April is Financial Awareness month. It’s a great time for us to focus on our finances.
It’s Week 2 of the #Make1Change Money Challenge! How did you do last week?
For the week 1 challenge we fasted from spending. I usually make multiple trips a week to the grocery store. I also stop at other places that sell food or toys or whatever my kids are begging me for after school. Fasting from spending for most of the week was great to me. I know that unnecessary spending everyday adds up over time. It’s a bad habit. One of the best things about these challenges is it makes us more aware and hopefully, more intentional about how we are spending our time and our money.
If you didn’t catch part 1 of our 2 part podcast with my favorite budget coach, Ericka Young, go back and check it out: Pay Now or Pay Later, Part 1. Our conversation and Ericka’s story of paying off a $100K in debt in 5 years by making small, consistent changes is going to inspire you to join this challenge.
I planned on having part 2 of the podcast published last Thursday. Instead of focusing on the blog and the podcast, I decided to focus on making sure my family had what they needed since I was leaving town for the weekend. Our regular posting schedule for podcasts is the 2nd and 4th Thursday of the month. It will be up according to the regular schedule, this Thursday, 4/14.
The 4 challenges are:
- Challenge 1 (week of 4/4) : Fast from spending. Don’t spend any money this week. The only exception to this rule is gas or kid’s lunch money. Everything else has to wait.
- Challenge 2 (week of 4/11) : No dining out this week. Pack your lunch for work. Get in the kitchen and cook at home instead of going out to eat.
- Challenge 3 (week of 4/18) : You spend more when you don’t pay with cash. This week we only pay with cash. This includes only shopping. No online shopping this week.
- Challenge 4 (week of 4/25) : Figure out what debt is costing you, long term. This exercise will inspire you to turn up the intensity for getting out of debt.
Let’s get started!
Here’s a little insight from Ericka about the Week 2 challenge:
Here’s the deal… Food is a necessity. But dining out is not. When you eat at fast food restaurants, you spend at least 5 times what you would spend at home on the same meal. If eat at a sit down restaurant you are likely spending 10 times the amount you would spend at home on the same meal. We have to eat but do we have to do it this way? The costs and pounds can add up quickly. Let’s not even talk about the lattes, gas stations, and vending machines! Everywhere you go there is something to buy and eat. This week I challenge you to just say NO! Go buy some lunch meat, prepared salads, frozen quick meals, fresh fruits and veggies for on the go and eat at home. You will certainly need to plan and do some grocery shopping but in the end you will still eat and be satisfied. You may want to try out a new recipe to keep your interest. You have the goods to be successful just give yourself the opportunity to try.
Join this week’s challenge. No dining out. Leave a question or comment about the challenge below. Chat with us on Instagram (@kendratillman) or Twitter (@kendratillman). Use hashtag #make1change. We can’t wait to hear your success stories.
P.S. If debt has been holding you back from reaching your goals, schedule a 30 minute complimentary budget session with Ericka: I’m Ready!