Savings challenges turn a big goal into small daily or weekly steps. The best one is the one you'll stick with.
Popular challenges
- The 52-week challenge: save $1 in week one, $2 in week two, and so on, for $1,378 in a year (or run it in reverse)
- No-spend weekends: one weekend a month with no non-essential spending
- Round-up challenge: round every purchase up to the next $5 and save the difference
- Bill-cut challenge: cut one bill a month and save the difference
Tips
- Move the money right away, so it doesn't get spent
- Track progress somewhere you'll see it
- Do it with a friend or partner
General educational information, not financial advice. Penny Vaults isn't paid by any bank or lender.