3 Money Challenges To Help You Save

7:39:00 PM Rhea Mocorro 0 Comments

Image from cheatsheet

When it comes to money challenges, we might hover back to the 52 Weeks Money Challenge. However, there are still many money challenges that you might want to check in case you are having difficulty doing the 52 weeks money challenge.

Bottom line, these money challenges will help you to spend less and save more. Hence, if you are keen on saving your money, these money challenges might give you that extra push. Even more, this will help motivate you in order to finish it. As such, here are other three money challenges you might want to face head on.

Money Challenge 1: No Spend Challenge

Based from the name itself, this means you are not going to spend your money at all. For your wants that is. It would be literally impossible not to spend for your needs. In here, you will need to be able to find ways for you not to save money for anything at all. The good thing about this challenge is that you will be forced to be creative in order to find ways for you not to spend. In order to make this challenge notches harder, you might want to spend nothing for a number of days. For instance, you can do your needed groceries for an entire week then see to it that during this course you will not spend money at all except for transportation. Depriving yourself of the things you usually buy will help you appreciate your money. Even more, you will save a lot of money in the process.

Money Challenge 2: Coins/Bills Challenge

This challenge is relatively simple. You would just need a piggybank. You begin the challenge by deciding on what bill to save for a day. Whenever you will have that bill in your wallet, you will put one in your piggybank. For instance, if you decide on a 100 pesos bill, when you have one in your wallet you put it in your piggybank. This also holds true for your coins. If you have coins after a day’s work in your wallet or your pockets, you will automatically put it in your piggybank.

Money Challenge 3:  Debt Free Challenge

Start with a challenge that can literally help your future self and that is the debt free challenge. Simply imagine the amount of money you would be saving if you are no longer paying for your debt. That is why, don’t create debts today and the days after. This is the very essence of the debt free challenge. Don’t accumulate anymore debts. See to it to keep your credit cards. Skip going to tempting stores and sites. And learn to live within your means.

These are challenges to help you jumpstart your savings. In the end, it will still depend on you whether you embrace the challenge or not. Remember, once the habit is formed you can be able to increase your savings immensely. These challenges can certainly help.
So, challenge accepted?


P.S To those doing the 52 Week Money Challenge, it is Week 24 already! Did you deposit the next amount yet?

P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too. 

P.P.P.S I am also sharing my stock market secrets and information via these resources.

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