Figuring out a good way to start saving money can be really hard, especially when we feel like money is tight. A money saving challenge is a great way to kick-start your savings! Please feel free to print off this 10-week money saving challenge sheet and post it somewhere where you see it every day.
There are tons of different reasons why you may want to do a money saving challenge. You could be saving up money for Christmas, you could be saving up for a big trip, or just trying to build up your emergency fund. There is no wrong reason to try a money-saving challenge, all the reasons are the right reason.
So, let’s talk a little bit about the psychology around this short 10-week money saving challenge. I decided to have it start out at only $50 because $50 isn’t that much money for most people. Most of us are able to put $50 aside for the week and not feel it at all. Every week the amount increases by $25 until week 5 when it hits $150 and then it goes back down by $25 a week. I did this because it’s always nice to feel a little struggle to put money away and then have that next week be super easy.
If you’re going to attempt this short saving challenge, please leave me a comment and let me know! I’d love to talk to you again in 10 weeks and see how far you made it and if you succeeded in saving the whole $1000.
Thanks so much for reading,