Make it fun to save $$$ with the money game

Make it fun to save with the money game

Almost everyone I know wants to save more money. Make saving into a game to make the process a whole lot easier and more fun.

Here’s how to play the money game.

1. CALCULATE YOUR MONEY GAME NUMBER.

Choose a budget or estimate for your variable spending each week, on average. This can include dining out, drinks, Lyfts, groceries, shopping, etc - everything you do on a weekly basis that’s variable*.

For more accuracy, breakdown each expense and add them all up. This total becomes your ‘money game number.’

Let’s say we add up taxis, dining out, and entertainment and get $250, then our money game number is $250.

2. FIND YOUR MOTIVATION.

Any amount you spend under your money game number will be put towards a goal (or a couple of goals). It’s important to make a plan ahead of time so you know what your motivation for the money game is.

You might decide to put the extra money towards your rainy day fund, paying off a credit card, a vacation, or combination of a couple of goals.

3. TRACK YOUR SPENDING.

Now you’re ready to plan! Track your variable spending categories for the week (whatever you decided is part of your money game). You can start on any day of the week, but most people prefer to start on Monday and do their check-in on Sunday nights.   

4. TRANSFER YOUR WINNINGS!

At the end of the week, calculate your total spent and subtract it from your money game number. In our example, any amount we spend under $250 goes towards our goal. So, if we only spend $200 during the week, we have $50 to put toward our goal. Put that money towards your decided goal immediately before something comes up.

If you notice that you are spending more than your money game number week after week, you will want to revisit and use a more realistic number. It’s not fun or motivating to lose over and over again!

WHY IT WORKS.

Playing the money game works for a few of reasons. 1) We become very conscious of where our money is going. When we’re aware, we make more intentional decisions. 2) Games are fun! We can get competitive and it’s fun to win. 3) Since we’re putting the leftover money towards something specific, we’re really connected to our motivation. This is important for achieving our goals.

SOMETHING EXTRA.

You can also ask a money buddy (partner or friend) to join you in the money game. The extra accountability helps and makes it more fun. If it’s someone you spend a lot of time with or make decisions with, even better!.

*Variable expenses are expenses that can change depending on your use of products or services, and they can sometimes be unpredictable. Unlike fixed expenses (ie. rent), variable expenses may change significantly from week to week or month to month.