20 Savings Challenges to Try This Year

Saving money is easier when it feels like a game with clear rules and a finish line. That is why savings challenges have become so popular: they turn a vague goal into daily or weekly actions you can tick off. This list covers 20 savings challenges, from classic number-based charts to habit changes and playful options, so you can find one that fits your income and personality.

Totals below are shown in dollars, but every challenge works in any currency. If an amount feels too high, scale it down; finishing a smaller challenge is better than abandoning a big one.

Number-Based Challenges

These challenges follow a fixed pattern of amounts and tell you exactly what you will have at the end.

1. The 52-week challenge. Save $1 in week one, $2 in week two and so on until you save $52 in the final week. You finish the year with $1,378, and the gradual increase makes the habit easy to build.
2. The reverse 52-week challenge. Start with $52 and count down to $1. The total is still $1,378, but the larger deposits come early, which suits people who expect higher spending at the end of the year.
3. The 100-envelope challenge. Number 100 envelopes from 1 to 100, draw one at random each day or few days and put that amount inside. Completing all 100 adds up to $5,050, so many people spread it over several months or use a scaled-down version.
4. The penny-a-day challenge. Save 1 cent on day one, 2 cents on day two and continue until you save $3.65 on day 365. The year totals $667.95, and the same idea works with pence or paise.
5. The $5 bill challenge. Every time a $5 note or your local equivalent ends up in your wallet, set it aside. The total depends on how often you use cash, which makes it a fun surprise at the end.

Habit-Based Challenges

These challenges focus on changing behaviour and saving the difference.

1. The no-spend month. For 30 days, spend only on essentials such as housing, bills, groceries and transport. Move the money you would normally spend on extras straight into savings.
2. The pantry challenge. Eat mostly from your cupboards and freezer for two to four weeks, buying only fresh basics. Save the difference between your usual grocery bill and what you actually spend.
3. The 30-day rule challenge. Whenever you want a non-essential item, write it down and wait 30 days. If you still want it, consider buying it; if not, save the price instead.
4. The cash-only challenge. Use only cash for everyday spending for a month. Seeing notes leave your wallet often reduces spending, and leftover cash goes into savings.
5. The packed-lunch challenge. Bring lunch and drinks from home every workday for a month and transfer what you would have spent buying lunch into a savings pot.

Automatic Challenges

These challenges are perfect if you prefer to set things up once and let them run in the background.

1. The round-up challenge. Many banking apps can round each card purchase up to the nearest whole unit and move the change to savings. Small amounts add up quietly over a year.
2. The 1 percent challenge. Start by saving 1 percent of your income each month, then increase it by 1 percent every month or quarter. The gradual increase makes it easier to adjust.
3. The bill-cut challenge. Review your phone, internet, insurance and subscription costs. Every time you switch, cancel or negotiate a lower price, set up an automatic transfer of the saving.
4. The save-your-raise challenge. When your pay increases, automatically send part or all of the increase to savings before you get used to spending it.

Income-Boosting Challenges

These challenges grow savings by bringing in extra money rather than only cutting costs.

1. The declutter-and-sell challenge. Sell a set number of unused items each week, such as clothes, books or electronics, and save every bit of the money.
2. The windfall split challenge. Decide in advance that a fixed share of any windfall, like a tax refund, bonus or gift money, goes straight to savings.
3. The side hustle savings challenge. Commit every dollar from a side hustle, such as tutoring or pet sitting, to a specific savings goal.

Fun and Flexible Challenges

If rigid rules do not suit you, these playful options add a little chance and variety.

1. The dice challenge. Roll a dice each day or week and save that amount, or multiply it by a number that suits your budget. It adds a game element without huge amounts.
2. The savings bingo challenge. Create a bingo card with different saving actions or amounts in each square, such as skipping a takeaway or saving $10. Cross off squares as you complete them and aim for a full card.
3. The weather challenge. Save an amount equal to the daily high temperature, in your preferred unit, for a month or a season. Totals vary by climate, so scale it to suit your budget.

Tips for Choosing and Finishing a Challenge

• Match the challenge to your income. If amounts feel too high, halve them; consistency matters more than size.
• Use a separate account. Keep challenge money away from everyday spending so it is not used by accident.
• Print or draw a tracker. A visual chart that you tick or colour in is very motivating.
• Give the money a purpose. Saving for a holiday, emergency fund or debt payoff makes the challenge feel worthwhile.
• Stack challenges carefully. Combining a habit challenge with an automatic one can work well, but avoid taking on too many at once.

How to Pick the Right Challenge for You

If you like structure and certainty, choose a number-based challenge like the 52-week or penny-a-day. If you struggle with impulse spending, a habit challenge such as the 30-day rule or no-spend month targets the root of the problem. If you are busy or forgetful, automatic challenges do the work for you. And if motivation is your main issue, the fun options keep things fresh.

Final Thoughts

The best savings challenges are the ones you actually finish. Pick one or two from this list, start this week and track your progress until the end. Whether you finish the year with a few hundred or a few thousand set aside, you will have built a habit that keeps paying off long after the challenge ends.