New to Live Richer Challenge: The Fundamentals? Learn more about it HERE.
Week 2: Budgeting & Saving
Today’s Easy Financial Task: Create your Money List
How to Rock This Task:
- List everything you spend money on
- Write down how much you spend monthly on each expense on your Money List
- Add up your Money List and subtract the amount from your monthly take-home pay
- Use The One Week Budget (Day 1) from yesterday's task, to help you fill out your Money List
The reason why this task is so critical is that if you change your budget, you change your life.
Having a budget has enabled me to totally re-design my life despite losing my job, being a victim of fraud that lead to me owing $35,000 in credit card debt, losing my home to foreclosure and my 802 credit score plummeting to 574. With the help of my budget, I now:
- Work for myself and fully support myself with my business, The Budgetnista
- Travel the world (for much less than you’d think)
- LIVE RICHER: a purposeful, passionate life
You might be feeling a little overwhelmed after this task, but don’t worry, that’s normal. The rest of the challenge is going to teach you how to take control of your finances and change your results. Remember, I’ll be here with you every step of the way.
FYI: Even if you don't have an income, creating a budget is still necessary, because you'll need one once you regain your income. Always remember, you won't have to get ready if you stay ready.
Share your commitment to your financial future...Today I will create my Money List - my budget. Day 9 #LIVERICHERChallenge Click To Tweet
Here’s a blank Money List Template you can use to complete today’s task:
Click here for the PDF version of The Money List: my money List (updated).pdf
Click here to auto-download the Excel version of both templates (there are some other goodies included, but we'll address them later on during the Challenge) : My Money and Debt List (in Excel with formulas).xls (the 1st spreadsheet)
Today, your job is to ONLY fill out the first 2 columns on your Money List and the DATE column. We'll get to the rest of the columns later on in the week.
Think you can't budget because you don't receive a regular income? Think again. I wrote a post just for you: How to Budget When You Don't Have a Regular Paycheck.
Thoughts? How are you feeling about today's task? Please share your thoughts with me in the comments below & with Dream Catchers in our closed LRC Forum, HERE.
If you need a bit of a pep-talk about today's task, listen to a call I recorded with other Dream Catchers. It was awesome and will lift your spirits if you let it. You can listen to the call recording here: http://fccdl.in/3JnWCNxVp
Reach out to me here:
Facebook: The Budgetnista
Private Forum: Dream Catchers : LIVE RICHER
(If you’re new to the Dream Catchers: LIVE RICHER forum make sure to fill out the questionnaire HERE before requesting to join.)
*** Have you just started the challenge & want to catch-up, or just want to work through the LIVE RICHER Challenge in a workbook as well? You can get it here NOW: LIVE RICHER Challenge Book ***