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This 12-Week $300 Christmas Money Saving Challenge will help you save money to buy gifts for your friends and/or family or you could use the challenge to save money to use for “random acts of kindness” throughout the holiday season – and even continue it into the new year!
![$300 12-Week Christmas Money Saving Challenge (1) $300 12-Week Christmas Money Saving Challenge (1)](data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==)
$300 12-WEEK CHRISTMAS MONEY SAVING CHALLENGE
I know, I know…a lot of challenges all at once but that’s just the mood I’ve been in. 😉 Our 30-Day Full Body Fitness Challenge starts on the first (or you can start now if you want!). We haven’t had a finance challenge in a while so why not now?!
I promise I am going to post more soon about our lifestyle, how we live below our means, and share more about how we save (you can read about some of it here and here). There’s just a lot of different angles for me to go into and I get overwhelmed so that’s why I haven’t published it yet. 😉 BUT I did want to go ahead and publish this 12-Week Saving Challenge so that you have time to get started before the holidays. Read on though, there’s more.
My family wasn’t that crazy about birthdays, and by crazy, I mean we weren’t over the top. Growing up, Christmas was always our big holiday. Just a side note, my family has been selling Christmas trees for over 30 years at our family farm. Christmas was when our entire family got together and it was truly a special day and time. We did also get a lot of presents for Christmas but nothing extreme, especially compared to some stuff I’ve seen lately. When Scott and I got married we did continue on with what some would consider “over the top” Christmas. We didn’t really spend a lot of money but still felt the need to exchange gifts even if it was something that we already knew about (which it always was).
Fast forward, now Scott and I don’t give each other gifts.Instead, we save our money for trips and other experiences. People always ask how we travel so much and it’s because we don’t give anniversary, birthday, Christmas gifts, or gifts for any other holiday or made-up holiday in between. I’m not saying that this is the answer for everyone but it allows us to spend money on what truly matters to us, instead of spending money on things.
RELATED: Read about our travels.
Not only do we save the money we don’t spend on traditional gifts to travel but we also try to donate our time and money to charities throughout the year and during the holidays. The way that we look at it is there are so many people in this world who have so much less than we do. Instead of buying each other something that’s just going to sit around, we would rather help other people. That’s why I wanted to create this challenge. You can use this challenge to save money to buy gifts for your friends and/or family or you could use the challenge to save money to use for “random acts of kindness” throughout the holiday season – and even continue it into the new year! No judgment here – it’s your challenge and you use the saved money as you see fit.
If you follow this money-saving challenge you will end up saving $300 in 12 weeks. This amount of money can easily be saved each week if you cut back on your dining out, drinks out, and unnecessary and small purchases that you probably overlook right now. Things like buying coffee, soft drinks, appetizers, and desserts add up quickly! Skip those!
If you do plan on using this money for “random acts of kindness” some ideas are paying for a stranger’s gas, food, or even put together bags for the homeless or a local hospital! The possibilities are endless! You don’t have to spend money to be kind to others though, you can volunteer with local organizations or visit nursing homes or hospitals. Hopefully what you receive in return will encourage you to continue this after the holidays.
Interested in more money-saving challenges? Try one of these:
- Save $1,000 in 3 Months
- 3 Month Money Saving Challenge
- Beginner 6 Month Money Saving Challenge
- 52-Week Money Saving Challenge
- 12 Month Money Challenge
Looking for a printable version of this challenge? We’ve got you covered!Join our newsletterand you will be taken to a black and white printable version right away! Grab the printable challenge here.
![$300 12-Week Christmas Money Saving Challenge (2) $300 12-Week Christmas Money Saving Challenge (2)](data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==)
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FAQs
You can save over $5,000 in just over three months with the 100 envelope challenge. It works like this: Gather 100 envelopes and number them from 1 to 100. Each day, fill up one envelope with the amount of cash corresponding to the number on the envelope. You can fill up the envelopes in order or pick them at random.
How to save $10,000 in 3 months challenge? ›
03. Seven steps to save $10,000 in 3 months
- Evaluate your current financial situation. ...
- Get your debt under control. ...
- Set a realistic goal. ...
- Try fasting from unnecessary spending for 30 days. ...
- Get creative with your living situation. ...
- Make extra money with a side hustle or freelance gig. ...
- Invest in yourself.
How much do you save in the 365 Day Challenge? ›
It's easy to save a penny, right? Save $0.01 on day one and $0.02 on day two, continuing to add another penny to your savings goal each day. The penny challenge can save you over $600 in just a year!
How can I save $1000 in 3 months? ›
If you wanted to save $1,000 in three months, for example, you'd need to save roughly $84 per week. That timeline can also provide you an opportunity to invest in a high-yielding time deposit account.
How to save $100 in 30 days? ›
The plan works like this: Start off by saving just a dollar every day for five days. For the next five, save two dollars. Increase the amount every five days by a dollar until you reach the point where you're saving five dollars per day, which you'll do for the last ten days of the month.
How can I save $100000 fast? ›
7 tips for getting your first $100,000
- Figure out how much money you can safely save each month. ...
- Automate your savings. ...
- Maximize your employer-sponsored savings and investment accounts. ...
- Save your tax refunds and work bonuses. ...
- Pay off existing debt. ...
- Seek a raise or some other way to increase your income.
How to save $500 in 3 months? ›
How to Save $500 in 3 Months
- Open a savings account. My entire deposits went straight into my checking account. ...
- Create a budget plan. Line up all of your monthly expenses, including the average cost spent on gas and groceries. ...
- Get rid of one frivolous expense. ...
- Set a savings goal.
How to save $1,000 in 10 weeks? ›
For this saving plan, all you have to do is save $100 a week or earn $100, week whether that's through canceling subscriptions, negotiating lower bills, taking on a side hustle or something else. To complete the challenge, save $100 a week for 10 weeks. That's $1,000!
What is the 100 day challenge for saving money? ›
The 100-envelope challenge is a way to gamify saving money. Each day for 100 days, you'll set aside a predetermined dollar amount in different envelopes.
How much money will you have if you save $100 a month? ›
If you save $100 monthly for an entire year, you'll have $1,200 in the bank. But if you keep your savings in a savings account, you'll also earn interest. After one year of keeping $1,200 in a high-yield savings account with a 4.5% APY, you'll earn $54 in interest.
More Tips for Saving 3000 in 3 Months.
- Cut back on unnecessary expenses such as eating out, shopping, and entertainment. ...
- Look for ways to save money on your monthly bills such as negotiating with service providers or switching to cheaper options.
- Meal prep at home instead of dining out or ordering takeout.
What is the 100 envelope savings challenge? ›
The 100-envelope challenge is pretty straightforward: You take 100 envelopes, number each of them and then save the corresponding dollar amount in each envelope. For instance, you put $1 in “Envelope 1,” $2 in “Envelope 2,” and so on. By the end of 100 days, you'll have saved $5,050.
What is the $10,000 savings challenge? ›
The 52-Week Savings Challenge helps you to gradually save up the money to reach your goal of $10,000. This $10,000 Savings Challenge Printable can serve you for so many purposes, such as paying off debt, setting it aside for a house down-payment, taking a vacation, increasing your emergency fund and much more.
What is the penny challenge for 2024? ›
The idea is that you save 1p on your first day, and then add a penny to the amount you save each day. On the first day of the challenge, you save one penny. This rises to two pennies on the second day, three pennies on the third and so on. On the last day of the year, which is the 365th day, you'll save £3.65.
How fast can you save $5,000 dollars? ›
Break It Down Into Months
The first step to reaching any financial goal is to break it into bite-sized pieces. If you want to save $5,000 in one year, you'll need to save approximately $417 a month. That's about $97 a week. Saving almost $100 a week may be a lot depending on your finances.
What is the 3 month savings challenge? ›
If you're looking for a money challenge that doesn't last all year, the three-month savings challenge can help you save $1,008 in just 90 days. Set a reminder to deposit $84 weekly for 12 weeks. You may also find it easier to set automatic transfers to a high-yield savings account.
How to save $5000 in 6 months with 100 envelopes? ›
The 100-envelope challenge is pretty straightforward: You take 100 envelopes, number each of them and then save the corresponding dollar amount in each envelope. For instance, you put $1 in “Envelope 1,” $2 in “Envelope 2,” and so on. By the end of 100 days, you'll have saved $5,050.
How to do a 52 week money challenge? ›
Week 1, you save $1.00. Week 2 you save $2.00, and it continues through the year, adding one more dollar to each week's savings goal. By Week 52, you'll set aside $52.00, which will bring the year's total savings to $1,378! LGFCU offers free financial planning services to help you navigate your personal finances.