Did you know there is a mostly pain-free way of saving almost $500 in 30 days? I know because I’ve done it, and I will show you how you can do it in this article. It’s a 30-day savings challenge.
I’ve seen many different versions of a 30-day money savings challenge, but I like this one the best. I like it because it starts gradually and then builds as you gain momentum. As you begin to see progress, it gets a little harder each day. But, don’t worry, I’ll also give you lots of ideas of where you can get that money to save for this challenge. Sound good? Let’s get started.
Download the 30 Day Money Saving Challenge Tracker
First, you will want to download the tracker to know exactly how much you will save each day quickly. By the end of the 30 days, you will have saved an impressive $465! Think of what you can do with that extra money.
You might be saving for a particular purpose or want to save to have an emergency fund. No matter what your reason, it is vital to keep your goal in mind to be inspired to continue on the 30-day saving challenge.
The significant part is that you will most likely have developed many good habits surrounding where you spend your money once you have completed this challenge. You can continue these habits, and it is like a snowball effect. You will be able to save for any goal you set your mind to.
So download the tracker below, save it to your computer and print it out. Keep it somewhere where you can see it.
How to Use the Tracker
The challenge is super easy to follow if you are starting on the first day of the month. In that case, all you need to know is what day of the month it is and that is the amount you have to save for that day.
If you are not starting on the first day of a month, you can cross off each day as you complete it to keep track of where you are and how much you should be saving for that particular day.
There are two pages to the tracker. The first page is how much you should be saving for each of the 30 days. Check the box on the day as you complete it. The second page is what you saved and the difference between the goal and the actual savings. This will allow you to keep a running total of how much you are ahead or need to catch up.
The goal amount is already filled in for you.
In the second column, put the amount you actually were able to save that day.
Then put the difference between the goal and the actual amount in column 3.
In column 4, you should put a running total of how much you have saved so far in the challenge.
In column 5, put the difference between the total you have actually saved and the total you should have saved.
This will allow you to see at a glance how far ahead or behind you are in meeting your 30 day goal.
How This 30 Day Savings Challenge Works
This 30-day challenge starts with saving just $1.00 on day 1. This amount increases by $1.00 each day through the entire 30 days. By the time you get to day 30, you will need to save $30 on that day.
I know what you may be thinking. It is easy to save $1.00 a day, but not so easy to save $30.00 per day. You don’t have to save $30.00 every day, though. You work up to it each day.
Some days early on in the challenge, you may be able to save more than the goal amount. In that case, record the excess amount because you can use it in later days if you are unable to save the increased amounts as they get higher each day.
Ways to Save Money Each Day
Below are some ideas of ways you can save your goal amount each day. Some of them are small amounts for the early days, and some are larger for later days. Remember, you can always save extra in the earlier days to make it more comfortable in the latter days.
Here are ten ways off the top of my head that you can do to save some extra cash each day.
1. Don’t buy that coffee on one or more days.
2. Use coupons to save on groceries.
3. Save on your cable bill by using a streaming service instead.
4. Pack your lunch rather than buying it one or more days.
5. Don’t buy that new piece of clothing.
6. Don’t go out to dinner one or more times.
7. Go through your bills. Are you paying for anything you no longer use? Cancel it.
8. Sign up for a credit card with cash rewards and use it for all of your purchases. Just make sure you pay off the bill monthly so you don’t accrue any interest, but you can still get cashback on all your purchases.
9. Don’t buy that magazine or candy at check-out.
10. Sell some of your clothing or other items you no longer wear/use online.
This is just the tip of the iceberg. There are lots of ways you can save money each day. Brainstorm different ways that you can cut expenses save according to your specific situation and spending habits. Write them all down so that you will be much more likely to take action on them.
Conclusion on the 30 Day Money Saving Challenge
As you can see from above, saving almost $500 in a month can be easier than you initially thought. It would help if you started being mindful about where you are spending your money.
Take the list above and also the list that you made of ideas of ways to save money. Pick and choose the ones that you want to do and do them. Just think, if you continued doing this each month, not only are you going to form the habit of saving money, but in a year, you will have saved over $5,000.
What would you do with an extra $5,000? Take that family vacation? Put it in an emergency fund, so you don’t have to worry? Use it to make improvements to your home? Decide what you would do with that extra money and use it as fuel to help you complete the 30-day money-saving challenge.
Other 30 Day Challenges to Try
If you completed this money-saving challenge, you might want to try one of the other 30-day challenges that are on this site.
Do you have lots of clutter around your home that you need to clear? Try the 30-day declutter challenge.
If you regularly overspend on things you don’t need, try this no shopping challenge. You could even do the 30 days no shopping challenge right along with this 30-day money-saving challenge.
Finally, if you find yourself spending too much time on social media, try this 30-day social media detox.
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