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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
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.
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FAQs
After completing the 100 envelope challenge, you'll have saved $5,050. Each envelope will have a certain amount of cash, from 1 to 100. When you add all the envelopes together — $100 + $99 + 98 + $97, and so on, all the way down to $1 — the total amount comes out to $5,050.
How to save up $300? ›
10 Tips for Saving $300 in 30 Days
- Skip drive-thru coffee and fast-food lunches. ...
- Do an audit of all your bills. ...
- Cut the cord(s). ...
- Cancel memberships and subscriptions you don't need. ...
- Set up an automatic transfer from checking to savings. ...
- Sell stuff.
11 Easy Ways to Save $1,000 in 30 Days
- Create a Budget. ...
- Automate Your Savings. ...
- Create a Savings Bingo Sheet. ...
- Negotiate Your Bills. ...
- Separate Wants From Needs. ...
- Plan Your Meals. ...
- Buy Generic Brands. ...
- Cancel Unnecessary Subscriptions.
Here are a few more ways to save $5,000 by the end of 2023:
- Save $96.16 every week.
- Save $192.31 every two weeks.
- Save $416.67 every month.
- Save $1,250 every quarter.
- Save $2,500 every six months.
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 save $10,000 in 100 days? ›
The idea behind this challenge is to divide your savings goal into 100 parts and save a set amount each day for 100 days. To get started and do this the analog way, you will need 100 envelopes, a pen, and a container to store your envelopes.
How to make $300 dollars really fast? ›
How to Make $300 Fast: 21 Quick Financial Solutions
- Volunteer to work overtime or ask for it. ...
- Sell unused items. ...
- Take online surveys. ...
- Monetize your skills and talents. ...
- Drive for Uber or Lyft. ...
- Deliver for food apps. ...
- Rent out a spare room. ...
- Rent out your car.
Providing freelance services like graphic design, writing, social media management, and video editing on Fiverr can easily facilitate making $300 per day online. Those with expertise in skills needed by small businesses can earn $50 per hour of work quite easily, making $300 achievable with consistent effort.
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.
What is the 100 week money challenge? ›
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. After just over 3 months, you could have more than $5,000 saved.
The goal of the Challenge is simple: save $100 in a 30-day time period through a series of gradually increasing deposits. November has 30 days so every day is a savings day. As shown in the picture below, daily savings deposits start at $1 a day for five days followed by $2, $3, and $4 each for five days.
How to save $500 in 30 days? ›
For something as short-term as this, it may be easier to set smaller, daily goals in order to make saving a part of your daily routine. In order to save $500 in 30 days, you would roughly need to save $17 per day, and this can be a combination of cutting back on spending and making extra money.
How much is $1 a week for a year? ›
All you do is start with $1 in Week One. Then every week after that you add $1 to the amount you're saving for the week. That's it! If you do this, you'll have a cool $1,378 extra in one year's time!
What is the 100 envelope challenge? ›
On day one, put $1 in envelope 1. On day 2, put $2 in envelope 2. Continue this way until day 100, when your final savings deposit of $100 will bring you to a grand total of $5,050.
How much is 1 dollar a day for a year? ›
If you saved $1 a day for a year, do you know how much money you'd have? Roughly $30,000. This is totally 100% true.
How to save $5000 in 12 months? ›
Ways To Save $5,000 in a Year
- “Chunk” Your Savings. The first step to saving $5,000 in a year is to break down your savings goal into manageable portions. ...
- Automate Your Savings. ...
- Save in a High-Yield Saving Account. ...
- Track Your Cash Flow. ...
- Boost Your Earnings. ...
- Declutter for Cash. ...
- Evaluate Your Subscriptions. ...
- Challenge Yourself.
By following these steps and tricks, you could save up to $10,000 in three months.
- Set a goal and a budget.
- Pay down your debt.
- Evaluate and limit spending.
- Increase income streams.
- Make lifestyle edits.
How to Save $5000 in 3 Months [2024]
- Create a Budget and Plan.
- Pick up a Side Hustle.
- Sell Things Around Your Home.
- Refinance Debts.
- Cut Unnecessary Expenses.
- Reduce Living Expenses.
- Try an Envelope Savings Challenge.
- Use Cash Back Apps.
