FINANCIAL BOOT CAMP
Money Jar Challenge
Save up to $250 in just 10 weeks with this simple savings challenge.
Change is all around us.
I'm talking coins, people. Although you may not want to pick them up from the ground anymore, you probably see them in your car and even have some jingling around in your purse or pocket right now! I don't need to tell you how their value can really stack up, but instead, I challenge you to take saving your spare change and extra dollar bills to the next level.
Try out our Money Jar Challenge!
It's so simple and you only need a collecting vessel to get started. It can be a jar, a milk jug, Gatorade bottle, shoebox, piggy bank, really anything that can hold your collection in one place! We've even included free printable tags to get you excited about this money jar challenge.
Don't feel like counting? Consider these fun digital money jars from Amazon that will count your contributions for you!
Once you have your money "jar", you can strategize your savings in 3 ways:
AVOIDED PURCHASES
Add money each time you successfully avoid making an unnecessary purchase.
Example: Skip the $4.95 latte at Starbucks and instead put $5 into the money jar. Pack lunch twice a week, and $15 goes in the jar. Etc...
Potential savings if you do this for 10 weeks: $100 if you skip two $5 purchases a week.
INCREMENTAL SAVINGS
Add money weekly adding a small additional amount each week.
Example: For week 1, add $3 to the jar. At week 2, add $6. Week 3, add $9. Etc...
Potential savings if you do this for 10 weeks: $165 if you add $3 each week to your total weekly savings.
Print our FREE Incremental savings printable!
COIN-BASED SAVINGS
Represent each day of your savings by a coin, such as nickels, dimes, or quarters.
Example: There are 70 days in our 10-week challenge. For each day, add one dime multiplied by the number day in the challenge. Day 1 = 10¢, Day 5 = 50¢, Day 25 = $2.50.
Potential savings if you do this for 10 weeks: $248.50 at the end of 10 weeks following a dime x day scenario
Print our FREE Coin-Based Savings printable!
Dress up those coin jars!
To incentivize your savings, we made some printable tags for your jar based on your savings goals! Whether you're saving for a shopping fund, travel, or just rainy day, you can visualize your goal each time you add money to the jar.
Don't carry cash? Try a virtual money jar!
Whether you don't feel comfortable carrying cash or just prefer contactless payments, you can still save with a money jar even if it isn't physical! Apps like Digit and Qapital help you save money by setting and achieving your goals. You can get a 30-day free trial for both these apps; they then range between $3 - $5 each month.
If you're looking for a free virtual money jar, check with your bank as some offer similar budgeting tools. You can also try setting up automatic monthly payments from your checking account to your savings account. This way, there's no need to make any additional purchases.
Want more ways to save?
Check out these 13 ways to save money you may have never tried before!
INVITE YOUR FRIENDS!
Help your friends save some extra money too! Invite them to join our 10-Week Financial Boot Camp.
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