Recently, I created a fun printable for all of you called the $20 Savings Challenge so that everyone can learn how to save money. The $20 Savings Challenge is a great way to easily save $1,040 this year without noticing! All you have to do is save $20 each week for a year, and then…
Recently, I created a fun printable for all of you called the $20 Savings Challenge so that everyone can learn how to save money.
The $20 Savings Challenge is a great way to easily save $1,040 this year without noticing! All you have to do is save $20 each week for a year, and then you’ll easily have $1,040. If you start this now and do it just until the holidays, you will have a nice chunk of change as well!
And, it’ll make saving money just a little more enjoyable.
Yes, saving money can be fun!
So many people get tired of paying off debt and saving money, because it can feel so monotonous or they just lack the motivation.
Related:
Challenging yourself, such as by startingthe $20 Saving Challenge, to save more money is great, because it can help keep your financial goal on your mind and keep you motivated.
Please download my free worksheet, the $20 Savings Challenge by filling out the form below. With this fun challenge, you can easily save $1,040 this year without noticing!
If you are new to my blog, I am all about finding ways to make and save more money. Here are some of my favorite sites and products that may help you out:
- Start a blog.Blogging is how I make a living and just a few years ago I never thought it would be possible. I have earned over $5,000,000 online through my blog and you can read more about thisin my monthly online income reports. You can create your own blog here with my easy-to-use tutorial. You can start your blog for as low as $2.75 per month plus you get a free domain if you sign-up through my tutorial.
- Sign up for a website like Rakuten where you can earn CASH BACK for just spending like how you normally would online. The service is free too!
- Answersurveys. Survey companies I recommend includeSwagbucks,Survey Junkie,Pinecone Research,and Harris Poll Online. They’refree to join and free to use! You get paid to answer surveys and to test products. It’s best to sign up for as many as you can as that way you can receive the most surveys and make the most money.
- Save money on food. I recently joined $5 Meal Planin order to help me eat at home more and cut my food spending.It’s only$5 a month (the first twoweeks are free too) and you get meal plans sent straight to you along with the exact shopping list you need in order to create the meals. Each meal costs around $2 per person or less. This allows you to save time because you won’t have to meal plan anymore, and it will save you money as well!
- Cut your TV bill. Cut your cable, satellite, etc. Even go as far to go without Netflix or Hulu as well.Buy a digital antenna(this is the one we have)and enjoy free TV for life.
- Try InboxDollars.InboxDollars is an online rewards website I recommend. You can earn cash by taking surveys, playing games, shopping online, searching the web, redeeming grocery coupons, and more. Also, by signing upthrough my link, you will receive $5.00 for free just for signing up!
FAQs
The $20 Savings Challenge is a great way to easily save $1,040 this year without noticing! All you have to do is save $20 each week for a year, and then you'll easily have $1,040.
How much if I save $20 a week for a year? ›
Here are the steps we've taken to arrive at the figures in the table below. We multiplied your weekly investment by the number of weeks in the year: $20 x 52 = $1,040.
How much does the 52 week savings challenge save? ›
Check out our guide on how to budget to start getting a handle on your spending and saving. You'll end the challenge with over $1,300 saved If you successfully complete the 52-week money challenge, you'll have $1,378 set aside.
What is the 20 savings rule? ›
The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals. Let's take a closer look at each category.
How to save $10,000 in 6 months challenge? ›
Here's how I did it & how you can do it, too.
- Set goals & practice visualization. ...
- Have an abundance mindset. ...
- Stop lying to yourself & making excuses. ...
- Cut out the excess. ...
- Make automatic deposits. ...
- Use Mint. ...
- Invest in long-term happiness. ...
- Use extra money as extra savings, not extra spending.
How much is 50 cents a day for 1 year? ›
Saving just 50 cents a day will get you $18,250 in a year. Let that si...
How much is $1 dollar a day for a year? ›
The answer to that question depends on interest rates or rates of return. With no interest involved, putting one dollar a day into a bank account (or a jar at home) will see you end up with $365 in a year. Multiply that amount by 30 years and you'll end up with $10,950.
How much is $5 a day for 20 years? ›
Saving $5 per day
By setting aside just $5 per day (or around $150 per month) and investing it at a 6% return, your savings would grow to: After 10 years: $23,725. After 20 years: $66,214. After 30 years: $142,304.
How to save $5000 in 3 months with 100 envelopes? ›
The 100-envelope challenge is pretty straightforward: You take 100 envelopes, number each of them and then save the corresponding dollar amount in each envelope. For instance, you put $1 in “Envelope 1,” $2 in “Envelope 2,” and so on. By the end of 100 days, you'll have saved $5,050.
How to save $5,000 in 3 months challenge? ›
You can save over $5,000 in just over three months with the 100 envelope challenge. It works like this: Gather 100 envelopes and number them from 1 to 100. Each day, fill up one envelope with the amount of cash corresponding to the number on the envelope. You can fill up the envelopes in order or pick them at random.
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.
How much is 100 envelopes? ›
Take stock of your savings At the end of 100 days, you'll have 100 envelopes containing $5,050. That's right—1 + 2 + 3 + 4 and every other number through 100 equals just over $5,000.
What is the 30 day cash challenge? ›
One way to make saving money easier is to try the 30-day savings challenge. Here's how it works: When you have the urge to make an impulse purchase, wait for 30 days and give yourself time to think about it. While considering the purchase, deposit the money you need for it into a savings account.
What is the $20 boss challenge? ›
$20 Boss is a free-to-access program that provides a tangible way of supporting students to learn, identify and talk about the skills they're building. $20 Boss supports students to solve a real problem and helps them better understand their relationship with money.
Is it possible to save $20 a day? ›
But don't panic if saving 15% of your annual income is a bit out of reach right now. It's OK to start small. In fact, you could start by setting aside $20 a day, five days a week.
What is the 20K challenge? ›
Join #TeamPSCSupport and choose your own 20 kilometre challenge to take on between 1st - 30th April 2024. That could be: A 1K walk, run or cycle every day for 20 days. Two 10K walks, runs or cycles. One 20K walk, run or cycle.
How much does the average 20 something have in savings? ›
In fact, people in their 20s were able to save an average of nearly $5,580 last year, according to data from New York Life, putting them third on the list of age groups that saved the most in 2023. That's less than the average amount of $7,148 people in their 20s aimed to save, but how much should you really be saving?