Have you ever heard of a no spending challenge? Many individuals have a hard time saving. According to Forbes personal savings is on the rise, but for many individuals, this is not the case. There are many ways in which individuals have tried to cut costs. Many of cost-cutting ideas seem very restrictive. Imagine never having a latte again, or never eating out. If you are one of the many individuals who need to save more I would suggest completing a one week no spending challenge.
To start your challenge I suggest that you pick one week a month that is not on a holiday. During this week the goal is not to spend at all. Though this may sound daunting, it is only for one week this month. Instead of doing your normal activities such as meeting your friends for a Happy Hour I suggest going to a free activity. Pack your lunch this week and eat with some of your coworkers in your break room instead of getting fast food. There are many ways in which we all can replace our normal spending habits with low-cost alternatives.
Not sure that you can make it a whole week? Why not try a no spending day. Do this once a week and you will have completed 52 throughout the year. Have faith that you can complete the no spending challenge. Need a little motivation, read Financial Thankfulness and start your planning for your challenge today. I would love to hear how you did on your first of many no spending challenges, so keep me updated.
