9 Fun Ways to Do your Ipon Challenge 2023

Saving money is a common financial goal for many people, especially if they want to buy their dream house and lot in the Philippines. However, it can be difficult to get started, especially if you don't know where to begin. 

One way to start saving money is through an ipon challenge, also known as a money-saving challenge. These challenges are designed to help you gradually increase your savings over time, using different techniques and a fun way to help you save money even at a young age. 

Save Money with these Ipon Challenge 2023 Fun Ideas

What’s your goal for saving money? If you don’t have one, create one. Then, choose from these nine (9) fun ways to do your ipon challenge in 2023.

K-Pop Bias Ipon Challenge

K-Pop Bias Ipon Challenge is perfect for K-Pop fans who want to save money and support their favorite idols. Of course, it’s given that K-pop merch and its concert tickets are quite expensive. But if it’s really your dream to meet them in the flesh, you must start setting a savings goal and naming it after your favorite K-Pop bias. 

For example, if you’re an Army or Exo-L wanting to save a fan meet ticket, you can name your goal "BTS or EXO Concert Fund." Then, start saving, like setting aside a certain amount every time your bias post on their social media accounts.

Peso Sense Ipon Challenge

Peso Sense Ipon Challenge is a popular money-saving challenge in the Philippines. It involves saving a fixed amount of money each week, starting with a base amount of P50 on the first week, then gradually increasing by P50 every week.

This challenge is an excellent start if you don't have as much money to save first but want a simple ipon challenge that gradually increases over time.

Envelope Savings Challenge

Envelope Savings Challenge means putting a certain amount of money into an envelope each week, with the aim of saving a target amount by the end of the year. You can choose to save a fixed amount each week or a random amount, depending on your preference.

This challenge is a great way to start saving money if you prefer to use cash instead of a savings account.

Savings Account Challenge

Savings Account Challenge involves opening a savings account and setting a savings goal for the year. You can save a fixed amount each month or gradually increase your monthly savings over time.

This challenge is perfect if you want to earn interest on your savings and have a specific financial goal in mind, like buying an affordable house and lot for sale.

Holiday Savings Challenge

Holiday Savings Challenge is a time-bound challenge that involves saving a certain amount of money in a fixed period of time, usually in preparation for the holiday season. You can choose to keep a fixed amount each week or gradually increase your savings over time from your monthly income.

This money-saving idea is best recommended if you want to avoid overspending during the holidays and have enough money for gifts and other expenses.

Bingo Savings Challenge

Bingo Savings Challenge requires creating your own bingo cards with different savings goals, such as saving P100 for the week or saving P1,000 for the month. Each time you achieve a savings goal, you can cross it off your bingo card.

However this challenge requires financial discipline and consistency, but it's a fun way to save money and track your progress.

Invisible Money Challenge

Invisible Money Challenge or Loose Change Challenge involves saving all the loose change you receive throughout the day. You can use a piggy bank or a small jar to collect your spare change and deposit it into your savings account at the end of the week or month.

But this challenge is only effective if you want to save extra money without feeling like you're sacrificing anything.

Eating Out Challenge

Eating Out Challenge is about avoiding eating out for a certain period of time; it can be one week or one month. Instead, you can prepare your own meals at home and save the money you would have spent on eating out.

This challenge is also great if you want to save money and improve your cooking skills at the same time.

No Spend Day Challenge

No Spend Day Challenge is about avoiding unnecessary spending for a certain period. You can still buy essential items such as groceries and pay bills. But you should avoid buying things that you don't need. Thus, it's a fun way to tone down your bad spending habits.

Spare Change Challenge

Spare Change Challenge is similar to the Invisible Money Challenge, but it involves saving all the bigger bills you receive throughout the day, such as P100, P500, or P1,000 bills. You can deposit them into your savings account or save them in a piggy bank.

This challenge can be an excellent idea if you want to save more without sacrificing too much.

5 Tips for a Successful Money-saving Challenge

As mentioned, all these ipon challenges can only be effective and successful if you consider the following tips below.

Start small and gradually increase your savings.

One mistake many people make when starting an Ipon Challenge is setting a high target amount right from the beginning. This can be overwhelming and may cause you to lose motivation. So, start with a small amount and gradually increase your savings over time. This way, you'll build up momentum and develop a habit of saving.

Choose a challenge that fits your lifestyle.

It's also essential to choose one that fits your lifestyle and financial situation as other ipon challenges may not work for you. If you prefer using cash, the Envelope Savings Challenge may be the best option for you. But if you want to earn interest on your savings, the Savings Account Challenge may be a better fit.

Focus on your savings goal and track your progress.

Setting a specific savings goal and tracking your progress can help you stay motivated and focused. Use a spreadsheet, a budgeting app, or a savings tracker to monitor your savings each week or month. Celebrate small victories, such as reaching a milestone or achieving a savings goal.

Use bonuses and overtime pay to boost your savings.

If you receive bonuses or overtime pay from work, consider using them to boost your total savings. You can allocate a certain percentage or amount to your Ipon Challenge or deposit them into your savings account. As such, you can save more money without sacrificing too much.

Stay committed and be patient.

Saving money requires commitment and patience. Don't get discouraged if you miss a week or month or are not saving as much as you'd like. Remember that every small step counts, and building a habit take time.

So, stay committed to your savings goal, and eventually, you'll achieve financial freedom and reach your financial goals. It can also be helpful if you seek a personal finance adviser or coach to get some financial literacy insights.

One of the best investment inspirations to think of is owning a dream home. It doesn’t have to be luxurious or too cheap; choose an affordable house and lot unit from a reputable property developer like Lumina Homes. We have a variety of house models suitable for modern living and the lifestyle you need.

So, are you up for a challenge? Contact the nearest accredited Lumina seller or agent today for inquiries and more details about our housing packages.