The concept of pag-iipon or saving money has long been a common practice for many Filipinos. They have always considered saving money an important habit to prepare for future expenses, whether it’s setting aside loose change in an alkansya (piggy bank) or following traditional budgeting methods. But even with a strong intention to save, staying consistent can be a challenge. Some people may start saving with enthusiasm but eventually find it difficult to follow through. At times, unexpected expenses and changing priorities can also lead to savings efforts being paused or abandoned and the money being spent elsewhere.
This is where fun ipon challenges come in. Unlike traditional savings methods, these challenges can add an interactive element to the process. By making saving feel like a game, it can help you stay motivated and committed to your saving goals. Such challenges can apply to saving and keeping physical money, and in addition to that you can open bank accounts in digital or traditional banks and keep your funds there.
If you’ve ever struggled to save consistently or reach your saving goal, these creative and exciting ipon challenges might be exactly what you need. Take a look and consider adopting the following::
1. Spare-Change Ipon Challenge
The spare-change ipon challenge is perfect for beginners or those who want an effortless way to save. The idea is that whenever you receive loose change, set it aside instead of spending it. At the end of the day, collect all your spare coins and small bills, and drop them into a piggy bank or dedicated container. Also, set a specific date for when you’ll count your savings. Some people choose to check their alkansya every three to six months, while others wait for an entire year to maximize their savings. If you have a big goal, waiting for a year can make the experience even more rewarding. The surprise of seeing how much you’ve saved makes the challenge exciting and gives you a sense of accomplishment.
An even better alternative is to save any spare change by depositing it into a high-interest digital bank account in the Philippines. Digital banks, like Maya, offer higher-interest savings accounts that let you earn much better interest compared to traditional banks, helping you grow your savings further once you start your ipon challenge. Additionally, you can get up to 15% interest p.a. boost when you use Maya to complete everyday transactions, like buying load, paying your bills, and paying for online purchases. For more information, make sure to check out the specifics here.
2. 52-Week Ipon Challenge
The 52-week ipon challenge is another saving challenge that you might love because of its structured yet flexible approach. The concept of this savings technique is to start with a small amount, like PHP 50, in the first week, then gradually increase your savings by the same amount each week. So, in Week 1, you save PHP 50; in Week 2, you save PHP 100; in Week 3, you save 150, and so on. If you begin saving PHP 50, you will have saved PHP 68,900 at the end of 52 weeks. Keep in mind that you can adjust the starting amount based on your financial capability.
To help you stay on track and make this challenge more exciting, use a savings tracker. You can print one out or use a digital app to monitor your progress. Doing so will help you see your savings grow week by week and keep you motivated. Additionally, consider depositing your savings in a digital bank to grow your money even further. It can be just as exciting and motivating. In the case of the Maya Time Deposit Plus, you can start as soon as you’ve saved PHP 5,000 and earn a guaranteed interest rate of up to 5.50% p.a. if you choose the 12-month tenor. You can then continue depositing to your account every week until you reach 52 weeks or 12 months. Just make sure you have an upgraded Maya account.
If you’re wondering how to open a bank account with Maya, simply go to the app and tap “Savings.” To access Time Deposit Plus, look for the option in the Savings dashboard, and you’re ready to start.
3. Envelope Challenge
If you prefer a more random and flexible saving method, the envelope challenge is perfect for you. To start, prepare multiple envelopes—this could be 30, 50, or even 100 in total—and label each one with a different amount of money, ranging from small amounts like PHP 20, 50, or 100 to larger amounts like PHP 500 or 1,000. Each week, randomly pick an envelope and set aside the amount written on it. Once you’ve completed all envelopes, you’ll have accumulated a substantial amount of savings.
One way to make this challenge more enjoyable is to turn it into a surprise game by shuffling the envelopes and randomly selecting one without looking. You can also assign a specific goal for each envelope, such as “Vacation Fund” or “Christmas Shopping Fund,” to remind yourself why you're saving. Alternatively, you can use your Maya app to save for different goals with Maya Personal Goals. Each Personal Goal allows you to earn 4% interest p.a. regardless of your goal amount, which means you will reach your goal amount faster with the help of the generous interest rate.
4. 50-Peso Savings Challenge
Another simple but effective ipon challenge you can try is the 50-peso savings challenge. The rule is straightforward: every time you receive a PHP 50 bill, you must set it aside and save it instead of spending it. Over time, these small amounts will add up without making you feel like you're making a huge sacrifice.
If you want to make this challenge exciting, store your PHP 50 bills in a transparent container where you can see them stacking up. Better yet, keep your funds in a Maya savings product so you can see your money grow even faster. Watching the collection grow can be surprisingly motivating. You can also set mini-milestones for yourself—every time you reach PHP 1,000 or PHP 5,000, celebrate your progress with a small, guilt-free reward that doesn’t require you to touch the savings.
5. No-Spend Challenge
The no-spend challenge is all about cutting unnecessary expenses and focusing on mindful spending. You can choose a specific period—such as a weekend, a full week, or even an entire month—where you commit to not spending money on non-essential purchases. This means avoiding unnecessary food deliveries, shopping sprees, or impulse buys. The money you would have spent can then be channeled into your savings instead.
To augment your no-spend periods and make the challenge enjoyable, create a list of free activities you can do instead of spending money. So instead of dining out, for example, you can try a new recipe and cook it at home. You can also skip the mall and the cinemas to avoid spending unnecessarily, and instead, have a movie marathon in your living room or a DIY spa day at home to pamper yourself.
When you’re saving money, it doesn’t have to feel like a chore; you can make the experience fun and rewarding. Whether you prefer a structured approach or flexible and effortless saving strategies, there’s an ipon challenge that will suit your lifestyle and financial goals. Just be consistent and find ways to keep yourself motivated. Go ahead and start an ipon challenge that excites you today—you’ll be amazed at how much you can save!
