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In this article you will learn about what Ipon Challenges are. You’ll learn how to spend money properly and budget, but if you’re short on money, we’re waiting for you at Digido. Take out a loan of up to 25,000 pesos for up to 30 days. Digido approves more than 90% of applications!

The Best Ipon Challenges in 2022

Last updated: November 15, 2022

Written by: Sean Martin D. Plantado | Reviewed by: Sean Martin D. Plantado

Key takeaways:

  • Taking Ipon Challenges becomes part of Filipino life and enables them to achieve financial discipline in a time-bound way.
  • To start an Ipon Challenge, all you need is a goal, and an Ipon Challenge calendar to track the progress.
  • Once the period is over, you will have the money to fulfill your goals.
  • If you do not have enough money, you can get a loan from Digido.

The Philippine term “Ipon” means “Saving for the future.”

But how?

It is a perplexing question for most Filipinos who live a paycheck-to-paycheck life with zero formal banking experience.

Traditionally, Filipinos prefer private financial institutions or lenders for all their economic activities, from bill payment to foreign remittance.
The easy availability of loans, albeit at high interest, tempts people to take loans for every financial requirement without any contemplation. Apart from high costs, this attitude stops them from developing financial discipline, building a good credit score, and nurturing a habit of savings.

This over-dependence on expensive loans and poor personal finance management push many Filipinos into debt traps. All over the world, banks play a crucial role in improving financial literacy among populations and improving their financial health. But the Philippines is a country with abysmally low banking penetration levels. So the conventional pattern of savings through a bank account will not work here.

The saving system should be simple, goal-oriented, time-bound, and workable for the population. In that sense, Ipon Challenges 2020 and then Ipon Challenges 2021 keep on scoring brownie points and has become the most popular saving option for the Filipinos. On the Internet you can find Ipon Challenge free printable templates.

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What is the IPON Challenge?

Everyone has different financial goals at various life stages, such as college tuition fees, owning a car, or spending a foreign country vacation. The majority of the Filipinos live on a shoestring budget with a small amount left for saving. The vast gap between their money requirement and available savings creates a feeling that it is impossible to achieve the goals with this much saving. So they tend to overlook the saving aspects and continue with aimless spending.

The Ipon Challenges are different from conventional saving schemes due to their simplicity and efficiency. To start an Ipon Challenge, all you need is a goal, container or piggy bank and an Ipon Challenge calendar to track the progress.
In Ipon Challenges, the user breaks down the goal amount to achievable savings at regular intervals. For each contribution, the owner will make a corresponding mark on the template. The customer can tabulate the entries anytime and can have a clear idea of his or her current savings.

Once the period is over, you will have the money to fulfill your goals.

The completion of the first challenge is a life-changing experience for the participants. They become achievers on a beautiful morning. It makes them confident to dream big and in taking up new challenges with higher financial goals.
Slowly, taking new Ipon Challenges becomes part of their life and enables them to achieve financial discipline in a time-bound way.

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The 52-Week Ipon Challenge

The 52-Week Ipon Challenge is a systemic saving scheme with a one-year time frame.

It’s quite simple. You earmark a particular amount as saving for each week. As time progresses, you increase the savings as multiples of the weeks since the start of the challenge.
For instance, if you set PHP 50 as your saving amount, you will put PHP 50 as your savings for the first week. Your saving will be PHP 100 (first-week saving + basic saving) in the second week. For the third week, you need to save Php 150, i.e., PHP 100 + PHP 50.

The significant advantage is that you can decide on the basic saving amount depending on your financial status. You can even start saving money as low as PHP 20, 10, or PHP 2.
Tracking the investments for the 52-week duration is a hectic affair. Custom-made templates for each denomination are readily available for sale, or one can develop his or her custom template for efficient tracking of the savings.

Even though the 52-week Ipon Challenge is a great option to achieve your financial goals, some find it challenging to stay motivated throughout the entire year.
Also, a miscalculation in setting the basic saving amount can be disastrous. By the end of the challenge, you have to save a substantial amount as your weekly savings. Getting money during festival months such as December might not be easy for many Filipinos.

Still, the 52-week Ipon Challenge is an excellent new year resolution for achieving financial independence. You can save up to 60,000 PHP a year, which is why some participants call it the 60k Ipon Challenge.

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12-Month Saving Challenge

Even with regular income, unexpected financial expenses can topple our saving scheme for the particular month. When we follow a scheme like the 52-Week Ipon Challenge, the increasing monthly saving towards the end creates a significant roadblock for its successful completion.

Since the fixed saving schemes do not consider the fund availability for the month, sticking to the challenge becomes practically impossible for people with low or irregular income.

As an alternative, personal finance coach Alvin Tabañag has introduced an income-based money-saving challenge known as the 12-Month Saving Challenge.
Instead of fixed saving patterns, the system tries to save a portion of your income every month along with a basic fixed saving amount. If you cannot save money for every month, you can mark your base amount as zero. Then add a percentage of your monthly income to the base amount, beginning with 1% on the starting month and reaching 12% at the final month.

The formula to calculate your monthly saving is the following:

Monthly Savings= Base Saving + [Monthly % * Monthly Income]

Let’s assume that Mr. A. earns PHP 20,000 per month. He starts a 12-Month Ipon Challenge in January, and his base saving is 0.

Now his savings on each month will be as follows:

January = 0+(1% x 20,000) = 0+200 = PHP 200.

February = 0 +(2% x 20,000) = 0+400 = PHP 400.

By the time it reaches December, the monthly saving will be PHP 2,400.

The primary advantage here is that you can be flexible about your base saving. Since the saving amount depends on your monthly income, it won’t affect your financial freedom. You can also improve base saving when you have additional income as well.
This challenge is becoming popular with its flexibility and efficiency in achieving long-term goals without imposing too much strain on your financial liberties.

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Peso Sense Ipon Challenge

Not everyone can stick to a saving challenge that demands continuous involvement. For such people, a saving challenge that gives flexibility while not compromising its saving aspects can be a blessing.

The Peso Sense Ipon Challenge is such a challenge. It’s gaining overwhelming acceptance among Filipinos due to its flexibility and saving potential.
Here, you prepare or purchase a template according to your financial goal. There will be bubbles against each denomination of Peso. Whenever you put a bill or currency into the box, you shade one of the corresponding bubbles.

There is no strict regime to follow. You can put money in the box whenever you have it, making this challenge the most suitable option for students or people with irregular income.
However, this flexibility is a bane as well. Unless you are super disciplined and have a strong desire, sticking with the Peso Sense Ipon Challenge is an arduous task.
So it is always better to club Peso Sense Ipon Challenge with any other challenges so that you continue with the saving spree without any compromises.

No Spend Day Challenge

For many working people, the weekend blast is the most anticipating event during the workdays. Naturally, people prefer spending their weekends in a fun-filled way to unwind the stress of a week’s work and rejuvenate their spirit. But the impulsive spending significantly damages their financial stability.

No Spend Day Challenge aims at the participant to avoid out-of-the pocket expenditure on a particular day. On workdays, not all can avoid spending. So weekends are the best choice for observing the No Spend Day Challenge.

Instead of hanging out with friends or shopping, you spend your time at your home with your family. It improves your quality time with your dearest ones and makes the atmosphere in the family charming.
The primary drawback of this type of challenge is that there is no guarantee about the returns. But it gives excellent returns by improving relationships.

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The Best Free Ipon Challenge Apps

There are various mobile apps available to make Ipon Saving Challenges a comfortable experience. Some of the popular apps are the following:

My Ipon Challenge: Piggy Bank & Savings App

In this app, you only need to specify your target amount. The app will list the possible challenges, and you can set your preferences accordingly.
It enables you to have different challenges for your varying financial needs and track them efficiently. The app gives a pictorial representation of the challenges. It helps the user make proper allocation of his or her resources in the most efficient way.

Ipon: 52-Weeks Money Challenge App

There are multiple apps available for the 52-Week Ipon Challenge. The most striking feature of this app is the visual representation of your current savings using various stats and ipon challenge charts.
It keeps the motivation levels high and helps you continue with the process. It also gives you timely notifications about your payments and enables you to design various challenges for different purposes.

My Money Challenge: Money Saving App & Piggy Bank

The significant difference between this app from other apps is that it splits your money into dollar denominations. It helps the OFWs make saving much more efficiently than checking the exchange rates every morning.
Many Ipon apps are available on the Internet, and you can choose one that suits your requirements.But whatever be the Ipon challenge formats, the participants financial discipline and determination to complete the challenge alone can make it a success.


  • How much money do you save with the 52 week challenge?
    You'll save PHP 1 the first week, PHP 2 the second week, PHP 3 the third week, and so on until you put away PHP 52 in week 52.
  • What is the money challenge?
    It is a way of saving money by saving according to a certain scheme.
  • What is a No Spend Challenge?
    A no-spend challenge is where you go for a set period of time without spending any money.

Why are Ipon Challenges so Popular in the Philippines?

The Philippines is a growing economy. We have people living across the globe, and their exposure has significantly changed the perceptions of money and wealth. The improvements in education levels have dramatically enhanced job opportunities and future growth possibilities of the younger generation.
People try to give their kids better opportunities through proper education, and for that systematic saving is essential. Besides, Ipon Challenges go in hand with the life of the Filipinos. So they can quickly adopt them without the fear of losing money or reputation.

Where to Get Money Urgently if You Have No Savings?

Many Filipinos realize the requirement for savings only when they are in urgent need for money. Naturally, you can’t start saving and get the emergency funds required at the same time.
Getting a loan either from banks or private lenders is the only possible option during emergencies. Bank’s red-tapism makes them unsuitable for emergency financial support, and the private lenders can be expensive.

However, legit lenders like Digido that operate with state licenses can be a great help here.

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Digido uses an entirely automated interface for loan processing. It means you can get our service around the clock all days of the year without any holidays or weekly off. Even if you live in another country or during vacation, you can apply for a loan as long as the internet is available. Digido eligibility conditions are minimal. Any Filipino within 21-70 years of age with a working mobile connection can apply for a loan. Digido offers unsecured personal loans of up to PHP 25,000. The entire process does not take more than a couple of hours.

With a loan approval rate of over 95%, Digido is the most dependable lender for emergencies for millions of Filipinos.

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Written by: Sean Martin D. Plantado

Author pages:
Sean Martin Plantado is the head of Customer Care Dept. and Online Sales Dept. of Digido Finance Corp. creating articles, blogs, and other learning mediums that helps Filipinos struggling on their financial literacy. Sean also loves Cycling, Photography, Cinematography, Online gaming, Fine Arts, and dreams of becoming a Doctor of Veterinary Medicine.

Reviewed by: Sean Martin D. Plantado

Author pages:
Sean Martin Plantado is the head of Customer Care Dept. and Online Sales Dept. of Digido Finance Corp. creating articles, blogs, and other learning mediums that helps Filipinos struggling on their financial literacy. Sean also loves Cycling, Photography, Cinematography, Online gaming, Fine Arts, and dreams of becoming a Doctor of Veterinary Medicine.