Close
Skip to Content
Close Icon

Beachwood Office (888) 801-1666 Open Geo Locator

Your Preferred Branch

Beachwood Change Location

25201 Chagrin Boulevard
Suite 120
Beachwood, OH 44122

Phone: (216) 359-5580
Fax: (216) 359-5581

View Driving Directions

Change Preferred Branch

  • Beachwood Office
    25201 Chagrin Boulevard, Suite 120 - Beachwood

  • Chardon Office
    348 Center Street P.O Box 1078 - Chardon

  • Cortland Office
    3450 Niles-Cortland Road - Cortland

  • Dublin Office
    6215 Perimeter Drive - Dublin

  • Garrettsville Office
    8058 State Street - Garrettsville

  • Lake County Loan Production Office
    8373 Mentor Avenue - Mentor

  • Mantua Office
    10691 Main Street - Mantua

  • Middlefield - Main Branch Office
    15985 East High Street, P.O. Box 35 - Middlefield

  • Middlefield - West Branch Office
    15545 West High Street. P.O. Box 35 - Middlefield

  • Newbury Office
    11110 Kinsman Road, P.O. Box 208 - Newbury

  • Orwell Office
    30 South Maple Street, P.O. Box 66 - Orwell

  • Plain City Office
    490 South Jefferson Avenue - Plain City

  • Powell Office
    10628 Sawmill Parkway - Powell

  • Solon Office
    6134 Kruse Drive - Solon

  • Sunbury Office
    492 West Cherry Street - Sunbury

  • Twinsburg Office
    2351 Edison Boulevard, P.O. Box 560 - Twinsburg

  • Westerville Office
    17 North State Street - Westerville

Contact Us
Online Banking Login

Blog

Home Blog 5 Challenges to Test Your Money Management

5 Challenges to Test Your Money Management

Posted On: March 8, 2021 by The Middlefield Banking Company in: Budget Savings

5 Challenges to Test Your Money Management

We may all think we know a thing or two about finances, but do we really know it all? There’s always more you can learn to better yourself and that includes money management skills. Today, we’ll give you five challenges to test your money management in order to whip your finances into shape! 

1. No Spend Challenge 

We know this sounds scary, but you can still buy groceries and pay your recurring bills. Try not spending money on any unnecessary items for one week or one month. Yes, we know that coffee may feel necessary, but make your coffee at home instead of buying it. You’ll be surprised at how much you save when you don’t buy an extra item here and there. 

2. Change Challenge 

Any change you accumulate, save. This could be a fun game to play with your kids as well. You and your significant other can give any change from the day and have your children count it and put it in a jar. Do this for one month or a full year to see how much you accumulate!  

3. No Online Shopping Challenge 

We know that more shopping is being done online now than ever before, which makes it seem easier and easier to spend more money since you aren’t giving physical cash away. Try not buying anything online for a whole month – besides your groceries and essentials if you now purchase those online. 

4. 52-Week Money Challenge 

This is a fun one! This occurs weekly for a whole year, so it will really hold you accountable. Start with saving $1 for week 1, $2 for week 2, and so on. By week 52, you’ll be putting away $52. The 52-week challenge adds up to saving a total of $1,378! You can choose what you’ll spend that money on if you make it all the way. Will it be for a vacation, child’s college fund or emergency fund? It’ll be up to you. 

5. No Eating Out Challenge 

Since people are staying home more, this is a little easier than before. But this also includes take out and drive-throughs as well – not just sit-down restaurants. We know supporting small businesses is important, so we’re not saying don’t eat out forever. Just try it for one month to see how much potential savings you earn. 

Pick one or a couple of these challenges to test your money management skills. You won’t regret it! Then, store your new savings in a savings account with us. We’ll be happy to keep your hard-earned money safe and sound in an account. 

0 comments