For far too long I’ve tried to save money but always fail after just a few weeks. I’m one of those people that need a little extra reason, other than saving money of course. Therefore money challenges are the best option for me and possibly you too.
Some challenges are saving a certain amount per month, others per week, but there is one that saves money every single day.
How The 365 Day Money Challenge Works
On the first day the 365 day money challenge, you save just 1 penny. On day two you save 2 pennies, three 3 pennies, and so on. On day 365 you will save 365 pennies ($3.65) and have $667.95 total saved.
Interesting to note you never save even $5 in a single day. Anyone can find an extra penny a day even if it’s just walking down the street and looking for coins on the ground.
Make Sure You Save Everyday
Though you don’t save much in a day the habit of saving is what’s truly important. The hardest part about saving money is to start.
We make excuses like “I don’t make enough to save”, or “I’ll start saving when I get a raise” or anything else. However, if we just start saving then the habit will be formed and it will no longer be a something that causes stress in your life.
Saving a penny may seem useless and unnecessary, and we may forget at first but make sure you catch up when you do remember.
How $668 Can Change Your Life
$668 won’t send you on a huge vacation, it won’t buy you a car or even pay your rent or mortgage but you can go out for a nice dinner. You can cover an unexpected bill that may come up, go on a long weekend, or cover your Christmas spending.
Will having $668 after a year change your life? Not in major ways, but you can do something nice and you will have also built up a savings habit that can make it possible to save a $1,000, $5,000, $10,000, or $100,000.
What To Do After The 365 Day Money Challenge
Don’t ever stop saving. The 365 day money challenge can become the 730 day money challenge. Or better yet it can just become the everyday money task instead of a challenge.
The 365 day money challenge is all about building a habit, yes you save a certain amount of money, and yes you can use that money for many things, but creating habits that will last a lifetime is really the main goal.
If you find that without an actually named challenge you can’t save money and have already succeeded at the 365 day money challenge then find others. There is the 2-liter challenge, the 52 week money challenge, or any other alternative that saves you money.
Whether you continue to save money on your own or join the next money saving challenge make sure that you build the habit of saving. Build your strength and learn to live without in order to save for the future.