For 21 days (May 1-21) we’re only spending on essentials. Why? First, because you can’t out earn a bad spending habit. Secondly, it’s time to start working towards achieving our goals. Only you know what your goals are, so be sure to write them down and keep them in front of you to keep you motivated. Thirdly, it takes about 21 days to create a habit and about 90 days to see some changes in your finances. With a little patience, consistency, and discipline you’ll start to see your financial situation transform right before your eyes.
Who is this challenge for? If you’re tired of the paycheck-to-paycheck cycle, then this challenge is for you. If you’re an impulse shopper, then this challenge is for you. If you’ve created a budget, and you know that you make enough to cover your essentials, but somehow you always end up short at the end of the month, then this challenge is for you. If you find yourself always having to use your credit card or take out a loan for emergencies due to a lack of savings, then this challenge is for you. If you just want to challenge yourself to try something new and see where it takes you, then this challenge is for you.
How will I know if this will work? You won’t know unless you try. Really commit to this challenge if you want to see some real change. I did this challenge from January – March of this year, and let’s just say that I saw my savings account go up…which means more money for my emergency fund, my goals, and investing.
I feel like things are just opening back up. Does this mean I can’t go out and enjoy myself over the next 21 days? You absolutely can go out and enjoy yourself! With some things you will just have to get a little bit more creative, so that you spend as little or no money as possible. For instance we all know we have to eat daily and this is not a challenge to make you eat at home and cook over the next 21 days. I would be lying to you if I said, I was going to be doing that. Sometimes it’s just easier and more convenient to just pick up something. What I’m saying is when you do decide to pick up something to eat, do you need to go to Ruth Chris or another expensive restaurant or will Outback Steakhouse work just fine? These are the questions that you will need to ask yourself as you go through the next 21 days.
Ok! I’ve heard enough...I’m in! Where do I start? Now that you’ve made your mind up and want to see your finances transform, today I want you to create a budget. There is no fancy way of doing this…just list out all of your income an