Unique Money Challenges to Tackle with Friends & Family

New year, new financial goals—why not make your goals a group effort? Collaborative money challenges are exciting ways to stay motivated and work toward your savings or debt-payoff resolutions. Here are some challenges to try out with friends or family!

1. Reverse Spending

   • Each person selects an expense to cut out or alternate with a less costly or free option. Share progress at the end of the month and celebrate how much was saved!

   • Encourage younger savers to "reverse" by trading a treat or toy for something free, like an outdoor adventure or library visit.

2. Budget Bingo

   • Create bingo cards with squares like “Pack lunch for a week,” “Save $20 on utilities,” or “Find a free activity.” The first to get five in a row wins bragging rights—or a fun, frugal prize!

   • Children can make their own bingo cards with simpler goals like “Skip snacks at checkout” or “Find loose change at home.”

3. Daily Swap 

   • For one week of each month, swap a regular expense for a cheaper option (e.g., brew coffee at home or save on gas expenses by using public transportation, if possible). 

   • Kids can swap activities: screen time for a puzzle or playtime with friends instead of pricey outings.

4.  Shared Savings Pot

   • Each person sets aside a random amount (e.g., $1.23, $4.56) and adds it to a shared savings pot whenever possible. Watch it grow fast! At the end of the month, use it for a group treat or donate it to charity.

   • Teach kids to stash coins they find or dash to help organize family savings jars.

     
     

Why Group Money Challenges Win

• Built-In Support: Cheering each other on makes sticking to goals easier.

• Collective Creativity: Group problem-solving leads to new ideas for saving.

• Family Fun: Teaching kids about money becomes an engaging family activity.

  
  

Ready to make 2025 your most financially savvy year yet? Rally your group and start today!