Instead of focusing on the amount you can save over a certain period, how about testing yourself to see how little you can spend? One of the ways that I saved the most money is by going through every expense that I had, and I either decreased my costs, or I cut out costs altogether. I made a phone call to each of my lenders, and I asked, “How can I lower my bill?”

But changing your approach to saving money could motivate you to develop better habits as you watch your nest egg grow. Turning saving into a game—even a brief one—might invigorate your money-saving efforts. If you have never tried to save your loose change, it might surprise you how much you can accumulate. This year, I thought it would be fun to create savings challenges for every month in 2019, so I could save even more of my hard-earned dollars. Let's turn the new year into a year of saving so we can reach our savings goals! Make a list of the things that you would like to spend money on during the holiday season, and then prioritize that list so it fits within a realistic budget that you can afford.

Cancel as many things as possible and put the money you would spend on them directly into savings. 18. Little Vices Savings Challenge supercook.com is another excellent resource. Just type in the ingredients you have, and it will provide you with the recipes. To get started, search the item online to get a good idea of how much it's worth. Then choose the platform that you want to sell it on. DECREASE YOUR BILLS SEPTEMBER During my savings journey, I learned how to save money by skipping the name brands and buying generic.

After opening my eyes to how much I was wasting on something that I could make for myself, I set out on a mission to start making my coffee at home. Lots of people have used this challenge as a way to save money. Remember the opening clip in the movie Up? They did it too. myfridge.com is an excellent resource that lets you input the ingredients you have at home, and it will then give you recipes based on those ingredients. This challenge only lasts for 3 months, so if you don’t want to commit to something all year long, this is the one for you. You’ll be even more successful if you do these challenges with your family and friends. Invite them to save money along with you.Here's how the challenge works. Just like in February, where meal planning is the key to your success, the same is true for this challenge. The only difference is that in May, you will be creating all of your meals using food and ingredients you already have at home. Try one or more of these eight money saving challenges to make your endeavor a bit more fun. Whether you prefer to manage your money digitally or have cash on hand, you can make any of these games work for you. 1. 52-Week Challenge This is another challenge that you can do without even lifting a finger. Go into your workplace and increase your 401(k) contribution by 1%.

The challenge for December is to sit down and prioritize your spending. Not just gift spending. You need to think about ALL spending over the holidays – food, gas, decorations, wrapping supplies, Christmas cards, gifts, holiday parties, and get-togethers.You might be asking what to do with all of the money that you saved. Determining your goals is crucial to your financial plan. Maybe you want to pay off debt, increase your emergency savings account, or save for a trip. That's where you are going to use all of the money you save in the new year. Consider opening CIT Bank Savings Builder Account for the money you saved. This challenge is fun to do with roommates or if you have kids at home. Not only does it make saving a group project—you could choose rotating days so everyone has a chance to pull amounts and contribute—but it also gets everyone talking about the process of saving in modest amounts. 8. No-Spend Challenge Even if you can’t afford to do any of these challenges then start small by saving your loose change. Put your coins somewhere you won’t be able to get them out. See the penny challenge. For me, I am going to try and make Mondays and Wednesdays in November true no-spend days, which means I won't spend a penny.