Saving money doesn’t always have to seem like a chore. Sometimes, it can feel more like a game. This way, it’ll be an easier transition to turn these tasks into daily habits. Try out these five money-saving challenges to make saving more fun.
1. Treasure Hunt Challenge
There’s hidden treasure that can be found in your house. All you have to do is to look in drawers, bags, pockets, and you’ll most likely find spare change. Instead of keeping your coins lying around the house, put it somewhere it can actually grow, like a savings account.
2. Bring your own food challenge
With employees now working in offices and students soon returning to school for face to face classes, buying food nearby would seem more convenient. However, buying food everyday can be very expensive in the long run. For one week, try bringing your own food and drinks to save up. Imagine how much you’ll save by skipping the daily coffee from the nearby café.
3. No shopping challenge
Shopping is now easier than ever. Even while you’re in bed, you can still browse through online stores. For now, resist the urge to purchase that top you’ve been eyeing and look to your closet instead. Everything you need might already be in it. Save yourself from impulse buys and instead find new ways to style an old top or pair of pants. That way, you’ll have a new wardrobe without having to spend anything. The money that you would’ve used to shop can be used to invest or be put in an emergency fund instead.
4. PHP 20 Challenge
Another way to save money is to set aside every PHP 20 bill or coin you have. Whether it’s change from your purchases or a part of your weekly allowance, keep it safe by depositing it in your savings account. Slowly but surely, your collection of PHP 20 bills and coins will be enough to help fund your goals and dreams. If you want to take it up a notch, you can even start collecting PHP 50 bills instead. In the end, it’s up to you and how you can make saving money sustainable.
5. Earn and Invest Challenge
Don’t just keep your savings in a piggy bank. Make your money work for you by investing in side businesses to help generate extra income. At the same time, find a high yielding savings account you can also deposit your money in so it can grow.
At CIMB Bank, you can get up to 8% p.a. interest on your savings! Enjoy 4% p.a. interest in two ways. Just maintain a minimum balance of PHP 100,000 or grow your Average Daily Balance by at least PHP 500 every month in your UpSave and/or GSave account. Earn an additional 2% p.a. interest by paying your Personal Loan Installment due or REVI Credit Minimum Amount Due on time. You can also earn additional 2% p.a. by transacting with a minimum of PHP 500 on the all-new CIMB Bank PH app. Average Daily Balances in excess of PHP 200,000 will earn 2.5% p.a. for UpSave and 2.6% p.a. for GSave. Plus, if you maintain a minimum of PHP 5,000 in your account, you are eligible for FREE Life Insurance coverage that’s worth your ADB up to PHP 250,000.
Click the link below to learn how you can earn up to 8% p.a. interest on your savings:
Deposits are insured by PDIC up to P500,000 per depositor.
CIMB Bank Philippines, Inc. is regulated by the Bangko Sentral ng Pilipinas as a Commercial Bank. You may contact the BSP Financial Consumer Protection Department at (+632)8708-7087 or firstname.lastname@example.org.