• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Cult Of Money

Cult Of Money

Personal finance for the crypto-curious.

  • About
  • Podcast
  • Contact
  • Cryptocurrency
      • How To Start

      • What Is Cryptocurrency And How To Invest?
      • What Is Bitcoin And How Does It Work?
      • What Is Ethereum And How Does It Work?
      • Most Common Crypto And NFT Scams (And How To Avoid Them)
      • Proof Of Work vs. Proof Of Stake vs. Proof Of History
      • How To Invest In Crypto In Your IRA Or 401k
      • Tools + Resources

      • Best Cryptocurrency Exchanges
      • Best Cryptocurrency Wallets
      • Best Crypto Savings Accounts
      • Best Tax Software For Crypto And NFT Traders
      • Reviews

      • Coinbase Review
      • Gemini Review
      • BlockFi Review
      • Binance Review
      • Hodlnaut Review
      • Ledger Wallet Review
  • DeFi
      • How To Start

      • What Is DeFi?
      • What Is Staking Your Crypto?
      • Centralized vs. Decentralized Exchange
      • Tools + Resources

      • What Is Uniswap And How Do Decentralized Exchanges Work?
      • Reviews

  • NFT
      • How To Start

      • What Is An NFT?
      • Tools + Resources

      • Most Popular Play-To-Earn Crypto Games
      • Popular Projects

      • What Are VeeFriends And Are They Worth It?
      • Bored Ape Yacht Club NFTs Are Popular (And Expensive)
      • What Is The Sandbox And How Can You Play?
      • Why Visa Bought A CryptoPunk
  • Investing
      • How To Start

      • Tools + Accounts

      • Reviews

  • Personal Finance
      • Banking

      • Best Bitcoin Rewards Checking Accounts
      • Tools + Resources

      • Tax

      • Income Tax Prep Guide
      • Bookkeeping And Accounting For Crypto And NFTs
Saving Money

How to Create Your Own Money Saving Challenge

By Alexa Mason • September 30, 2014

At The Cult of Money, we want to help you navigate your finances. To do this, many or all of the products featured here may be from our partners whom we receive compensation from. This doesn’t influence our evaluations or reviews. Our opinions are our own. Learn more here.Advertiser Disclosure

There are thousands of financial products and services out there, and we believe in helping you understand which is best for you, how it works, and will it actually help you achieve your financial goals. We're proud of our content and guidance, and the information we provide is objective, independent, and free.

But we do have to make money to pay our team and keep this website running! Our partners compensate us. CultOfMoney.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. The Cult of Money does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with).

For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. CultOfMoney.com strives to keep its information accurate and up to date. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website. All products and services are presented without warranty.

Share
Tweet
Pin
Share
Email

money saving challengesOctober must be the month of money saving challenges!

I’ve seen multiple savings challenges among bloggers and have even had random companies tweet me asking me to join their challenges. And you know me, I like challenges!

But instead of partaking in someone else’s challenge this month I’ve ultimately decided to create my own. After all nobody knows my budget like I do.

Do Money Saving Challenges Work?

Money saving challenges can often work. Especially if you’re following a long with a group of like-minded people. The others in your group can motivate you to keep pushing on even when you don’t feel like it. It’s true – there’s power in numbers.

There’s just one little problem: you’re the only one who knows what you need to work on. When you join a money saving challenge created by someone else you can feel left out at times. The creator wants you to work on lowering your grocery budget but you’ve got that under control! Or maybe the objective is to lower your cable and phone bills but you don’t have cable and are pretty sure you’re already paying rock bottom price for phone service.

So what do you do?

Create Your Own or Follow Along?

If you want to take a specific money saving challenge created by a company or a blogger, first check out the contents. Sign up and figure out what sections of your budget you’ll be working on.

If it doesn’t sound like a good fit then create your own challenge.

Here’s how.

Set a Deadline

First set your deadline. How long will your challenge be? It shouldn’t be too short or it won’t be a challenge. It also shouldn’t be too long or it won’t be accomplishable.

Anywhere from 15-30 days is a pretty good timeline.

Choose the Itinerary

Make a long list of everything you need to do and arrange those items in the order that makes the most sense.

Plan out your entire challenge with specific, measurable tasks that you need to do each day.

For instance your plan might look like this:

  • Day 1 – Cancel DirecTV and sign up for Netflix
  • Day 2 – Negotiate bill with cell phone provider
  • Day 3 – Call credit card companies and get my interest rate lowered
  • Day 4 – Create a New Budget

Tailor your plan specifically for YOU!

Find Support

And last but certainly not least find some accountability. You can start a free blog at WordPress.com and keep track of your progress, invite friends to join you, or post the day’s accomplishments on Facebook.

The more accountability you have the better you will do.

Current Challenges

Would you rather join a savings challenge instead of starting your own? Here are some challenges you can join and a few that you can do by yourself!

  • 31 Days to Radically Reduce Your Expenses @Creative Savings Blog
  • The Money Saving Challenge @Good Financial Cents
  • The Clutter Free Challenge @Living Well Spending Less
  • 6 Awesome Money Saving Challenge Ideas @Budgets are Sexy

Have you ever participated in a money saving challenge?

Alexa Mason
Alexa Mason

Alexa Mason is a freelance writer and wanna be internet entrepreneur. She is also a newly single mom to two beautiful little girls. She chronicles her journey as a single mom trying to make it big at www.singlemomsincome.com.

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities.

Comment Policy: We invite readers to respond with questions or comments. Comments may be held for moderation and are subject to approval. Comments are solely the opinions of their authors’. The responses in the comments below are not provided or commissioned by any advertiser. Responses have not been reviewed, approved or otherwise endorsed by any company. It is not anyone’s responsibility to ensure all posts and/or questions are answered.

Primary Sidebar

  • Facebook
  • Instagram
  • Pinterest
  • RSS
  • Twitter
  • YouTube

Editor’s Picks

  • 8 best cryptocurrency exchanges ranked

    8 Best Cryptocurrency Exchanges Ranked For 2023

  • crypto savings accounts

    6 Best Crypto Savings Accounts For 2023

  • Cryptocurrency Bonus Offers

    10 Best Crypto Promotional And Bonus Offers

  • best crypto wallets

    Best Crypto Wallets For 2023 (Software And Hardware Options)

  • Best Portfolio Trackers For Cryptocurrency And Stocks

    6 Best Portfolio Trackers For Cryptocurrency And Stocks

  • best tax software for crypto and NFT traders

    Best Tax Software For Crypto And NFT Traders In 2023

Popular Posts

  • proof of work vs. proof of stake vs. proof of history

    Proof Of Work vs. Proof Of Stake vs. Proof Of History

  • Why I Bought An NFT

    Why I Bought An NFT [And 5 Reasons You Should Too]

  • My Dogecoin Experiment: What I Learned From Investing $2,000 In DOGE

  • common crypto and nft scams

    Most Common Crypto And NFT Scams (And How To Avoid Them)

  • Bookkeeping and Accounting for Crypto and NFTs

    Bookkeeping And Accounting For Crypto And NFTs

  • what is a 51% attack

    What Is A 51% Attack? (And How Is That Game Over For Crypto?)

  • what is staking crypto

    What Is Staking And How Can You Make Money With Your Crypto?

  • what are veefriends

    What Are VeeFriends And Are They Worth It?

  • how to file a complaint against crypto exchanges

    How To File A Complaint Against A Crypto Exchange [Crypto Regulators]

Footer

Pages

  • Best Cryptocurrency Wallets
  • Best Cryptocurrency Exchanges

Categories

  • Cryptocurrency
  • DeFi
  • NFT
  • Personal Finance

About

  • About The Cult Of Money
  • Contact
  • How We Make Money
  • Advertise With Us
  • Facebook
  • Instagram
  • Pinterest
  • RSS
  • Twitter

Copyright © 2023 | Cult of Money | Privacy Policy | Terms of Service