The £5 Savings Challenge *UPDATE*
Updated: Feb 4
Good bye January & hello February, I'm here & glad to report that I have completed 31 days of the £5 challenge.
I cannot believe, I've come this far, although (one must confess) I had to out the money in a box, the thought of seeing all that money was too much. My temptation levels went through the roof.
I stumbled across this challenge last year & thought it was super cool & figured why not give it a go. The results & testimonials were really interesting & I figured, I love a little challenge, why not part take! And I did & I'm delighted to say, it's been the best challenge I have ever set for myself.
Now, I have a few other "savings challenges" that I'am running along aside this particular challenge ( A different story for another day)
What Is The £5 Savings Challenge?
You effectively have to save every single £5 note, that comes your way.
It's a really cool method of saving cash & it doesn't have to encroach with your personal savings.
I'm late to the party, literally, it's a big thing in the states & I recently found out that it's also huge in Australia.
I've never been the best at saving money, but oddly enough this
challenge was really straight forward & most of all the testimonials I've watched over the last couple of months have been insane.
I’ve added a slight twist to “My £5 Savings Challenge”.
I aim to save £5 per day over 365 days in the year. (Cool huh?)
I've got a few categorise I will be saving towards (Stay tuned for that)
As promised via my "Side Hustle Sunday" episode on YouTube, this month I will be sharing more side hustle content via my instagram & YouTube live, so be sure to follow me & subscribe.
Ok, so before starting this challenge, I worked out all the categories I wanted to save for in 2020, I won't be share them with you just yet, as this will make sense in the next couple of months.
I'm loving this new journey, my relationship with money is slowly on the mend & I'm boarder line obsessed about personal finance. This was something I never really cared much for towards the beginning of 2019.
Becoming more conscious about my finances has arose the desire to pay attention to other aspects of my life, which is pretty incredible.
A year ago I never would have imagined myself on this path & now that I have stepped out & embraced it, I'm feeling super pumped.
The aim is to put my foot on the gass & step it up by March / April to £20 a day (YIKES)
I'm soo excited, because, it's possible & I cannot wait to share with you guys the results.
The challenge itself is light hearted & fun to by the way.
Oh yes..The Rules
1. Set A Time Limit
Decide how long you to participate in the
2. Save Every £5.00 note you get!
Literally every single note, you must save! (No cheating cheeky)
3. Keep Count
Check up on the fruits of your labour for motivational purposes ONLY!
(Don’t get tempted to spend it)
4. Tell A Friend
This just keeps the challenge fun & competitive.
What do you think of the £5 Savings Challenge?
Will you be trying out the challenge this year?
Or have you ever tried this challenge before?
I 'm not sure when I'm going to do another video on the subject, but I will keep you in the loop.
Until the next time.
Joanna Lampejo, The Savvy Side Hustler