Have you heard of the 52-week money challenge? At the start of the year, posts and stories about this challenge catch fire, seemingly fueled by the planet’s admirable–albeit temporary–pledge to be financially responsible.
Let’s be real, majority of challengers actually don’t get to finish the 52 weeks. While some troopers get to week 40 and then fall into temptation (Read: Black Friday Sale), some don’t even get past the first month.
We are here to issue a new challenge. Instead of 52 weeks, we’re shaking things up and shortening the challenge to 30 days. Yes, it’s faster and in a way easier than the year-long variant, but the spirit of the challenge remains the same. The idea is that if you can do it for 30 days, you can replicate it every month. And hey, you won’t feel as bad if you quit midway.
A few reminders before we start: Get a piggy bank (or something similar). If you have an old one lying around somewhere, use it. And to make sure that you start fresh, try to begin this challenge the day after your payday.
If you’re ready, let’s head on to the challenge!
Let’s make it simple on the first day. Simply put 20 pesos in your piggy bank. Done!
Craving for a Starbucks coffee? Skip it, and get coffee from the nearest convenience store instead. Take what you saved from this and put it in your savings purse or piggy.
Don’t drink coffee? Put 150 pesos instead.
What day of the week is it? If it’s a Monday, then put 50 pesos in. Put 200 pesos if it’s a Tuesday, 300 pesos if it’s a Wednesday, 400 pesos for a Thursday, and so forth. You get the idea.
Multiply the size of your feet by 20. If you’re a size 6, then feed 120 pesos to the piggy.
What are the last two digits of your mobile number? Place that exact amount in the piggy bank. If your mobile number ends in “00,” then use the last three digits.
Calculate the total amount you’ve spent on today’s lunch and put the same in the piggy bank.
They say age is a number. Let’s turn that into money! If you’re 24 years old, then put 24 pesos in the piggy bank.
How much did you spend for today’s transportation? Take the same amount and drop that in the piggy bank. If you work at home, then you can place an amount that does not go below 50 pesos.
If you’re used to having juice or soda with your daily meal, opt for water instead. This saves you approximately 30 pesos. In the piggy it goes!
This could be a big one. Put in cash equivalent to the last online purchase you made. If the SRP exceeds 1000 bucks, put in 1000 pesos instead.
Do you use the air conditioning when you sleep? If yes, put in 100 pesos; if no, put in 20 pesos.
Pay for your mobile phone bill. Add a fourth of that same amount to your savings purse. For example, if your total bill is 1000 pesos, put in 250 bucks.
If you’re using a prepaid account, then put a week’s worth of load in the piggy bank.
Treat yourself to a well-deserved morning coffee at Starbucks (or maybe a cake if you’re not into caffeine), but put half of your coffee bill in the piggy bank.
Wake up early. Instead of taking an Uber or Grab, take the bus or the jeep! How much money did you save if you had taken a car or taxi? Cha-ching! Put that in your savings purse.
Save exactly 10% of your paycheck. Yes, you need to look at your pay slip and compute 10% of that! Round it up to a whole number. For freelancers, compute how much you earned in the past 14 days.
Treat your self today–buy something, eat at your favorite restaurant, watch a movie. Save the same amount you spent to fatten up your piggy.
Place a 10-peso coin in the piggy. That was easy.
If it’s a weekend, stay at home and don’t spend anything, but put 200 pesos in the piggy. If it’s a weekday, go straight home after work and put in 200 pesos.
It’s day 20! You’re 2/3 of the way there. To celebrate, put 20 pesos in the piggy bank.
Pack lunch from home today and save on lunch money for little miss piggy. That’s 75 pesos in. Put in more if you normally spend more on lunch.
Refill a water bottle and bring it with you. That saves you around 25 pesos of purchasing bottled water for the day. Put in the same amount. Here you go, miss piggy!
Challenge yourself today and multiply your savings. Do all of the saving techniques you did in the past two days. Pack lunch and bring your own water bottle. Hmmm… that’s a total of 100 pesos! Put the same amount in your piggy bank.
Leave your ATM at home and just take a few hundred bucks with you, or just enough to get through the day. Slip 150 pesos in the piggy before you leave your house.
Instead of hitting the malls, you can spend your night/weekend relaxing in front of the TV. Put in 100 pesos to celebrate your binge night.
Put 20 pesos in the piggy bank.
If you have leftovers from last night, put it in a takeaway bag or a food keeper to eat for lunch. You’ll probably save around 100 pesos. Now, put the same amount in your savings purse.
Calculate how much you saved for the past 3 days. Put the same amount in your piggy bank.
Two more days to go! Put 2 pesos in the piggy bank. You’re almost at the finish line!
Take 10% of your total pay and put that in the savings bag as your 30th and last tranche.
You made it! Now it’s time to open the piggy bank. Use this amount to open a new savings account where you can deposit your monthly savings. That wasn’t so hard, was it? Treat yourself to a nice dinner for a job well done.
With this 30-day money saving challenge, you’ve learned several tips to scrimp on daily expenses and save money. Saving is, after all, a mindset and the hardest part is typically at the beginning. You’ve gone over that hump. Try to repeat the same challenge next month. Or better yet, challenge yourself further by doubling each day’s savings.
Planning to open a Time Deposit for your savings? You can estimate your returns by trying out our calculator below.