Hello and welcome back to my blog!
In this blog post I will be sharing 5 of my favourite saving challenges 4 of which I have done or I am still completing.
There are so many saving challenges out there that you can do to save money.
Saving challenges are a great way to start your savings journey. If you are new to saving or paying of huge amounts of debt but want to have some savings then hopefully at least one of these challenges will help you get started.
! Quick disclaimer I did not create any of these challenges I have credited where I found the challenges and creators!
The 1p challenge is a great place to start. In 365 days you can save £667.95!
You save 1p for every day you do this challenge for example day 1 you put away 1p, day 2 you put away 2p and so on for 365 days.
I found this tracker online which shows you how much to put away each day.
Above is the tracker that I use, this tracker is great for adding amounts weekly, it is from The Skint Dad Blog please check out his page to download all his trackers.
I started this challenge last year when I was new to savings and I love it, I have nearly £400 saved and I don’t miss this money. The only downside to this challenge is that it takes 1 year to reach your goal. But if you are paying off debt this is a great place to start.
A lot of people do this challenge to save for holidays and Christmas.
I love this challenge! I am doing this challenge at the moment I love it.
This one doesn’t take as long as the 1p challenge, in just 31 days you can save £99.20!
It’s the same principle as the 1p challenge every day you put 20p away. So day 1 you put away 20p, day 2 you put away 40p and so on.
This is a picture I found online however I have made my own version as I started this challenge on 19th May 2020.
I have over £20 saved already. I will continue this challenge for the rest of the year. I should have over £600 saved by the end of the year which I will save for the fees of moving next year.
Lottiebudgets Money Monday
This challenge comes from Instagram and from a lovely lady’s page called @lottiebudgets. This challenge is by far my favourite and I am on my second run of this challenge.
Every Monday tick of a box with different amounts of money you have saved.
There are two versions of this challenge:
Money Monday Save £450 in 21 weeks I have already done this challenge once and I am on week 3 of round 2!
LottieBudgets Money Monday Quarterly Challenge
Money Monday Quarterly Challenge Save £500 in 13 weeks. I haven’t done this challenge but I would like to do this challenge at the end of the year.
Head over to @lottiebudgets instagram page to download her money Monday trackers and please give her a follow her page is full of saving motivation!
Doing this challenge makes Monday my new favourite day of the week.
Metro.co.uk Fiver savings challenge
I found this fiver savings challenge on the website Metro.co.uk and it looks amazing. Each week you put some money away, the amount you put away will increase by £5 each week for 52 weeks and at the end you should have saved £6,890 which is an huge amount of money!
Week 1 you put away £5, week 2 you put away £10 and so on.
I haven’t done this challenge but it’s one I’m going to consider for next year. Check out the tracker below, download it to your phone and get started.
I hope these challenges will give you some inspiration to start saving. They are fun, easy to do and will increase your savings.
Make sure to follow my twitter and Instagram account for updates on my savings journey and the tips and tricks I have learned along the way.