Social media may be full of cute animal videos, fun dance trends, and sponsored ads, but there's also some interesting money-saving advice, too! Because we want to save you time, too, we've compiled this list of our favorites.
Social Media Hacks for Saving Money
1. The 100 envelope challenge
If you're a fan of social media challenges, you'll LOVE this saving challenge from TikTok. User @gee_nuh_gee shares the challenge: Get 100 envelopes and number them 1-100. Each envelope represents one day of the challenge. The number on the envelope is how much money you'll put in the envelope.
Over the course of a hundred days, you'll save a total of $5,050! If you're looking to kick-start a savings habit, this one delivers some serious bang for your buck. If that amount seems too high, or you want to ease into it, no problem! Create a challenge number that works for you. Doing a 30-day challenge (with envelopes labeled 1-30) saves you $465. Or stretch it out and pull an envelope every other day, or once a week.
2. The $5 bill challenge
If you're big on using cash, this one's for you. The idea, as TikTok user @diosajas explains, is to save every $5 bill you come into contact with. The real trick is not to spend it. This type of experiment helps you build a habit that you can continue for as long as you wish. Take the challenge a step further and save your coins, too. After a while, you may be surprised just how much you can save! The original user racked up $1,600.
3. "Low-impact" savings
In their viral TikTok, the "Budget Bros" (@budgetbrojoe) share how to save money without actually feeling like you're saving money. The secret? At the end of each day, take the last digit (not including change) in your checking account and move it into savings. So if you end the day with $1,014 in your checking account, you'll transfer four dollars over. Continue on this trajectory and you can save some serious dollars!
In the original TikTok, the Budget Bros share an example in which someone is able to save $24 in one week. This adds up to well over a thousand dollars in the course of a year. This is a great alternative to the $5 bill challenge if you're more inclined to swipe a debit card than you are to pay with cash.
The best part, like all of these trends, is that it's customizable. You could choose to include the leftover change in your savings transfer or add $10 on top of your daily amount. Or, double up your savings if you hit your "lucky number." You make the rules!
Make Saving Fun with Social Media
What do these trends have in common? They're all fun to try, and make kick-starting your savings feel more like a game than a chore.
Take your savings a step further and sign up for our Save mailer, which delivers coupons and deals on all your everyday favorites right to your door.