How To Save Money In 30 Days
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I have to admit. I suck at frugality.
I don't think I'm the only one either. I don't know whether I've been influenced by the media or our culture, or whether it's the way I was brought up (probably both). But when I see something I want (if it's reasonably priced), I don't think about it much and just buy it. Who cares if it doesn't fit into the budget. Hang on a sec, what budget?
Have money will spend. But of course that means it's terribly easy to go into debt. But I'm not going to blame anyone else. My spending is my problem. Plain and simple.
Generally most people spend more than they make. It's like we don't want to defer our wants and invest for the long term. Way too much effort!
You already know how to have more money
Everyone does. You just have to spend less or earn more. Of course, earning more can be tricky for many. Great if you can do it, but not all of us can.
We all want to save money at some point. Whether it's for something special like a holiday or you just want to make a dent on the credit card balance, it's something that all of us try and do. But for most of us (and by that I mean me of course) it can be a struggle. So I stumbled onto a little challenge that helps you to save money in 30 days by going on a spending detox.
What's a spending detox you ask?
It's a month long challenge where you stop spending on anything unnecessary. Yes you read that right. You just stop spending for a month. Think you could do it?
Have money will spend. But of course that means it's terribly easy to go into debt. But I'm not going to blame anyone else. My spending is my problem. Plain and simple.
Generally most people spend more than they make. It's like we don't want to defer our wants and invest for the long term. Way too much effort!
You already know how to have more money
Everyone does. You just have to spend less or earn more. Of course, earning more can be tricky for many. Great if you can do it, but not all of us can.
We all want to save money at some point. Whether it's for something special like a holiday or you just want to make a dent on the credit card balance, it's something that all of us try and do. But for most of us (and by that I mean me of course) it can be a struggle. So I stumbled onto a little challenge that helps you to save money in 30 days by going on a spending detox.
What's a spending detox you ask?
It's a month long challenge where you stop spending on anything unnecessary. Yes you read that right. You just stop spending for a month. Think you could do it?
Are You Crazy? Stopping Spending?
Actually it sounds kind of interesting, tell me more
The idea behind the challenge comes from the book 30 Day Spending Detox whereby you cut out all spending except for the absolute essentials.Basically you can buy food (but only from the grocery store, not takeaway), and of course you still need to pay your utility bills and rent/mortgage. And if you have any emergencies like medical issues then that's a given as well.
But everything else is off limits.
Sounds extreme doesn't it. But you'd be surprised how much fun it can be as you become creative in finding different 'no cost' ways to save money in the month. For example, instead of meeting a friend for coffee at the local coffee shop, you instead invite her over to your house (and as an added benefit no-one can overhear your gossip).
Plus you'll have loads more free time that you wouldn't normally have because you won't be spending it at the shopping mall all the time. So it gives you a chance to do those things that you've been putting off.
It's those small purchases that make us poor and by cutting them out, just for one month, you get to see how much you actually spend on things you don't really need.
Could You Stop Spending For 30 Days?
Save money by packing your lunch every day
Ok, so this is the tip that everyone starts with. But it does work.
When I was working full time, it wasn't unusual that I'd spend $10-$15 a day buying my lunch. If you add that up, that comes to $2,400 a year (based on $10 a day times five days a week times 48 weeks a year).Now that's a lot of money.
But if you can take left-overs or make something nice from scratch and take it to work instead you can save nearly all of that.
But a whole year is a long time. Try it for one month instead. Every day for the next month, pack your lunch. You could potentially save $200 for the month doing this (depending on what ingredients you buy or left overs you use).
Yes it's a bit of effort to make your own lunch every day, but isn't the money worth it?
What's In The Book?
It teaches you everything from what to expect when doing a spending detox, saving money on things like groceries, how to make money to boost your income and lots more.
How Much Money Can You Save In The 30 Days?
Obviously everyone is different depending on their lifestyles and current spending habits, but it's not unusual to save at least $500 in the month. Many people even manage to save $1,000 or more.It sounds a lot, but if you think about it, you'd easily spend $200 a week on things without thinking. A can of Coke here, a magazine there, a groovy new t-shirt. It all adds up so quickly.
Many people are really surprised how much money they can save in 30 days just by stopping spending for a month.
The key to making it work is to concentrate on what you are gaining (a healthy bank balance, lower debt, financial control) rather than what you are giving up. If you look at it as gaining control back over your finances then it's a really good challenge to do.
Now of course, it's not sustainable long term, but for just one month it can open your eyes to how much unnecessary spending that you do so that when it's over you can be more mindful of what you buy from then on.
Plus it makes a really good jump start to a new savings plan which makes it a great new years resolution if becoming wealthier is your goal.
So I guess the question is now, are you up for the challenge? How much money can you save in just one month? Only one way to find out ..
Take The Challenge!
How Much Money Can You Save In 30 Days?
About Me
by TraceyE
Tracey is a mother, writer and author. She creates squidoo lenses for a little extra fun and cash.
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