Christmas Bingo is the Savings Hack we All Need

Have you heard of the Bingo Savings Challenge before? It’s an easy way to squirrel away over $1,000 during the year, simply by putting away a certain amount every two weeks. Well good news – we’ve come up with our very own festive edition of the Bingo Savings Challenge – Christmas Bingo! And get this – you can stash away $500 by Christmas!

Before we get to Christmas Bingo, allow us to back up and bit and explain what Bingo Saving is all about. It’s a visual way to save a bit of cash and works quite well, especially if you are a visual person and like a bit of a challenge.

You set up a BINGO card (like the one below) with 26 different squares, all with a different sum of money in it.

bingo savings card — Source: Mum Central

Every two weeks (or every week if you’d like to do it for 6 months instead of 12), you choose an area to tick off, add that amount of money into your special Bingo envelope (or jar, or whatever) and add the date so you know you’ve completed that square.

At the end of the challenge, you’ll have 26 squares marked in, dated, and, ready for the best bit, $1,096 in your Bingo Savings!

Woot woot!

Now, the Bingo Savings Challenge isn’t new. It’s been around for ages and I’ve seen so many variations of it.

You can make a Bingo Savings card with 52 different squares and put away money every week. You can also choose larger sums of money, depending on your financial situation (and your ability to WALK AWAY from the Kmart homewares section without buying 8 candles).

So this got us thinking… what’s the one time of the year that we could all use a bit of cash? Christmas of course. Or January even because that’s when the credit card is due!

Christmas Bingo – Festive financial genius!

So, challenge yourself and create your very own Christmas Bingo Challenge in the lead-up to Christmas.

9 weeks. $500. Game on.

Having an extra $500 for gifts, food, drinks, etc – well, that is going to come in very handy in 9 weeks!

Christmas Bingo Saving Hack — My Christmas Bingo card. $10 down, $490 to go! Source: Mum Central

Yes. Christmas is literally 9 weeks away, so if you wanna join us in the Christmas Bingo Challenge, now’s the time to do it!!

Let the Christmas Bingo Savings Challenge begin

How to do it:

STEP ONE: Grab a piece of paper and a pen. Possibly a ruler too if you want each square to look nice and pretty.

STEP TWO: Add NINE squares to it

STEP THREE: Add a certain amount to each square. I’ve gone with these numbers because they are doable (again, as long as I don’t get lost in Kmart).

$10
$20
$25
$40
$50
$65
$75
$100
$115 (This is gonna be a tricky one, but it’s doable).

After nine weeks, if successful, I’ll have $500!

STEP FOUR: Every week, choose a square to shade in and add the date.

STEP FIVE: Place the allocated amount on the square into an envelope or jar. I’m going with a Christmas jar for mine – one hidden far away from the kids.

STEP SIX: At the end of the challenge, you should have all nine squares filled in and a jar full of funds! Remember – it’s BLACKOUT BINGO so you need to get all the squares.

So, who is in??? Of course, you can pick as much or as little as you want to put on the squares. Even if you go with $5, $10, $15, $20, $25, $30, $35, $40 and $45, you’ll end up with $225! That’s a pretty good effort.