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Ipon Challenges to Try in 2021
By AJ Virtuz 07 Dec 2020 2399

In the past years, the concept of ipon challenge has become widely popular in the country, and it has been proven more effective to some Filipinos. The ipon challenge becomes Filipinos’ another way of saving money because it makes the normally frustrating task of setting money aside more fun, making us become more responsible and conscious with our expenses.

 

Photo from Great Performers Academy

 

To help you start your own ipon challenge, here are a few ideas that you can try for your ipon journey:

 

The Monthly Ipon Challenge

The Monthly Ipon Challenge can be converted into a daily challenge where you can start with P5, and add another P5 for every succeeding day. So if you start today with P5, you need to save P10 tomorrow, then P15 on the next day. While this challenge can be an affective way to get in the habit of saving daily, some people actually find it easier to just save up the 30 days amount probably to reduce the risk of spending it accidentally. That will require you to save up P2,480 for the month of January.

The Monthly Ipon challenge can be computed based on the number of days in a month. Start with P5 and additional of P5 for every succeeding day, and the entire amount after the total number of days for the certain month is the amount you save for that month. Then you will reset at the start of the next month. Repeat the process every month, and if you succeeded in following the rules, you can get a total of P28,835 at the end of December.

 

The 52-Week Ipon Challenge

The 52-Week Ipon Challenge is popular for Filipinos because it allows you to pursue a savings goal at your preferred amount. You can start with a small amount, to get yourself become comfortable to the habit of saving, but as you increase the money per week, you will be able to earn a decent amount by the end of the year.

The rule is actually almost the same as the Monthly Ipon Challenge, the only difference is that you need to set aside money every week, instead of every month, and your increment will be on a weekly basis for the rest of the year. On Week 1, set aside a starting amount you’re comfortable with, which will also serve as your weekly increment. If you choose P20. On Week 2, you have to increase the amount you set aside by your weekly increment. So from P20, you now set aside P40. On Week 3, increase P40 by the weekly P20-increment, and set aside P60. If you consistently repeat this process, by the time you reach you’re the last week of December, you’ll be able to save a total of P27,560.

The Fixed-Amount Challenge

The Fixed-Amount Challenge is a simpler challenge which only requires you to set aside a fixed amount, can be P50 or P100 every day, depending on the amount you’re more comfortable with. In this challenge, you are required to save the exact amount per day for an entire year. If you save P50, you can save a total of P18,250. If you save P100 per day for an entire year, you’ll save P36,500.

 

The Kinsenas Ipon Challenge

The Kinsenas Ipon Challenge is best for those who receive their salary twice a month. This ipon challenge also has the same idea from the Monthly Ipon Challenge—you can start with P100 for your first 15th income, then add another P100 for the next, which will become P200, and so on and so forth. It’s easier if you set aside your savings as soon as you receive your salary so you won’t be tempted to spend on other things. If you do this right, you can save a total amount of P30,000 on your last payday of 2021!

 

The Sukli Challenge

The Sukli Challenge will make you keep all your coins from the change you get when you buy stuff in the convenience store, or from the money you pay for transportation. This is the best ipon challenge for those who regularly receive coins or someone who does not have a lot of budget.

The Sukli Challenge is very simple, it will require you to keep every coin you get as change. From P1, to P5, or even centavos, you’ll have to save them all. Except the P10 coin, so you can still have coins in your purse to pay for your transportation and other needs. This means that you can’t use all the P1 and P5 coin you get to buy anything – they’ll all have to go to your savings.

 

As we grow older, we begin to realize how important it is to save up for ourselves. You can live life to its best—yes—but always remember that we need to think about our future as well. With these ipon challenge, you can recognize how important a small amount can be if we begin to set them aside until the end of the year.

Good luck with your 2021 ipon journey!

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