The Best Money-Saving Challenges On The Internet

​This money saving challenge is a fun and simple way to save $1,000 in a year. The way this one differs from others is that it’s made up bingo style! Instead of having to put an exact amount each week, this chart has 52 random dollar amounts that total $1,000. Put away what you can each week and then cross that amount off.

​Print out the money savings chart. You can keep your money in an envelope at home, or in an online account. Each week, you deposit the amount you can afford into your savings. Then you cross out the amount on the chart. The next week you choose another amount and so on and so forth. This is a simple challenge that just about anyone can do, and it allows you flexibility according to the ebb and flow of your cash.

We would say this challenge is very effective as long as you keep doing it. For the very ambitious, you can even add a zero to each square and save $10,000 in a year.

​The penny jar challenge is a fun and simple challenge to do with your children! It starts out by saving a single penny on the first day, the next day 2 and on and on until by the end of the year you’ll have saved $667.95. Even if you only use cards, you could easily open an account and transfer a few cents each day.

​Start with a penny, the next day save 2 cents, then 3 cents, and so forth each day for an entire year. This challenge really isn’t a challenge at all!

​Very effective because the whole family gets involved. There really isn’t an easier challenge than this one.

​This challenge is the adult version of the penny challenge! Instead of saving pennies you’re saving dollars! It starts out easy and gets harder toward the end. Some people start this challenge and do it backwards… getting the hard part out of the way first. This challenge will save you more than $1,000 in a year.

​Start by saving a dollar the first week, then $2 the second and you know the rest!

​This is an effective challenge if you can get through all the way to the end. Some people do this challenge backward to get the big deposits out of the way. You’ll definitely have to scrimp and save toward the end if you take on this challenge.

​This is exactly what it sounds like. We all know the change jar. Your grandparents probably had one when you were growing up. A lot of us do this without thinking about it. This can be made into a challenge by throwing your daily change into a container that can’t be opened! Break it open at the end of the year and see how much money you’ve saved! You’ll be surprised how much pocket change can add up!

​Throw your daily pocket change into a container and don’t take any out for a year.

​Saving money is always effective. This is a great way to save up Christmas spending money or a family vacation fund.

​This challenge works exactly like others in that you save a certain amount of money each week. Some people do this the simple way and start out with a $1 the first week and go on numerically from there. Other people save a certain amount each week for the entire year. No matter which you choose, the 52 Week Challenge will easily save you more than $1,000 dollars.

​Save $1 the first week, then $2 the second, all the way to $52 the 52nd week.

​This challenge’s effectiveness hinges on your compliance. You can easily save $1,338 in a year with this challenge.

​This is the 52 Week Challenge, but in reverse. You start with saving $52 on the first week and work your way weekly down to a final $1 installment. This is a great idea for someone starting a challenge when they have a little extra money lying around, but may hurt financially at the end of the challenge.

​Start by saving $52 the first week and contribute $1 less each weekly installment.

​Again, it’s very effective as long as you stick to it. This challenge might be easier in that you get the hard deposits of money over with in the beginning of the year, instead of at the end during the holidays (assuming you start on Jan. 1).

​In this challenge you save any $5 bills you get as change for the entire year. At the end of the year, you’ll have a nice sum. You can also do this with any denomination — so it is adaptable to whatever you can afford.

​Save every $5 bill you get in change and put them in a box or envelope until year’s end. You’ll be surprised by how much you save!

​This one is very effective, because we don’t realize how many $5 bills we get and you won’t miss them that much.

The cash envelope system is a cash-in-hand budgeting system that many people use to get back on track financially. You have envelopes for each category of spending and saving in your life. Envelopes might include electric bill, rent, groceries, entertainment, savings, car repair, kids, pets, etc.

You can have as many or as few envelopes as you wish. The theory with this is that once it’s gone, it’s gone.

​Set up a monthly budget for your household. Make up an envelope system encompassing all the areas you’ll need money for. Each envelope gets a budget. If you take any money out or deposit money, you write it on the envelope.

​This can be effective. It’s known throughout the U.S. Many couples and young adults who are trying to get out of debt use the envelope system.

​This is a great challenge for those of you who can budget the money to save for this challenge. Or if you have something to pay for that needs to paid sooner rather than later — like dental work or that layaway item!

​This challenge requires you to deposit $35 every day for 30 days. It saves you around $1,050 in one month’s time.

​Effectiveness boils down to your earnings and debt. If your finances can bear the daily hit, this is a very effective and fast way to save. For those who the $35 represents a big part of their daily wages, it may be pretty tough to stick to it and, thus, ineffective.

​This challenge is for people who get paid bi-weekly instead of weekly. It’s essentially the 52 Week Challenge, but you deposit week 1 and 2 together and then 3 and 4 and so on. You can follow the 52 week plan, or you can schedule your own savings deposit plan. Maybe you can afford to put away $100 each check? Go for it! The whole process is to do what works for you.

​In this challenge, you deposit 2 weeks of money at a time from the 52 week challenge (see above).

​This can be effective for those paid bi-weekly, rather than weekly.

​In this one, you try to avoid spending anything. The length of the spending fast is adjustable. Choose a day, week, month or year. Take what you would spend and put it in your savings.

​A no spend involves not spending anything extra above your normal, necessary bills. You take the money you would have spent on entertainment, dinner out, shopping and the like and save it.

​No spends are somewhat effective, but they’re not bullet-proof ways of saving a lot. It’s just putting away the money you would have spent in a day/week/month, etc. Unless you do no spend frequently, you won’t save as much as by doing one of the other challenges.

​This works almost the same way as a no spend. Instead of grocery shopping for the week or going out to eat, you challenge yourself to use everything that you’ve already bought, and that’s sitting in your pantry. It forces you to get creative!

​Cook something already in your pantry or freezer, instead of grocery shopping and dining out.

​Effectiveness depends on if you can use items you’ve already paid for. If you don’t have anything, you’re out of luck.

​This is a fun one, especially if you’re in a warmer climate! You choose a certain day of the week and then deposit the amount of money that the high temperature was for that day each week.

​Pick a day of the week, then each week deposit the amount of money that is the same as the high temperature was that day.

​Can be very effective. If it’s hard, you can blame Mother Nature!

​This challenge is all about realizing what and how much you spend on the unnecessary. For example, for a lot of us it’s Starbucks! The challenge is to realize that and not spend money on those vices for a month. Instead, put the money you would have to spend into your savings.

​Pick a personal vice and withhold it for a month.

​If you have self-discipline, it can be an effective way to save.

​This challenge is just what it says. Don’t go out to eat for a month and put that money in savings! This is a great way to save money if you eat out a lot.

​Instead of dining out, eat at home and pack your lunch and snacks. Put the money you would have spent on dining out in your savings.

​If you dine out frequently, this can be super effective. If you don’t eat out a lot, though, it won’t be a great challenge for you.