We’re in the third and final week of the NEW YEAR NEW YOU, Give Yourself a Raise in 21 Days, campaign. The tips are really heating up. If conventional wisdom can be trusted, 21 days is enough time to form a new habit. We’re helping you develop the better-control-over-finances habit. Enhance your debt ditching experience by conserving cash and reaching your debt free goals even sooner.
Remember, each week we are giving away great prizes to help motivate you. You can’t win if you don’t enter. The final drawing will be held on January 20. Click here for more details.
Day 7: Brown Bag It
50% of the American workforce spends $1000/year on coffee. 66% spend $2000/year on lunch. Are you looking to Give Yourself a Raise in 21 Days? Avoid the burgers and fries, pack a lunch from home, and ditch your debt (along with a few inches from your waistline) even faster.
Day 8: Rescue Your Resolutions
Are your resolutions already looking like a lost cause? Check out simple strategies for making your resolutions stick:
· Focus on one resolution
· Find accountability partners (a Money Buddy)
· Set very specific goals
· Connect your resolutions to existing habits
· Attempt a trial run
Day 9: You Better Shop Around
Insurance expenses tend to get the set-it-and-forget-it treatment. Make sure to review your insurance policies (home, health, auto, etc) on an annual basis to ensure you are not under/over insured or missing out on cheaper options.
Day 10: Shop Discount Grocers
I’ve admitted to the world that I was a grocery store snob. Food is a large variable component to any budget. I saved 35% by locating a quality, discount grocery. Keep the advertising budget for large, national chains in your pocket when looking for ways to conserve cash.
Day 11: Try Envelops
Grab a handful of envelopes, a pen and your expense list. Write the name and amount of one expense on each envelope. DON’T FORGET entertainment and savings. Put cash in the envelope (only the amount you wrote on the front) and when it’s time to pay, use only the money in the envelope. No cheating (using rent money for the movies)!! When it’s gone, it’s gone!!
Day 12: Switch Your Style
A recent survey found that women can spend $4,000-$80,000 per year on weaves and extensions. A fashion forward style becomes a problem when you are carrying debt to maintain your look. Take a temporary reprieve from the costly up-dos and redirect those funds and achieve financial freedom.