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Make Saving Money Fun with O1ne Mortgage

Saving can often feel like a serious task, and rightly so—without saving for the future, achieving financial security can be challenging. However, if you’re finding it hard to meet your saving goals, it might be time to take a different approach: make saving more enjoyable.

It’s easy to lose interest and fall off the savings wagon, but adding elements of excitement to your finances can help you stay consistent. Here are five ways to make saving money more fun.

1. Try a Savings Challenge

Savings challenges can push you to spend less and save more while having fun. One popular method is the 52-week money challenge. In this challenge, you save $1 in week one, $2 in week two, and so on, continuing until week 52, where you’ll save $52. By the end of the 52-week period, you’ll have saved $1,378.

Another option is a no-spend challenge. Designate a period when you won’t make any discretionary purchases. Start with a weekend or a week. Some people even challenge themselves to go a whole month, but that requires upfront planning and a lot of willpower.

2. Set Exciting Goals

What motivates you to save? Write down your true goals—a home, a dream vacation, new furniture, or money for further education. Keep these goals front and center when you think of saving.

Some banks allow you to nickname your savings account in their app. Transferring money into your savings each payday may not be particularly fun, but stashing funds in your “Spring Break in Cancun” account can be a lot more exciting.

3. Compete With a Friend

Do you have a friend with similar savings goals? Partner up as accountability buddies. To make it more exciting, create a competition. For example, see who can reach a goal faster, such as saving $500.

If you have different savings goals, break them into the same number of milestones. Compete to see who can consistently stay on track to reach their milestones first.

4. Reward Yourself

Pick a way to reward yourself when you hit your milestones. For example, choose a small reward for every pay period that you transfer funds into your savings account. Or, pick a larger reward for every month that you meet your savings goals.

For best results, choose rewards that feel like splurging but don’t break the bank. A cocktail or mocktail kit, a new video game, a trip to the movies, or a set of super soft pajamas—pick simple pleasures that make you happy.

5. Track Your Savings

Creating a visual tracker for your savings can make saving more inspiring. There’s no limit to how fun you can make your trackers.

For some, filling out cells on a spreadsheet as you save money can be a good visual. If you prefer a physical tracker, download or create your own visual trackers that you color in as you go. Displaying your savings tracker somewhere you see it every day can make you feel good about your progress.

The Bottom Line

Saving is a cornerstone of a healthy financial life, but it doesn’t always come easy. Finding ways to make saving money motivating and fun can make staying on course more realistic.

In the end, finding a saving strategy that works for you comes down to staying flexible in your budgeting and finding ways to lower expenses when you can. Setting up automatic transfers into savings can make it easier to create a consistent saving habit.

For any mortgage-related needs, call O1ne Mortgage at 213-732-3074. We’re here to help you achieve your financial goals with confidence.

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