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.
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Challenging yourself, such as by starting the $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 earn over $100,000 a month online through my blog and you can read more about this in 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 $2.95 per month plus you get a free domain if you sign-up through my tutorial.
- Sign up for a website like Ebates where you can earn CASH BACK for just spending like how you normally would online. The service is free too!
- Answer surveys. Survey companies I recommend include Swagbucks, Survey Junkie, Pinecone Research, and Harris Poll Online. They’re free 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 Plan in order to help me eat at home more and cut my food spending. It’s only $5 a month (the first two weeks 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!
- I highly recommend Credible for student loan refinancing. You can lower the interest rate on your student loans significantly by using Credible which may help you shave thousands off your student loan bill over time.
- 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 up through my link, you will receive $5.00 for free just for signing up!
- Find a part-time job. There are many part-time jobs that you may be able to find. You can find a job on sites such as Snagajob, Craigslist (yes, I’ve found a legitimate job through there before), Monster, and so on.
- Lower your cell phone bill. Instead of paying the $150 or more that you spend on your cell phone bill, there are companies out there like Republic Wireless that offer cell phone service starting at $10. YES, I SAID $10! If you use my Republic Wireless affiliate link, you can change your life and start saving thousands of dollars a year on your cell phone service. I created a full review on Republic Wireless as well if you are interested in hearing more. I’ve been using them for over a year and they are great.
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giulia says
Absolutely true small changes big results:D
Michelle Schroeder-Gardner says
Right? 🙂
Kalie @ Pretend to Be Poor says
Very fun and I think this is doable for most people. Probably easier than you might think!
Michelle Schroeder-Gardner says
Definitely!
Holly@ClubThrifty says
Good idea! =)
Michelle Schroeder-Gardner says
Thanks!
Money Beagle says
$20 doesn’t seem like a lot and many would say it’s not worth it to make changes in your lifestyle for a measly $20, but when you take a step back and look at the bigger picture and that it can result in over $1,000 in your pocket in just a years time, it changes the perspective dramatically!
Michelle Schroeder-Gardner says
Right? I love it!
Natalie @ Financegirl says
LOVE this challenge! It’s going to help so many people. I know my readers find it so hard to save and this is a fresh reminder how easy it can be.
Michelle Schroeder-Gardner says
Thanks!
The Green Swan says
So easy and a good way for people to save when they don’t normally. A lot of companies have systems for employees to stash away $20 or however much each paycheck. Another great way for people to not even know they had the money and they can save it!
Michelle Schroeder-Gardner says
Thanks!
Tiffany says
Such a great idea. Most people can come up with an extra $20.
Tiffany says
*Sorry, didn’t put in the full website.
Such a great idea. Most people can come up with an extra $20.
Crystal says
So, I decided to take a big plunge today. I was thinking about this $20 challenge and also thought about the fact that we had not paid any extra towards the principal of our current home’s mortgage…and that has been bugging me. Like a lot. So…I just called our mortgage company and raised our monthly payment from $990 to $1250…a full $260 extra per month…$3000+ per year. We’re 3.75 years into a 30 years mortgage at 4% interest, and this should shave 8 years off of it and save us $40,000 in interest. That means we should be paying off our current home at age 50-51 instead of 58-59. Now…let’s see how much we feel the $260 per month hit. That’s about 4-5% of our monthly budget, so I’m betting it stings a little.
Michelle Schroeder-Gardner says
Sounds like a good decision to me! You can do it!
DC @ Young Adult Money says
I really like this Michelle. It’s a simple, easy, way to save $1k this year. Set up automatic transactions from your checking to savings and you are good to go!
Amanda-LivingFullyandFree says
I love money challenges! BTW I am no longer receiving email notifications when you publish a post, but I did get your Bluehost campaigns. Do you know what happened?
Michelle Schroeder-Gardner says
Hey Amanda!
Hmm I’m not sure. They’re all sent from the same email address, so if you are receiving some then you should be receiving others. You may want to add “michelle@makingsenseofcents.com” to your safe sender list.
Finance Solver says
Ah $1040.. It may not sound like a lot but over the years it is a lot. $20 a week isn’t a lot of money so it’s certainly doable, thanks for putting the spreadsheet together Michelle!
Valerie says
a challenge I can live with!
Jeff Proctor says
So simple yet so effective. Thanks Michelle!
David @ Thinking Thrifty says
All those little bits soon add up. If you start small it feel much less daunting too!
Dannielle says
I prefer this challenge to some of the others floating around. This one is realistic and it has the ability to become a habit. If you put aside $20 before you spend any money, you will surely meet the end of target. The hard part is to save the money and not touch it!
Lisa Hebert says
I love this challeng. It is such an easy way to build an emergency fund or create your own Christmas Club account so you won’t break your budget when the holidays roll around. And once you get used to not having that $20 each week you may get encouraged to up your game to $30 or $40 a week. Small changes can really add up.
Julia says
This is such a great idea! Small amounts regularly seem like nothing at the time (they don’t really affect your bank balance in a big way) but can add up to $$$. My in-laws do something similar with $5 each time they go to the ATM, and they have saved for two Europe trips that way!
Lee says
I have to admit I always start this challenge at bad times when my finances are not in a good spot. I love this idea though. Once I am making more I am going to do it. And thanks for adding the spreadsheet it is very helpful.
Alex Vibin says
Hy Michelle
Your blog post is amazing. It seems like a little amount every week. But after 5-10 years you will have a huge amount. And If we invest this in stocks, bonds, etc. By compound effect, It will be a huge amount than we think. Thanks for this blog post.