Money Saving Challenges

Money Saving Challenges: Free Printables & List of Ideas 2022

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Money Saving Challenges

According to financial experts, you need to have at least $1,000 in your emergency fund just in case something was to happen. However, when you consider such a large number, it can be a bit overwhelming- but it doesn’t have to be. 

Whether you’re trying to save money for Christmas, a vacation, an emergency fund, or just because, a money-saving challenge can help! Studies have proven that when you make a game out of something, even the most boring tasks can be fun.

Money saving challenges are great because they make saving money fun, as well as help you set your goal and create a plan to reach that goal. You’re not exactly creating a new habit or discipline, you’re challenging yourself, which makes it easier. 

This page contains 2 free printables:

  • $5000 money saving challenge printable
  • 52 week money saving challenge printable

Try These Money Saving Challenges 

If you truly want to see results in your savings, consider some of the challenges listed below. Be sure to check out all of them and decide which one seems like it would be the most fun and effective. 

By recruiting your loved ones to join you in a money saving challenge, you increase your chances of being successful because you can hold each other accountable. So, invite others to join you on your savings journey. 

Let’s take a look at the best money-saving challenges in the next sections.

52 Week Money Saving Challenge Printable

Money saving challenges are much easier if you have fun printables to help motivate you.

52 Week Money Saving Challenge Printable

52 Week Money Saving Challenge Printable


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No Spend Challenge 

This is one of the most popular challenges that you’ll find. Basically, with this challenge, you set a particular amount of time: week, month, 6 months, or more and you don’t spend more than the basics (rent, food, gas, power/water). 

This challenge is basically like fasting, but instead of not eating, you’re not spending your money. Then, the money that you would normally spend goes into your savings instead. So, if you’re used to buying a $5 coffee on the way to work every day, put that $5/day into your savings. At the end of the week, you’ve got $25 and by the end of the month, you’ll have around $100. 

Related content: Look for budgeting printables?

Standard 52-Week Money Savings Challenge 

This money savings challenge is also quite popular, and if you follow it properly, you’ll have $1,378 saved by the end of the year. Start by saving $1 on week 1, and each week increase the amount you save by $1. When you get to week 52, you’ll set aside $52. 

If you need help keeping up with what week you’re on, there are many printables available online that can help. 

Fun Money Saving Challenges

Backwards 52-week Money Challenge 

You’ve probably heard of the 52-week money challenge. The first week, you save $1, the second week $2, the third week $3, and so on. Then, at the end of the year, you’ll have $1378 in savings. 

However, instead of counting up, try doing it backward. Save $52 the first week, $51 the second, and so on. Each week, decrease the amount you’re putting away by $1. This is one of the better ways to save money because, by the time the holidays come, you’ll have the money you need to pay for Christmas gifts. 

26-Week Money Savings Plan 

If you are on a bi-weekly paycheck, you may have a difficult time saving some cash each week, or maybe the idea of saving each week is a bit overwhelming. Instead, you could do a 26-week savings challenge. 

At the end of the challenge, you will have saved $1,404. This takes 1 year, just like the 52-week challenges. It looks like this: 

Save $4 the 1st week, $8 the 3rd week, $12 the 5th week, and so on. Every other week, increase the amount that you’re saving by $4 weeks. Then, pay attention to your progress so that you are encouraged to continue. 

2-Month Vacation Savings Plan 

This savings challenge is one that allows you to save $1000 in 8 weeks instead of all year long. There are 2 parts to this challenge. In addition to putting a certain amount into savings each week, you must also cut back on excess spending over the 8 weeks as well. 

You’ll put away $10 the 1st and 8th weeks, $25 the 2nd and 7th weeks, $75 the 3rd and 6th weeks, and $150 the 4th and 5th weeks. 

While you’re putting the specified amount of money into savings, you’ll also cut back on your coffee shop coffee 2 days a week (equal to an average of $10/week) and cut back on restaurant meals 1 day a week (equal to an average of $50/week). 

By the end of the 8 weeks, you should have $1000 in your savings. 

3 Month Money Savings Challenge 

This challenge works well for those who want to save money but aren’t ready to commit to a year-long program. If you properly follow this program, and save exactly $84 each week, you’ll have $1,000 at the end of 3 months.

Holiday Helper Fund

This savings plan is an ideal way go get a jump on the expense of the holidays. On January 1, put $20 into savings each week. By the first part of December, you’ll have $960. This can be used to purchase gifts for your loved ones, for a major household expense, or to treat yourself. 

365-Day Money Savings Challenge 

At first glance, this seems extremely overwhelming. However, it’s not as hard as you might think. This savings challenge involved nickels. You’ll actually end up saving more this way than with some of the other weekly and bi-weekly challenges. 

You’ll start by depositing $0.05 on day 1. Then, each day, you will increase the amount you are depositing by $0.05. By the end of it, your total deposit is $18.40. 

When you look at it this way, it seems like it would be easy to keep up with- and by the end of it, you will have saved more than $3,000. 

Easy Money Saving Challenges

$1 Money Savings Challenge 

This challenge is actually pretty simple. Any time you get $1 bill in change, you’re going to put it into an envelop for savings. 

This is really easy if you’re already using the envelope system for budgeting. If the envelope gets too thick, consider putting them into a large jar. This way, you will have a visual reminder of how quickly your savings is growing. 

At the end of the year, use your money to treat yourself to something fun! You’ll be surprised at how much you’ll end up with! 

Weather/Temperature Money Challenge 

This challenge is a fun way to save money. Each week, choose a random day and deposit money that matches the high temperature for that day. This is easy if you live somewhere that’s mild. However, if you live somewhere that temperatures get really hot, you could end up depositing $105 or more on a given day. 

If you can’t or don’t want to make deposits on a weekly basis, look back at the end of the month for the average high temp each week and multiply by 4. Then, deposit that amount into your savings account. 

31 Day Financial Improvement Challenge 

This is an ideal challenge for beginners. It comes from Part-Time Money and takes you step-by-step through a month of financial habits that will change the way you spend and save your money. 

Each day, you’ll be given a new challenge, as well as the tools/resources to complete that challenge. This will not only get you on track with saving money- it will also set you up for a better financial future. 

Spare Change Savings Challenge 

This is actually something that a lot of people do without even thinking about it- and it’s a great way to save money. Each day, clean the loose change out of your pocket, wallet, or purse and put it into a piggy bank or jar. Once the jar is full, take it to your bank and deposit it into your savings account. 

If you’re just getting started with savings, this is a great way to do it because you don’t feel like you’re missing out on anything. You’ll be surprised at how quickly it adds up! The only thing is, it doesn’t work very well if you don’t typically use cash to pay for things. 

Track Your Expenses Savings Challenge 

If you have never tracked your expenses before, this is a great way to see exactly where your money is going and ways that you can save. If you’ve never done this, it’s pretty easy to get started. 

Simply get a notebook or create a spreadsheet and for one month, write down and categorize every single purchase, no matter how small it seems. You might just be surprised at how much you’re spending on certain categories. 

Money Saving Challenge Printable

One of the easiest money saving challenges is the weekly challenge.

Money Saving Challenge Printable

Money Saving Challenge Printable


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26 Paycheck Money Savings Challenge 

This particular challenge is for those who budget every single paycheck. Simply increase the amount you deposit each paycheck by $10. 

The 1st week, you’ll deposit $10, the 2nd week will be $20, and so on. The good thing about this is that it caps out at $60, which is ideal for those who have a smaller budget. At the end of 26 paychecks, you’ll have an additional $1,000 in your savings account. 

No Eating Out Savings Challenge 

If you feel like saving money is something that you simply can’t do, try not eating out for one month. Instead, put what you would spend on dinner into your savings. This may be more beneficial than you realize. 

You can do this for as long as you want. You will be surprised at how much you’ll save by not eating out. Plus, you can use this challenge in conjunction with one of the other ones on this list and you’ll save more. 

Penny Savings Challenge 

This challenge is very similar to the spare change savings plan, but instead of saving all of your spare change, you’ll only save your pennies. You will be shocked at how much you’ll have when you fill up a large jar with pennies. Once it’s full, take it to the bank and deposit it into your savings account. 

Cancellation Savings Challenge 

This challenge is as simple as the “no eating out” challenge. Sit down and take a look at your subscriptions. Then, cancel as many as you can. 

After doing that, take a closer look at where you’re spending your money. Are you spending money on apps or buying coffee every day at the coffee shop? Cancel as much of this spending as you can and put the money into savings instead. You might be shocked at how much you’re actually spending when you look at all of it together. 

Apps to help you cancel subscriptions:

Vices Money Savings Challenge 

This money savings challenge is likely one of the most challenging ones on this list. It requires you to consider every single purchase and determine whether it’s necessary or it’s a vice. 

A vice purchase is something you can live without. It includes those impulse buys at the cash register or the coffee that you’ve just got to have while you’re out and about. With this challenge, there are a few different options. You can cut everything out for a whole month, or you can cut out certain ones for a longer period of time. 

Consider which way you would find more feasible to follow and then do it. 

Round-Up Money Savings Challenge 

There are many banks and even credit cards that are doing this now. Your purchase is rounded up to the nearest dollar and the change is put into a savings or investment account. If you don’t have a bank card or credit card that offers this, there are several apps on the market that will do it for you. 

1% Money Savings Challenge 

This is a challenge that you can automate so you don’t have to do anything at all. Simply go to the HR department of your employer and raise your contribution to your 401(k) plan by 1%. In a couple of months, do this again. 

If you don’t have a retirement plan through your employer and want to do this without one, simply determine what your gross pay is for the year. Then, figure out what 1% of that is. Divide that by the number of paychecks you get in a year and deposit that amount into your savings account with your first paycheck. 

Then, when you decide that you want to bump up your savings another percentage point or so, do the calculations again. You’ll find that it’s really nice to see your nest egg getting bigger.  

Money Savings Throwdown Challenge 

This challenge is one that can be a lot of fun! Simply challenge your loved ones to see who can save the most money in a specified period of time. You’ll need to talk it over and decide on the rules of the challenge and how savings will be evaluated at the end of the challenge. 


When you’re not used to saving, it can be quite challenging to stay motivated. Small, quick money saving challenges ensure that you make progress towards your goals without losing your motivation. However, what about the challenges that last all year? The best way to maintain motivation here is to track your progress visually. 

For some, this can be a spreadsheet. Perhaps you want to put a dry erase board on your fridge and each week, update your savings progress. The jar challenges are easy to stay motivated because you see what you’re saving. 

Ultimately, you have to decide what will keep you on track. Saving money doesn’t have to be difficult. The rewards at the end of the challenge will make it all worthwhile.

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