As a parent, grandparent or guardian, it is imperative that we save money and it is also imperative to teach our children at a young age about saving money, so when they are older, they will continue to put money on the side for their future. It may also give the idea for them to save their birthday money, etc for the bigger things they may want later on. I believe kids will find the following 365 day Money Saving Challenge easy to follow.
In 2016, my husband and I started giving our granddaughter the change we had and taught her how to put it in her piggy bank, now when she’s here, she asks if she has any money for her bank. 🙂 My sister (her great aunt) is doing the same thing at her house. LOL It’s fun, but I want to start saving for her education that I know she will need help with, as well as our retirement, an emergency fund and money for us to have fun!
365 Day Penny Savings Challenge
Here’s a super easy way to save at least $667.95 this year starting with just a penny (the 365 day money saving challenge)! OR if you would like to go bigger, you can save up to $1,287 this year starting with $1 (the 52 week money saving challenge).
With the 365 day challenge, you start with 1¢ on January 1st, the trick is to increase your penny amount each day by a penny. By Friday January 5th, you should have 15¢ in your jar or piggy bank. Here’s how the 365 Day Penny Savings Challenge works:
- Find a fun jar (or you can repurpose a jar).
- Add a penny to correspond to each day of the year. Day 1= $0.01, Day 2, $0.02, by Day 100 (April 10th in non Leap Years) you will add $1.00 to your jar.
- I highly suggest using pennies. This way you will watch your jar fill rapidly! It’s so much fun to watch it build up and don’t forget 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!)
I highly suggest getting your kids involved with this one, imagine their little faces when they have their own money to spend for Christmas! Yes this would mean doing at least 2 jars for your kids, but it would be worth it!
52 Week Challenge
To start saving with the 52 week challenge, you would need to START with $1.00 on payday. The trick is to increase your dollar amount each week by a $1. If you get paid every 2 weeks, you can still do the challenge, just double it on paydays (start with $3 instead of $1 and follow the chart with your paydays) and on week 4, January 26th, you should have $10 in your jar or piggy bank. Here’s how the 52 Week Dollar Savings Challenge works:
If you are doing the 365 day savings challenge, the most you will put in your jar on the last day of the year is $3.65 tallying your total saved to around $658! Now if you are doing the 52 week savings challenge, the most you will put in your jar on the last day of the year is $52 tallying your total saved to around $1,287!
Either one sounds great to me! LOL I think I will try to do 3 for 52 week and 3 for 365 day and see what happens 🙂 You can also do these plans backwards meaning in reverse order meaning you would start at day 365 or week 52. I will be doing 1 penny, 1 dime and 1 quarter 365 day challenge.
Retirement, Christmas and the Emergency Fund will be 52 week challenge. Money for my granddaughter, a Fun fund and Car will be 365 day challenges.
For Christmas savings, my last amount in would be week 46 which would probably give me a total of about $1081. Black Friday is on November 23, 2018!
What do you want to save up for?
Why not share the chart and get the entire family and or friends involved! Just right click the photo and save, or print.
Share your thoughts in the Comments section below, on our Facebook Page, Our Twitter Account or Head Over To Our Instagram or Pinterest Page! and don't forget to check out our Youtube Channel ♥
Sharing is Caring 🙂
Liked what you read? Perhaps you would also like the below related posts.