How to Save $7,000 This Year With the $5 a Week Savings Challenge

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$5 challenge
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If your goal is to have a more financially secure future, you can start out on the right foot today with our $5 savings challenge.

Introducing the $5 a Week Savings Challenge

‘C’mon, it’s just $5…what’s the big deal?’

How many times have you said that to yourself and then blown $5 on something that added little, if any, long-term value to your life?

If you’re like most people, the answer is “plenty of times!” But imagine if you could say “no” to yourself just once a week and redirect that money in your life.

That’s all it takes to begin the $5 savings challenge.

Save $7,000 in a year with $5 a week

Our plan eases you into the idea of progressive saving, raising your savings amount by $5 each week. But the nice thing is that it happens slowly enough that it’s actually doable.

By increasing your savings rate just $5 more each week, you’ll have nearly $7,000 by the end of the year when you participate in our challenge!

Now, some people will look at our $5 challenge and think, “OK, no problem.” But others will look and feel like there’s no way they could possibly come up with the money to do our challenge.

If you’re in the latter camp, you’re going to have to come up with some ways to make extra money.

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Don’t worry, we can help you with that, too!

The place to start is with our list of 20+ Ways to Make Extra Money. We researched legitimate ways to make extra dough that can have the greatest impact on your bottom-line.

As one reader posted after reading our list, “When it comes to make some extra cash, most of the world [is] just running after faster ways. But authentic ways cannot be fast. The ways you have shared are authentic and helpful for the people to make more money.”

Give it a read today so you won’t have any excuse to bail on our challenge halfway through!

Final Thought

We’re big believers in the power of five and hope you will become one, too. Now the only thing left to do is to get started on our $5 challenge!

When you’re ready to begin, you’ll probably want to open a dedicated account with an online bank to hold your weekly deposits. Doing this will really help you maximize the impact of your savings efforts.

Did you know that $7,000 saved in a bank account that pays 1.80% APY would earn $127 after growing all year? That’s a lot of five-dollar bills, isn’t it?! Check out our updated list of the best high-interest savings accounts for your money here.

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