Best Savings Challenges to Try This Year for Big Bucks Fast
Want to save money but find budgeting as exciting as watching paint dry? Savings challenges turn the snooze-fest into a game—and some even trick you into building better habits. Whether you’re saving for a vacation, an emergency fund, or just want to stop hemorrhaging cash on impulse buys, these challenges make it painless (and maybe even fun).
The Classic 52-Week Challenge: Slow and Steady Wins the Race
This one’s a crowd favorite because it’s dead simple. Start by saving $1 in week one, $2 in week two, and so on until you hit $52 in week 52. By year’s end, you’ll have $1,378 stashed away—without feeling the pinch.
Pro Tip: Reverse It for Less Stress
If the idea of saving $200+ in December gives you hives, flip the script. Save $52 in week one, then decrease by $1 each week. You’ll front-load the effort while motivation’s high and coast later. Genius, right?
The No-Spend Challenge: Cold Turkey for Your Wallet
Pick a timeframe (a weekend, a week, or—if you’re brave—a whole month) and spend money ONLY on essentials: rent, groceries, bills. Everything else? Off-limits. No coffee runs, no “it’s only $5” Amazon add-ons, nada.
- Level 1: No-spend weekend (baby steps)
- Level 2: No-spend week (intermediate chaos)
- Level 3: No-spend month (for the truly unhinged)
You’ll quickly realize how much “little” purchases add up. FYI, your local barista will miss you.
The Spare Change Round-Up: The Lazy Saver’s Dream
Apps like Acorns or your bank’s round-up feature automatically save your digital spare change. Buy a $3.70 latte? The app rounds up to $4 and squirrels away $0.30. It’s effortless, and over time, those coins turn into real money.
Bonus hack: Crank up the multiplier if your app allows it. Round up to the nearest $2, and watch savings grow faster.
The “Ditch One Vice” Challenge: Savings With a Side of Self-Improvement
Pick one non-essential habit (daily takeout, streaming subscriptions you never use, that “self-care” candle addiction) and pause it for a month. Redirect the cash to savings. Two birds, one stone—you save money AND break a habit that was probably draining your wallet anyway.
Popular Targets for Elimination
- Food delivery apps (RIP, convenience)
- Unused gym memberships (we all have them)
- Premium coffee (instant exists, I promise)
The Biweekly $20 Challenge: Sneaky Savings for Paycheck People
Every time you get paid, stash $20 in a separate account. That’s it. If you get paid twice a month, you’ll save $480 a year. If you can swing $50 per paycheck? Now we’re talking $1,200. The key? Automate it so you never see the money and can’t “accidentally” spend it.
The Pantry Raid Challenge: Eat Down Your Kitchen Before Buying More
Your pantry is probably a graveyard of half-used pasta, mystery spices, and canned goods from 2019. Challenge yourself to eat what you already have for a week (or longer). You’ll save on groceries and finally use that jar of artichoke hearts. Win-win.
FAQs
Which challenge is best for beginners?
The spare change round-up or biweekly $20 challenge. They require minimal effort and won’t make you rethink your life choices.
What if I miss a week in the 52-week challenge?
No guilt! Double up the next week or adjust the amounts. The goal is progress, not perfection.
Can I combine challenges?
Absolutely. Try the no-spend weekend + pantry raid for a double savings boost. IMO, stacking challenges is where the magic happens.
How do I stay motivated?
Track your savings in a visible place (spreadsheet, jar of cash, app). Watching the number grow is weirdly addictive.
What if I don’t have extra money to save?
Start tiny. Even $5/week adds up. The point is building the habit—you can scale up later.
Go Forth and Save (Without the Suffering)
Savings challenges work because they turn abstract goals into concrete actions. Pick one, tweak it to fit your life, and enjoy watching your bank account grow. And if you fail? No big deal—just try again next month. Your wallet will thank you.
