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3 Painless Money Challenges You Can Start Today


Saving money is something people try everyday. Some have the discipline to follow the old adage to “pay yourself first”, but for most of us we need to find other ways.

We are a competitive people so when we make something a “challenge” or “contest” we are more likely to do it in hopes of winning. That is why a money challenge could be the best thing for you. But which one would work best?

The Tried And True 52 Week Money Challenge

Most people have heard of this money challenge. It’s popularity and ease make it the perfect first choice. How it works is that the first week of the year (or anytime you want to start it) you save $1. That’s it just a dollar, then the next week you add another dollar. Every week after you continue to add a dollar so on week 38 you would be saving $38.

This is a easy to follow saving challenge that will leave you with a total of $1,378 at the end of the 52 week challenge.

You can make this easier by automating the challenge. Transferring money from your checking to a savings account every week, or even every month to make it come out to the correct amount at the end. Averaging it throughout the year ($114.83 per month) having your bank automatically take that out.

The weekly cash method works great though, you don’t feel the burn as much at the beginning, and by the end you’re used to putting money aside. Not only that but you have all that cash you can then take to the bank, or just go on a nice night out.


The Under Appreciated 365 Day Change Challenge

For some the weekly money challenge is too much, but who doesn’t have a few pennies to spare?

The 365 day change challenge is daily but requires much less money. On day one you put 1 penny in a jar, the following day 2 pennies, and so on and so on. On day 365 you are putting $3.65 in the jar (less then week 4 of the 52 week challenge).

At the end of the year you will have saved $667.95, less than half then the weekly challenge, but still a nice amount of money. With that you could go out to a very nice dinner, you could go on a long weekend getaway, or get new tires for your car.

The Unlimited Potential Dime Challenge

If you use cash to make purchases this may be the best money challenge for you. Every time you come across a dime in your daily life you set it aside. When you get home you put it in a empty 2-liter bottle, or a jar, or anything else available. Some days will be more profitable then others, but you may find yourself finding ways to get more dimes.

When getting change you may ask for it all in dimes, or you may buy an extra pack of gum so that you will get more dimes.

This challenge doesn’t have to be dimes either, you could choose pennies, nickels, quarters, dollar bills, or five dollar bills. The basic part is to pick something that you put aside and never spend and save it.

 Image courtesy of pakorn at


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