Jumpstart Your Savings in 2025: 9 Expert Money Challenges to Try!
Did you go a little overboard with online shopping or enjoy one too many girls’ getaways in 2024? If your credit card is feeling the burn, it’s time to kick off 2025 on a more financially savvy note. Those Steve Maddens may look fabulous, but did you really need ten different pairs?
Keep Reading: 6 Things the Middle Class Should Sell To Build Their Savings
Discover: Dave Ramsey: This Common Monthly Payment Is Costing You Millions
It’s never too late to cultivate better financial habits, trim unnecessary expenses, and boost your savings. That’s why we’ve gathered nine super savvy ways to jumpstart a frugal 2025, inspired by expert penny-pinchers.
Consider this: Joy Wrenn, the mastermind behind FrugalCreativeLiving.com, recommends a fun 52-week money-saving challenge. Start by saving just $1 in the first week, then add an extra $2 in the second week, and keep ramping it up until you save an additional $52 in the final week of the year.
By the end of the year, you’ll stash away a whopping $1,378, perfect for bolstering your retirement fund or investing in something special. This straightforward weekly contribution makes saving feel effortless!
Discover Next: I’m a Financial Advisor: My Wealthiest Clients All Do These 3 Things
“Pick up the phone and call your cable or internet providers, or any service plan you have, and simply ask for discounts,” advises Laurie Hise, founder of Passionate Penny Pincher. Often, it’s as easy as just asking! Many companies are eager to keep you happy with better rates.
Try committing to one month of minimal spending where you focus solely on necessities like groceries and meds. Ditch those impulsive purchases on trendy apparel and dining out. You might be surprised at how much you can save when you assess what you truly need versus what you can live without.
For a less drastic approach, consider trimming those little luxuries that you pay for but could easily do without. Trae Bodge, a smart shopping expert at TrueTrae.com, suggests skipping manicures or car washes and banking that cash instead. “You’ll be amazed at how those small savings accumulate over time!”
Similar to the 52-week challenge, why not save a penny a day, increasing your savings by a penny each day? Start with $0.01 on January 1st, and by the end of the year, you’ll be saving $3.65 on December 31st.
