The No Spend Challenge

My reading list this last weekend included Dave Ramsey's Complete Guide to Money. If you are interested in turning around your finances I can't recommend him enough. I also have a couple of other resources that you should check out and I'll be talking about it much more over the next couple of weeks.

I'm also going to be doing some vlogging on YouTube on my little used channel to talk about my own struggle with finances.

I've been there. I promise.

So, the topic today is THE NO SPEND CHALLENGE.

Just what is a No Spend Challenge?

It's just what it sounds like. You pick a period of time and for that time you spend no extra money, other than what your bills require.

This may sound daunting, but if you are struggling for money it really isn't as big a challenge as you'd think. Heck, there was many a week where I spent all my money on bills and groceries and had nothing left. Like this week. The thing about this is to show yourself how much money you spend on all the "extra" stuff. By extra I mean, that coffee in the morning, the burger through drive thru because you are running late... and my biggest problem... that $3 sale through E.L.F. cosmetics (because it is ONLY $3).

The thing is... it adds up. Quicker than you think. When I was doing taxes this year and going through my personal finances I came to the conclusion that if I had funneled all the money that I had spent at Dunkin' Donuts into stock I could have a nice, hefty sum. Scary.

So, I suggest picking a short period of time, like a pay period and try it. It can't hurt and it can only help. It forces you to think ahead, instead of in the moment... and that's a mighty thing.

Let me know how it goes for you. Maybe we'll make this a Facebook Challenge for those that want to participate.


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