Whenever we enter a new year, it seems there’s always a challenge to take part in, in the interest of bettering yourself. Many of these focus on meal plans and exercise. But what about your financial health?
Introducing the no spend challenge! The goal of this challenge is to help make you more aware of your discretionary spending and identify areas where you may be able to cut corners and save. This challenge can run any amount of time you would like: a week, a month, or even longer. For our no spend challenge, we are going to run for two weeks, beginning on Monday, February 10th.
Before you can start, there is homework! Take the time to sit down and really think about how you spend money and identify three things that you are going to commit to cutting out for two weeks. If you’re able to, set the money aside that you would normally be spending. Then, at the end of two weeks, you can really see the difference that two weeks can make!
If you’re one of those people who, if you aren’t spending the money on one thing it has to go to another, keep a running total of how much you would have spent, so you can at least see the difference that way.
At the end of two weeks, you may discover that something you chose to cut out was something you didn’t really miss, and you could put that money to better use!
If you’re interested in participating, we’d love to hear from you on social media!