Budgeting doesn’t have to be a chore. In fact, turning it into a fun challenge can make saving money feel like a game. Here are some popular budgeting challenges to consider:​

1. The 50/30/20 Rule

This method divides your income into three categories: 50% for needs, 30% for wants, and 20% for savings or debt repayment. It’s a straightforward way to balance spending and saving.​

2. The Envelope Challenge

Label 100 envelopes with numbers 1 to 100. Each day, pick an envelope at random and put in the corresponding amount of money. Over time, you’ll save $5,050. This visual and interactive method can make saving more engaging. 

3. No-Spend Challenge

Choose a period—like a week or a month—where you only spend money on essentials. This challenge can help reset your spending habits and highlight areas where you can cut back.

4. Cash-Only Challenge

Withdraw a set amount of cash for the week and use it for all your purchases. Once the cash is gone, no more spending. This method can increase awareness of your spending habits.

5. Savings Percentage Challenge

Start by saving a small percentage of your income, like 5%, and gradually increase it each month. This incremental approach can make saving feel more manageable.​

Remember, the best budgeting challenge is the one that fits your lifestyle and financial goals. Experiment with different methods to find what works for you, and don’t be afraid to adjust as needed.