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There are so many different ways that you can save money with a challenge. This daily money saving challenge is unlike the rest in that it allows you to celebrate every savings, no matter the size.
Many of the more popular money saving challenges are the New Year’s challenge, or the 52 week challenge. These are great in theory, but trying to squeeze out an extra $100+ a week is difficult for so many different families that this challenge can often be left unfinished.
[Related] Check out How you Can Set Financial New Years Resolutions That Work
For those of us with tighter budgets, smaller incomes, or struggling to get by, we deserve a money saving challenge that is fun and doesn’t have us feeling like failures. Something that we can actually finish, and feel good about doing so.
This is why I created the Random Bubble Money Saving Challenge. It keeps the numbers nice and low. $1 here, $20 there, and the best part is that it can be done on your schedule and timeclock.
There is no need to do the challenge backward, you can literally fill in the bubbles as you save and you can save money in any order you like! This is such a great relief for those awkward weeks when money is tighter than usual!
If this sounds as good to you as it does me, keep reading/scrolling and you’ll see the FREE download below!
Why Should You Save Money?
Saving money is so incredibly important for many different reasons.
Firstly, if an emergency were to occur, you’d have some cash on hand to help cover the immediate expenses. While it may not cover everything, it’s better than not having money, and can provide a great sense of relief during a stressful time.
Secondly, the ability to save money is a great asset to you as a person. It shows that you can budget, have restraint, and those are two skills that many people lack.
How often do you get a random $20 in your pocket and then talk yourself into shopping when you didn’t really need to?
Having $1,000 in the bank and not spending it, is a monumental task that helps to change your financial lifestyle.
You see money, you know you have money, and while you may feel the urge to shop, you don’t. Welcome to frugal living and making smart financial decisions!
What Percent of Americans Have Less Than $1,000 in Savings?
According to CNBC, almost 60% of Americans don’t have enough money to cover a $1,000 emergency. [Source] CBSNews even reported that a $500 emergency would put most Americans in debt. [Source]
The weekend before Thanksgiving 2019, my 6 year old was admitted to the hospital with a double kidney infection and had to stay for 4 days before being discharged. The bills still haven’t arrived, but the emergency fund of money we had saved us.
The cost of gas for my husband driving to us and home every day with my son was expensive as the hospital is on the other side of town.
- Add in the paid parking fees. This cost almost $20-$30 per day.
- Add in the cost of fast food he bought because we didn’t have much he could cook at home (didn’t plan the emergency trip around a good grocery trip). About $30-$40 (He also stopped at my favorite coffee stand every morning so I could stay caffeinated).
- Add in the costs of our hospital meals (about $30 for the 3 of us per meal).
- Plus extra expenses that sprung up.
This one long weekend cost us about $300-$400 easily, and even with frugal choices being made it was still crazy expensive. After we were discharged, we went grocery shopping and spent even more money on foods her stomach could handle.
Our emergency fund was replenished in the weeks following, but this real life emergency showed me how truly important it is to keep money in savings. You never know what can happen.
What we thought was a simple stomach flu turned into something way worse. But we had the savings there to comfort us.
Money was the last thing on our minds because we had it and we could focus on healing our child instead.
How Can You Save Money Fast?
Saving money quickly can be done by simply making small changes around your current home and lifestyle. By simply budgeting properly and taking note of your expenses you can see dramatic changes. Just make sure to avoid bad financial advice whenever possible.
There are numerous tips for saving money on your electric bill or cutting costs of water usage. Add these frugal lifestyle tips to your daily routines and you can watch the savings roll in month after month.
Two incredibly quick ways to save money within the month is to do a pantry challenge or for a more extreme challenge, do a no-spend month!
Another way to save money with hardly any effort is to use Trim. If you haven’t heard of it yet, it’s a money saving company that seeks out the best deals for you and negotiates your rates with companies to help you save even more money.
Sign up for Trim for free and watch the money saving offers come to you.
For a more active approach, you can make some radical changes to save money. Things such as cutting out paper towels from your life, and using a cloth or opting for reusable items instead of disposable. Even switching name brands for off-brands.
Instead of taking a costly vacation to Disney World, you can have a frugal camping trip this summer and enjoy nature and the peaceful sounds of the outdoors.
Of course, most people find the easiest way to cut costs in their lives and save money is to adjust their grocery shopping habits.
Saving Money on Grocery Shopping
I could go on and on about different ways that you can save money on grocery shopping. Look for discounts, use coupons, avoid impulse buys, unless they’re smart impulse buys.
Honestly, it’s just easier to link my favorite articles to explain everything rather than write a few thousand words right here. So here are some great money saving articles to help with grocery budgeting!
- 10 Ways to make meal planning easy
- Ways you’re grocery shopping wrong
- Reverse meal planning vs traditional method
- Monthly meal planning vs Weekly, What’s cheaper?
- Slash your grocery bill and still eat easy
- Everything you need to know to save money on meat
- Secrets for saving money on fresh produce
Saving money is easy and it should be fun too!
Cleaning the house and embracing a minimalist lifestyle while selling used things helps you to make more money that you can put towards your savings if you’re looking for another approach.
Whichever method of saving money you take, it’s the right one for you. Don’t feel disappointed by only saving $1 or $2, because that’s still $1 or $2 that you didn’t have before.
Using this Random Bubble Money Saving Challenge, you can see your savings grow as you color in the bubbles. Celebrate every dollar saved by making it as colorful as you want, and feel great knowing that you are taking the necessary steps to be a better financially aware adult.
You can download and print your FREE copy of this Random Bubble Money Saving Challenge by clicking on the image below.
I hope you enjoy this daily money saving challenge and would LOVE to hear about your savings goals. Share your favorite tips for cutting costs, what you hope to do with the savings (is it for emergencies or something fun?) in the comments below.
If you liked this post, pin it to save it for later and share this money saving challenge with your friends.