7 Weekly Money Saving Challenges That Actually Work

Building a solid savings habit doesn’t have to be overwhelming or complicated.

Weekly money saving challenges offer a structured, manageable approach to improving your financial health while making the process enjoyable.

These short-term challenges can help you develop lasting habits that transform your relationship with money and make saving fun rather than a chore.

From the popular 100 envelopes method to progressive challenges where you start small in week one and build up to larger amounts by week 52, there’s an approach for everyone.

Whether you’re looking to jump-start your emergency fund, pay down debt, or simply become more mindful of your spending, these seven weekly challenges can help you achieve your financial goals. 

By week 2, you’ll already begin to notice positive changes in your spending habits and savings mindset.

1. The No-Spend Day Challenge

The No-Spend Day challenge is perfect for beginners looking to become more conscious of their spending habits.

The concept is simple: choose one day each week where you commit to spending zero money on non-essentials.

During your no-spend day, you’ll rely entirely on what you already have at home.

This might mean preparing meals from your pantry, finding free entertainment options, or postponing purchases until another day.

The beauty of this challenge lies in its flexibility—you can choose any day of the week that works best for your schedule.

Implementation Tips:

• Start by selecting a consistent day each week (many find weekdays easier than weekends)
• Plan ahead by ensuring you have necessary items like fuel in your car and food at home
• Keep a list of free activities you enjoy for entertainment
• Track how much you would have spent and transfer that amount to savings

This challenge not only helps you save money but also increases awareness of impulse spending habits.

Many participants report that after a few weeks, they naturally become more thoughtful about purchases even on their “spending allowed” days.

2. The Spare Change Challenge

The Spare Change challenge transforms those seemingly insignificant coins into meaningful savings.

This classic money-saving technique has been modernized for both cash users and digital spenders.

For cash transactions, simply collect all your change in a dedicated jar or container.

For those who primarily use cards, several digital tools and apps can round up your purchases to the nearest dollar and automatically transfer the difference to a savings account.

How to Implement:

• For cash users: Designate a specific container for all coins received as change
• For card users: Set up a round-up feature through your bank or a financial app
• Empty your change jar monthly and deposit the amount into savings
• Consider using self-checkout machines at stores to conveniently use accumulated coins

One participant reported saving over $15 per month just from spare change, which adds up to $180 annually—a significant contribution toward an emergency fund or a specific savings goal.

3. The Meal Prep Challenge

Food expenses often represent one of the largest discretionary spending categories in most budgets.

The Meal Prep Challenge addresses this by encouraging you to plan and prepare meals for the entire week, significantly reducing the temptation to order takeout or dine out.

Challenge Steps:

• Set aside 2-3 hours on the weekend to plan and prepare meals
• Cook large batches of versatile foods that can be mixed and matched
• Store prepared meals in reusable containers
• Track the money saved by avoiding restaurant meals and food waste

Beyond the financial benefits, meal prepping typically leads to healthier eating habits and reduces food waste.

Many participants report saving $50-$100 weekly by eliminating impulse food purchases and restaurant meals.

4. The “Guess the Bill” Challenge

This challenge adds an element of gamification to your weekly expenses.

Each week, estimate how much you’ll spend on a specific category like groceries or utilities.

If your actual spending comes in under your estimate, save the difference.

How It Works:

• At the beginning of the week, write down your estimate for a specific expense
• Track your actual spending carefully
• At the end of the week, compare your estimate to the actual amount
• Transfer any savings to a dedicated account

This challenge not only helps you save money but also improves your budgeting skills over time as you become more accurate with your estimates.

It creates a positive incentive to find ways to reduce costs since any savings directly benefit your financial goals.

5. The Coffee Shop Swap Challenge

For many, daily coffee shop visits are a significant expense that goes unnoticed.

This weekly challenge asks you to swap your store-bought coffee for homemade alternatives for one week, setting aside the money you would have spent.

Implementation Strategy:

• Calculate your typical weekly spending on coffee shop purchases
• Invest in quality coffee-making supplies for home use
• Experiment with different recipes to replicate your favorite drinks
• Transfer the amount you would have spent to savings

A daily $5 coffee adds up to $35 per week or about $150 per month. By completing this challenge just one week per month, you could save approximately $420 annually—enough for a meaningful contribution to an emergency fund or a special purchase.

6. The “No Eating Out” Challenge

Similar to the meal prep challenge but with a stricter focus, the “No Eating Out” challenge commits you to avoiding all restaurant meals, takeout, and delivery for an entire week. This includes lunch breaks at work and weekend dining.

Tips for Success:

• Plan a full week’s menu before starting
• Prepare grab-and-go options for busy days
• Keep simple emergency meal ingredients on hand
• Make it social by inviting friends for home-cooked meals instead of restaurant outings

The average American household spends over $3,000 annually on dining out.

Implementing this challenge just one week per month could save approximately $60-$100 monthly, depending on your typical habits.

7. The Digital Detox Savings Challenge

This challenge combines financial benefits with lifestyle improvement by pausing paid digital entertainment subscriptions for one week.

Instead of scrolling through streaming services or paid apps, explore free alternatives.

Challenge Framework:

• Make a list of all your digital subscriptions and their weekly cost
• Pause as many as possible for one week
• Explore free entertainment alternatives (library books, free streaming options, outdoor activities)
• Save the equivalent of your weekly subscription costs

Beyond the immediate financial savings, many participants report discovering new hobbies and interests during their digital detox week.

Some even decide to permanently cancel subscriptions they realize they don’t miss, creating ongoing savings.

Making Weekly Saving Challenges Work for You

The key to success with any money-saving challenge is consistency and personalization. Here are some strategies to help you maximize your results:

Track Your Progress

Keep a dedicated journal or use a tracking app to monitor your savings from each challenge.

Seeing your progress provides motivation to continue and helps identify which challenges yield the best results for your specific situation.

Combine Challenges Strategically

While attempting all seven challenges simultaneously might be overwhelming, combining complementary challenges can amplify your results.

For example, pairing the No Eating Out challenge with Meal Prep creates a comprehensive food savings strategy.

Create Accountability

Share your challenge journey with a friend or family member, or join online communities focused on similar goals.

Having someone to report to significantly increases the likelihood of following through with your commitment.

Allocate Savings Purposefully

Decide in advance where your challenge savings will go.

Whether it’s debt reduction, an emergency fund, or a specific savings goal, having a clear purpose for your saved money provides additional motivation.

Beyond the Weekly Timeline

Once you’ve mastered these weekly challenges, consider extending some into monthly formats or creating a rotating schedule of challenges throughout the year.

Many participants find that what begins as a short-term challenge evolves into permanent habit changes.

The “52-Week Money Challenge” and its variations (including the reverse version) offer longer-term structures that build upon the skills developed during weekly challenges.

In the traditional version, you save $1 the first week, $2 the second week, and so on until you’re saving $52 in the final week of the year, resulting in $1,378 saved.

Final Thoughts

Weekly money-saving challenges provide an accessible entry point to improved financial habits.

By focusing on short-term commitments, these challenges help overcome the psychological barriers that often prevent consistent saving.

The variety of approaches ensures that everyone can find challenges that align with their lifestyle and financial goals.

Start with one challenge that resonates with you, track your results, and gradually incorporate additional strategies as you build confidence in your saving abilities.

Which weekly money-saving challenge will you try first?