Saving money doesn’t have to mean following the same routine month after month. For people who struggle to stay motivated by traditional savings plans, turning the process into a game can make it feel more rewarding.
That’s the idea behind the bingo savings challenge — a customizable approach that uses a bingo card filled with savings amounts instead of numbers. Here’s how it works.
What is the bingo savings challenge, and how does it work?
The Bingo savings challenge is a gamified savings method that turns contributions to a savings account into a game of chance. Instead of saving a fixed amount on a set schedule, you make deposits based on the numbers you draw or mark off on a bingo card. The unpredictability makes saving feel more fun and can help people stay motivated.
Here’s how it works:
1. Create or print a 5×5 bingo card (25 squares, with the center marked as a free space).
2. Fill each square with a savings amount. You can use:
Sequential amounts (like $5 to $125 in $5 increments)
Random amounts ($3, $8, $17, $42, $75)
Amounts tailored to your budget
3. At regular intervals (such as weekly, monthly, or whenever you get paid), randomly choose a square — you can also use a bingo ball generator or random number app.
4. Deposit the amount shown in that square into your savings account and mark it off.
5. Continue until you’ve completed a row, column, diagonal, or even a full blackout.
Pros and cons of the savings bingo challenge
There are a few benefits and drawbacks of the savings bingo challenge that you should consider before participating.
Pros
Makes saving more engaging: Turning saving into a game is an easy way to make it feel less like a chore. With the savings bingo challenge, there is an element of surprise that can keep you engaged.
It’s fully customizable: There are no hard and fast rules for this challenge around how much you should save, how often you should make savings contributions, or how your bingo card is formatted.
Works for any budget: You can create a low-cost or aggressive version, depending on how much you can afford to set aside.
Cons
Deposits can be unpredictable: Savers who prefer predictability may find that savings bingo is too random since you don’t actually know how much you’ll be saving each time.
Doesn’t allow for automation: Setting up automatic transfers to your savings account is an effective way to stay on track. However, due to the unpredictability of deposits with the bingo challenge, automation isn’t really an option. You must stay committed to making consistent deposits.
May not align with fixed financial goals: If you’re saving for a specific deadline, a structured plan may be easier to follow.
How to maximize your savings with the bingo challenge
The bingo savings challenge is a great way to make saving money more fun and engaging, helping you kickstart a lifelong savings habit. But to get the most out of this challenge, consider the following tips:
Use amounts that fit your budget. You don’t have to copy someone else’s card or follow rigid rules. It’s up to you to choose savings amounts that work with your budget. The goal is to make saving money fun, not put a strain on your monthly cash flow.
Earn interest on your savings. You can make your money work harder for you by keeping the funds in a high-yield savings account (HYSA). These accounts pay much more than traditional savings accounts — up to 4% APY in some cases — helping your balance grow faster. Earning a competitive interest rate on your savings also ensures that it doesn’t lose value over time due to inflation. Plus, transferring your savings to a separate account makes it less tempting to spend.
Consider creating a themed card. If you’re saving for a specific goal, such as a vacation, holiday gifts, or an emergency fund, decorate your card according to the theme to help visualize your goal.
Alternative savings challenges to try
The bingo savings challenge is just one of many savings strategies. If you like the idea of turning saving into a game, but the bingo challenge doesn’t seem like the right fit, consider one of these other popular challenges:
No-spend challenge: Commit to avoiding nonessential purchases for a set period and save the money you would have otherwise spent.
100-envelope savings challenge: Label 100 envelopes with the numbers 1 through 100. Each day, place the corresponding dollar amount into an envelope. By the end of the challenge, you’ll have built a substantial cash savings.
$5 bill challenge: Set aside every $5 bill you receive instead of spending it. Over time, these small contributions can add up.
52-week savings challenge: This snowball-style savings plan starts with a $1 deposit in the first week, followed by $2 in the second week, $3 in the third week, and so on. By saving $52 in the final week, you’ll accumulate a total of $1,378 over the course of the year.
$27.39 rule: Transfer $27.39 into your savings account every day for one year. After 365 days, you’ll have saved approximately $10,000.
Penny-a-day challenge: Increase your daily deposit by one cent each day, ending the year with $667.95.
Weather savings challenge: Base your savings deposits on daily weather conditions. For example, if the day’s high temperature is 60 degrees, you’d put $60 into your savings account.
Two-week pantry challenge: Avoid buying groceries for two weeks (except for a few essential perishables, if needed) and instead prepare meals using the food you already have in your pantry, refrigerator, and freezer.
