
If you’re anything like me, you’re attempting to figure out any way you possibly can to save money, whether it be buying a house in the next year, buying new furniture, buying Christmas gifts, or even investing in your financial future.
I’ve put together a list of savings challenges guaranteed to help you save money. I personally will be following a few of these challenges over the next year, intending to buy a house in 2022.
Zero Out Savings Challenge
Every Friday, transfer the last three digits of your bank account to savings. So, for example, if I have $505.25 in my bank account on Friday, I would transfer $5.25 to my savings account.

365 Nickel Savings Challenge
The 365 Nickel Saving Challenge works by setting aside one nickel on day one, two nickels on day two, three nickels on day three, and so forth throughout the year.
If you begin the 365 Day Nickel Savings Challenge on January 1, you should deposit $0.05 or one nickel into a jar or your savings account. Then on January 2, you deposit two nickels.

So, on day 100 of the nickel challenge, you will be depositing $5.00. After 365 days of this challenge, you would be depositing $18.40 in a day. You can choose to do physical nickels or deposit the money that the specific day calls for. By the end of the year, you will have saved up approximately $3,300.
26 Week Savings Challenge
On the first week’s payday, save $3.00. Every payday thereafter (every 2 weeks), add $3.00 to the number saved the previous pay (ex. Week 1: save $3.00, Week 2: save $6.00, Week 3: save $9.00, etc.)
By week 26, you will have saved $1,053 and can put it towards your goal.

52 Week/26 Savings Challenge
Save $1.00 on week one and work your way to $52.00 on week 52. If you do this 26 times, then by the end of the year, you’ll have $1,378 in savings.
Wednesday Weather Challenge
This challenge is a great way to randomize your savings. Each Wednesday, transfer the temperature outside to your savings. For example, if it’s 53 degrees outside, then transfer $53.00 to your savings account.

One Month Savings Challenge
The goal of this challenge is to save $300.00 in one month. Save $75 per week or $150 every two weeks. Or you have the option to choose your own amount to save. Count up what you have saved at the end of the month and put it towards your goal.

100 Envelope Savings Challenge
Label one-hundred envelopes one through 100. Each day, pick 1 envelope randomly, then put in the amount of cash equal to the number on the envelope. When all 100 envelopes are full, you will have $5,050.
Another way to do this is to use a printout like this one here from SimpleBudgetDesigns on Etsy. You can close your eyes, pick a random number, and then transfer that amount into your savings account. After you’ve transferred that amount into your savings account, color in the corresponding envelope for the amount.

30 Day Meal Plan Savings Challenge
Save $10 or $20 each time you make your work lunch or a meal at home. Save between $2,600 – $5,200 in one year.
Coffee Break Savings Challenge
Save $2.75 each time you don’t buy coffee. Save $700-$1,000 in one year.
14 Day Savings Challenge
Complete one daily money task for 14 days to learn how to save. To kick this challenge off correctly, the first couple of days need to focus on the basics of savings.
One of the 14 days’ tasks is to pay yourself first on payday. If you’ve never heard of it before, paying yourself first means putting money into your savings account before paying your monthly living expenses and making discretionary purchases.
You can learn the rest of the 14-day tasks here.
I plan on starting these savings challenges in October 2021. If you’d like to join me or follow along with my progress, I’ll be posting my progress on my Instagram for CoffeeColumnist every two weeks.
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