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Money Saving Game: The Penny Jar Challenge for Kids and Adults

Saving money is an important habit to cultivate, regardless of age. However, teaching kids and even adults about the value of saving can sometimes be challenging. That’s where the Penny Jar Challenge comes in. This fun and engaging game not only encourages saving but also helps develop financial responsibility. In this blog, we will explore the concept of the Penny Jar Challenge, its benefits, and how to implement it in your household.


The Penny Jar Challenge is a money-saving game that involves collecting and saving pennies (or any other denomination) over a designated period. The challenge is to see how many pennies can be accumulated within the given timeframe. It’s a simple yet effective way to instill the importance of saving, promote financial literacy, and create a habit of being mindful about money.

How to Play the Penny Jar Challenge

Playing the Penny Jar Challenge is easy. Here are the steps to get started:

  1. Set a Timeframe: Determine the duration of the challenge. It could be a week, a month, or any other timeframe that works for your family or household.
  2. Designate a Jar: Choose a jar or container specifically for the Penny Jar Challenge. It can be a traditional glass jar, a piggy bank, or any other container that is easily accessible.
  3. Collect Pennies: Encourage everyone to contribute pennies to the jar throughout the challenge period. Each time someone has a penny, they should place it in the jar.
  4. Track the Progress: Keep track of the number of pennies collected. You can use a chart, a whiteboard, or a simple money-saving journal to record the progress. This allows participants to visually see the results and stay motivated.
  5. Make it a Game: Turn it into a friendly competition by setting goals or milestones. For example, aim to reach a certain number of pennies by the halfway point or challenge each other to see who can contribute the most pennies.
  6. Celebrate the Achievement: At the end of the challenge, celebrate the achievement as a family or group. Count the total number of pennies and acknowledge the effort put into saving.

Benefits of the Penny Jar Challenge

The Penny Jar Challenge offers several benefits for both kids and adults:

  1. Financial Literacy: The challenge provides an opportunity to discuss the importance of saving, budgeting, and making wise financial decisions. It helps participants understand the value of money and develop essential money management skills.
  2. Goal Setting: Setting a goal for the challenge encourages participants to work towards a common objective. It teaches the value of perseverance, discipline, and delayed gratification.
  3. Family Bonding: The challenge can be a fun family activity that promotes teamwork, communication, and cooperation. It allows for open discussions about money, goals, and aspirations.
  4. Visual Progress Tracking: Recording the progress and visually seeing the pennies accumulate provides a sense of accomplishment and motivation. It reinforces the habit of saving and encourages participants to continue saving even beyond the challenge.
  5. Financial Empowerment: The Penny Jar Challenge empowers participants to take control of their finances and develop a positive relationship with money. It helps build confidence and a sense of responsibility.

Implementing the Penny Jar Challenge

Here are some tips to implement the Penny Jar Challenge effectively:

  1. Set Realistic Goals: Consider the age and financial capabilities of the participants when setting goals. Make sure the goals are achievable and aligned with the participant’s understanding of money.
  2. Encourage Consistency: Encourage participants to contribute regularly to the jar. Consistency is key to making the habit stick and seeing tangible results.
  3. Provide Incentives: Offer incentives or rewards for reaching certain milestones or achieving specific goals. This can further motivate participants to actively participate in the challenge.
  4. Expand the Challenge: Once the Penny Jar Challenge becomes a habit, consider expanding it to include other denominations or savings goals. This helps participants develop a well-rounded understanding of saving and money management.


The Penny Jar Challenge is an engaging and educational game that promotes the importance of saving, financial responsibility, and family bonding. By implementing this challenge, you can instill valuable money-saving habits in both kids and adults, setting them on a path towards a secure financial future. So start collecting those pennies, and watch the jar fill up as you embark on this fun money-saving adventure.


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