Mega Money Challenge (click on image to print)
Since the numbers are much higher in this challenge version, the amount needed to be saved toward the end of the year can be quite a bit. In fact, you need to save over $1,000 in December alone to accomplish the goal. For those who would like to make the payments with a more flexible schedule, the alternate version can help. In this version, all the amounts are listed at the bottom of the chart, and you choose which one you want to make each week. This allows you to knock off the larger amounts at anytime, and you can save the lower amounts when finances become unexpectedly tight. This version basically takes into account that life happens and the resources that you thought you would have might not materialize each month as expected. When this happens, there is enough flexibility that you can continue the challenge even if you don’t quite reach the amount you were shooting for each week.
Alternate Mega Money Challenge (click on image to print)
The next question is why stop at $5 for the mega challenge? Why not do a $10 or $20 mega challenge? While these amounts could certainly be done, the truth is that if you’re able to save these amounts then this type of challenge wouldn’t make a whole lot of sense, since you could be doing so much more with that amount of money than sticking it into a bank account.
In the end, the most important part of the challenge is picking the one that is the best fit for your savings habits. If large amounts motivate you to do everything possible to save, then the mega challenge might be perfect for you. If not, then you may want to consider many of the other variations that exist, which might be a better fit:
Zero Effort Money Saving Hacks
If money challenges don’t seem like the thing for you, you may want to use your smartphone to help you save some cash. One of the best savings apps out there is digit.co. What digit does is take a look at your savings balances and then automatically makes a series of small withdrawals to place into savings for you. It is easy to install and once you’ve activated your account, Digit does the rest. It truly makes saving effortless.¬†Check it out at digit.co.
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