Turn everything into a game where you are guaranteed to receive a cash prize.
1. Daily Challenge
Everything is straightforward: every day, you save a certain amount, and by the end of the year, you get 365 times more savings (if we are talking about 2020, then 366). For example, if you save 100 rubles a day, in 12 months, you will collect 36,600 rubles. But you can also increase the amount of income it allows.
This challenge is good for everyone, except for its predictability. Nothing changes throughout the year, which is just boring. Therefore, you can diversify it. Let’s say you start with 366 rubles on the first day and end with 1 ruble on the last. So in a year, you will accumulate 67,161 rubles. But keep in mind: in the first month, you will have to set aside more than 10 thousand, which can be an overwhelming burden.
Read also: How to Choose a Debit Card.
If you don’t want to think about saving daily, you can turn the challenge into a weekly challenge. Here, the principle is the same, but you need to save money once every seven days. If you transfer 1,000 rubles to a savings account, accumulate 52,000 by the end of the year.
2. Challenge “Do not buy – copy.”
This option is good for its unpredictability and element of excitement. An additional bonus is the ability to cope with bad shopping habits and defeat shopaholism.
If you feel like buying something, take 48 hours to think about whether you need it or not, and then give yourself an answer. If you refused to buy, save the saved money. When it comes to something relatively inexpensive, you can shorten your thinking time. For example, if you are in a shopping center and see a T-shirt for 300 rubles, return it to the shelf and continue your walk. Think about the thing before leaving – buy. Do not remember – send money to the piggy bank.
However, there is a risk that the shopaholic in you will win. Therefore, it is worth setting a lower limit for savings. This creates an incentive to reach the bar and give up the purchase with great enthusiasm.
3. Challenge “The remains are sweet.”
Every time before a new receipt of money, put aside everything left from the last payment. So you will close the financial month at zero and not spend too much. But this challenge is only suitable for financially disciplined people who are not prone to spending money. Otherwise, there will be simply nothing to postpone.
Of course, this saving method should be combined with the traditional transfer of 10% of all income immediately after they are received.
4. Challenge “Payback for purchases.”
This challenge means that you set aside a certain percentage of each purchase. You will either have to count a lot or automate the process with the help of banking services that can transfer a percentage of each payment to the piggy bank account. You determine the percentage yourself.
5. Challenge “Cash instead of habit.”
To save money, choose one habit for the challenge you want to get rid of, which pulls money out of you.
Let’s say you want to eat less sugar but regularly drink tea and cake for lunch. If you find the strength to give up dessert and put the money for it in a piggy bank, you will kill two birds with one stone; you will increase your savings and begin to eat less sugar. It is also wise to quit smoking and drinking – you will be surprised how much money you can save.
The challenge is also great for developing good habits. For example, if you wanted to walk more, start walking more often, and save money you could spend on travel.
Adapted and translated by Wiki Avenue Staff
Sources: Life hacker