The 40 Day Money Saving Challenge

It’s been a while since I’ve done a budgeting post on the blog, but I thought I’d create a money-saving challenge. It’s a 40-day challenge, because I think you can make a huge impact on your finances in 40 days. Also, it’s Lent, so this would make an amazing challenge to complete over Lent. Imagine being able to increase your giving by Easter – as well as having more money to spend on Easter Eggs, of course!


The 40 Day Money Saving Challenge

  1. Start a spending diary. Buy a notebook and write down everything you spend money on over the next 40 days.
  2. Set a budget. Find out more in this post: How to set a budget.
  3. Save money on your meal plans. Check out the Eat Like A King meal plan on Eat Not Spend.
  4. Save money on your heating bills by turning down the radiators in rooms you don’t use. Find out more in this post from Twinderelmo. 
  5. Review your television and streaming packages. Find out more in this post from Welsh Mum Writing.
  6. Have a look at The Sun Superdays and decide if you want to take advantage of the amazing offers. Thanks to Kiddo Adventures for this tip.
  7. Look at the different current accounts on offer. Check you are using one that is right for you.
  8. Check your budget for things you might have forgotten to budget for: Gifts, Cars, Annual payments etc. Find out more in this post from Adventures in Websterland.
  9. Have a clear out and list something you’d like to sell on eBay.
  10. Don’t buy any food at all for as long as you can. Instead, eat from your cupboards and freezer, as suggested by Pushing the Moon.
  11. Make packed lunches for work and take coffee from home rather than getting takeout.
  12. Save money on your mobile phone – follow these tips from Midwife and Life.
  13. Check your car insurance and see if you could save money. Follow the tips in this post from Household Money Saving.
  14. Sign up to TopCashback and get ready to start earning.
  15. Have a look at this post by My Everything Beautiful and have a look at the freebie sites.
  16. Look at your work benefits package and make a note of the brands on offer.
  17. Have a look at Zeek, as recommended by The Money Whisperer.
  18. Download the ReceiptHog app, as recommended by The Money Panel.
  19. Call your mortgage provider. Check if you are eligible for a better deal.
  20. Go through your direct debits. Cancel any that you don’t use.
  21. Open a savings account. Find out how I organise my savings in this post: How to make a savings plan.
  22. Look at your monthly outgoings. Do any of your bills go out on an awkward date (e.g. 2 days before payday)? Ring up and change your payment date.
  23. Check you are on the best deal for gas and electricity.
  24. Make up a snack pack for the car to avoid petrol station impulse buys. Useful things to put in there are dried fruit, flapjack bars, crisps or popcorn and a bottle of water.
  25. Invest in a good reusable drinks bottle and a reusable coffee cup for the whole family.
  26. Make a list of all the places you can go locally without spending any money.
  27. Go to a museum for the day. Take a packed lunch with you and try not to spend any money.
  28. Plan some frugal dates. Check out my ideas here: 10 frugal date night ideas for January
  29. Join your local library and borrow some books.
  30. Watch YouTube for exercise classes and find your favourite new channel. I like Fitness Blender.
  31. Look at any outstanding debts and work out a payment plan. Find out more in my post on How to pay off debts.
  32. Look at your budget and work out how much you spend on different categories in terms of percentages. What surprises you?
  33. Go through all your regular payments and work out the renewal date (especially for insurance). Put this date in your diary with a reminder 2 weeks prior to remind you to look for better deals.
  34. Find your loyalty cards and find out how much you have on them.
  35. Repair something rather than replacing it.
  36. Create an email address specifically for vouchers or money-saving sites. This way it won’t clog up your inbox. Sign up to money saving newsletters and check them before you buy anything.
  37. Go through your spending log. Work out what you’re buying that’s unnecessary.
  38. Go through your spending log again. Work out where you could have made better choices.
  39. Gather up some DVDs that you don’t watch and sell them on Music Magpie.
  40. Review your memberships (gym, Amazon Unlimited, Audible etc) and cancel any you don’t use.

And after The 40 Day Money Saving Challenge?

You can find loads more tips in these posts:

51 of the best frugal living tips from Savings for Savvy Mums

18 Ways to save money in 2018 from Emma and The Girls

Quick and Easy Ways to Spend Less and Save Money from The Growing Mum

50 moneysaving tips from Katykicker

How to save money by The Frugal Cottage

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