Introducing a no-spending day a week will help you keep your cash hidden. Here’s how.
You’ve probably heard of the popular 5: 2 diet over the last few years.
The point of a diet is to eat normally for 5 days and limit calories for the remaining 2 days. It’s a great way to lose weight and also to notice the calorie content of the food you’re consuming. Have you considered applying the same principles to your weekly budget?
please think about it. Exactly the same as a 5: 2 diet, but instead of limiting calorie intake, it limits spending. Money diet. Instead of losing 1kg a week, you can save money for something fun.
And if you have a non-spending day every week, that amount of money you save can be summed up really fast. That’s all about saving money-saving where you can so that you can spend it on something more meaningful.
Do you think you can’t do that? Here are some tips for days without spending:
Plan a free day in advance
Decide when to plan a day without spending and keep it on the same day each week. Take that into account when you plan your week. Please be aware that you cannot buy fine coffee at the station on your way to work. You know you need to have your own lunch. Plan for success!
I have a goal-what do you spend your savings on?
As I said before, knowing why you’re saving money can help you get going. What do you use this money you are saving for? Are you planning a family vacation? Weekly cleaner?
Make a note of it and put it where you can see it. Take a picture of your goal and put it as wallpaper on your phone.
Know the total cost of your goal and calculate the number of weeks without spending needed to reach it.
What happens if I spend money on a day when I don’t spend?
It’s okay to fall off the wagon … it happens. Think about what led you to that spending. Was it pressure from your peers? Did you get bored or did you just lose your willpower? Analyze what went wrong, forgive yourself, set another day during the week and try again.
Spending does not mean you do not pay your bills
This item is not required. Consider the following purchases:
● Daily coffee (about $ 5 each)
● Purchased lunch and drinks (lunch can be $ 15 to $ 20)
● Take-out dinner ($ 40 to $ 60 for family)
● Chocolate bar ($ 3 or $ 4 each)
● Magazine or app subscription ($ 7 or more)
Analyzing the amount of money you spend each day on non-essential items, you may be surprised at how fast they add up. And we tend to spend money on days when we feel a little silly. Moreover, I don’t want to be sued if I use this article as an excuse for not paying invoices.
Please put it somewhere safe
Sum up all the savings you make and make sure you put that money somewhere. If you have cash, bottle it, open a savings account, or invest your savings in one of the nifty apps like Raiz to invest your savings in the stock market.
Remember to always reward yourself for good things. So if you stick to your savings for a period of time, allow yourself a little special (nothing blows your savings, but it’s a treat!).
Saving money shouldn’t feel like you’re giving your kidneys or your first child. It should be something you feel good about what you do. There should always be a reward for all your efforts. The reward tells your brain that you are doing the right thing, and you are more likely to stick to a money diet!
Jody Allen is the founder of Stay At Home Mum, a network of mothers. Find her at @ StayHomeMum on Facebook, @ jodyallen.stayathomemum on Instagram, and @JodyAllen_SAHM on Twitter.
Place of originSavvy Shopper: One simple trick to help you save big bucks