10 Ipon Challenge Ideas to Help You Save More (FREE Printables) 2024

Are you looking for ways to save more money? If so, you’ve come to the right place. Most people are looking for ways to cut back on their spending and put more money into savings. One popular way to do this is through an ipon challenge. Ipon challenge ideas can vary depending on what you’re seeking to save for future use. And the point is to save as much money as you can so that you’ll reach your goal. Are you excited to know different ipon challenge ideas in the Philipines to help you save more money? Keep reading!

What is an Ipon Challenge?

Ipon or savings simply means the money you don’t spend. Some people think that’s easy, but it’s not always as straightforward as it seems. After all, there are a lot of things you want in life, and it can be tempting to spend money as soon as you have it. However, if you can learn to control your spending and save money regularly, you’ll be in a much better position to reach your financial goals.

One of the well-liked trends in the Philippines to conserve money yearly is the ipon challenge. For as little as one peso, you can begin saving money, depending on your financial situation. It’s a self-improvement challenge to revamp lives in some way for a while. Here, you set your own goals trying to stick to them until the challenge is over. If you’re looking for a way to improve your life this 2024, an ipon challenge idea could be what you need.

10 Ipon Challenge Ideas to Help You Save More (FREE Printables) 2024

In no particular order, the following are the top 10 saving challenge ideas in the Philippines for 2024 that you can start with.

1. Invisible Ipon Challenge

For a few months, you must treat a particular amount of money as invisible as part of doing this kind of money challenge. For instance, if you have a 50 or 100 peso bill on hand, you must treat it as invisible and save it immediately whenever you receive one.

Advantages:

Making a habit of saving is made easier by setting aside specific sums of money.
Spending restrictions make you less prone to overspend because you have less money available to you.

Disadvantages:

When you’re down to your last bill, you tend to give up the challenge.
Unable to determine how much money you can save.

2. Envelope Savings Challenge

You’ll need some envelopes for this task as it is named. This challenge idea is considered a budgeting technique too.

Advantages:

This is enjoyable since you are still determining the exact amount you must set aside each payday or each month.
The amount can be changed in accordance with your income.
There’s an option of labeling each envelope with the exact amount you want. For instance, one envelope is labeled P100, the second is P200, the third is P300, and so on.

Disadvantages:

Saving the larger sums could be more difficult than with the other ipon challenges.

3. 52-Week Money Saving Challenge

A weekly ipon challenge in the Philippines where you’ll need to save money every week.

Advantages:

A challenge not too difficult to get started because you’ll start with a small quantity.
You can decide on a starting savings amount that is comfortable for you.
Ensures that you can commit to setting aside this sum each week.

Disadvantages:

The sum will progressively rise since the method is to boost savings incrementally, and as time goes on, it can be more difficult to commit to especially during holiday seasons.
Because it’s a weekly savings plan, it might not be appropriate for those who get paid bimonthly or monthly.
It can be frightening for those who despise arithmetic.

You may check out this ipon challenge success story. Now if you’re all pumped up in trying out this challenge, check out these printables below:

4. Peso Sense Ipon Challenge Ideas

Peso Sense Facebook page popularized this ipon challenge idea. It’s like a ‘save and shade’ challenge.

Advantages:

No time constraints. Simply place any spare money inside and darken the amount you saved each time.
Start paying off the minor bills. You can schedule a time to pay the greater expenses. You can set it to activate each payday or whenever you have a spare Php 500 or Php 1,000 note.
To increase your savings for a year, you can decide how many months you want to finish this and start over after you finish the first one.

Disadvantages:

The larger costs can be challenging for you to pay, which might prevent you from finishing the challenge.
You won’t be required to complete it because there is no deadline. Therefore, it’s a good idea to give this challenge a deadline for completion.

Check out our printables below:

5. Bi-Monthly Savings Challenge

Known as twice a month ipon challenge idea.

Advantages:

For individuals who receive their paychecks twice a month, on the 15th or the 30th, for instance, it is simpler to follow.
Savings options include flat rates and escalating rates.
Spend money less frequently, therefore it’s easier to implement than the 52-week money challenge.

Disadvantage:

Depending on your compensation, the increment may be higher.

Check out our printables below:

6. 12-Month Ipon Challenge

You have to set a base amount for this challenge that you can commit to saving each month (it can be zero if you don’t make much money). Then, add it to the percentage of your monthly salary, starting with 1% in January, 2% in February, and until you reach 12% by December. To simplify, its Monthly savings = Base amount + [Month % x Monthly income]

Let’s say you’re earning 10,000 per month in the Philippines and you set 10 as the base amount. So, for January your savings should be P110 (10 + [1% x 10,000]). In February it would be P210 (10 + [2% X 10,000]) and so on.

Advantages:

Set zero as the base amount if you don’t have enough earnings.
The potential for higher savings as the percentage increases from 1% to 12% each month.

Disadvantages:

Not catchy for those who are not into computation since it might be difficult to follow.
There’s a need to commit a higher amount as the month changes. For instance, only 1% in January and come in December, it would be already 12%.

Check out our printables below:

7. Daily Savings Idea

A 365-day money challenge where you’ll be saving on a daily basis. It’s simply setting aside a fixed amount every single day.

Advantages:

Save what you can afford daily which can be as small as 5 pesos.
There’s no need to perform complex computations or memorize numbers like other ipon challenge ideas. Just use the alarm feature on your phone to remind yourself to save some cash each day.

Disadvantage:

Not so advisable for those who are earning monthly or bi-monthly as budgeting for these individuals happens twice or once a month.

8. Coffee Break Ipon Challenge

Although this challenge was created especially for coffee drinkers or lovers in the Philippines, it doesn’t imply you should stop drinking coffee. Additionally, it can be applied to milk tea or other pricey beverages you frequently purchase.

Advantages:

Minimal drinking of coffee as it’s bad for health too much of it.
Help eliminate the use of plastic bottles as some coffee stores in the Philippines use such containers.
Instead of buying expensive coffee, you’re able to save up because of this challenge idea.

Disadvantage:

Doesn’t apply to individuals who aren’t coffee lovers.

9. No Dining Out Challenge Idea

Don’t you think this challenge is too boring? Does it mean not dining out at all? Well, that’s not the case. It simply suggests that you’ll consider a purchase that you’d want to avoid.

Advantages:

You can cook meals at home.
Also applies to no-spend too much on groceries especially when you still have stocks at home.

Disadvantages:

Difficult to come up with a challenge to complete since it doesn’t limit dining out.
Challenging to determine how much money you will set away for savings because there is no defined limit on how much you can save.

Check out our printables below:

10. Loose Change Savings Idea

Somewhat the same as the invisible ipon challenge ideas. Your day’s spare cash is what the loose change challenge is all about!

Advantages:

No pressure of saving as it depends on your leftover money at the end of the day.
Best for people who have still cash in their wallets or pockets every single day.

Disadvantages:

Some people only put cash enough for the day, thus, this challenge isn’t for them.
When it happens that you have a lot leftover of cash, it might be hard to let go of everything that’s left.

Small amounts do matter and can eventually form into a huge amount once accumulated, just like this Pinay’s success story.

Ipon Challenge Printables

Aside from the above-shared printables, below are your copy of the ipon challenge templates.

Although you can go to a bank anywhere in the Philippines and save more money, the ipon challenge requires you to save money on your own until you reach your target amount. Thus, the ability to keep up with the challenge is also necessary. Naturally, you shouldn’t take any money out of your savings either!

Aside from saving money, the ipon challenge is a great way to help you budget your money this 2024. Make your choice from the above-listed ipon challenge ideas in the Philippines and use some of our free printables to help you keep track of your progress. Get more saving ideas here and good luck!

10 Ipon Challenge Ideas to Help You Save More (FREE Printables) 2024