It’s a lot easier to spend money than it is to save it, and it’s a lot more fun too. How can you level the playing field, so saving becomes almost as fun as spending? By using challenges that turn it into a game that you and the entire family can enjoy.
Here are some of the most popular money-saving challenges that you can start trying today:
No Spend Challenge
The title of this challenge may not sound fun at all. And, depending on your spending habits, it may sound impossible.
What does the No Spend Challenge entail? As its name suggests, you pick a certain amount of time where you vow not to spend any money.
For instance, pick a weekend or even a week where you won’t purchase anything. As long as you pay your bills ahead of time, stock your fridge, and ensure you have gas in the car, it’s doable. Best of all, this challenge will cause you to become creative.
If you don’t want to waste gas beyond going to work or school, you can think of ways to entertain yourself at home. Or, if you need a certain tool to complete a task, you can think of what you already have to get the job done.
If there ever was a perfect time to start the No Spend Challenge, it’s now where you’re more likely to be stuck at home.
Pantry Challenge
Have you noticed how you go to the store to buy more food without eating what you already have? If you’re like many, this probably happens in your home. And you probably have plenty of items sitting in your fridge or cupboard that haven’t even been opened.
Instead of wasting money on new food, the Pantry Challenge has you eat what you currently have. This not only cleans up your kitchen, but it can also save you a ton of cash.
As long as the food isn’t expired, the Pantry Challenge, like the No Spend Challenge, will cause you to be creative when it’s time to eat. And as you make some meals, you may notice that you’ve been buying things you don’t even eat. This can save you money in the future by being more selective with your purchases.
Keep All The Change Challenge
This challenge is rather easy to figure out, as all it has you do is save your change instead of spending it.
Whenever you buy something and get some coins back, put them in a jar or somewhere safe, and don’t touch them for a year. Once the 12 months are over, count up what you have. You’d be surprised at how much you can save by keeping your change untouched, and this can motivate you to start saving dollars regularly.
If you want a more high-tech version of this challenge, download the Acorns app. Instead of keeping spare change, the app rounds up purchase totals and puts it into an investment portfolio. It’s a great way to save and begin investing if you do any shopping online.
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