Savings challenge: start 2025 strong with this family saving challenge - from saving a 1p penny to no buy days
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- January is the ideal time to kickstart a fun and meaningful family saving challenge
- The activity strengthens family bonds while teaching kids vital financial skills
- Visual trackers and mini-challenges keep saving engaging and exciting for all ages
- Parents and kids alike benefit from teamwork and a more mindful approach to spending
- The challenge fosters lasting habits and sets the tone for a financially savvy year
January is the perfect time to set goals for the year ahead, and what better way to start than with a family saving challenge?
This fun, actionable activity not only strengthens family bonds but also teaches kids valuable lessons about financial responsibility. Plus, it’s a great way to get everyone on the same page when it comes to saving for something special.
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Hide AdA family saving challenge isn’t just about money - it’s about instilling lifelong habits. Kids learn the value of delayed gratification and financial planning in a hands-on, memorable way.
Parents, meanwhile, benefit from a more mindful approach to spending. So, kick off the year with this fun and meaningful challenge.


Not only will you save money, but you’ll create lasting memories and set the tone for a financially savvy year ahead.
Here’s a step-by-step guide to kick off your family saving challenge and make it an enjoyable experience for everyone:
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Hide Ad1. Set a family goal
Start by gathering the family together and deciding on a shared savings goal. This could be a fun family outing, a new game or gadget, or even putting money towards a holiday later in the year.
Having a tangible reward in mind will help keep everyone motivated, and encourage kids to contribute ideas. Not only will this make them feel involved, but it also reinforces the idea that saving leads to rewarding experiences.
2. Create a visual tracker
Kids respond well to visual aids, so make your savings progress visible! You could use a jar and add coins or bills each week, or create a colourful savings chart to display on the fridge.
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Hide AdFor instance, if your goal is to save £100 in four weeks, break it down into smaller, manageable increments.
Let the kids decorate the chart with stickers or drawings to make it their own, and each time you hit a milestone, celebrate with a small reward like a movie night at home or a special dessert.
3. Make it fun with mini-challenges
To keep everyone engaged, add weekly mini-challenges that encourage savings and creativity. Here are a few ideas:
- No-spend day: Pick one day a week where the whole family avoids spending any money. Get creative by cooking meals at home, playing board games, or exploring free local activities.
- Find and save: Challenge everyone to search for loose change around the house, from sofa cushions to old coat pockets. Deposit what you find into the family savings jar.
- DIY week: Instead of buying something, make it yourself. For example, create homemade cards for upcoming birthdays or bake snacks rather than purchasing them.
4. Assign age-appropriate roles
Give each family member a specific responsibility to make the challenge feel inclusive. Younger kids can help with the visual tracker, while older ones might research deals or brainstorm cost-saving ideas.
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Hide AdParents can guide the process, sharing tips and teaching moments along the way.
5. Reflect on progress
At the end of the month (or whenever your challenge wraps up), review your progress as a family. Discuss what worked, what didn’t, and how you can continue saving throughout the year.
Use this opportunity to highlight the importance of planning, patience, and teamwork.
What are your tips for saving as a family? Have you tried a similar challenge before? Share your ideas, experiences, or even your family’s savings goals in the comments section.
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