Cowrywise Savings Challenges are a great way to competitively save money! Recently we relaunched Cowrywise Circles which makes it even easier to take part in Savings Challenges. In this article, we’ll discuss:
1. How Savings Challenges work
2. Why should you join a Savings Challenge
3. 8 Savings Challenges on Cowrywise to Help You Save More in 2023
4. How to join a Savings Challenge
How Savings Challenges work
Have you ever tried to work towards a money goal and realized that somehow, you always end up spending that money? Yup, the chances are we’ve all experienced this at some point or the other. Which is where savings challenges come in.
Money challenges are a way to slowly but strategically meet your goal while competing for the top spot on the leaderboard! Savings challenges aim to help the members of the challenges save a certain amount of money over a stated duration. It also has an added element of competition too and you’ll know you’re not alone in saving.
Why should you join a Savings Challenge?
There are many options open to you when it comes to saving money. But why should you opt for a Savings Challenge?
1. It’s a fun way to save. You can have personal savings plans and also be a part of a Money Challenge which adds a bit of diversity to your savings. Yup, it’s pretty fun knowing you’re achieving big things with other members.
2. You’ll know that you aren’t alone and it definitely gives you a little motivation to save those funds!
3. Everyone wants to be a winner and why not win and achieve your money goals at the same time? It’s a win-win situation.
4. Challenges are savings plans that are already structured for you so you don’t need to worry about any details to set it up.
5. It’s automated so you never have to worry about missing another savings day!
8 Savings Challenges on Cowrywise to Help You Save More in 2023
We have some interesting Saving Challenges on Cowrywise that anyone can join.
Here are some to help you get started in 2023.
1. 52 weeks challenge
If you save N10,000 for 52 weeks (which is a year), you’ll have N520,000 by the end of 2023. Apart from the discipline you get to imbibe on this challenge, nothing beats rounding up the year with cash that you worked hard for. But remember that the ultimate goal is to save to invest, not save to spend as some are accustomed to doing at the end of each year. Ready to challenge yourself?
Join the 52 weeks Savings challenge.
2. 50k per Month Challenge
Do you have a 9 to 5 or a business you earn from every month? This challenge is ideal for you! It ensures you pay yourself by saving so that you don’t spend all your income on expenses. Join this challenge to automatically save at least 50,000 every month. You can save even more to top the leaderboard. Plus, N600,000 saved by the end of the year is not bad at all! ?
Join the 50K per month Challenge.
3. 52-week Halal Savings Challenge
You deserve to save easily while staying true to your faith. This savings challenge with no interests ensures you can do that in 2023. With automated deposits of N10,000 per week on the Halal savings challenge, you’re taking action to meet your financial goals while holding on to your deepest values.
Join the 52-week Halal Savings Challenge
4. Daily 2k Challenge
Do you own a business that enables you to make money daily? Join this challenge that lets you save at least N2,000 daily. Remember how little drops of water make a mighty ocean? Saving N2,000 daily will compound to almost 1M by the end of the year. You can always add extra cash to have more saved by December 2023.
5. 1 Million in 52 Weeks Challenge
Does this tune sound familiar? Sho gba 1 milli, one million Naira… Even though Davido was referring to 1Million Dollars in his popular 1Milli song, we believe 1Million Naira is a great place to start! This is for you if you want to save your first million.
Join the 1 Million in 52 Weeks Challenge
6. 20k per Month Challenge
Already saved up to 1Million in the past but want to keep up the good work? Then this challenge will help you stay consistent. Add to your zeroes by setting aside N20,000 weekly with others on this Savings Challenge.
Join the 20k per Month Challenge
7. Christmas Club Challenge
Don’t let Christmas meet you by surprise! Have activities you always do at the end of the year that you need to plan better for? Then this classic Savings Challenge is just right. Save at least 10,000 monthly and have N120,000 for your Christmas spending. You can top up with extra cash to have even more by then.
Join the Christmas Club Challenge
8. 360k 12-month Challenge
Join others to save up to N360,000 by the end of the year. With automated savings of N30,000 per month, you can save well over a quarter of a million in 2023. Add extra cash at any time to top the leaderboard of this challenge.
Want even more options? You can visit Cowrywise Savings Circle page to find simple Money Challenges that have no frills or fuss. Get started by choosing the ones that best suit your income and financial goals. The trick is to start small and slowly get into the groove of savings, and then going a step further to investing.
Do this and you’ll soon be the master of the game, surpassing your set goals and showing others the way.
How to join a Savings Challenge
Joining a Savings Challenge is pretty simple. Visit the Savings Challenge page or download the latest version of the Cowrywise app on the Play Store or App Store to get started.
I enjoyed every bit of this article. Will return for a second reading.
Whoosh!
Thank you, Edima.
Just bookmark it in your browser for easy access.?
Mobolaji no words just thank you for this beautiful piece!
The push I needed..thank you
?☺️
This was worth every minute. A real eye opener. Thank you Cowrywise!
Thanks for reading, Patience!
Thank you.
Sure doing my best to invest and save.
Wow…..I really appreciate your effort on this beautiful savings
☺️
I really enjoy reading your post. Please can you elaborate more on the design thing I do not understand it and if I want to invest for my wife or daughter, how do I go about it thank you.
Hi Oyebanji, it’s easy to invest for your wife and daughter. You can begin investment plans on their behalf with your account or use your referral code to get them to sign up. After they sign up, they can both start investment plans on the platform.
We’ll send you a comprehensive mail shortly.
Please read all about the Design Fund for women here: https://cowrywise.com/blog/investing-in-women/
Applications close on the 25th of March, 2021.
I loved every part of it. I loved how your vulnerability gave you the strength to be financially secured. Thank you so much! I took few notes I will work on.
Awesome! ??
Long but worth the read. I will spend my money better now. I will save and I have just been pushed to invest more than I ever have. Thanks for this piece.
Thanks for reading, Rhoda!
Please can you write every article on the INTERNET!!! This was so relatable yet so informative I felt like I was talking to a friend !!!! I love you already !!!
? Thank you so much, Obianuju.
Insightful!!! I enjoyed how you “gisted” the knowledge.
??
Nice article.
?
Just what i needed, thank you!
??
Beautiful write up.
The “do not eat tomorrows yam” hit the hail harder.
Thank you cowrywise for the many beautiful contents.
Thanks for reading as well, Victoria.
Thank you so much for sharing. I especially love how you delineated the plan to create the plan. Thank you really. This has been so helpful especially at this crossroads I find myself.
So glad it helped.
Wonderful I enjoyed the article
??
This is archive worthy. Something you screengrab and then go back to everytime you loose guard
Whoosh! ?
Thank you, Amal.
I tell you
This was lengthy but encompassing, thanks for writing
Thanks for reading, Faith…
Factory setting occurred in my brain. Thank you sir.
?
Wow!!! Love this Piece. Truely from a reset brain.
?
This is an amazing write up and yeah, an eye opener. And I love the fact that it’s so relatable with the small small vernaculars, lol, e long but e sweet.
“e sweet”!
Haha. Thanks Folajimi
This is proper financial advice. You have mapped out s lot of strategies that will benefit me financially if properly applied as a young professional. Thank you for the sound advice, Mobolaji.
Awesome content! Great push! Thank you very much ma’am ❤️❤️❤️
Nice piece. Really inspiring to me even as a man.
What a nice article .???. You did a great job ma
I want to give you loads of hugs. Your post today couldn’t have come at a more better time. This post reminded me of Andy Mineo’s quote on Vulnerability…It draws people in closer to say ‘me too’. This was certainly the energy booster I needed after running numbers today.
I really enjoyed reading this. I’ll share with the teen girls I mentor. Thank you so much.
Such an insightful piece! You’re a good writer Mobolaji!
Thanks for sharing.
Thank you Mobolaji. Thank you very much.
Thank you for providing the materials needed to build a good financial culture.
Insightful and relatable!
You rock!!!!!!!!!!
Deep stuff, useful to both men and women alike!
Thank you for sharing!
I feel like saving this write up somewhere to be reading every month…If I hear say na for women alone…Thank you so much for sharing.
Thank you very much for this,
It is very relatable,
Every woman ought to be financially stable to avoid stories that touch,
Thank you once more.
I’m really touched by this guidelines and I see myself becoming greater from this piece ❤️
I enjoyed this article. Every line and wors spoke to me. Thank you so much, i really find this inspiring
I really enjoyed this article , thanks so much
Thank you so much for this❤️
I look forward to implementing what I learnt and reading more of your articles
This Uplifting article is just what I need as a Student who’s trying to be money-wise. Thanks, I’ll be sharing this.
This is really so insightful. Thanks so much, Mobolaji. I’ve got a new perspective
Thank you so much For the piece. May God help me to invest.
Thank you for this piece, I have taken a different path now to wealth creation, but do you or cowryrise offer mentoring programs?