5 Fun Money Saving Challenges You’ll Actually Stick to

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I love gamifying savings. Anytime I can combine fun AND responsibility, I’m here for it. That’s why money-saving challenges are my jam! I’ve got five for you that you’ll actually be able to complete.

$5 Dollar Money Saving Challenge

With this challenge, you start with saving $5 and increase your savings by $5 every week. So week two you’re saving $10, next week you’re saving $15, and so on. By the end, you’ll save almost $7,000!

The only problem I have with this one is that the last 12 weeks you’re saving over $200 per week which can be pretty difficult.

I personally like to do the $5 challenge as an ascending and descending ladder where you go up to week 26 then you save $5 less every week. Instead of $200+ for 12 weeks, you’re only at $100-$130 for 12 weeks and you’re still saving over $3500!   

26-Week Money Challenge

This challenge is great for people who get paid bi-weekly or anyone who wants to reach a savings goal in 6 months. By the end of it you save $5,000, thus its difficulty is in the middle of the $7k and $3.5k versions of the $5 saving challenge.

I’ve seen so many versions of this challenge but the one I like the most uses an ascending pattern for four weeks (and keeps you pretty steady in the amount.) Since doing a four-week pattern six times only gets you to 24 weeks, on weeks 13 and 26 you extend the pattern to a fifth week. Like this:

1. $110
2. $175
3. $200
4. $250 then start over
5. $300 on weeks 13 & 26

That puts you at $5,010 so you could technically start at $100 the first week or save that $10 for a rough week.

No-Spend Challenge

In this challenge, you choose what you don’t spend on and for how long then put whatever amount you spent on that/those things the month prior (minus any slip-ups during the challenge) toward whatever financial goal you’re working toward.

Definitely check out my no spend month rules for a good explainer on no-spend challenges and check out my best selling book on amazon for an even more comprehensive dive into them.

Side hustle challenge

Find one thing in your budget that you want to pay for completely with a side hustle. Make it your mission to only spend what you can make on the side. Then throw that amount and any extra toward your financial goal!

This challenge is meant to give you the motivation to push a little extra at a side gig every week and hopefully bring in more money than you would’ve!

Pantry challenge

In this challenge, you’ll skip the grocery store and only eat from your fridge, freezer, and pantry for as long as you decide. You’ll get super creative with your recipes!

It’s meant to save the money you would’ve spent on groceries and eating out (most people’s largest expense besides their house) and clear the clutter in your kitchen so you eat at home more moving forward.

This one is actually in The Frugal Friends Workbook which has five more challenges that you can do on your own or with a friend

We’ve got the pantry challenge, a no-spend challenge, one for free activities, negotiation challenge, money conversation challenge and they’re all guided so you can learn things that you’ll take with you far beyond each challenge

Each purchase includes 2 digital downloads so you can split the cost with a friend and do the challenges together! If you like money saving challenges this is DEFINITELY one workbook you’re gonna want to get!