Have you ever felt overwhelmed or unmotivated by the idea of trying to save money? Perhaps you struggle with the temptation to spend money on fun activities or extra purchases rather than saving. Maybe you have good intentions to set money aside, but there doesn’t seem to be enough at the end of the month.
Regardless of your situation, you’ll make more progress when you learn how to make saving money fun rather than a tedious chore that you’re not good at. Some traditional savings methods can seem boring and cumbersome. But doing something fun that you enjoy AND being able to improve your financial wellness is definitely a reality.
Understanding the Importance of Saving
Money saved today can solve many problems tomorrow. It may seem like a mere accumulation of unused funds, but it is much more than that. It is about financial security and freedom. Here’s why saving money is crucial
Security in Emergencies
Any unforeseen situation or emergency crisis can be easily handled if you have savings to back you. These savings act as a financial cushion that prevents you from falling into debt or stress.
Related: How to Save Your First $1,000 This Year
Why Do You Need a Full Emergency Fund?
Retirement Savings
Putting aside some money for your golden years promises a peaceful and comfortable retirement. It is a long-term benefit that your future self will thank you for.
Financial Independence
Having savings gives you the freedom to make your own financial decisions. Whether it’s starting a new business, buying a property, or planning a trip. Saving money gives you the financial independence to do it all with no need for loans or credit.
Related: 9 Tips for Preparing for Retirement
Step-by-Step Guide to Opening a Roth IRA Account
Achieving Financial Goals
Whatever your financial goal – owning a home, a dream car, or vacation, having savings will push you closer to achieving it. It allows you to step forward towards your dreams.
Related: How to Achieve Goals You Set This Year
Preventing Debt
Routine savings can prevent the need for borrowing and keep you out of debt. It acts as an insurance policy against incurring unnecessary debts.
So, having a healthy savings account not only provides you with a safety net but also empowers you to live on your own terms. It’s not just about putting aside a fraction of your earnings but about ensuring a stress-free life.
Related: Achieving Financial Freedom with the Debt Snowball Method
Prioritizing Your Debt-Free Strategy
How My Husband and I Paid Off $14,354.81 of Debt This Year
How to Make Saving Money Fun
Transforming the process of saving money into a fun activity can significantly boost your motivation and willingness to save. Here are some techniques and strategies that can help.
Make it a Game
Do you love doing challenges or competing with friends and family? Creating a savings game can add an element of fun and competition. You can even get your friends and family involved if they want to save more money too. Here are some ideas:
- 52-Week Money Challenge: This is a game where you save $1 in the first week of the year, $2 the second week, $3 the third week, and so on, until you save $52 in the final week of the year.
- No-Spend Challenge: Try to go a full day, weekend, or even month without spending any money outside of necessities.
- $5 Bill Challenge: Save every $5 bill that comes into your possession.
Related: Best 5 Money Challenges To Improve Your Finances
Setting Exciting Goals
Establishing tangible and exciting financial goals can make the process more rewarding. My favorite thing to save for is travel. I have a travel sinking fund and get excited knowing that I’m setting money aside for a fun future trip. I may brainstorm destinations to go and activities that I’ll enjoy during my trip.
If you’re planning to make a big purchase in the future, this could be another fun reason to save. Maybe you plan on buying a sectional, a new television, or a laptop for your side business. As you shop, research, and plan your purchase, the experience will be more enjoyable when you know that you have savings set aside.
Related: What Are Sinking Funds and How to Use Them
Create Visual Representations of Your Savings
Visual aids can serve as an excellent motivator to make saving money fun. I absolutely love coloring charts and savings tracker worksheets. If you’re on my email list, I give these away for free, and it’s a fun way to track your savings goals and visualize your progress.
You can also print out or make visual aids that support your savings goals. Let’s say you want to remodel your bathroom. To visualize this goal, you might make a Pinterest board of inspirational ideas or hang up a picture of your ideal bathroom.
Another option may be to create a vision board with inspiring ideas, color swatches, and other motivational images and phrases.
Give Yourself a Frugal Reward
Treating yourself while you’re knee-deep in the process of saving for a future goal may sound odd, but it works well when done right. Break your savings goal up and determine small rewards you’ll give yourself when you meet certain milestones.
Maybe you want to save $500 for the month and if you’re able to do that, you’ll treat yourself to a ticket to the new movie you’ve been wanting to see with your friend at the theater. Or, once you reach 1/3 of your emergency fund, you’ll treat yourself to 3 small items from the dollar section in Target or a new shirt.
The key is to find something that really feels like a ‘treat’ or something you’d enjoy and cherish, whether it’s a material item or an experience.
Then, make it clear to yourself that the thing or experience is a treat or reward for reaching a savings milestone. Sure, maybe you would have considered the small purchase anyway. But labeling it as a reward for saving money connects your positive financial habits to an actual prize.
Related: Self-Care: My New Not So Guilty Pleasure to Spend Money On
Get Obsessed With Hobbies That Save You Money
This past year, we’ve just been trying to save more money in general and keep expenses manageable. The cost of everything has gone up. But one thing I’ve been doing is adopting hobbies and interests that save my household money.
I enjoy doing things like making our own laundry detergent, baking desserts, canning produce, and I want to start making homemade candles. I saw a video on Instagram that made it look pretty simple, and I already have a lot of ingredients at home. Now, these are things I genuinely enjoy doing and they save us money.
I also like to go on hikes and explore new trails. We have a lot of great hiking areas in Tennessee and lots of waterfalls. This is something I can do for free. When it comes to me cooking and baking, we can invite friends over to our house some evenings to enjoy good food and for a game night or a bonfire in the backyard. These are fun things that don’t cost much and like I said, we’re saving money.
Maybe you can join a local walking group, book club, or volunteer at an organization that supports a cause you care about. These are all hobbies that you can enjoy while making progress with your savings.
Related: Best Frugal Hobbies For Adults
Summary
If you’ve been bored with saving money or felt defeated by the process, you can definitely make saving money fun. Just think outside of the box and take the pressure off yourself. Break up your savings goals and make it visual or a game with friends.
Be sure to always track your progress so you can acknowledge how far you’ve come. We all know that saving money has so many benefits, but when it’s easier to do when you make the process more enjoyable.
What are your favorite ways to make saving money fun?
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