Spending Challenges
Join challenges to transform your spending habits.
Benefits
- Increased awareness of spending triggers
- Helps differentiate between needs and wants
- Immediate money saving
- Encourages creativity with existing resources
How It Works
For 7 days, only spend money on essentials like groceries, bills, and transportation. Keep a record of things you wanted to buy but didn't, and reflect if you really needed those purchases.
Benefits
- Creates a tangible awareness of spending
- Prevents overspending on budget
- Discourages online impulse buys
- Helps track exactly where money goes
How It Works
Withdraw your discretionary spending budget in cash at the start of the period. Use only this cash for all non-essential purchases. Once the cash is gone, you cannot spend more until the next period.
Benefits
- Eliminates unused services
- Reduces monthly recurring costs
- Identifies forgotten subscriptions
- Creates awareness of total subscription expenses
How It Works
List all your subscriptions, including streaming, apps, and memberships. For each, decide whether to keep, downgrade, or cancel. Aim to reduce your total subscription costs by at least 20%.
Benefits
- Significant reduction in food expenses
- Improved nutrition and portion control
- Development of cooking skills and creativity
- Reduced food waste through planned meals
How It Works
Plan your meals for 2 weeks. Shop with a specific list according to your meal plan. Dedicate 2-3 hours each weekend to prepare meals in advance. No takeout, delivery, or eating out is allowed during the challenge.
Benefits
- Generates immediate cash income
- Creates more space at home
- Reduces attachment to material possessions
- Discourages future unnecessary purchases
How It Works
Identify at least 30 items you no longer need or use. Take good quality photos and list them for sale on appropriate platforms. Aim to list at least one item per day for 30 days. Use all proceeds for savings or debt repayment.
Benefits
- Builds a gradual savings habit
- Creates momentum with small successes
- Learns to adjust spending for more savings
- Significant savings by the end of the challenge
How It Works
Start by saving $5 in Week 1. Increase the savings amount by $5 each week (Week 2: $10, Week 3: $15, etc.). By Week 12, you'll be saving $60 that week, totaling $390 saved over the challenge.
Benefits
- Prevents impulse purchases
- Develops mindfulness about spending
- Helps differentiate wants from needs
- Reduces buyer's remorse
How It Works
When you feel the urge to buy a non-essential item, write it down with the price and current date/time. Wait at least 24 hours before deciding to buy. After 24 hours, re-evaluate if you still want or need the item.
Benefits
- Complete awareness of where money goes
- Eliminates wasteful spending
- Ensures all financial priorities are addressed
- Provides a sense of control over finances
How It Works
Before each month starts, allocate every dollar of your income to specific categories (bills, groceries, savings, etc.) until your income minus allocations equals zero. Track all spending throughout the month to ensure you stay within each category's allocation.
