Have you ever done a money saving challenge before?
They are pretty fun. Don’t stress.
Alright, I am just going to say it. Saving money is VERY difficult when you are on a low, fixed income. And then…the bills…
Don’t get me started on the bills.
When you hear others say it doesn’t matter how much you make to be able to save money, you probably feel pretty cruddy. How much you make can definitely effect how much you are able to save.
Figuring out a good way to start saving money can be really hard, especially when we feel like money is tight. A money saving challenge is a great way to kick-start your savings!
There are tons of different reasons why you may want to do a money saving challenge. You could be saving up money for Christmas. You could be saving up for a big trip, or trying to build up your emergency fund. There is no wrong reason to try a money-saving challenge, all the reasons are the right reason.
How to successfully save
To be successful with this challenge or any savings plan, you need to have the right mindset.
You first need to find your WHY. Why do you want to save money? Is it to build an emergency fund? Are you saving so that you have a debt-free Christmas? Or may be you are saving for that dream vacation.
Write it down
Whatever your WHY is, write it down! Put it up on your fridge, your bathroom mirror, anywhere you will see it, to remind you.
When you have your why, I want you to get fired up.
Make a plan
Now, sit down and make a plan. Every month, I want you do to one thing, to either decrease your expenses or increase your income.
It can be as simple as negotiating your car insurance or selling something you no longer need.
Doing one thing per month makes the system realistic and manageable,
Find some unnecessary costs you can ditch and financial tools to help you out. You can easily reach your savings goals.
If you looking for savings tips, join our Ultimate Monthly Challenge. Each month you’ll receive a new challenge, with tips and ideas on how to achieve your savings goal.