Try a 365 Day Savings Challenge with your family. Every penny counts!
Best Way to Save This Year with a 365 Day Savings Challenge
The beginning of a new year means lots of people are searching for money saving ideas. Everyone wants to know the best way to save this year. I am sure you all have seen the 365 Day Savings Challenges and the 52 Week Challenges too. Honestly, I think the $1 a day one can be pretty intimidating. You would almost have to create a separate budget just to come up with the bigger dollar amounts near the end (of course learning to budget is certainly not a bad idea). I just think for many people it’s too overwhelming to even start.
Every Penny Counts – Penny Savings Challenge
But a Penny a day? That sounds more doable, right? Pennies get the shaft don’t they?! 😉 Just the other day I paid cash for something. My change was literally one penny. And the cashier actually asked me if I wanted it? Like I would rather just throw it away! Little did he know that saving just pennies each day could add up to $667.95 by the end of a year!
Here’s how the 365 Day Penny Savings Challenge works:
- Find a fun jar (a repurposed jar is even better).
- Add a penny to correspond to each day of the year. So on Day 1= $0.01, Day 2, $0.02, by Day 100 (April 10 in non Leap Years) it’s $1.00 to add to the jar.
- I suggest actually using pennies. You will literally see your jar fill exponentially! It’s a great visual and fun to use a coin machine at the end to sum up the savings.
- By the 365th day, your jar will be worth $667.95! (By your 44th week, Nov 1- you will have $475, just in time for Christmas gifts!)
52 Week Savings Challenge- Penny by Penny
If you don’t want to have to remember putting in the pennies each day (I know I would forget). Here is a chart of each week’s totals. On this printable savings challenge form, you will also find the cute label above to put on your jar.
So what do you think? Does Every Penny Count? Easy enough to try this savings plan?
I am on a mission to help you save. Join me on this frugal living mission and together we will learn how to save more, so we can do more living and give more too!
Will you have a new chart for the Penny a day savings for 2019? If so, when will you put up on your website? I did this for this yr 2018. I loved watching it grow. I did one for my husband and one for myself. I still had trouble figuring out how your figures added up under each line, mine was different but when it came down to the last quarter it added up to what you had. I loved this idea more than the dollar one. I agree with you the dollar one would be a little overwhelming and I probably would get very far. It was getting very difficult when it came down to December, but we managed to get it done. Thank you for all of your tidbits. I’m always looking for fun ways to save money. Merry Christmas to you and your family!!!!
Brenda, I did create a new chart for 2019 because you are right- I was off by a little in the “balance so far” boxes, even though my end total was right (probably just got lost in translation when I was making the chart). Thanks for catching that!
I really do think this is such an attainable way to really see that savings stack up. Good luck with the savings in 2019 and thanks so much for being a loyal Mission to Save friend!