How to Save Money Fast: Try These 3 Cash-Saving Challenges!Lifestyle The List
Money-saving challenges are the perfect way to bring the fun back to saving. Lisa Rowan, savings expert with ThePennyHoarder.com, says it doesn't have to be stressful at all. Here are three fun, brand-new challenges to get you started stocking up some cash.
1. The 5-Dollar Challenge
In this challenge, you take every random $5 bill that you find in your wallet or your pockets at the end of the day and stash them aside. There are some rules to follow, though. You can't cheat by having someone break a $20 for you. You have to go with those random bills that are leftovers from a trip to the grocery store, or that you find around the house. The only limitation to this challenge is that it's cash only, but after a certain period of time, you'll be surprised at how much it adds up!
2. The No-Spend Challenge
Here's one that'll really put you to the test. What you do is spend no money for a month, apart from your normal bills and recurring expenses that you're obligated to pay. However, you'll have to cut out anything like trips to the movies or the hair salon to see how much you can possibly save over the course of a month. That means no unnecessary trips to Starbucks either!
3. Weather Wednesdays
Now this is a way to make saving money "cool." You keep track of the weather over the course of a month. For example, you look at a Wednesday that had the highest temperature for your area, and that's how much money you put into your savings. Want to jazz things up a little bit? Try it with friends or family in different parts of the country. Imagine how much you'll save during triple-digit weather in Arizona!
Saving money doesn't have to be boring. Have some fun, invite friends and family, and have a blast putting sunshine in your rainy day fund!
Will you be giving any of these challenges a shot? Let us know in our Facebook page @TheListShowTV.