30 Day Money Challenge
When you take a look at your bank account, how do you feel? If you’re like most people, you’re wishing there was a little more (or a lot more) in there. After all, who couldn’t use a few more dollars in their checking or savings account?
But it’s not always easy to change your habits and or look at ways to make that happen. But here are some simple ways that might help you establish new habits while they help your wallet.
- Day 1: Adjust the temperature in your home. If you have your heat on, turn the thermostat down a few degrees (and grab a sweater), or if you’re running your air conditioner, turn it up a few degrees.
- Day 2: Don’t use your credit cards at all.
- Day 3: Gather all of your bills and call and see if they are running any promotions or specials. (This is great for things like cable television or your cell service.)
- Day 4: Look at your current credit cards and check the balances. If you are carrying over balances each month, work to pay off the cards with the highest interest rates first.
- Day 5: Make your coffee at home! No trips to see your favorite barista for a while.
- Day 6: Pack your lunch, so you’re not always eating out at work.
- Day 7: Check your memberships. Do you have memberships you are not using – for example, to a gym? Then cancel them. That’s money in your pocket.
- Day 8: Create a budget. This will help you see exactly where your paycheck is going.
- Day 9: Contribute to your retirement. Yes, you’re trying to save money, but if your employer has a retirement plan, this is almost always a good investment.
- Day 10: Set up an emergency savings account.
- Day 11: Cancel subscriptions. Do you have magazines coming to your home that you’re not reading? It’s time to call and get them canceled.
- Day 12: Get an app to track your spending. You need to know where your money is going – and an app is an easy way to do this.
- Day 13: Check your credit score.
- Day 14: Make no major purchases for 30 days.
- Day 15: Contact your insurance companies. Check-in with your insurance providers and see if there are ways to reduce your fees. You might get a reduced rate on your car insurance, for example, if you’ve been a while without a ticket or an accident.
- Day 16: Set your bills up for autopay. No more late fees if you have everything automated and ready to go.
- Day 17: Create some financial goals. Write down 3-5 financial goals you have (short-term and long-term) and come up with a plan to make them a reality.
- Day 18: Think about ways to earn more income. Maybe a side hustle?
- Day 19: Go through your home and declutter. Sell things you no longer need or use.
- Day 20: Shop for better credit cards. It may be time to shop for credit cards with lower interest rates or that offer cashback on purchases.
- Day 21: Consider moving to “cash only” and putting your credit cards away.
- Day 22: When making any purchases – make sure you are comparing prices.
- Day 23: Eat at home for the next 30 days.
- Day 24: Seek free entertainment opportunities.
- Day 25: Outsourcing a lot of tasks/services? It may be time to cut back.
- Day 26: Shop for groceries wisely. Groceries make up a large part of your budget – so you want to make sure you are shopping smart by buying in bulk and shopping sales.
- Day 27: Unsubscribe from online retailers. Retailers hope that all of their emails will entice you into buying something, but when you don’t get their emails, the temptation decreases.
- Day 28: Negotiate loans. If you have loans (i.e., car or student loan), speak with your bank to see if better rates are available.
- Day 29: Save your extra change. If you have a bunch of change hanging around, start putting it in a coin jar as an easy means of saving.
- Day 30: Download some apps. There are all sorts of apps that can save you money. Restaurants, grocery stores, and many other retailers offer all sorts of savings via their apps. Download those places you frequent most often.
If you’re ready to save some money, then give this 30-Day Money Challenge a try! Even if you just try a few of the things on this list, you should see a few extra dollars in your wallet.