It’s the money saving challenge time of the year

I don’t know about you but I always feel super skint in January. But I have never done a money saving challenge so perhaps 2019 is the year to start, as a little bit extra in December would be great. It could help with the Christmas shopping or be a payment for a summer holiday when the flights are still cheap.

I would love to be booking my holiday right now… sigh. (At the time of writing it is cold winter in cold England.)

The main money saving challenge I’ve seen on the tinterweb is the $1 rising amount per week challenge. So in week one you save $1 or a £1 depending on your currency of choice – week two, $2 – week three $3 and so on and so forth. Lots of fun to start with…

…Until weeks 49, 50, 51 and 52 where you have to save $49, $50, $51 and $52 respectively. Yes the happy weeks of a couple of dollars or pounds are long gone and come the end of the year it gets a bit painful – December is a $200+ saving month, just when finances traditionally can get a bit tight.

So this is my version of the money saving challenge. It’s not as neat numerically so if you like the linear-ness of the 1 – 2 – 3 – 4 – 5 etc version, then stick with that.

My version is more of a “payday” savings challenge if you like. The numbers go up and then down and then up again, but every 4 weeks there is a $20 saving – which should co-incide or be near to payday. You can adjust so it works for you obvs.

There is never a week when you have to save more than £20.

That works for me because I can usually cut back on something enough to save $20.

Below I have made a printable chart that you can cut out and stick on your savings tin or diary or desktop, or get it printed on a T shirt or whatever you want to do with it. I would love it if you got it printed on a T shirt. Let me know if it’s not the right size for you as I can email you a super large or small version. The Jpeg that is. Only you know what size T shirt you need.

But before you look at the lush printable chart that I made with my own fair hands, let’s have a word about where you are going to put your savings.

Where shall I put the well-gotten-gains of the money saving challenge?

If it’s in my bank account malingering away, I will spend it. Nuff said.

If you are the same, don’t save in a bank account unless it is locked away from your debit card tinged fingers.

I have found a very exciting money saving receptacle for just this job. It is a money saving tin that you CAN NOT OPEN. Well, you can, but you need a tin opener and then you destroy it. So it is for opening only when you really are ready.

The destruction of your money tin won’t stop you opening it if you desperately need the money, but it WILL make you think twice if you are just thinking you might open it to buy a cardigan or a bottle of whisky or you’ve run out of pasta.

Money saving challenge tins USA

IWABM Money Saving Challenge 2019:  Save over $500 the pain free way!IWABM Money Saving Challenge 2019:  Save over $500 the pain free way!

This is is the money saving tin you can buy from the US. It costs about $8. It has Benjamin Franklin on it who said lots of wise things about money. (See money quotes.)

If you click the amazon link or the picture it should take you to Amazon. I will earn a teeny amount of cents for your purchase which will not make me rich but will make me feel appreciated and it won’t cost you more. But feel free just to search it out without using the link if you want.

If you find a better tin – let me know. It seemed a bit harder to find in the US than in the UK. Maybe we Brits have no self discipline!

Money saving challenge tin UK

IWABM Money Saving Challenge 2019:  Save over $500 the pain free way!
IWABM Money Saving Challenge 2019:  Save over $500 the pain free way!

Here is the tin you can buy in the UK. I’ve ordered mine and will post up a piccy when it arrives!

I like the utilitarian plainness of this tin. Apparently it holds up to £1000 but we are aiming for £535 so we should have plenty of room. It costs about £6 but if you buy a few of them for your geeky savings friends (or just for the next few years in advance) you can knock the price down to about £2 per tin.

As per the US tin, the pic and the links are affiliate links which means I earn a few pence if you buy one. No biggie if you don’t use the link but I’ll be chuffed if you do.

The money saving challenge revealed…

And now – taaaa daaaaa!

Here is the money saving challenge.

Start whenever you like. I haven’t started yet, because my tin hasn’t arrived but as you’ll see there is no week when you have to save more than £20.

However if you save all the amounts as per below you will have saved $535! or £535 by the end of the year!

US money saving challenge printable

IWABM Money Saving Challenge 2019:  Save over $500 the pain free way!

And here’s the UK money saving challenge for those of you who like the queen’s head on their moulah.

UK money saving challenge printable

IWABM Money Saving Challenge

Come on…. do it with me!

If you think someone else might be up for this challenge, please share this article on Pinterest or via social meedja. Thanks and happy saving…

For more articles about saving money try:

Budget with the 50 30 20 rule

How to save money with amazon

The I Want A Bit More Money saving challenge 2019 with printable and awesome saving tin suggestion.  Save 500 plus in a year without feeling the pain!