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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.

Your mission is to calculate how much you spend daily on things that are non-essential (starting TODAY). 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!

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

 

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 Savings Challenge Private Community 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: Savings Challenge Private Community  (if you’re not already a member.)

Live richer,

Tiffany “The Budgetnista”

A Freebie: Have you saved and printed the Live Richer Starter Kit yet? It’s full of awesome freebies. 

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https://thebudgetnista.com/wp-content/uploads/2023/07/LRC-Savings-Edition-Starter-Kit.pdf

 

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  • I already have one essential spending day. It is Saturday when I do my shopping (food, pet supplies, pharmacy, etc.). The only essential item I buy on a different day is gas for my car (I don’t always need to fill my tank that day). I will start to keep track of my non-essential spending and will use cash only. That way I can add the change to my Financial Freedom Bucket (I don’t use cash often anymore).

  • I try to do one essential day but some time I go back for items I forgot. I’m spending now on only what I need.

  • I’ve made it to Day 8
    What non essential items? ( splurge items coffee from Starbucks, vending machine purchases,etc)? I am a consistent saver and wealth builder. Structured splurge and Saving can happen at the same time

  • I didn’t do well. Saturday’s are my running around days and usually I’m at Starbucks, grabbing something snack on and then we go out to eat for dinner. I’m going to track what I would have spent money on this week and see how it goes.

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