Consider a Monthly Cash Diet to See How Savings Stack Up
Money problems may not be for everyone. But in most cases, they can at least teach us something about our financial habits. Consider a monthly “cash diet” to see how much your savings add up.
Eliza Cross of HappySimpleLiving has been organizing the January Monthly Diet for the past six years. For the entire month, Cross takes a break from all non-essential expenses. In an interview with Forbes, she explains how the challenge is helping her finances:
When I see how quickly money can accumulate, when I don’t spend it on restaurant dinners, impulse purchases and more, it’s very exciting. Financial hunger inspires me to take a closer look at how I spend my money the other 11 months of the year.
Again, money issues certainly have their critics, but I love a lot of them. They can give you a sense of control, and this can often lead to better habits. For this particular challenge, I love the idea of seeing how much can be cut.
You can also learn a lot about your spending habits. You may find that there are things that you pay for but that you can get for free. You may find that some of the services you are spending money on do not actually take a lot of time or effort to work on your own. You can get a clearer idea of what “core” costs are.
You can join the Cross Challenge using the link below, or just try it yourself. Either way, check out her full post to find out more.
Would you like to join the January Money Diet? | HappySimpleLiving via Forbes
Photo by JR .