Make a new habit with a money saving challenge

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Make a new habit with a money saving challenge

Just like you set new challenges for yourself at the beginning of a new year saying how you are going to be much better than the next year, you can set a money saving challenge for yourself. Your intention is to save more and spend less and bring your finances and waistline back in shape. So, to keep the challenge on and going, first of all, you must set the challenge, resolutions and goals in place and then do everything within your power to stay on that course.

Even if you had one the previous years that you didn’t manage to complete, never give up or lose hope. You have to start somewhere and sometime. No matter what your goals are, even if you only complete a small part of it, it will be better than the previous year where you didn’t complete anything. Money saving challenge works very simply.

You set a goal such as saving money for let’s say three months, and you stick to it. It is easy to do it and the end reward is quite thrilling. In fact, if all goes well, you will start saving for real and on long terms. Completing a challenge is a challenge by itself and it makes you think about all the things you have done and can still do in order to save more money and maybe even complete the challenge before the deadline.

Motivate yourself with the money you have saved

The more you save the more motivation you get to start saving again. Soon, you will start to realize there is a lot of flexibility in saving money and you will continue the tradition. Now, one of the most legendary approaches to a money saving challenge would be a good old the 52 week money saving challenge.

Money saving challengeYou start with one dollar a week only to raise it to two and so on until you reach week 52 and save 52$. At the end of the challenge, you should score around 1,378$ which is not bad at all and you can start the next challenge all over again. If your incomes allow you to invest more money, raise the numbers.

After all, you are doing yourself a favor in the end so the more you save, the better you will feel. When saving money becomes your routine, you will always be able to find a way how to save money for any need that might come your way. You can play with the money saving challenge and instead of starting with a dollar, you can choose any amount that you feel comfortable with from 1-52 $ and place it in a jar each week.

You can also develop your own money saving system as well. Whatever works for you is absolutely fine as long as the goal remains the same. You can also set the tempo of the money saving depending on how frequently you get your paychecks.

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