What if you could just wake up tomorrow morning and know that you had extra money saved?
That money could be for a special occasion, for your emergency savings, or just something fun that you like to do.
I know that saving money isn't always an easy task for everyone. I'll admit that it didn't used to be easy for me.
Plus there are times when you just can't set up those automatic transfers to your savings accounts like so many of the money gurus out there say to do.
You can set up those automatic transfers, but then you'd still end up transferring the money right back into your checking account, because the money is needed in your checking account.
There are tons of ways that you can actually go out and save money. But there is a difference between saving money on the things you usually spend on all day, every day versus saving some cold hard cash in your bank account.
So to help myself combat this issue, I created a money saving game. I made one of these charts that you see below and every time I was able to transfer an amount of money from one of the boxes into my savings account, I simply put an X through the box, which is so easy to do from my phone.
Saving Money a Game Changes Things
When you play a game with yourself, it makes it so much easier to save money.
You don't ever want to lose the game by missing a week of transferring money. It's just so much more fun when it's a game.
And with this game, you can pick the amount of money you want to save, based on the charts below, and spend a year (or maybe even less!) saving that money for yourself.
Last year, I shared the first chart for $1,250. And today I am sharing 5 more charts for a total of 6 different charts. Simply pick the chart that works for your goals. There are total of 55 boxes with numbers in each chart. Every time you transfer the money to your savings, just cross off the box.
Also check out: The Ultimate Guide to Your Money Story
Save $1,000
Building your first emergency fund?
Need to build a car repair fund?
Use this chart to save $1,000 in the next year. Simply click the image and save it to your phone or computer. Then each time you make a transfer, draw an X through the box of the amount of money you just transferred.
Save $1,250
Want to save for the holiday season? Build a fund that you know will be there for any gifts you need to purchase.
Use this chart to save $1,250 in the next year. Simply click the image and save it to your phone or computer. Then each time you make a transfer, draw an X through the box of the amount of money you just transferred.
Save $2,500
Maybe there is something big you want to buy. But you won't buy it until you know you have the cash to pay for it. $2500 is definitely a good starting point!
Use this chart to save $2,500 this year. Simply click the image and save it to your phone or computer. Then each time you make a transfer, draw an X through the box of the amount of money you just transferred.
Save $5,000
Need to save up for a down payment on a new car? Or maybe you need to save up to remodel a part of your house.
Or maybe you just need to save up for an additional amount to your savings fund. $5k is a very good number to work on that with.
Use this chart to save $5,000 this year. Simply click the image and save it to your phone or computer. Then each time you make a transfer, draw an X through the box of the amount of money you just transferred.
Save $7,500
Now you are looking at saving a huge chunk of money, but you'll feel oh so amazing once you have a savings account with an additional $7,500 in it.
Use this chart to save $7,500 this year. Simply click the image and save it to your phone or computer. Then each time you make a transfer, draw an X through the box of the amount of money you just transferred.
Save $10,000
Maybe you want to buy a new car with cash, that is a super amazing goal!
Or maybe you just want to have an extra $10k available for you and just looking so gorgeous in your account portfolio.
No matter what, an additional $10k in savings is one hell of an amazing amount of money to save.
Use this chart to save $10,000 this year. Simply click the image and save it to your phone or computer. Then each time you make a transfer, draw an X through the box of the amount of money you just transferred.
FAQs
Absolutely. Advisors recommend that individuals set aside an emergency fund of several months' worth of expenses in a savings account or similarly liquid option before considering whether to invest additional funds.
Is it better to save money or have fun? ›
Actually, to enjoy life to the best you also need to save money and not just spend it in the present. The reason being: Spending on experiences is fine but spending on material possessions to make yourself happy is problematic.
How can I save money and enjoy it? ›
Make a budget.
- Set a savings goal. ...
- Set up direct deposits to go into savings. ...
- Buy generic. ...
- Stay out of “that store.” ...
- Cancel some subscriptions and memberships. ...
- Join gas rewards programs. ...
- Meal plan. ...
- Use cash-back apps and coupons.
What is the hardest part about saving money? ›
It takes time to make a saving plan. It takes time to track records how much you have already saved this month, and how much you still need to save to reach your saving goals. And, it takes time to change old money-saving habits. None of the above is easy.
Is saving $500 a month good? ›
The short answer to what happens if you invest $500 a month is that you'll almost certainly build wealth over time. In fact, if you keep investing that $500 every month for 40 years, you could become a millionaire.
What is the 30 day rule? ›
The premise of the 30-day savings rule is straightforward: When faced with the temptation of an impulse purchase, wait 30 days before committing to the buy. During this time, take the opportunity to evaluate the necessity and impact of the purchase on your overall financial goals.
Why is it so hard to save money? ›
Debt, especially from high-interest credit cards, significantly hinders the ability to save. Lack of budgeting contributes to poor financial management and savings shortfalls. Social pressures and lifestyle inflation can lead to increased spending, further impeding savings efforts.
What is the trick to saving money? ›
'Start Small. Think Big,' with a short- term goal. The truth is, people save more successfully when they set a short-term goal. For instance, committing to saving $20 a week or a month for 6 months is much more attainable that setting a goal to save $500 a month for a year.
How do I enjoy life without money? ›
Whatever your situation, here are 13 fun things to do that don't cost money with friends and family:
- Go on a picnic. ...
- Go to no-cost museum and zoo days. ...
- Give geocaching a try. ...
- Leverage your chamber of commerce. ...
- Take a historical city tour. ...
- Visit a farmers market. ...
- Go camping. ...
- Do a photography challenge.
What is better than saving money? ›
If you have built up your emergency fund and don't carry any high-interest debt, investing your extra money can help you grow your wealth over time. Investing is crucial if you're going to achieve long-term goals like retirement. Real-life examples are the best way to illustrate this, Keady says.
One of the most common reasons is that you might not have a good enough reason to save. Maybe you're overly focused on the present, or maybe you simply don't know what you want in the future. Either way, you need to get a vision for what you want to achieve with your money.
What should you not do to save money? ›
Here are seven money-saving barriers — plus advice on how to knock each of them down.
- Spending too much on housing. ...
- No defined budget. ...
- The “I'll save when I make more money” mindset. ...
- Lack of a measurable savings goal. ...
- Student loan payments. ...
- Your comfort zone. ...
- Overusing credit cards.
Is saving $50 a week good? ›
If you invest $50 per week, that's the equivalent of $200 per month, or approximately $2,400 per year. Over a 30-year period, that would result in more than $72,000 in savings. It's a good chunk of savings, but it isn't a life-changing amount. This is where the power of compounding comes into play.
Is it smart to keep money in savings? ›
You should keep enough money in checking to cover your monthly bills with some wiggle room – about a month of expenses. That's much lower than the three to six months' worth of expenses you should keep in your savings account for emergencies. Read: Best Checking Accounts.
Is saving a little money better than none? ›
Still, saving a little is better than saving nothing. And the habit of saving is most important of all. That's why you should focus less on the amount you're saving and more on the regular practice of setting money aside, even if it isn't much.
Is the 50/30/20 rule realistic? ›
The 50/30/20 rule can be a good budgeting method for some, but it may not work for your unique monthly expenses. Depending on your income and where you live, earmarking 50% of your income for your needs may not be enough.