There are many money challenges out there, and I have to admit that I truly enjoy adding some spark to my finances and adding some money challenges into the mix. Finding the best 2019 monthly money challenges to try this year can be a bit intimidating, especially if you if you are a beginner.

For ideas, you will be able to find many money challenges out there. Some are simple, and some are, well, challenging. Monthly money challenges are challenges that will help you save money or make money.

This is what I love about money challenges, it's the fact that you can make it into whatever you want it to be as long as you reach your goals and get challenged in the process. Many people oppose doing money challenges, but my personal opinion is that if you are looking for some thrill, then go for it! We did!

We have done a few, and I think my personal favorite was the 52-week saving challenge and how much I learned from it in the process.

So what monthly money challenges should you look forward to this year? I found a few money challenges that will not only help you save money but will also help you reduce your debt; some might even help you make money!

6 2019 Monthly Money Challenges to Try This Year

Slash Your Monthly Bill Challenge

To save money, take the Slash Your Monthly Bill challenge to help you bring your bills monthly payments down. What I like about this challenge is that you are going to take the time to sit and go over all your monthly bills and find ways to bring them down.

Even with your monthly bills, you can save money; believe it or not. You can control these monthly expenses because chances are, you are overspending on them. You might be overspending money on housing, food, utilities, and insurance.

The good news is that you can find plenty of ways to cut these costs. How much you save depends on how which cost-cutting ways you choose to make. But the truth is that you can possibly save money with the Slash Your Monthly Bill challenge.

Here are some money saving posts to help you slash your monthly bills!

Pay Extra Money Challenge

A good way to get ahead in your finances is to take the Pay Extra Money Challenge. This challenge is about gathering all your bills and paying more than you would normally. For example: take your credit card bills, and instead of paying the minimum, pay more!

What makes this challenging is that many of us don’t budget and have a hard time paying more than the minimum credit card payment each month. The point is to find ways to get ahead and use a plan and a strategy to accomplish this challenge.

This is the time when taking more than one monthly money challenge will benefit! To help you succeed at this pay extra money challenge, here are some good resources.

Declutter and Sell Challenge

This is a fun one and a challenge we need to take on at least once a year, and that is the Declutter and Sell Challenge. The Declutter and Sell challenge consists of you taking an entire month to declutter your home and sell your unwanted items for extra cash.

This is hard work, but so rewarding. You get money for things you don’t need anymore! Below are some resources to help you achieve success with this challenge.

Build Your Emergency Fund Challenge

Emergency funds are a must for everyone! Sadly, not everyone saves money for a rainy day and simply spend. I was one of those people who didn’t have any money set aside and depended on other things, like credit cards to help me get out of financial situations.

Things happen in life. This is nothing personal, nothing to do with luck or karma, that is just life. An example: the stove will break down, the heater system acts up, and your car won’t start. These are examples of unexpected thing that happen and those cost tons of money.

This is when having money saved away comes into place. For situations like these, and more, having an emergency fund helps reduce stress and gives us peace of mind. If you don’t have any money saved toward your emergency fund, then the Build Your Emergency Fund challenge is for you!

The challenge for many of us is how to start and maintain an emergency fund. For this reason, I suggest this challenge because there will be one! Below are some resources to help you succeed in this challenge.

Ways to Make Extra Money Challenge

If you need to make some extra cash fast, take on this Ways To Make Extra Money challenge and see how much extra cash you can make in a month. I will tell you that this challenge might become your favorite once, you learn how much money you can earn.

Seriously, who doesn’t love money? I do! Sitting down and researching ways to find money is not hard. The internet is full of it and I have some ideas for you as well. What I’m going to tell you is that this challenge is about making extra money, not spending money to make money.

Below are some resources to make extra money that is legit and work for us!

Spending Freeze Challenge

This is a challenge that I personally love, and sometimes dislike, but it works. Before you go on about not spending money when you need to spend money because you have bills to get, calm down!

A spending freeze challenge is about freezing spending money on things that are not needs. You will have to pay your bills, but you will not spend money on things that you will normally spend money on. Like coffee, going out to eat, and such.

Though it might sound simple, a spending freeze will get hard once you realize how much money you spend on things you think you need but can live without.

A spending freeze challenge takes planning and lots of motivations, and you can find tons of support and information online. One of my favorite books is called, 31 Days of Living Well and Spending Zero: Freeze Your Spending. Change Your Life.

Surviving a spending freeze might be hard if you don’t put some effort into it. Believe me, I have done them and will share some tips to help you succeed this challenge.

Avoid shopping for fun.
Do not go out shopping when you are hungry.
Shop with a shopping list.
Create a menu plan.

Monthly money challenges are fun and exciting and really helpful when it comes to your personal finances. These monthly money challenges are ideas to help you take on the challenge.

What other monthly money challenges you tried and recommend? What are your thoughts about money challenges?

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Joyce @ My Stay At Home Adventures

Latina mom of 4 married to wonderful Greek gentleman. Living in southeast PA and trying to juggle family and a household while trying to earn an income from home. Follow my stay at home journey as I discover how to earn money and save money so we can continue to live debt free.

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