How I Found $2,488 in Just 7 Days – Join the Hidden Cash Challenge Today
Are you ready for a new challenge? To seek treasure that might be sitting in plain sight? Let’s do it!
The Hidden Cash Challenge is about finding cash you may have forgotten about – in accounts, drawers, and more.
I love the longer challenges on the site for building long-term savings habits. But a shorter challenge like this can push you to get creative – leading to faster results.
How does the Hidden Cash Challenge Work?
1. First, set a deadline. A shorter time frame, like 3 days could get you moving quickly. Or a longer deadline, like 2 weeks offers more flexibility if you’re busy.
2. Second, pick a money goal. I chose $200 as my goal, but you could do any amount.
Then, decide what you’ll use this extra money for! Maybe it’s for vacation. Or maybe it’s to boost your rainy day fund.
3. Next, jot down ways to find the money quickly. (Keep reading for ideas.) The key to this challenge is to look in places you may have forgotten over time.
4. Get to work! Time is of the essence. If you can’t start the challenge immediately, then schedule it on your calendar for as soon as possible.
5. Track your progress by recording the money you find in a notebook or your budget planner.
I Took the Challenge
Next, I took the challenge too. Here’s what worked for my 7 days. Use what I learned to make your challenge even better.
What worked:
- I reviewed old gift cards. I’m embarrassed to admit I had a huge stack of gift cards from birthdays and Christmas I haven’t used. (The Amazon cards were just a few!) For the challenge, I finally put these into our Amazon account: $190
Pro Tip: Even if you’ve used a gift card, there may still be money left on it. Don’t throw it away until you know it’s gone!
- I Used Up Credit Card Rewards: Well, jeez. I knew it had been years since I used my reward points. But I didn’t realize it was this much! I put a $2,198.03 credit towards the next credit card bill. And frankly, it felt awesome!
- Return Unused Purchases: I kind of hate shopping. But really, it’s not the shopping. It’s taking things back. And sometimes, I wait so long that I end up donating or selling the item for less instead. So, for this challenge, I forced myself to take the stack of things back that had been sitting for a month. ~$100 (The amount I would have forgotten about)
- I organized the cash. While I won’t count it as found money, this challenge also got me to consolidate cash in the house and organize gift cards to put in my wallet to use in the coming weeks. It’s still a win for sure!
Did I hit my goal? Um. Yes. I thought there would be no hidden money. But it turns out there was a lot!
I found $2488.03 in my 7 days. And really, I only worked hard on this challenge for 2-3.
More Fantastic Ideas to Make It Happen
Now, maybe you already use your credit card rewards and gift cards. No biggie! Here’s a great list of examples to find your own hidden cash stash!
- If you’ve ever opened a savings, CD, or brokerage account and forgot about it, track it down.
- Gather up loose change in your home, car, or pockets. You’d be surprised how quickly it adds up. Coin-counting machines or your local bank can help you convert coins into cash.
- Ask your employer for a raise if you’ve been performing above and beyond.
- Raise your client rates.
- Check apps like Rakuten or Honey for unclaimed cash-back earnings.
- Go through your home and find items you no longer use—old electronics, clothes, or furniture—and sell them on platforms like eBay, Facebook Marketplace, or Poshmark.
- If you own a home, check if you’re eligible for tax rebates, mortgage rate reductions, or if you can remove your private mortgage insurance.
When we bought our first home, we paid $100 a month for PMI because we didn’t put 20% down in cash. As soon as we had 20% in equity, I called the lender and got it off. That saved $1200 a year!
- Do an expense audit and free yourself of the subscriptions draining your monthly budget
- If you have a lot of kids stuff you no longer need, take them to a consignment store
- Sell your old gift cards or make a trade with someone if you know you won’t use them
- Many states have unclaimed property divisions where they hold onto forgotten deposits, refunds, or uncashed checks. Websites like MissingMoney.com can help you search for unclaimed money.
- Review your life, auto, and health insurance policies to see if you’re overpaying for coverage. You may find savings or refunds from overpaid premiums.
- Rent out a spare room, storage space, or car.
- Check if you missed any tax credits or deductions on prior years’ returns. You can often amend tax returns and get refunds for up to three years. Or use the information to make changes to your upcoming tax situation.
Pro Tip: Professionals can often help you find hidden money too! Accountants, financial advisors, and lawyers are experts at looking in places you don’t often think of.
Also, check out:
Tips For Your 5 in 5 Challenge
1. Gather accountability. Tell a few friends or family. Or try the commitment card to help you follow through. Gathering support can make all the difference when it comes to doing a challenge like this.
2. Set a fun reward for when you hit your target goal.
Now, join me. Take the challenge with me! Then, let me know how it went for you in the comments. I’d love to hear!
What’s Next?
Love challenges? Don’t miss these 15 Short Money Challenges that supercharge your savings in unique ways.
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