course, you have to do what works for you.
If you have more money at 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 point.
Keep in mind that 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’ll give you a win in a short amount of time and will give you momentum to keep saving money.
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.
(THIS POST MAY CONTAIN AFFILIATE LINKS; PLEASE READ MY DISCLAIMER FOR MORE INFO.)
One way to earn cash from Paypal is by taking surveys, shopping online, and watching videos.
Sign up here with Swagbucks today & you’ll get a $5 bonus!
Keep in mind you aren’t going to earn a ton of money, but every little bit helps.
Other ways to earn extra money:
- 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.
- Tutor students in person or online.
How To Save Money
Saving money 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 on 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 where 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 and 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 put your spending into perspective and help you see what areas you can improve upon.
Below are even more money saving tips.
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 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 fees.
If you get a late fee, try calling your credit card company. If you’re in good standing with them, they may waive 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 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.
The same goes for premade food in the deli section of the grocery store. Make your 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.
Whenever 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 need. In the long run, if you’re buying stuff just because of the sale, you are wasting money.
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 out 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 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 for saving money. You guys can keep each other accountable.
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.
Download your FREE 30 Day Money Saving Printable PDF here.
More Money Saving Challenges
- $5 Daily Money Saving Challenge Chart – Save $1820 In A Year
- Christmas Money Saving Chart – Save $500 For Presents
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.