5 savings challenges for beginners
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Saving... it sounds so simple, but let's be honest: putting money aside can be quite challenging. You have fixed costs, fun outings, and unexpected expenses, and before you know it, your salary is gone. But what if saving could actually be fun and motivating?
Savings challenges help you make saving a habit. By taking on a challenge, you stay motivated and see your savings grow in a structured way. In this blog post, I share five simple savings challenges for beginners. Whether you want to book a vacation, build a savings account, or are simply curious how much you can save without realizing it, there's sure to be a challenge that's right for you.
Saving becomes even easier with the right tools. Think budget binders , cash envelopes , and handy savings trackers to monitor your progress.
1. The 100 envelopes challenge
This is one of the most popular savings challenges, and for good reason. It's simple, flexible, and you can save a significant amount with it.
How does it work?
The 100 Envelopes Challenge has envelopes numbered 1 to 100. Each day or week, you draw a random envelope and put the amount printed on it inside. If you draw number 37, you put €37 inside. Ultimately, you'll save €5,050 this way.
Why is this challenge perfect for beginners?
- You decide how often you take an envelope, which keeps it manageable.
- It's a nice surprise how much you save each time.
- At the end of the challenge you will have collected a significant amount of money.
Helpful tools:
- A5 binders to keep your envelopes neatly organized.
- Dashboards for extra motivation.
2. The small change challenge
Do you always have change in your wallet or loose around the house? Then this challenge is perfect for you.
How does it work?
The small change challenge is very simple: any change you have left over, put it in a piggy bank or envelope. Whether it's 50 cents or 5 euros, everything goes in the piggy bank. After a few months, you count how much you've saved.
Why is this challenge perfect for beginners?
- You save without really thinking about it.
- Small amounts add up faster than you expect.
- Perfect if you regularly use cash.
Helpful tools:
- Transparent piggy banks to see how your savings grow.
- Zipper envelopes as an alternative to keep your change organized.
3. The 12-month challenge
Want to save a substantial amount in a structured way without it having a major impact on your budget? Then this challenge is ideal.
How does it work?
With the 12-month challenge, you save a monthly amount. This continues until, by the end of the year, you'll have saved a nice sum without even noticing it.
Why is this challenge perfect for beginners?
- You save in small steps, which makes it easy to maintain.
- Perfect for people on a fixed income.
- The amount is flexible and adjustable to your budget.
Helpful tools:
- Sharpie or other permanent marker for completing the challenge
- Budget binder for the challenge cash envelopes
4. The 5 euro challenge
The 5 Euro Challenge is so simple you'll wonder why you didn't start sooner.
How does it work?
Every time you receive a €5 bill, put it in an envelope or piggy bank and leave it alone. After a few months, you'll see how much you've saved without even realizing it. You can also complete the €5 challenge over 52 weeks or in 100 envelopes .
Why is this challenge perfect for beginners?
- You save without actively thinking about it.
- Small amounts make a big difference in the long run.
- You can make the challenge last as long as you want.
Helpful tools:
5. The No Spend Challenge
This challenge will help you become more aware of your money and reduce unnecessary expenses.
How does it work?
You choose a period—a week, two weeks, or a month—in which you don't spend money on unnecessary things. So, no coffee to go, no impulse buys, and no online shopping. Everything you would normally spend, you put aside in a savings account or in an envelope.
Why is this challenge perfect for beginners?
- You become more aware of your spending pattern.
- It helps you save money without having to save extra.
- It's a short, achievable challenge that you can repeat as often as you like.
Helpful tools:
- No spend tracker to keep track of your savings.
- A5 binder to store the tracker in
Tips to make your savings challenge successful
Want to get the most out of your challenge? Here are a few extra tips:
- Make it visual: Use a savings tracker or colored envelopes to keep it fun.
- Be consistent: Schedule fixed times to update your savings.
- Celebrate your milestones: Saved 100 euros? Reward yourself with a small gift to motivate yourself.
Start today
Which challenge is right for you? Whether you choose the 100 Envelopes Challenge or the No Spend Challenge, the most important thing is to find a method that works and remains fun.
Want to make achieving your savings goals even easier? Then check out our handy budget organizers and cash stuffing tools to optimize your savings process.