Feeling the effects of that early pay day in December? Tired of having no money to fall back on when you’re skint?
It’s time to change the way you save money.
In 2022, we’re making saving money fun with viral challenges provided by the internet. NetVoucherCodes have searched far and wide for the most popular money-saving challenges that actually work.
There’s 22 to choose from so pick a couple and get started. Push yourself to save this year and make sure you’ve got some spare cash set aside for the next rainy day.
1) 100 Envelope Challenge
Have a go at this viral TikTok challenge that can help you save £5000 in 2022. All you have to do is label 100 envelopes with the numbers 1 to 100. Then, each week, pick two random envelopes and put the amount that’s written on them inside. For example, if you pick 16 & 40 you’ll be saving £56 that week.
If you don’t like carrying cash then simply transfer the amount into a bank account instead. And, if it’s proving too much, you can always cut down to 50 envelopes to make it easier on your bank balance.
2) 52 Week Savings Challenge
If you’re serious about saving then dive straight in with the 52 Week Savings Challenge. As you might have guessed, this challenge requires you to save every week for the whole year. In week one, you start off small, saving just £1. Then, you increase the amount you’re putting away by £1 every week until you reach £52 in the final week of the year. If you complete the challenge and save during all 52 weeks, you should have pocketed a total of £1378!
3) Cash Machine Challenge
This challenge helps you to cut down on those unnecessary contactless payments. Swap contactless and Apple Pay for cash and keep an eye on how much you’re spending each day. Budget a certain amount of money for amenities during the week and withdraw it from the cash machine on Monday morning. By keeping your cash in hand you can physically watch the pennies drop and make sure you’re not over spending.
4) Weather Wednesdays Challenge
Get over the hump with a bit of cash in your back pocket using the Weather Wednesdays Challenge. Every Wednesday, save the amount of money equal to the highest temperature in your town or city that day. At first, this should be easy, but as the summer months roll in you’ll see your savings increase. And let’s be honest, for all of us living in the ‘sunny’ UK, this challenge should be easy.
5) Penny Jar Challenge
Find a penny and pick it up, all day long you’ll have good luck! How often do you walk past loose change in the street or toss your 1ps and 2ps to the curb? Stop throwing away spare change and save it instead. You may think it’s pointless, but trust us, it adds up. Find yourself a big jar and throw any spare change you have inside it. Depending on how big the jar is, you could save yourself hundreds!
Why not make it a bit more interesting? Throw in the occasional £1 to bump up the price and get a nice surprise when you crack open the penny jar at the end of the year.
6) 365 Day Penny Challenge
The 365 Day Penny Challenge is another way to save loose change. Pinch every penny and save up to £667 by the end of the year. All you have to do is save one penny on the first day and then add a penny to your total, each day, until you’re saving £3.65 on the 31st December. This is such an easy way to save without the need for large sums. Simply stash the bits of change you won’t miss and watch your savings fund gradually tot up.
7) No Alcohol Challenge
Okay, so dry January might be a bust but that doesn’t mean you can’t try again. Choose a quiet month of the year when you don’t have much going on and try your hardest to make it alcohol free. Not only is this a great way to maintain those ‘get healthy’ new year’s resolutions, it’s also an easy way to save money.
If a month is an unrealistic commitment, then why not do little things like choose water instead of a beer or wine when you next go to a restaurant? Instead of heading to the pub after work why not go for a run or do a home workout? These little changes will not only save you cash, they’ll also keep you healthy, so it’s a win win all round!
8) Coffee Break Challenge
Another simple way to save is to cut back on all of those unnecessary payments throughout the day. One way to start is by swapping those overpriced Starbucks iced lattes with your own home brew. Make your coffee at home before you head to work each morning or make sure you’ve got all your favourite ingredients in at work to make your favourite coffee on your break. If you’re not sure, just try it for a month and see if you notice any difference.
9) Supermarket Price Limit Challenge
At one time or another we’ve all gone into a supermarket with 3 items on our list and come out with a whole basket or even a trolley full of stuff we didn’t need. Avoid this trap by setting yourself a price limit. Get your budget straight before you head through the doors, withdraw the amount you want to spend at a cash machine and leave your card in the car. This way, you can make sure you’re only spending what you need to spend.
You can even make it into a bit of a game by challenging yourself to get exactly what you need with the limited amount you have. Who knows, you might find some bargain supermarket-own products while you’re at it.
10) Bike To Work Challenge
This is one that’s become popular all over the world to the point where company’s actually offer Cycle to Work schemes for employees. If your work doesn’t have anything in place, try doing it on your own. Bike to work each day and save your petrol money for longer journeys. By biking to work not only will you save, you’ll also be doing your part for the environment while staying active! That’s your ‘get fit’, ‘save mToney’ and ‘do your part for the planet’ new year’s resolutions all taken care of at once.
11) £5 Savings Challenge
It’s easy to spend £5 here and there on things like coffees, delivery charges and snacks from the corner shop. £5 doesn’t seem like a lot but it’s all the little charges that add up and leave you skint at the end of the month. This year, try something new. Every time you come across a £5 note save it in a piggy bank or jar. You’ll be surprised at how much you can save doing this for a whole year!
12) Payday Savings Challenge
Looking to become more responsible with your money? Set up direct debits that automatically save a percentage of your paycheck as soon as it comes in. Set aside the amount needed for bills and make sure you have enough every month. Or, do it the other way. Create a direct debit that automatically withdraws money into a savings account and let the total add up over the year until you’ve acquired a hefty sum.
It doesn’t have to be a lot, just £50 a month will get you £600 by the end of the year. It may be hard at first but the challenge is to see if you can budget your money in a way that allows for savings each payday.
13) Cash Stuffing Challenge
Say goodbye to impulse spending and get organised with your money. The Cash Stuffing Challenge asks you to break down how much you spend on every expense- from groceries and bills to takeaways and subscriptions. Then, every month, you withdraw the amount you’ve budgeted for each category in cash and allocate it to a labelled envelope (e.g. put £200 in your “Groceries” envelope). The idea is that you only use the cash in the envelope for that category. So, once the £200 grocery money is gone, you can’t spend any more until your next pay day.
14) Lunch Break Challenge
Feeling tired and bored at work? How easy is it to look for a bit of comfort with a tasty KFC or Mcdonalds on your lunch break. Even your butty order from the local sandwich shop can start to add up. Swap these comfort foods for homemade meals, save money and stay healthy! Make an extra portion when you’re cooking your tea and take the leftovers to work the next day or make a sandwich in the morning ready for your lunch break.
It doesn’t have to be every day. Keep Friday as your cheat day and reward yourself by lunching out. Trust us, it’ll be much more enjoyable after a sensible week of saving and eating good.
15) No Spend Day Challenge
Curb impulse buying and casual spending by setting aside a day where you don’t spend any money. If you work nearby this should be pretty easy. Bike to work, take your own lunch and coffee and come straight home at the end of the day! If you have to commute it might be harder, but that’s the fun of the challenge. Push yourself to not spend- if you see something you want- wait until the next day. When tomorrow rolls around, you’ll probably find you don’t even want it anymore.
16) No Spend Weekend Challenge
Take it one step further and attempt a no-spend weekend. Once a month, choose a weekend where you stay at home and don’t spend money Friday-Sunday. Take a break from those Friday night takeaways, go for a walk in your local park and enjoy spending time at home with the family. Just make sure you don’t overspend the next weekend to “make up for it”.
17) One Off Spending Challenge
If the thought of not being able to spend anything for a whole day or weekend seems too hard then why not try the One Off Spending Challenge instead? This challenge requires that you only spend money once during the day, so you better make it worthwhile!
18) No Spend List Challenge
Online shopping is the culprit behind most impulse spending. If you are a victim of this, challenge yourself with a no spend list. Make a list of things you don’t want to spend money on this month, whether that’s clothes, viral TikTok products, FIFA packs or even things like betting apps and takeaways. Select a time period on your calendar app where you can’t spend on a specific thing or shop at a specific store. Delete the shopping app that’s at the root of your spending and count down the days until you can use it again. At the end of it, you may even find that you don’t want to download it again.
19) Receipt Savings Challenge
Do you like to look at how much you saved during your shopping trip? We’ve all seen the ‘You saved….’ print at the bottom of our supermarket receipt, sometimes it may only be a few quid but after a big shop it could be a decent amount. This challenge asks you to actually put aside these “savings” by withdrawing the exact amount you saved into a savings account or by putting the cash in a jar. It may not seem like much but, in the long run, this is one of those little things that can really add up.
20) Supermarket Own Brand Challenge
Next time you’re at your local supermarket doing your big shop try swapping expensive big-branded products for some of the store’s own-brand items. You may not like the idea of swapping your brand favourites for the cheaper stuff but did you know that most of the time they’re the exact same product? Give it a go and find the branded things you don’t mind substituting. We guarantee you’ll make some savings along the way.
21) Bad Habit Money Jar Challenge
2022 is the year you finally knock those bad habits on the head. Do you want to quit smoking? Are you tired of missing workouts? Kick your bad habits to the curb and save some money while you’re at it. Every time you find yourself giving in to your vices, put £1 into a jar. This way, even if you do fall off the waggon, you’ll still have something positive to show for it.
22) Christmas/ Holiday Savings Challenge
Saving is helpful but it is also important to budget for a little pleasure! This type of challenge is not only useful but fun. Save for an expensive event, whether that be Christmas, a big family holiday or the 6 weeks break. Put money away for the occasion each week and by the time it rolls around, you’ll have enough saved to enjoy it properly!
By saving gradually each week, you won’t have to dig a big chunk out of your paycheck and leave yourself skint. Instead, you’ll have the money ready and waiting. Not only is this more sensible, it will also help you enjoy your down time without having to worry about the debt you’ve had to go into to get it.
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