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LRC Savings Edition - Day 8: Essential Spending

LRC Savings Edition - Day 8: Essential Spending

By TheBudgetnista -  Tags: , ,

Day8-Essential-Spending

New to the Live Richer Challenge: Savings Edition? Learn more about it HERE and sign-up.

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Need to catch up? Click on the link where you left off and then come back!

Day 2: The First Law of Gold

Day 3: The Money Bucket For Savings

Day 4: Purposeful Spending

Day 5: Make a Move

Day 6: Review, Reflect, Relax

Day 7: Weekly Inspiration

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Week 2: Implementation & Automation 

This Week's Goal: To create a strategy to accomplish your savings goals.

Before you get started…

Every week during the LRC I’m going to ask you anonymous survey questions in the beginning of the week. The purpose of the survey is to see if the challenge’s Easy Financial Tasks have actually helped you master your money.

IF YOU HAVE NOT ALREADY….Please help me make the challenge even better by taking Week 2's, 10-second, Pre-Survey HERE. 

After you complete this 10-second survey and click, DONE, it will automatically lead you back here to today's task. Thank you!

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Today’s Easy Financial Task: Kick non-essential spending to the curb.

How to Rock This Task:

  • Only buy things you need today. Cut out all non-necessities like coffee, tea or lunch. (Don’t worry—you won’t have to starve. Just bring lunch from home.)
  • Write down each time you want to spend money.
  • Add up how much you save.
  • Put the money you save at the end of the day into your Money Bucket.
  • Share how much you save with your accountability partners.

Welcome to Week 2!

You’ve made it through an entire week of the Savings Challenge. Give yourself a pat on the back. Get ready for a full week of activities that will help you gain control of your money.

Today, your mission is to calculate how much you spend daily on things that are non-essential. After completing this task, you’ll see just how much money you can save when you stop making small non-essential purchases here and there. Trust me: if you want to see your savings account grow, you must get a handle on your spending.

Once you’ve calculated what you’ve saved by not spending money throughout the day, you’re going to take this task one step further.

Remember the Money Bucket we created last week on Day 3? Transfer the money that you save today into your Money Bucket, no matter how small. Then commit to having at least one “essential spending only” day per week and you’ll begin to see your Money Bucket grow before your eyes. Ready, set, go!

Share what you're doing with your tweeps!

Today I'm only spending money on the essentials! Day 8: #LiveRicherChallenge Click To Tweet

I’m very excited to hear how much you were able to save today, so share your savings commitment with me in the comments vs. emailing me.

Make sure to contact your accountability partner(s) early today. Give each other a pep-talk about only spending money on essentials today. Remind each other to bring coffee and lunch from home today, instead of buying those things while at work. At the end of the day, check-in again. How much did you both save? Encourage each other to transfer that money to your Money Buckets.


Don’t forget to check into the LIVE RICHER forum to get connected with other Dream Catchers working through this task. At the end of your essential only spending day, come back here & tell me in the comments how much you transferred  to your Money Bucket. 

Remember, you can reach out to me here:

Twitter: @thebudgetnista

Instagram: @thebudgetnista

Facebook: The Budgetnista

Forum: Dream Catchers  (if you're not already a member.)

Live richer,

Tiffany "The Budgetnista" Aliche

A Freebie: Have you saved and printed the Live Richer Starter Kit yet? It's full of awesome freebies. Click the picture to get your kit.


Want to work through the Live Richer Challenge: Savings Edition in a workbook? It's already an Amazon Bestseller!
Click the link below and get your copy.

 

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Tiffany “The Budgetnista” Aliche is quickly becoming America's favorite, personal financial educator. The Budgetnista is also an Amazon #1 best selling author (The One Week Budget and Live Richer Challenge), sought-after speaker and teacher of financial empowerment.
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