Money Saving Challenges to Try in 2016

Money Saving Challenges Saving money, like any task, comes easier when you set goals for yourself. You want clearly defined milestones for success, a solid way to track your progress, something to push you to the next level and let you feel good about each small accomplishment. So try these money saving challenges in the year to come; not too hard, not too easy. Just right. 

1) Buy nothing new

This one sounds pretty difficult, but it really just nudges you to think a bit more about how you shop and what you buy. Instead of buying a brand new off-the-rack shirt, grab one at a thrift store. The same applies for appliances, toys, vehicles, entertainment, and anything else you can imagine. Almost everything you might want in life is probably available used, in near-new condition, at a serious price reduction. Make yourself find those deals, and save yourself some money.

2) Save every week

There are a number of weekly money saving challenges out there you can consider, but they all come down to a single goal: save something every week. Some people like to ramp up; $1 the first week of the year, ending on $52 at the end of the year, for example. Or, if that’s not enough for you, you can make it a percent of your earnings each paycheck. The point is to make the deprivation feel like almost nothing, and reap the benefits of an easy success.

3) Clear your pantry

Do you have walls lined with canned goods, boxes of stuffing, bags of flour etc. in your pantry? Then spend a few weeks clearing it out. If you can avoid buying new groceries completely for a while, that’s excellent, but even if you can’t, it’s a good idea to occasionally dig deep and get creative with the goods you’ve already bought—if only to clear out a stockpile of ‘bought because it was cheap’ odds and ends.

4) Clear your debts from smallest to biggest 

This may not be the smartest way to tackle your debts, but if you’ve been struggling to make any headway, it’s one of the more satisfying money saving challenges to take on. With each debt cleared out, you’ll feel more and more equipped and ready to take on the next one on the list. Don’t be afraid to dig deep in your pockets to get an early win; sell unused items on Craigslist or eBay, skip vices for a month, whatever it takes. That first cleared debt is a big deal!

Navigation
Google+ Twitter Facebook

Niiwin, LLC is a commercial enterprise and instrumentality of the Lac du Flambeau Band of Lake Superior Chippewa Indians, a federally-recognized sovereign Indian nation (the “Tribe”) and operates within the interior boundaries of the Lac du Flambeau Reservation. Niiwin, LLC is chartered under and operates pursuant to Tribal Law. Loans from Lendgreen are governed by the laws of the Tribe, not the law of your resident state.

This is an expensive form of borrowing. Lendgreen loans are designed to assist you in meeting your short term borrowing needs and are not intended to be a long term financial solution. The Annual Percentage Rate (APR) applied to your loan will vary depending on the pay period. The maximum APR on any Lendgreen loan is 795%. Before borrowing, please consider whether you will be able to repay the amount you borrow. Any instances of late or no-payment may be subject to additional NSF and late fees, and collection activities. Cash advance services through this website are not available in all states and state availability may change from time to time without notice. Lendgreen does not lend to residents of AR, GA, MD, MN, NY, PA, VA, WV, WI, or to members of the military.

Lendgreen does not perform credit checks through the three main credit bureaus (Experian, Equifax, TransUnion). A credit check or a request for your credit report may be executed in some circumstances to determine loan approval status through an alternative provider including but not limited to, Clarity, DataX and Factor Trust. These alternative providers will typically not affect your credit scores.

OLA Badge