Setting money aside for the future might fall in the ‘adulting’ pile of your life, because, and let’s be honest… sometimes it may not feel particularly exciting 😴

To help reinvigorate your enthusiasm for the process, we’ve put together a list of fun ways for you to turn stashing cash into a competition for you and your friends.

This could mean that you’re more likely to stick with it over the long-term, or meet your objectives quicker ⚡️ It doesn’t matter whether you’re trying to pay off debt, build an emergency fund, or prepare for your future. These money challenges will keep you feeling fully engaged and financially fit 💪

The bad habits challenge

This is a good way to kick a habit and save money at the same time 🐦🐦

To take part in this challenge, you and your friends must first agree what habits you are aiming to ditch ✋ Anything from stopping smoking to canning the fizzy drinks.

Each time you succumb to your demon, you must put a predetermined amount of money into a jar (Plum Pockets are great for this).

At the end of the challenge you’ll either have said sayonara to your habit... or squirreled away a load of money in the process 🤑 Sounds like a win-win to us!

The Monday-to-Sunday challenge

This is a rolling challenge that works on a weekly basis, over a set timeframe.

Each week you start by stashing £1 on Monday, £2 on Tuesday… and continue through to the end of the week, when you tuck £7 away on Sunday 📆 The starting amount is up to you, but based on our example, this challenge works out as £28 per week, or £112 every month.

The Monday-to-Sunday challenge is a great one if you’re anticipating some kind of shared expenses (so if you’re planning a group holiday with your pals, this is the one for you), as you can quickly track if one of the gang isn’t keeping up 🥵

The spare change challenge

We all tend to rely on cash less than we used to, but even if you prefer contactless to counting coins, the spare change challenge can still help you stash some extra 💰

The concept is simple… see how much ‘loose change’ from your purchases you can accumulate over a set period of time. If you tend to spend on your card then you can use an app like Plum to Round Up your purchases automatically 🤖

365 day / 52 week challenge

These challenges are similar in that they both require you to commit for an entire year! 😮 Although many people choose to begin their challenge at New Year (it can make a great resolution), they can be started at any time.

The 365 day (or Penny Challenge) involves setting aside 1 pence on the first day, 2 pence on the second, and continuing right through to £3.65 on the final day of the challenge (£667.95 over the full duration).

The 52 Week Challenge works in much the same way… although the stakes are raised somewhat. Here you’ll tuck away £1 in the first week of the challenge, and build up to £52 in the last week (£1,378 in the course of a year).

The nature of these challenges means that the largest contributions are reserved for the end of the year (whenever you choose to start it). So given that Christmas and New Year can be an expensive time anyway, it might make sense to commence these particular challenges at a time with less outgoing scheduled 💸

The no takeaway challenge

With people leading ever busier lives, it’s hardly surprising that for many of us an over-reliance on the convenience of takeaway food can be a cause of concern 🍕

This challenge is a great way to help you make healthier meal choices and also put your spending on a diet at the same time!

The premise itself is very simple… you’re not allowed to order takeaway for the duration of the challenge. Though, it’s up to you and your friends to decide how broadly you want to apply this! The restriction can be limited to a particular problem restaurant, or extended to a blanket ban on takeaway in general ⛔️

If you anticipate that willpower may be a problem, you can even agree on additional penalties for any infringements as a way to provide extra motivation.

The no-spend challenge

The final challenge on our list is probably the hardest, but also the one which can potentially make the biggest impact on your overall financial situation 📈

Despite the challenge name, you are still able to pay for necessities (e.g. bills, food and transport), but the aim is to avoid all spending on non-essential purchases.

All of the challenges we’ve detailed can be enhanced by getting your mates involved, but here their participation will actually make the task a little easier! Entertainment tends to consume a big portion of any budget, so it’s hugely beneficial if you can coordinate fun and free activities with friends who are also in on the challenge 👨‍👩‍👧‍👦

If you’re looking for more ways to improve your financial situation and would like to learn more about Plum then you can check out our website.

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