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?