Everyone wants to save. But most people never actually get around to doing it. This is because society makes saving into this complicated painful process. With graphs and budgets plotted on excel spreadsheets. And endless YouTube videos on all the things you need to do; you get scared before you can even start. So it’s no wonder you never get anywhere.
But what if I told you there’s an easy way you can save up to $1456 without even trying to. And that’s the 365 Day Money Challenge.
What is the 365 Day Money Challenge?
The challenge is a simplified and fun way to save money. Basically, you start your week on a Monday by saving $1. If you want you can put it in a jar or piggy bank. Having a physical place to keep your savings can actually motivate you to save money. Or serve as a convenient daily reminder. And since $1 is such a small amount you won’t feel the slightest pinch putting it aside.
Then you save $2 the following day. And $3 the next. So on till you’re putting aside $7 on Sunday. After that, you simply reset the process by saving $1 on Monday again.
This challenge is a fun way to save your money because you aren’t setting aside a lump sum at the beginning of the money. By setting aside a dollar or two every day you get to enjoy the feeling of actively saving. And can enjoy the accompanying sense of fulfillment.
Saving isn’t something you can do in a day, a week or even a month. It takes constant daily dedication to actively save money. And the 365 Day Challenge is the perfect implementation of this trick. Because doing a little every day can often go a long way.
Following this technique means saving $28 every week. Adding up to $112 a month. And around $1456 in the entire year. That amount can go a long way when you need to buy your friends and family endless gifts in December. Or maybe go celebrating for the New Year.
But this isn’t the only challenge out there. There are 52 weeks in a year and the 52 Week Challenge makes the most out of this time.
What is the 52 Week Challenge?
This challenge increases the saving amount in weekly increments. So you save $1 every day for the first week. Then $2 a day for the second week. And so on. With this challenge, you can save a considerable amount of money.
However, the problem occurs when you have to save upwards of $49 a week in December when people generally have the most expenses during the holiday season. Additionally, you might have more expenses in some months than others making the process a bit inconvenient. For example, if you no major expenses in the first half of the year but a lot of expenses in the latter half of the year it will be harder to follow this challenge.
Two Dollar Challenge
Of course, another option is the Two Dollar Challenge which simply involves putting aside $2 every day. Granted this requires a lot of dedication. But if you do it right you will end up with an extra $720 on Christmas next year.
So as you can see there are countless ways to save a bit of money. You can plan around holidays and other major expenses you’re expecting in the coming year.
But it requires dedication and the desire to save. Missing a single day will upset your entire routine. Additionally, following these techniques will teach you valuable lessons about following through on a task. And putting in the required work every single day.