You may have heard about savings challenges like the 365 day money challenge, the 52 week money challenge (and its alternatives) and maybe even the 12 week money challenge. They’ve taken the internet by storm and there seems to be a new money challenge coming out every year.
These challenges can make saving money fun. One of the newest challenges, the two liter dime challenge, does just that.
What is the Two Liter Dime Challenge?
The two liter dime challenge is pretty self explanatory. It is another way to make saving money fun. All you need is an empty two liter bottle and the will to start saving every dime you get back in change.
How to Do The Two Liter Dime Challenge
As previously stated all you need is an empty two liter bottle and dime to perform the two liter dime challenge. What you do is set the two liter bottle up in a place that is easy to access in your home (most people put it in the kitchen). You can decorate the bottle to make it a bit more appealing or leave it clear.
Once you have the bottle set up the way you want it start filling it with dimes. You can put dimes from anywhere in the bottle (change from the store, change found at home, etc). Continue to put the dimes in the two liter until it is slap full.
How Much Can You Save?
Once you’ve completed the two liter dime challenge by filling up the bottle with dimes you can cash them in. There are a couple of ways to do this.
You can roll the dimes and bring them to the bank (this will give you the most savings) or you can bring them to a CoinStar and get cash. CoinStar, however, will take about 10 percent of the amount of money you put into the machine.
If you complete the two liter dime challenge you can save anywhere between $550 and $700.
How to Track the Two Liter Dime Challenge
You can save a ton of money with the two liter dime challenge but it is a challenge that seems like it may take a bit of time. You can be proactive about the savings challenge though. When you are at the checkout counter, for instance, you can ask the cashier for dimes. You can also search the couch and your car for dimes as well, but how do you track the challenge?
Many people who have performed the two liter dime challenge set goals on the outside of the bottle. For example, you can draw lines on the bottle and write dates above the line. This will mark the place you want to reach with dimes by that date.
Saving money is important. Whether you do it through a savings plan like the two liter dime challenge or budget out a savings plan for yourself, securing your financial future through savings can change your life.
Photo: Nicholas LabyrinthX