Woman smiling holding piggybank demonstrating savings challenges

5 Fun Savings Challenges That’ll Put Extra Cash in Your Pocket

ByMolly Simon

Saving money can feel like an uphill battle — but turning saving into a game can take the pressure off. (And, dare we say, make it fun?) 

Here are a few of our favorites. If you don’t see a plan that works for you, don’t fret: We have plenty more where these came from. 

1. The Pantry-Project Challenge

The Savings Challenge That Costs Nothing (And Tastes Great!)

We’ve all got a can of beans that has been waiting in the wings for its big moment on the menu.

    But that can isn’t the only thing that’s been languishing in your pantry. Those hidden gems are what this challenge is all about!

    See how long you can shop your pantry for meals, supplementing with fresh items as necessary. You’ll be floored by how much you’ve saved by the end of your project. And can you say: ‘Hello, clean pantry!’?

    2. The $20-Deposit Challenge

    The Savings Challenge That’s Dead Simple

    This one couldn’t be more straightforward: Deposit $20 every week in your personal savings account for 1 year. That’s it.

      It’s the simplest way to work your way up to $1,040 after 52 weeks. And because it’s so simple, it’s equally easy to personalize this challenge. If you have a week where you can’t set aside $20? Try $10! Have some extra cash laying around? Boost your weekly deposit a bit! 

      While this challenge is a good way to get some money in the bank, it’s more about the habit of consistent deposits. The little things add up fast!

      3. The Nickel-A-Day Challenge

      The Savings Challenge Best Done With a Huge Jar

      Putting a nickel into a piggy bank feels distinctly old-timey. But what if those little silver coins added up to a whopping $3,339.75 by year’s end?

        In this challenge, simply increase your savings by a nickel every day: Start with 5¢, then 10¢, and so on, until you make your last deposit of $18.40, 365 days later. (If you hit your daily savings limit before that last deposit, no worries! Just keep going within your budget.)

        This is an amazing cash savings method — and if you use a big jar to collect your change as it accumulates, you’ll have the thrill of watching your money literally stack up. (It’s a great way to get kids excited about saving, too!)

        4. The $1-Change Challenge 

        The Savings Challenge That Builds Savings From Spending

        Do you find that your dollars simply dissipate into thin air? This is a good way to hang tight to those loose bills. 

          Very simply, if you get a $1 bill in change from a purchase, it goes towards savings! You choose how long you want to do this challenge — a month, a season or even a whole year could add up big time. 

          Just make sure you use cash frequently for this challenge to be worth it. We always recommend going on a cash diet, especially if you’re working your way out of debt.

          5. The Tax-Your-Vices Challenge

          The Savings Challenge That Makes the Most of Indulgence

          This one’s for the party people, the smokers, the couch potatoes or anyone with a habit they’d like to kick.

            It’s also pretty simple: Every time you indulge in a “vice,” you have to pay yourself $1, $5, $10 or some percentage of your treat’s bill. 

            It’s a great way to understand how much of your money is going to non-essentials — and to counterbalance short-term splurges with long-term goals. 

            Looking for more ideas to build wealth and manage your finances? 

            Check out our other tips on financial planning, budgeting and more!