Monthly Challenges to Boost Your Savings
Small changes can lead to big results, and our Monthly Challenges are designed to help you make steady progress toward your financial goals. Each month, we bring you a new challenge to push your budgeting skills further, add to your savings, or just have fun while managing your money. Whether you take on one challenge or all twelve, these steps can help you achieve a stronger financial future.
Tips for Success:
Commit to the Challenge: Pick one month's challenge that interests you and follow the rules.
Track Your Progress: Use a journal, spreadsheet, or app to note savings or track activity.
Share & Inspire: Let us know how the challenge is going by tagging us on social media with #SmartMapleChallenge
Current Monthly Challenge: November No-Spend Challenge
Objective: Cut back on discretionary spending to focus on essentials
Rules: Avoid spending on non-essentials like eating out, entertainment, and shopping.
Tips for Success: Plan meals in advance, find free activities, and use this time to reassess your spending priorities.
Outcome: At the end of the month, you’ll have a clearer view of what you need versus what you want – and you might be surprised at how much you can save!
Year Long Challenge Calendar
January: Savings Sprint
Objective: Kickstart your year by finding $100 in your budget to save by the end of the month.
Rules: Identify non-essential expenses and redirect those funds to your savings.
Tips for Success: Brew coffee at home, reduce takeout, and review subscription services for potential cuts.
Outcome: By the end of January, you'll have an extra $100 saved and a clearer understanding of your spending habits.
February: Cash-Only Challenge
Objective: Increase awareness of your spending habits by using only cash for purchases.
Rules: Withdraw a set amount of cash each week and spend only what's in hand.
Tips for Success: Plan your weekly budget in advance and avoid carrying extra cash to limit impulse buys.
Outcome: Gain better control over your spending and a deeper appreciation for the value of money.
March: Grocery Makeover
Objective: Reduce your grocery expenses by 10-15%.
Rules: Stick to a meal plan and shopping list to avoid impulse purchases.
Tips for Success: Buy in bulk, choose store brands, and take advantage of sales and coupons.
Outcome: Save money on groceries while enjoying well-planned, nutritious meals.
April: Declutter & Profit
Objective: Generate extra income by selling unused items around your home.
Rules: Identify items you no longer need and list them for sale online.
Tips for Success: Use platforms like Facebook Marketplace or Kijiji, and take clear, attractive photos of your items.
Outcome: A tidier home and extra cash in your pocket from selling unwanted items.
May: Meal Prep Mastery
Objective: Cut down on dining out by preparing all meals at home.
Rules: Plan and prepare meals for the week every Sunday.
Tips for Success: Batch cook and freeze portions for easy weekday meals, and experiment with new recipes to keep things exciting.
Outcome: Save money and time while enjoying healthier, home-cooked meals.
June: Free Fun Month
Objective: Enjoy a month of entertainment without spending money.
Rules: Avoid paid entertainment options and explore free activities.
Tips for Success: Visit local parks, host game nights, and look for community events.
Outcome: Discover new hobbies and activities that don't require spending money.
July: Energy Saver Month
Objective: Lower your utility bills by adopting energy-saving habits.
Rules: Implement at least three new energy-saving practices in your home.
Tips for Success: Lower the AC a few degrees, use fans, and avoid using appliances during peak hours.
Outcome: Reduced energy costs and a more environmentally friendly household.
August: 30-Day Money Cleanse
Objective: Gain insight into your spending by tracking every dollar.
Rules: Record all expenses for the month to identify areas for improvement.
Tips for Success: Use a spending app or a simple notebook to keep track of your expenses.
Outcome: A comprehensive understanding of your spending habits and potential areas for savings.
September: Transportation Transformation
Objective: Reduce transportation costs by exploring alternative commuting options.
Rules: Commit to carpooling, biking, or using public transit for the month.
Tips for Success: Coordinate carpool schedules with coworkers or friends and explore local transit options.
Outcome: Lower transportation expenses and a reduced carbon footprint.
October: Grocery Store Swap
Objective: Save on groceries by trying different stores or brands.
Rules: Compare prices and switch to more affordable options where possible.
Tips for Success: Use weekly flyers to find the best deals and consider shopping at discount stores.
Outcome: Discover new ways to save on groceries without sacrificing quality.
November: No-Spend November
Objective: Focus on essentials by cutting back on discretionary spending.
Rules: Avoid spending on non-essentials like dining out, entertainment, and shopping.
Tips for Success: Plan meals in advance, find free activities, and reassess your spending priorities.
Outcome: A clearer view of your needs versus wants and potential savings from reduced spending.
December: Gift on a Budget
Objective: Celebrate the holidays without overspending on gifts.
Rules: Set a spending limit for gifts and stick to it.
Tips for Success: Consider DIY gifts, set a gift exchange limit, or plan a family Secret Santa.
Outcome: Enjoy a festive season with meaningful gifts that don't break the bank.
