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7 Free Money Saving Challenges + Printables

By September 8, 2021December 21st, 2021Money, Save Money8 min read
free money saving challenge

Are you looking for free money-saving challenges? Well, this article covers seven save money challenges you can participate in and five challenges I’ve created that you can download for free.

Money-saving challenges are the easiest and most fun way to save money without losing track or forgetting to save.

A money-saving challenge transforms saving into a game instead of a chore, and it’s ideal for any age group. These challenges would also be suitable for parents to teach kids how to save money from an early age.

Without further ado, let’s jump straight into the seven different challenges.

Also, you can download your free printables below. 😄

What is a Money Saving Challenge?

A money-saving challenge is a specific challenge with one aim, to make saving money more fun.

These challenges help you save to a predetermined money goal (like $5000) and give you exact amounts you need to save every week/month to reach the goal.

The most basic challenges include a 52-week money-saving challenge. Still, creative ones like no spending, spare change, and more will all be discussed below.

How do you participate in one?

To participate in a savings challenge, all you need to do is print out the challenge that suits your finances. Whether $1000 in 52 weeks or $10,000, just choose one relevant to the money you earn.

Next, choose a circle at the beginning or ending of every week, save the specified amount, and color the circle in. At the end of the 52 weeks, you’ll have saved up to the amount labeled on the printable.

You can save the money in a savings jar or a bank account; just choose whichever one is easiest for you.

Just a heads up, you can also start a savings challenge at any time throughout the year; it’s not dependant on specific dates or months.

7 Save Money Challenges

52-Week Money Challenge

The most used and straightforward savings challenge on this list is the 52-week money challenge. Every week, you choose a circle, save the specified amount, and color the ring in.

After 52 weeks, you’ll have saved up the predetermined amount, like $1000 or $5000.

It’s also the most manageable savings challenge to participate in because you don’t have to figure out the numbers yourself.

So far, I’ve created 52-week challenges for amounts of $1000, $2000, $3000, and $5000, and I plan to make more in the future, so keep an eye out for them. 😃

Free Money Saving Challenge

26-Week Savings Challenge

Another easy challenge to participate in is a 26-week savings challenge. It’s precisely the same as the 52-week challenge but just cut in half.

You could choose to finish it in 26 weeks or 52 weeks, whichever one suits you best.

To finish it in 26 weeks, simply choose a circle every week, save the amount, and color it in.

To finish it in 52 weeks, save bi-weekly (every fortnight), and follow the steps above.

This is a great challenge, as you don’t have to save as frequently as the 52-week version.

Recommended read: 7 Simple Ways to Find Motivation to Save Money

Monthly Savings Challenge

This challenge is for anyone that wants to save money less frequently.

Like the two challenges above, the principle is the exact same. Choose a savings goal, and save for it once a month.

You could also save a specified amount four times a month, as I’ve shown below. Again, it is up to you and what suits you best.

If you’re someone who wants to get straight into saving and doesn’t care about filling out dozens of circles, this saving challenge is probably ideal for you.

save money challenge

Spare Change Challenge

The first savings challenge on this list with no predetermined goal at the end is the spare change savings challenge.

Every single time you use cash and get change, don’t spend it! Instead, take all of the change and put it into a money jar.

I like to start my spare change challenge at the start of the year and open it up around Christmas time. You could also finish the challenge once the jar is completely filled.

Spare change might not sound like a lot, but just 75c of spare change a day can add up to $273.75 within a year.

Gift Savings Fund

Another relevant savings challenge is creating a gift savings fund. This gift fund can be for holidays or birthday gifts, just whichever one suits you best.

I save $5 a week for gifts, which adds up to $260 a year. This money is strictly used for gift-giving, and it’s great to have dedicated money when birthdays and Christmas come around.

I’ve also found it easiest to auto-deposit from my bank account into a dedicated savings account and start it at the beginning of every year.

Adjust the amount weekly to whatever fits your budget. 😃

No Spend Challenge

A no-spend challenge is where you spend a period of time without spending any money.

To answer your questions, yes, you can still spend money on living expenses like rent, groceries, gas, and more. But, the challenge is more to limit yourself on unnecessary costs.

What you’re allowed to spend money on:

  • Rent/mortgage
  • Groceries
  • Transport
  • Healthcare
  • Bills

What you’re not allowed to spend money on:

  • Online shopping
  • Dining out
  • Food delivery
  • Memberships
  • Entertainment

While it is a bit extreme, this no spending challenge will really help you save more money, and it will teach you that you can go without certain things.

$5 Savings Challenge

The last of the free money saving challenges on this list is the $5 one. It uses the same concept as the spare change challenge. Whenever you have a 5 dollar note in your wallet, save it.

I use this challenge in conjunction with the spare change challenge, as it’s easier to have two going simultaneously, and I’ll save a lot more.

You could also change the $5 for $1 and save that bill or coin every time you receive one in change.

Even just one $5 bill saved every week can add up to $260 a year.

five dollar savings challenge

Good times to start a savings challenge

If you’re unsure of when you should start a savings challenge, here are three ideas for when to begin one.

Right now

What are you waiting for? Start a savings challenge right now!

Instead of procrastinating and putting off your savings, start one right now. Six out of the seven savings challenges listed above can be started at any time throughout the year; there are no specific dates needed.

So, instead of waiting for the right time or ‘next month,’ start one now.

Start of the year

Another excellent time to start a savings challenge is at the beginning of the year. It’s a clean slate, and you can get going straight away.

But, if it’s the middle of the year, don’t wait six more months. Start one now like I’ve mentioned above.


Yet another good time to start a challenge is on a specific holiday. I like to start my savings challenges on Christmas day and open up my last savings jar.

It’s fun to go from Christmas to Christmas with savings, and it’s like a reward on Christmas day.

You could also start a savings challenge on New Year’s Day, Independence Day, Thanksgiving, and more.

Wrapping Up

So that wraps up my list of the seven free money saving challenges.

Hopefully, you’ve been able to find a money-saving challenge that’s relevant to you.

I’m always creating new savings challenges for my email list, so be sure to come back to this page in the future to check if I’ve added more.

They’re an excellent way to learn how to save money and help you stay on track with your finances.

The challenges also make for a fun little gift for children, which will help them learn the importance of saving money from a young age.

Which of the free money saving challenges do you plan on participating in?

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