8 Saving Challenges to Help You Save More in 2023

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

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.