16 Best Money-Saving Challenges to Try This Year

Saving money doesn’t have to be boring. In fact, it can be fun, motivating, and even life-changing when you approach it as a challenge. Money-saving challenges are structured ways to set aside cash, build better habits, and create lasting financial awareness. Whether you’re saving for an emergency fund, a vacation, or just want to build discipline, there’s a challenge for every goal and personality. In this guide, you’ll discover 16 of the best money-saving challenges to try this year—complete with real-life examples and practical tips to help you stick with them.

1. 52-Week Money Challenge

Save money gradually each week. Start with $1 the first week, $2 the second, and so on until you reach $1,378 by week 52.

Real-Life Example: Amanda used this challenge to fund her holiday shopping for the year. She automated transfers each week and didn’t even miss the money.

2. No-Spend Challenge

Commit to not spending on non-essentials for a set period—usually a week or month.

Real-Life Example: Chris did a no-spend January and realized he was spending $400/month on unnecessary purchases like coffee, apps, and takeout.

3. Pantry Challenge

Cook only with what you have in your pantry, fridge, or freezer for a set period.

Real-Life Example: The Williams family saved $250 in one month by avoiding grocery stores and getting creative with their meals.

4. 30-Day Savings Challenge

Save $1 on day 1, $2 on day 2, all the way up to $30 on day 30. You’ll have $465 by the end.

Real-Life Example: Tom and Sarah used this to kick-start an emergency fund. They repeated the challenge every other month.

5. Round-Up Challenge

Automatically round up your purchases and save the difference.

Real-Life Example: Julie linked her debit card to a round-up app and saved over $500 in a year without thinking about it.

6. $5 Bill Challenge

Every time you get a $5 bill, stash it away. Do not spend it.

Real-Life Example: Tony saved $1,100 in a year just by consistently saving every $5 bill that came his way.

7. Weather Savings Challenge

Save an amount equal to the weekly high temperature. If it’s 75°F, you save $75 that week.

Real-Life Example: Melissa used this in the summer and saved $1,000 in 3 months.

8. No Online Shopping Challenge

Avoid all online purchases for a set timeframe.

Real-Life Example: After a 60-day Amazon detox, Rachel cut down on impulse buys and saved $600.

9. Spare Change Challenge

Only use cash for purchases and save all the change.

Real-Life Example: Derek’s jar filled up quickly—he cashed in over $300 in change after six months.

10. 12-Month Savings Challenge

Assign a different savings goal to each month—January for groceries, February for utilities, etc.

Real-Life Example: Linda focused on a different category each month and saved $3,200 over the year.

11. “No Eating Out” Challenge

Commit to eating at home for 30 days.

Real-Life Example: Josh saved $480 in just one month by cooking meals at home and meal-prepping on Sundays.

12. 100 Envelope Challenge

Label 100 envelopes from $1 to $100. Randomly select one each day and put that amount inside.

Real-Life Example: Laura and her fiancé did this to save for their wedding and collected $5,050 in just over three months.

13. $20 Weekly Challenge

Save $20 every week for an entire year—end total: $1,040.

Real-Life Example: Kyle set up a recurring transfer from checking to savings every Friday.

14. Zero-Based Budget Challenge

Give every dollar a job. Track all income and expenses and aim for a zero balance at month’s end.

Real-Life Example: Sarah used this challenge to take control of her finances and pay off $3,000 in debt in six months.

15. Holiday Savings Challenge

Start saving early for holiday expenses. Decide how much you want by December and divide it by the number of months/weeks left.

Real-Life Example: The Lopez family set a $1,200 goal and saved $100/month starting in January.

16. Social Media Detox = Savings Challenge

Take a break from social media and track how much you save by avoiding comparison-driven purchases.

Real-Life Example: After leaving Instagram for a month, Alicia avoided impulse beauty buys and saved over $400.

20 Motivational Quotes for Saving Money

“Do not save what is left after spending, but spend what is left after saving.” – Warren Buffett
“A penny saved is a penny earned.” – Benjamin Franklin
“Saving money is the best financial habit you can develop.” – Unknown
“Beware of little expenses; a small leak will sink a great ship.” – Benjamin Franklin
“Every dollar you save is a seed for your future.” – Unknown
“It’s not your salary that makes you rich. It’s your spending habits.” – Charles A. Jaffe
“Simple living, high thinking.” – Mahatma Gandhi
“Don’t go broke trying to look rich.” – Unknown
“Frugality includes all the other virtues.” – Cicero
“Thrift is poetic because it is creative; waste is unpoetic because it is waste.” – G.K. Chesterton
“The art is not in making money, but in keeping it.” – Proverb
“Live like no one else now, so later you can live like no one else.” – Dave Ramsey
“Money looks better in the bank than on your feet.” – Sophia Amoruso
“Saving a little today leads to a lot tomorrow.” – Unknown
“Financial peace begins with a single decision to change.” – Dave Ramsey
“You must gain control over your money or the lack of it will forever control you.” – Dave Ramsey
“Small savings add up to big dreams.” – Unknown
“The habit of saving is itself an education.” – T.T. Munger
“Discipline is the bridge between goals and accomplishment.” – Jim Rohn
“Success is the sum of small efforts repeated day in and day out.” – Robert Collier

Picture This:

Imagine reaching the end of the year and realizing you’ve saved over $5,000 without drastically changing your lifestyle. You open your savings account and smile. You’ve built better habits, resisted temptations, and created a cushion for whatever comes next. That’s what these money-saving challenges can do—not just build your bank account, but reshape your mindset around money.

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Disclaimer:

This article is based on personal experiences, common financial practices, and shared public strategies. It is for informational purposes only and does not constitute financial advice. Please consult a certified financial advisor before making major financial decisions.