Something about the task of conserving a dollar a day does not appear to be enjoyable. Certainly, everyone desires more cash to spend on their wants and needs, but where do you start? It conjures up images of giving up fun activities or eating the same meal over and over in order to save money.
However, as you observe your savings grow, adjusting your attitude to saving money may drive you to create healthier habits. Making saving a game, even if it’s a small one, can help you stay motivated to save dollar a day.
And, while many money-saving games last a long time, such as a year, there’s good news for those of you who made a resolution to save long after March 1 has passed: you may start a saving challenge whenever you like.
To make your money-saving attempt a little more entertaining, try one or more of these eight money-saving challenges. You can make any of these games work for you to save dollar a day, whether you want to handle your money digitally or with cash on hand.
1. 52-Week Challenge
So what if it’s already the middle of March or later? In the early phases of this task to save dollar a day, catching up is simple. Increase your savings over time, starting with $1 in week one, $2 in week two, and so on, until you reach week 52, when you put down $52.
After a year, you’ll have $1,378 in your bank account, which you may put toward a big purchase you’ve been saving for or an unforeseen expense down the road. Local Government Federal Credit Union offers a downloadable chart to assist you in staying organized.
2. Dollar Saving Challenge
Every day, put aside a dollar a day. That concludes our discussion. Do this for the entire year to get your savings fund off to a good start reasonably. Although this challenge only pays out a maximum of $365, it can go a long way toward teaching you how to save consistently and how tiny amounts pile up over time.
3. $20 Savings Challenge
Is saving $1 per day too simple for you? Increase your savings by a factor of ten. Consider setting away $20 per week for the full year. You’ll end up with $1,040, thanks to those $20s!
4. The 26-Week Challenge
Do you get paid every two weeks? Consider the Redwood Credit Union’s 26-week savings goal rather than the 52-week challenge. Over the course of the year, you’ll save the same amount, but with set amounts changed for each of your biweekly pay periods. You may also pick whether to save dollar a day at the start or end of the year.
5. Roll the Dice Savings Challenge
Every day, take a six-sided die and roll it. Worst-case scenario: You save $6 every day for a total of slightly over $2,000 over the course of a year. However, in this case, the “worst” case scenario is excellent news for your savings account.
6. The 33.3 Challenge
Do you want to save a lot of money quickly? Try to save $1,000 in 30 days. If you think of it as $33.33 each day, it may seem more feasible. This challenge is excellent for someone who has a lot of extra cash but needs a little push to cut back on frivolous spending.
7. Bowl-Grab Challenge
Write an amount on each of the 30 scraps of paper (or 31, for those unique months). To keep things fresh, you could do a mix of $1 and $5 slips, with a $20 scrawled down on a handful. Place all scraps in a bowl or cup and take one out every day for a month. Set aside the amount stated on the paper, and at the end of the month, rejoice in your savings.
This is a nice exercise to complete with your housemates or if you have children at home. It not only makes saving a group project (you might designate rotational days, so everyone gets a chance to pull amounts and donate), but it also gets everyone talking about the process of small-scale saving.
8. No-Spend Challenge
Instead, then focusing on how much dollar a day you can save over a period of time, try to see how little you can spend. A no-spend challenge might be completed in one day, a month, or even longer. You can’t spend any money throughout the challenge except for normal bills and any other regular costs you’ve already prepared for. Take the “extra” money you’ve found out of your checking account and put it in a savings account at the end of the challenge.
The longer your no-spend challenge lasts, the more advanced planning you’ll need to be successful. Well, these were the saving challenges you can follow to stay on budget. Another easiest way is to shop your favorite items from FashionSaviour and RedeemOnLiving. They have truly verified coupons and codes that will definitely help you to save dollar a day and also in shopping.