Money Savings Challenges: To Try In 2025 (SAVE $1,000 TO $20,000)

 

 

 

 

It can be challenging to save money. At a lower salary level, it might be difficult to find the self-control and discipline to

 

 refrain from spending today in order to save for tomorrow. 

 

You may not be the only one dealing with this issue; in fact, it affects many people. 

 

More than half of Americans, or 51%, have less than three months' worth of expenditures covered in an emergency fund,

 

According to Bankrate's July 2021 Emergency Savings Survey. One in four Americans (25%) do not have any emergency savings at all.

This is quite a serious concern. 

There are several long-term advantages to setting aside a percentage of your salary for savings. 

 

First of all, you'll be more equipped to deal with any unanticipated situation, such as losing your work or incurring medical bills. 

 

It is also a useful tool for guaranteeing a secure and safe retirement. 

 

No matter how small the contributions, you should begin

 

 saving as soon as possible in order to build a sizeable nest egg…

Although saving is something you should take very seriously

 

 because it has  a significant impact on your quality of life, 

 

it can be made more enjoyable with entertaining and unusual

 

 techniques like the 52-week challenge money savings challenges... 

Money savings challenges can be hard (SAVE $1,000 TO $20,000)

 

But "savings challenges" make it a lot more fun. 

 

Today we are going to be talking about savings challenges that you can do

 

to speed up your savings and to make sure that you are saving as much as you can in the new year...

I am going to share several different savings challenges that

 

you can use to stack your money and achieve all of your financial goals.

 

These are technically money-saving challenges.

You can use the money for anything you want. You can invest it; you can buy a car; you can pay off debt;

 

 you can turn these into anything that you need.

They are designed to help you save a certain amount of money that you need within a certain time frame, 

 

so now let's look at some of the savings challenges that you might want to try out if you're trying to save money.

The first money savings challenge that we are going to look at is a quick win.

It is saving one thousand dollars in 30 days, so this savings 

 

challenge is a great one to start out with if you have never

 

saved any amount of money before or if you need to save up

 

 quickly for a starter emergency fund or any sort of bill that you need to pay in 30 days.

There are multiple options here, so I have a couple of different options. 

 

So you're saving a different amount every day for 30 days, so there are some days. 

 

when it's five dollars, some days when it's 45, then I have a couple that are a little 

 

more structured where you're saving the same amount of money every single day. 

You can transfer the money to a savings account every single day, move money over, or you can get out cash and put it in a cash envelope. 

 

Anything you want to do to save up that one thousand dollars is fine by using the savings challenge where you save a certain amount per day.

The next couple of challenges are 52-week savings plans.

these 52-week savings challenges basically have every single week of the year listed in a certain amount that you save per year, 

 

so on the basic 52-week savings challenge, you save one dollar for the first week, 

 

two dollars for the second week, all the way up to saving fifty-two dollars for the last week of the year. 

 

At the end of the year, you have 1,378 dollars saved, so you just save the amount, 

 

put that money in your savings, and check it off when you're done, and that gets you to 13.78. at the end of the year.

The next challenge is very similar.

You are saving 20 bills every single week. You are going to set aside twenty dollars for the 52-week, $20 savings challenge, 

 

so this is very similar, but every single week you are putting aside twenty dollars, 

 

so that first week you have 20, and then after four weeks you have 80, and then at the end of the year you have one thousand forty dollars. 

 

That's just twenty dollars a week. 

You can save it; you can transfer it to another account, or, again, every single week get a twenty-dollar bill and put 

 

it aside in a cash envelope or save something in your home so that at the end of the year you have one thousand forty dollars. 

These next savings challenges are my absolute favorite.

They are the most fun ones I came up with because they help you save a huge amount of money in one year. 

 

First, we have the ten thousand dollar savings challenge. So in one year, you can save ten thousand dollars by following this challenge. 

 

Every single week, you can pick an amount on this chart to save.

 It puts it into your savings; 

if you follow it and do all of them once a week for the entire year, you're going to have ten thousand dollars. 

 

It's a great way to really have the plan to put that money aside, 

 

and you can also adjust it if you're doing the one with the smaller and larger amounts so that you're putting in small amounts when you don't 

 

have as much money and bigger amounts when you have a lot of cash to save the next challenge is similar, but you double your money.

 

The next one is saving up twenty thousand dollars in one year.

There are several options to this challenge as well. I have multiple options for almost all of these so that you can make 

 

it a little more flexible and put it in your life in a way that makes sense. 

So for this twenty thousand dollars in one-year savings challenge, this one is honestly the best thing I have ever created because 

 

it gives you a certain amount per week that you save, and some of them seem like a lot. 

 

Yes, 450 in a week can be a lot, but there are also weeks on here where it is a hundred dollars.

 

 
You can kind of adjust like the ten thousand dollar one.
you are just putting more money aside, so if you have some really huge goals, 

 

like saving for a home down payment, you might want to use this twenty thousand dollar one-year savings challenge,

 

 so that you can put aside a lot of money to achieve those big goals.

How does the 52-week saving challenge work?

The 52-week saving challenge is a fun way to start saving money. You start by putting away a set amount of money each week, starting with $1. 

 

"Then, you increase the amount you save by one more dollar each week after that." In simple words, 

 

the amount of money you save should be equal to the weekly number.

 Save $1 in the first week, $2 in the second week, $3 in the third week, and so on. In the last week, 

 

the 52nd week, you have to save the most money, which is $52. 

 

If you maintain this plan precisely, you'll be saving $1,378 by the end of the year; it is such a surprisingly big amount. 

And to top it all, if you were to start off with $1,000 during the first week and continue to add $1 each week, 

 

by the end of the year you would have accumulated $53,326!

Most people start the challenge at the start of the year because it is easier to count the weeks and can be considered a New Year's resolution. 

However, you can start the challenge at whatever time best suits you. 

 

Additionally, this challenge does not have to be your only way of saving money. 

 

This has been a lighthearted way for me to just stay on the right track to continue saving however much I feel fits.

Where to keep your money

One better place to keep your money during the 52-week saving challenge is a high-yield savings account. 

 

As the name says, a high-yield savings account gives a much better interest rate than regular savings accounts at most banks. 

 

This also is significantly more than the average interest rate

 

 banks offer on the traditional savings account at most major financial institutions, 

 

currently less than 0.20% APY. Credit unions and small online banks are generally better equipped to offer this type of savings account.

One of the perks of depositing your money for the 52-week challenge into a high-yield savings account is the interest you get to earn. 

 

So, at the end of 52 weeks, this would be a little over $1,378, and without earning that interest,

 

 that is what it would be. 

But over time, as you keep putting in more money,

 

 the interest will compound, and your amount will grow dramatically.

Moreover, some high-yield savings accounts have withdrawal

 

 limits (a fixed amount of withdrawals per month) and penalties for extra withdrawals. 

 

(High-yield savings accounts and money market accounts offered through Raisin do not have withdrawal limits.) 

 

This makes it more conducive to doing the challenge consistently and religiously, as it curbs impulse spending.

 

 Compare this to a checking account, wherein it is easier to spend from and lose track of your spending.

You can also set up an automatic way to move a certain

 

 amount of money from your checking or salary account to a high-yield savings account. 

 

This helps you stay on track if you forget to transfer it yourself.

The final money savings challenge.

We're going to talk about today is a little bit different, but it's basically using your spending habits 

 

... and your desire to spend to save money, so you fill out these little cards each week with

 

How much do you want to spend Basically.
when you see something and you think about buying 

 

it, instead of making that impulse purchase, you write it down, and then at the end of the week, 

 

you have the total amount that you had thought about spending during the week 

 

but decided not to take that amount and then put it in your savings. 

 

This is a fun thing to do but also can get kind of expensive 

 

if you are really paying attention and tracking those internal urges.

When you are writing down the things that you could have spent and you might have bought, 

 

you instead put that money in savings; it can really, really add up.

So this one is great for adding to a no-spend challenge or just doing it as a savings challenge at 

 

different times during the year when you might want to be spending more, 

 

but instead, you really want to focus on savings, so just tally it up, move it to savings, 

 

and you will be on your way to a really nice hefty savings account.

Also read:

6+ Smart Ways Biweekly money saving challenge! 2025