Lifestyle
We know that saving money isn't always fun, but we can't deny its importance. It’s essential for everyone, regardless of age, financial status, or financial goals. Without a cushion of savings, it may be difficult to feel financially secure or achieve your objectives.
In this article, we’ve compiled some challenges that will make saving more enjoyable and less tedious. The secret to these saving challenges is that they provide you with an easy-to-follow roadmap. Instead of just saying, "I want to save money," you'll have a step-by-step plan that helps you start saving. When you turn saving into a game or competition, you add a bit of fun and motivation to the process. These challenges are not only enjoyable, but they will also help you adopt a saving habit, explore your financial goals, track your expenses, and finally improve your overall financial situation.
So, if you're ready for some financial fun, pull up a chair and let's explore together 6 challenges that will help you save in an innovative way. Remember, it's okay to start with small steps, as these can lead to significant rewards over time.
52-week challenge
This challenge is simple and exciting! Begin by numbering 52 pieces of paper from 1 to 52, then randomly pick one piece each week, and whatever number is on the paper, you transfer that amount in JOD to your savings account. By the end of the year, you will have accumulated 1,378 JOD! You can do this challenge with your partner, taking turns each week, or each of you can save the same weekly amount to double the total sum.
If you don't like surprises, you can follow a different version of the challenge. Start by depositing 1 JOD in the first week, 2 JOD in the second week, 3 JOD in the third week, and so on. Or you can start with the highest amount, depositing 52 JOD in the first week and decreasing by one JOD each week throughout the year.
No-spend day challenge
If you tend to overspend on unnecessary items, this challenge is suitable for you and could bring you significant savings. Choose a day of the week, say Sunday, or two days if you like more challenging tasks. On this day each week, you should refrain from spending money, so wisely pick this day.
This challenge turns saving into a game by placing restrictions on everything you spend on those days. Your expenses should be limited to essentials like fuel, bills, and groceries. You'll cook at home, find free entertainment options, and challenge yourself to see how much you can save.
Track how much you save on these days and the amount you could potentially save each month. You might be surprised by the amount of savings you can achieve with this challenge, which might even make you think more carefully before making impulsive purchases, increasing your ability to control spending.
At the end of each month, don't forget to transfer the money you've saved to your savings account.
Financial mistake challenge
We all make financial mistakes, but this challenge will help you learn from yours! How? By adding a certain amount of money to your savings each time you make a financial mistake. Every time you make an impulsive purchase or go over budget, you should transfer money in JOD to your savings account.
For example, if you promised yourself not to eat out this week but you gave in to a friend's invitation to dine out, you should transfer the cost of this meal, or a part of it, to your savings. Or if you book a trip you can't afford using your credit card, you'll need to pay a penalty to atone for this mistake by feeding your savings account. In short, with this challenge, you're playing the role of financial police!
This way, instead of feeling guilty or scolding yourself for every financial mistake, you can teach yourself a lesson and increase your savings at the same time! And who knows? Maybe over time, you'll stop making these mistakes.
Change round-up challenge
This challenge enables you to save very small amounts so subtly that you won't even notice you're actually saving! Every time you make a purchase, round up the change resulting from your transactions to the nearest JOD and transfer this change to your savings account. You can easily apply this challenge through our banking app by setting a saving goal.
For example, if you pay 3.50 JOD using your card, 0.50 JOD will automatically be transferred to your saving goal. The amount may seem small now, but over time, you will be able to accumulate a sum that will help you achieve your goal faster and without any effort. You can also speed up reaching your saving goal by multiplying the change up to 10 times!
Weather challenge
In this challenge, you need to allocate one day a week for saving. Where's the challenge?
We'll tell you now. Let the temperature on that day determine the amount in JOD you need to save! Suppose you choose Tuesday of each week, you must check the weather forecast or daily weather app to know the highest temperature that day, then match this number and transfer the amount in JOD to your savings account. With this challenge, you're sure to be able to save a lot of money during the summer!
365-day challenge
With this challenge, you need to save the number of days in the year. Yes, every day! But don't worry, we promise you won't even feel it. You'll need to save one JOD a day, and just like that, you'll have accumulated 365 JOD by the end of the year without even noticing. And you can also save two JOD every day if you want to double the amount. You will benefit from this amount in many different ways, such as booking a travel trip or allocating it to an emergency fund.
To make this challenge easier, set up automatic transfers on our banking app with the fixed payment order feature that allows you to schedule transfers regularly from one account to another based on your preferred timeline.
This way, one JOD will be transferred to your savings account every day, or 7 JOD weekly, depending on your preference. We recommend adopting this challenge along with another to increase your savings.
Money-saving challenges come in all shapes and sizes. Although each operates differently, they all help you achieve the same goal: feeding your savings account.
Feed your account for a chance to win 999 JOD daily for one winner, or a BMW car for one winner at the end of June, September, and December, or a beach apartment in Ayla Oasis - Aqaba for one winner at the end of June, September, and December, or a grand cash prize of 100,000 JOD for one winner at the end of June and December, or one of 9 Lexus cars designated for the provinces at the end of September.
Don't have a Tharwa saving account? Open your account easily through our mobile banking app.
