Saving $10,000 might sound totally overwhelming—maybe even impossible. Honestly, a few years ago, if someone had told me to try one of those Save $10000 Challenges, I probably would’ve laughed and said, “Yeah, right.” I was living paycheck to paycheck and just trying to stay afloat. The idea of saving that kind of money felt so far out of reach.
But here’s the thing: it is possible. It’s not going to happen overnight or in a few short months, but with a little consistency, discipline, and a clear plan, you can absolutely get there.
One thing that helped me stay on track? Making saving feel less like a chore and more like a fun challenge. That’s why I love money-saving challenges—they turn a big goal into something exciting and manageable.
I’ve shared a few of my favorites before, like the 52-Week Saving Challenge, the $5000 Savings Challenge, and even the No-Spend Challenge.
But if you’re ready to take things up a notch and save even more, then you’ve got to check out these $10K saving challenges below!
Why Save $10000?
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I just can’t stress enough how important it is to attach a “why” to your financial decisions. Why are you saving $10,000 in the first place? Being clear and committed to your goals will keep you accountable throughout this journey.
So why save $10,000? Let me recommend some top reasons:
- Emergency fund. Having this much amount in your emergency fund gives you undeniable peace and comfort, knowing that you’re financially equipped to handle whatever life throws at you. Read: Importance of Having an Emergency Fund
- Investments. Whether you’re looking to beef up your retirement accounts, put more money across your investment portfolio, or start a business, having $10,000 in savings could go a long way.
- Reduce or eliminate debt. One of the wisest ways to use such a substantial amount is to reduce or eliminate financial stress – debt. Loans, credit card bills, and student debt can quickly drain your finances. You could raise your credit score and free up more money for financial goals by crushing high-interest debts first.
- Huge purchases. Do you plan on remodeling your home, upgrading your appliances or furniture, going on a vacation, or planning a wedding? These huge life decisions usually require huge money, and it’s so nice to be able to afford these things without going into debt.
$10000 Money-Saving Challenges
Ready to start saving right now? Check out these five fun and realistic money-saving challenges to reach your $10000 target.
1. 100 Envelope Challenge
If you think saving money, $10000 at that, is daunting and tedious, try the 100-envelope challenge. This challenge is designed to make saving more fun by adding an element of surprise to it.
How it works:
Gather 100 envelopes and label each one of them 1 to 100. Pick an envelope and stash the corresponding amount on its label each day. For example, if you choose envelope number 10, save $10. When you’ve filled all the envelopes, you save $5,050.
To reach $10,000 at the end of the challenge, you can either double the amount on the envelope or do a round two of the challenge.
Either way, sticking with this challenge is a fun and effective way to build a $10K savings habit.
No physical envelopes? No problem! Use the my 100 Envelopes Printable Tracker below instead. Transfer the amounts to your savings account and color each envelope on the tracker as you go!
Tips for success:
- Deposit your savings. At the end of each week, deposit the accumulated amount into a dedicated savings account.
- Get an accountability buddy. Find a free or family member who’d like to do this challenge with you. You’ll check in and keep each other motivated.
- Cut back on other expenses to save more money.
2. One-year $10,000 Savings Challenge
Want to take it easy and save $10,000 in one year? Just figure out how much you need to save each week or month, and find a rhythm that suits your target. To help you reach this savings goal, you’d have to:
Save $834 each month
Save $195 per week
Save $28 per day
How it works:
First, figure out how you want to save: per day, per week, or per month, depending on your income source or paycheck schedule. For example, if you get paid weekly, it’s easier to include the $195 savings into your budget and set aside this amount first as soon as you receive your pay. Just do the same if you want to save monthly.
Here’s a printable to help you save $10,000 in 52 weeks by setting aside $195 per week from Week 1 through Week 51, and $55 on Week 52. Prefer to save a different amount each week? The second page of the printable lets you customize your savings with your own weekly goals.
Tips for success:
- Automate your savings. Set up automatic transfers into your savings account to ensure you never miss a date!
- Take advantage of cash-back apps. Every little thing adds, so try to get some of your money back from purchases. One of my best recommendations is Ibotta. Read my review here.
- Cut unnecessary subscriptions. Take inventory of all your subscriptions and memberships and cancel those you don’t use. Take that money and add it to your savings.
3. The 26-Paycheck Savings Challenge
Some people love structure, so if you’re one of them, you’ll love the 26-Paycheck Savings Challenge. This challenge will help you save $10,000 throughout the year.
How it works:
This money-saving challenge is easy to follow. All you have to do is save $385 every two weeks, and you’ll have $10,000 at the end of the challenge. This is perfect for people who love predictability and hate unnecessary complex computations.
Tips for Success:
- Transfer it to your savings account right away. The best way to avoid spending the money you’re supposed to save is to transfer it immediately to a dedicated savings account. Even better, set automatic transfers every time you get paid.
- Cut back where you can. Go over your budget and see where it’s possible to trim down your expenses.
- Track your progress. Use a budget printable to track your savings. This helps you feel more motivated and accountable to your savings, too!
4. Save $10,000 in 100 Days
Do you need to save $10K in three months? Then check out this 100-day savings challenge. It’s a structured savings plan that helps you reach your target savings quickly.
How it works:
Decide whether you want to save daily, weekly, or monthly. Here’s how much you need to save to reach your $10K savings target in 100 days:
Save $100 every day
Save $700 each week
Save $2,800 each month
Tips for success:
- Since this challenge requires you to save more aggressively, identify expenses you can reduce to meet the savings goals. Start by trimming down your variable costs, such as groceries and entertainment.
- Pair it with the No-Spend Challenge. Stop incurring unnecessary expenses by pairing it with the No-Spend Challenge. During this time, they only spend on basic expenses like food, housing, transportation, and utilities and stop spending on wants like vacations, new clothes, or appliance upgrades.
- Work more hours or shifts. Put all this extra income towards savings.
5. The Side Hustle Challenge
Side hustling is a fantastic way to produce extra income streams, allowing you to save money quickly. You can find a side hustle that allows you to work around your day job and responsibilities at home. So whether you have a full-time job or a stay-at-home parent, it’s good to know that there are boundless side-hustling opportunities!
How it works:
Find a few side hustles you love and enjoy, and start scouting for online or in-person opportunities. There are so many flexible side hustles that you can get into, from delivering food and groceries, running errands for others, cleaning houses, sitting pets, and so much more. Online side hustles are lucrative, too, and many of them you can do on a part-time or flexible schedule. You can make money in bookkeeping, freelance writing, graphic designing, selling digital products, etc.
Tips for success:
- Choose your hustle. Find a gig you’re most passionate about and truly enjoy. Bonus if it is flexible and fits your lifestyle. Some of the best platforms to find side hustles are Task Rabbit, Upwork, and Flexjobs.
- Put all the side hustle money towards savings. Create a separate savings account and stash all your side hustle money there.
- Learn new high-paying skills. Utilize your free time to learn high-paying skills to generate more income quickly. There are free and cheap courses and online resources to get you started on this journey.
Key Takeaways
I could never imagine saving $10,000 a couple of years ago. But that was the “old me.” I know that saving money is possible, but only with discipline, consistency, and patience. With these, saving becomes second nature.
Whether you’ve had no luck in savings before, you’ve given up midway, or don’t trust yourself to reach your target, following one or more of these money-saving challenges should help. These challenges will help you feel more motivated, inspired, and accountable. Before you know it, your savings account has grown by $10,000 more!
Which 10K saving challenges have you tried or are eager to try? Whatever you choose, just know that I’m rooting for you!
