Money saving challenges

We all want to save money, right? My motto is always, “I don’t need that, and I need to save my money for (insert important thing I should be saving my money for”. Sometimes, that motto turns into taking out cash or my credit card to pay for the item I didn’t need. How can we combat that? Easy. Challenge yourself. You can find many money saving challenges out there that will help you put money away for (insert important thing that you need to save money for). We have combined some the best (and easiest!) challenges to start you on the track of saving. Challenge #1: The $5 Savings Plan Every time you get a $5 bill back in your change, put it away. Put it into a special place in your wallet or purse so that you remember this is to be saved and not spent. The amount you can save is endless! This will also help you to use cash for purchases and limiting your amount to spend. Challenge #2: Penny Challenge This is as easy as it sounds. Put your pennies that you have away in a jar to help you save. That change that has been weighing down your purse or back pocket can go to good use! Also, why limit this challenge to just pennies?! SAVE ALL YOUR CHANGE! It adds up quickly. Challenge #3: Spending Worksheet Go grab your last month’s bank/credit card statements. Now, organize those purchases by if they created a memory (fun activity with the family, vacation, etc.), benefited your life (medications, personal care items, etc.), could live without (eating out at restaurants every week, coffee stops, etc.) and monthly must-pay (bills of any sort). Once you have organized the purchases, take a look at which ones could be done without. By eliminating those purchases, you can help yourself to save money, EASILY. These 3 challenges can help you balance your savings and even start to help you save a little more! Yeah, this may not be a ton that you are saving, but this can be a stepping stone into saving even more down the road! It’s all about self-discipline.