Is one of your resolutions for the new year to get your finances under control? If so, the first thing I highly recommend doing is starting a budget. And I have a great series especially geared to beginners – but really, its totally applicable for anyone who wants to start a budget and get a control over their money.
Check out Part 1, Part 2 and Part 3. Part 2 comes complete with an Excel template to help get you started! Alternatively, I also have a template which is geared towards families for whom childcare is a big expense here.
But for something a bit more tangible, I’ve also created a quick and easy Money Saving Challenge to motivate you to start SAVING!
All you do is save the dollar equivalent of the calendar week we are in. You can set up an automatic transfer OR simply take the money in cash and put into a jar.
Here is what it would look like – check out how much you would have saved by the end of the year!
Obviously, this isn’t a life changing amount of money. But its still significant enough to do something special with – dropping a sum like that on your mortgage could take months off your amortization. You could use it for a family trip (or romantic getaway for you and your partner) make a big ticket purchases you’ve always wanted. Or you can just keep it for a rainy day and have that peace of mind that comes along with just having it there in case.
Up for a bigger challenge? Here is what it would look life if you doubled the amounts:
So what are you waiting for? This week is super easy – start by saving just $1.