I Tried the 50-Peso Saving Challenge for a Month

A month ago, I saw a viral post about a woman who saved a lot of money using 50-peso bills (Philippine currency). It's soooo cool how she was able to save a lot of money using this challenge. I decided to give it a try!

So how does it work? Apparently, every time you will get a 50-peso bill, you will have to save it. That could be tricky especially since I don't earn a lot. But I was very interested to see how much I can save. 

I decided that I will try this "Ipon Challenge" (saving challenge) for a month and I started on February 20th of this year. 

My experience with the 50-peso saving challenge

Was it easy? Definitely not. But I did my best not to spend the 50-peso bills that came my way. 

Did I always get 50-peso bills? Sad to say, no. But then again, I have a strict budget when it comes to groceries, medicines, etc. And so, I will just encounter a 50-peso bill as a change when I buy something. And it's not that often -- I realized that now. I'm a freelancer; I work at home so I am almost always at home. But I go out for coffee with my family or when we go for groceries, or other errands. 

A helpful tip that I can tell you to be absolutely successful in this challenge is to have a specific mindset when it comes to 50-peso bills. For me, I imagined that they were 'invisible' and therefore, I should not be spending it. You cannot spend an invisible money, right? Right? RIGHT?

So, was I successful? I would say, YES. This was a SUCCESS! I guess, it was easier for me because I work at home and I do not always have to go out and be in a situation where I really have to spend a 50-peso bill. 

How much did I save? This is a very exciting question. 

I saved Php 1,850!!!!

How awesome is that???!

What did I learn from this challenge? I have to say, self discipline. Also, you really have to be determined when it comes to challenges like this one. 

Will I continue doing this? Possibly. I mean, it was fun. And I see it as a good start for bigger savings so I would probably continue this type of saving challenge. 

How about you? Have you tried this saving challenge? Please let me know how it went. Tweet me @charmandglamour or comment below. Thanks!

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