Have you been looking into savings challenges, but they seem completely out of your league or budget?
We previously gave the option for a 30-Day Challenge, and the 52-Week Challenge. If these are too difficult for your budget right now, then we have a fantastic option for you! This money savings challenge is literally only pennies to a few dollars a day: it is the 365-Day Money Challenge!
Keep Reading For More Details On The Challenge
365 Day Money Savings Challenge
The 365-Day Money Challenge starts with you saving $0.01 on Day 1, $0.02 on Day 2, $0.03 on Day 3 and, finally, $3.65 on the 365th or last day of the year. If you stick to this pennies to only dollars a day, you will have almost $700 at the end of the year!
You can use a jar, a piggy bank, or even easier: setup automatic bank transfers from your checking account into your savings account. You simply setup daily transfers for each day of the year. Most banks offer mobile apps, or online banking, with the ability to easily setup automatic transfers with no fees. This can take some time initially, depending on how familiar you are with your app.
However, once the transfers are setup, you don't even have to worry about transferring or putting the money away, your app/bank will do it for you. You setup the dollar amount ranging from $0.01 to $3.65 for each day, make sure you have that amount in your account and at the end of the first year you will have $667.95 in your savings account!
As always with any savings challenge, put the money into an account, or a jar, and don't touch or spend it!
This is the easiest and one of the most affordable ways to save in only one year by putting only pennies to a few dollars away a day!