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This is an easy 26 weeks money saving plan for beginners with a free printable template and saving tips.
If you’re one of the many who struggle to save money because you live pay-check-to-paycheck, this practical challenge will help you.
Understand that you are not alone. The last government shutdown demonstrated that 78 percent of American Workers live pay check to paycheck.
If you’re in this situation, you may want to try a money saving challenge for beginner.
The challenge is a plan to save a certain amount of money. Money saving challenges are very popular to:
- Save for a house
- Save for travel
- Save for a wedding
- Save for a car
- Save for a baby
This biweekly, every two weeks, money saving challenge is specifically designed for people who have a small budget, live pay check to paycheck, or who have a lot of debts.
Check out the money challenge sheet at the bottom.
So, if you’re already a pro at saving money or are able to easily save more than $1000, this challenge is not for you.
Better yet, if you can already manage to save $1,000, but you like this challenge’s format, you can still use its ideas. But, make it a $10,000 saving challenge instead.
One more thing – There are many how to save money challenges and plans out there. This plan has been designed by me, using different (my own) amounts to be saved for 26 weeks.
Related content to Saving Money for the challenge
Money Saving Challenge Tips
First, the math of this biweekly money saving challenge.
The challenge: To save $1,000 in one year with 26 deposits.
The how: $1,000/26=$39 (rounded). You can save $39 every two weeks and meet your goal for the year. But, you can adjust this amount up or down, depending on your needs. I will be using different amounts for demonstration.
You can be flexible in your method. However, you won’t need to save much more than the average ($39) in each of the 26 weeks to complete the plan.
The obstacles:Not having enough money to save, having too much debts.
The fix: You can do the challenge if you cut expenses or increase your income or both (new habits). The good news is that you don’t need a lot of extra money.
The fix to having money to save for this challenge depends on your habits. The math is very simple. But, if you’re just starting out with a saving challenge, this process can help your math and your habits.
Once you have managed to do a basic money saving challenge, you can do more advanced ones, easily. You can start closing the gap between your income and your expenses.
The reason is that sticking to the process or method changes your habits. Anyone can do this money challenge if you are willing to put in the work.
Set up a goal reminder for the money saving plan
Some people accomplish things better using a visual board or an organizer to write their thoughts and plans down.
You can use a simple visual board to lay out and manifest your goal (save $1.000). Lists your goal, obstacles and any inspirations on your visual board. Display it to remind yourself of your plan.
Include specifics such as, how much and where you’re cutting expenses. Also include, how much extra money you need to make.
What’s in it for you?
Completing this challenge will make you a more confident manager of your money. But, there are more practical reasons for you to complete this biweekly money challenge.
The money you save can be used for any of these expenses and investments.
For an emergency fund. Life happens and you may need to cover unexpected expenses; such as hospital bills, a leak in your house, emergency car repairs or losing a job.
My point is that an emergency fund is not a luxury, it’s an essential. You decide how much money you’ll need to meet your expenses in case of job loss, for example.
For a vacation fund. A dedicated fund to have fun with your family will reduce your stress and you’ll avoid getting into new debt.
To start investing for beginners. You can start investing with little money. This is an investment you can use for your future retirement.
To fund a child’s education plan. You can help your child by investing small amounts every year into an education plan. This money will allow your child to avoid students’ loans or at least minimize them.
To invest in yourself. You can obtain new skills or upgrade your current ones. Investing in yourself will help you get a better paying job or allow you to side hustle on the Gig economy.
FREE Expense Printables – spending tracking
How to Save for the Money Challenge?
This is a basic money saving challenge for those with a small budget or with high debts. So, how can you actually save even a little bit when money is so tight?
The reality is that you will have to cut expenses, make extra income or both. However, this is an easy task in today’s Gigs economy.
The other good news is that there are many side hustles you can do from home.
There are 52 weeks in a year. You can start making a small amount extra and then get a bit more aggressive.
Below is the spreadsheet for the basic money challenge. These are the biweekly savings, you can start making now.
Note that you only have to save small amounts of $35, $40, $45 every two weeks to complete this money saving challenge.
Download the biweekly saving money challenge free printable template or print the chart below.

This basic biweekly money saving challenge is best for people with small budget who have never completed a challenge before. So, if you’re a beginner, try it out.
This savings plan can be done with a small budget, if you commit to cutting expenses or to making extra cash.
The plan will also make you a better money manager. The best part is that you can try a larger amount in the future with a more aggressive money challenge, using this same format.

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