Perhaps you have seen my Penny Savings Challenge video or you are just looking for a Printable Penny Savings Challenge Checklist to use to save some money!
A penny saving challenge is a savings plan that involves setting aside a specific amount of money each day, starting with a small amount (such as one penny) and gradually increasing the amount saved each day.
The goal is to reach a certain savings goal by the end of the challenge. There are different variations of penny saving challenge.
The printout below is the 365 days challenge, which starts with saving $0.01 and ends with saving $3.65 on the last day.
This checklist is awesome for anyone and especially your kids. The way the challenge works is you start off by saving ONLY one penny! Then the next day you increase the saving amount by an additional penny equaling 2 cents. Each day you add one more penny to that savings.
Penny Savings Challenge
The most you have to save in a day is ONLY $3.65 which is less than a Starbucks coffee! You can also learn how to save at Starbucks for this year too!
Any coupon or sale from the store that week will help you with that savings and you will barely feel the difference! At the end of the year, once your checklist is all marked up, you will have some great money saved up!
You will have $667.95! What will you do with that amount of savings? Will you go shopping to treat yourself? Put it toward a vacation fund? or just help pay off a bit more debt? It is up to you!
Saving money is tough! Something seems to always come up where you need the money. I know that feeling! Just today we had an emergency visit to the vet that cost us $450.
So the money we were saving up had quite a bit of a deduction. Stuff happens to everyone. At least we had a little bit saved. There have been times in our lives when we didn’t have that saved and had to use our charge card.
Printable Savings Checklist
Get your Penny Savings Challenge Checklist HERE!
Also, let us know what you will do with that savings!
Other Saving Challenges:
Another variation is the 52 week money challenge, where the starting amount is $1 on week one and ends with $52 on the last week.
The basic idea behind this challenge is to make savings a habit, and starting with a small amount and gradually increasing it, makes it easier for people to stick to it.
Barbara Riffe says
Good plan, my husband and I never spend out change. We always bring it home and put it in a Peanut jar. Usually saving around 200.00 each year.