Struggling to Save Money? These money saving tricks may help you for the new year!!!!

What’s your New Years resolution? 2020 is almost here, and one of the things I desire to do is save money. Something that has been a challenge for me in the past is consistently transferring money to my savings account after payday. Eventually I would find myself spending most of my paycheck on needs and wants, but I was always told to put some money away for a rainy day!!! Let’s be real! I’m a young adult who has living expenses, and sometimes it can be very hard to budget my finances, which gives me no motivation to save money. I came across these money challenges on the web one day, and I thought to myself that this could be a great way to consistently save money. Putting just a little money away every week could help me improve my savings!

Save Money Easily with the $5 Savings Challenge

The 52-week challenge is set up where you could have $1,378 by the end of the year, and all you have to do is deposit the dollar amount equivalent to the week! The $5 dollar challenge is also interesting, and I think it would work well for people who prefer using cash instead of credit card! For every $5 that comes into your possession, you add it to your savings!

Many people have stated that these money challenges have improved their saving habits, and that it can also be a fun way to stash away money for the future. Although there are many savings challenges out there, this one may be a good start for young adults who want to develop their saving habits! According to a study it takes 30 days to form a habit, and by that time we’ll have $10-$15 saved up for the year!

1 thought on “Struggling to Save Money? These money saving tricks may help you for the new year!!!!

  1. This is something that I’d probably use! I’ve always tried saving money but it’s a big commitment when money is always needing to be used!

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