Hello, savvy savers! If you’re also tired of the same old routine of scrimping and saving, why not inject a little fun into your financial fitness journey? Especially if you are struggling with keeping up regular savings, having an incentive can change your motivation to do it quite dramatically. So we’ve rounded up a handful of bloomin’ good saving challenges that are not only effective but will also have you laughing all the way to the piggy bank (maybe – no guarantee).
A Penny for Your Thoughts Jar
Let’s start with a classic – the Penny for Your Thoughts Jar! Start by just placing a large jar in a central spot at home and encourage everyone in your household to drop their loose change into it. Not only will you be decluttering your pockets, but you’ll be amazed at how those pennies add up over time. It’s a simple yet effective way to cultivate a saving mindset in the family.
… And the Digital Alternative Jar
We’re aware, however, that nowadays, most things are handled digitally. That’s why we put a little spin on the traditional saving methods! Well, I say “we did”, but a lot of banking apps already have a designated option for this, too. Every time you make a purchase and it’s an odd count, simply round up to the nearest pound and stash the extra change away. You’ll see that this adds up quite quickly, too! Shove that into a designated savings account – bonus efficiency points if you pick one that also improves your credit score at the same time. Two birds, right there.
Okay – we know that for most of us, weekends are for fun – but they don’t have to break the bank. Simply declare one or two weekends a month as “No-Spend Weekends.” And then, get creative with free activities! Explore local parks, host a potluck with friends, or enjoy a fun board game night. Whatever it is, that tickles your fancy. You’ll be amazed by how much money you can save when you rein in those weekend splurges. Because remember, the best things in life are often free – or at least budget-friendly!
The ”Rainy Day” Fund
Let’s take things literally. A “Rainy Day” fund is exactly what it says on the cover – a fund for rainy, or rather bad days. And what better way to set it up than by, well, waiting for an actual rainy day! Instead of letting them dampen your spirits, turn them into a saving opportunity. Designate a jar or special savings account for your fund. Now, whenever the weather takes a turn for the worse, match the gloom with a contribution to it. Not only will you be prepared for unexpected expenses now, but you’ll also find a little, purposeful joy in turning a grey day into a bright financial outlook.
Simply “Brown Bag It”
We do love our meal deals and we do love our coffees. So much, in fact, that we are paying more than ever for them. Takeaway breakfast or lunchtime spending can often nibble away at our hard-earned cash – without us even realising it. Enter the “Brown Bag It” challenge! It’s easy, really. Commit by bringing your own lunch to work or school. Start with a month, see how that goes! You can get creative with your packed lunches, too. Not only will your walled thank you, but chances are, it’ll be way healthier too. Again, a double win!