My mind has a natural tendency to track and organize finances throughout the year. It’s not tedious or demanding; it’s more like an instinct that flows into my everyday routine. There’s a certain fondness I’ve discovered ever since I started working for money, and now I enjoy letting our money work for us. Financial management has become a balanced game of playful experimentation and structured diligence, with the ultimate goal of growing our net worth over time. With a focus on price comparisons, intentional investments, and money challenges, Brian and I continually find ways to reduce unnecessary expenses and leverage our resources.
As we close in on the end of the year, I find myself reflecting on our financial standing and looking ahead. Is it too soon to get started on next year’s financial goals?
Looking Ahead to 2026
Financial planning looks different for everyone. For us, we appreciate getting a solid head start. It gives me all kinds of good feels. I’m nerding out on finances here, but I genuinely believe that a head start makes a huge difference in helping us stay focused all year long.
Through values-based budgeting, we ‘spend’ our money on investments and other categories that reflect our priorities. Naturally, this eliminates wasteful spending. Instead of chasing quick wins, Brian and I have our sights set on long-term gains. And so, as I look forward to next year, I’m excited to already have our IRA contributions ready to go! Plus, we’re taking the time now to review different investments and saving strategies for later.
Mini Money Challenges to Save More
Whether you instinctively prioritize future financials or are just looking to score extra savings before the holiday season, there are a number of creative strategies to cut costs and save more.
Mini money challenges offer a really simple way to help you save small amounts more regularly.
Here are some quick challenges you can try right now to kickstart your savings in an easy, low-stress way:
Homebody Happy Hour
Holy smokes, can we talk about drink prices these days?! Even mocktails have taken on a premium charge! The price tag on these beverages is sometimes as steep as an entrée, which has caused us to skip drinks altogether. As a mini money challenge, consider pulling back on imbibing while out and about. Instead, challenge yourself to create your favorite mocktails and cocktails at home.
Though it seems like a throwback to COVID-19, hosting a virtual happy hour with friends or family on video is still a super affordable and easy way to connect. Brian and I often video chat with friends across the country and halfway around the world, and it’s become one of our favorite ways to catch up without the cost of a bar tab! Of course, you can always host an in-person happy hour at home, too. Invite others to join with their favorite homemade drink and snack. This experience also cuts down on the cost of an evening out.
Truthfully, we’ve cut back considerably on our drinking. Our homebody happy hours now feature a selection of sparkling waters, smoothies, and other non-alcoholic options. Removing the alcohol expense altogether, even at home, has made a big impact on our savings.
Whether you choose to host happy hour at home with coffee or cocktails, the key is to experience the ease and enjoyment it brings without the hefty price tag!
Restaurant Reset
Do you find yourself dining out way more frequently than usual? Between the busyness of work, family, and errands, many of us resort to the convenience of dining out versus a home-cooked meal. While this temporary relief is tempting, it negatively impacts our waistlines and savings.
Limit dining out to a specific number of times, such as once or twice per week. Brian and I used to eat out often, but we saw the light and started making more meals at home. What were previously fun and affordable outings have shifted into expensive and lower-quality experiences, prompting us to redefine our standards. As a result, we’ve since streamlined our diets, learned new recipes, and discovered low-cost hidden gems, some of which we’ve stumbled on from the Too Good to Go app!
Another way to challenge your restaurant visits would be to pick up takeout orders. This eliminates the additional cost of a tip and the temptation of ordering more food and drinks while at the restaurant. Picking up an order also makes it more of an intentional purchase rather than choosing delivery, forcing you to actually decide if you truly want takeout.
No-Spend Weekend
One of my favorite mini money challenges! A no-spend weekend means that you spend no money on anything outside of bills. Research free local events, host a game night, or enjoy a movie marathon at home. Whatever you decide, take this challenge as an opportunity to get creative and have fun beyond the standard of everyday consumption and entertainment.
Consider creating a ‘bucket list’ of free activities in your area that you’ve been wanting to try. This can include visiting local parks, hiking trails, and other community events. Planning these outings can turn a no-spend weekend into an unexpected adventure.
No-spend weekends are pretty easy-going for us; Brian and I pass the time with:
- Window-shopping at thrift stores and estate sales
- Picking up pine cones and doing yard work
- Hiking trails in local and state parks
- Settling into good books or movies
- Working on a home project
- Researching for our next adventure
- …and more!
Subscription Diet
The typical American spends almost $1,000 on an average of 4.5 subscriptions every year. Millennials, in particular, tend to have even more, often managing anywhere from 6 to 11 subscriptions. Given the amount, it’s no surprise that 45% of millennials find it difficult to track how much they spend on them each month. If you are part of this statistic, try taking a step back to look at the bigger picture.
Ask yourself: How many of these subscriptions do you actually use? Take a moment to create a list of your must-haves versus your nice-to-haves among your subscriptions. Then, cut the ones you find least valuable. Canceling just 1 or 2 subscriptions can free up anywhere from $15 to $50 each month.
Double to Invest
Straightforward and empowering, the Double to Invest mini money challenge helps build wealth while curbing unnecessary spending. Before you purchase a discretionary item, take the cost of that purchase and transfer that amount to your investment account. This effectively doubles your spending, as each purchase prompts you to ‘spend’ money on your financial future.
Before long, you might find yourself reconsidering that nonessential purchase, as you realize that you’ve already committed that amount to your investment. This added awareness makes you think twice about whether the item is actually worth it. Challenge yourself to consistently double the cost of any unnecessary purchases for a whole month. By the end of it, you’ll be surprised at how much you’ve saved, and you’ll have a better idea of what you truly value.
Policy Check-Up
If you haven’t checked on your insurance policies in a while, you’re going to want to pull up a chair and spend a little time on this! Out of all the mini money challenges, this one might just offer the most savings. Many people set their policies and forget about them. Unfortunately, they have a tendency to become more and more costly over time. Though insurance policies are intended to protect you, they can turn into an expensive burden when they go unchecked!
Of course, life changes, and so do rates and coverage options. Review your current policies and shop around for competitive quotes! Make it a priority to check on them annually. Even if you don’t find a better policy, you might uncover discounts that could lead to substantial savings. A phone call or two to negotiate might just make the difference of a few hundred dollars.
Library Love
For our regular readers, I know I might sound repetitive in my library shout-outs, but bear with me! Libraries are amazing resources that don’t often get the recognition they deserve. Their benefits are seriously worth repeating. They offer everything from free access to books and audiobooks to streaming services, workshops, and events. Taking advantage of these resources is a great way to free up some extra cash!
Instead of your usual monthly entertainment expenses, challenge yourself to swap those activities for what your local library has to offer. Brian and I love visiting our library to explore different lectures and community events. Plus, we can borrow passes for free admission to a number of local attractions, including museums, theaters, and state parks! It’s such a budget-friendly way to enjoy easy reading and fantastic experiences, all while pocketing some quick savings!
Savings Made Simple
Ultimately, these mini money challenges remind us that saving doesn’t have to be complicated. By making small, manageable adjustments, we can easily find ways to score some extra cash and support our financial well-being.
Our decisions and actions today will absolutely impact our finances tomorrow. And honestly, I’m so pumped that Brian and I are already putting some of these challenges into practice. Whether we reimagine what we already have, attend free events, or even skip some dinners out, these little changes still offer plenty of quality time and joy. I really enjoy experimenting with ways to boost our savings without missing out on the things we love.
With a bit of effort and creativity, you can discover what works for you and create your own mini money challenges. You may learn that it isn’t all that impossible to scrounge up savings, whether you need it next month or next year! Every little bit adds up. So, start small, stay consistent, and save for your tomorrows.
What’s one mini money challenge you’d like to take on first to boost your savings this month?
2 Responses
Don’t forget that you are your own best advocate of quality home maintenance items. There is a wealth of good information online to guide you towards small repairs that can be accomplished without hiring professionals. There are all sorts of resources available for little or no charge that can be leveraged to complete simple to medium level repairs. The same can be said for automobile services. Oil changes and other fluid exchanges, while sometimes messy, can be completed in a few minutes and can save hundreds of dollars, and can be beneficial to extending the life of your vehicle.
Thank you for this fantastic addition! You’re right, taking care of both home and car maintenance ourselves can save us some serious cash. And with so many online resources, it’s easier now than ever to learn how to make simple repairs. It’s not just about the money saved, either. There’s so much value and empowerment in learning how to do these kinds of repairs on your own!