Tired of an empty bank account? Would you like to eliminate the fear of receiving bills? Wouldn't it be great to be free of debt once and for all? How to get rich: The Fastest Way to Overcome Debt How to Get Rich: The fastest way to overcome debt Imagine being debt free. No overdrawn credit or unpaid bills. There is a foolproof way to get out of debt. It starts with a plan and some discipline. Let's visit the other ingredients. Read More ? Improving your personal finances is just like dieting, exercising, and other habit-forming goals. Develop good daily habits with 7 painless tools and guides. Develop good daily habits with 7 painless tools and guides. When you do this, you'll need to set very specific habits You'll make them work. Discover seven great websites and apps to inspire your habit formation. Read more: you just need to start small. Using Micro Habits and Spark Massive Personal Change Procedures Using Micro Habits and Spark Massive Personal Change Procedures Creating new habits is difficult. Habits are usually built over weeks or months of repetition, and motivation is the challenge. When the going gets tough, micro habits can be a big help. Read more, start slow and let the momentum grow over time.
However, building new habits is difficult, and the lack of a routine, too many goals and poorly defined goals make it harder. This is why predefined, one-step challenges are so effective at building new habits. All you have to do is follow.
Refinery29's 30-day challenge
If you decide to attempt just one 30-day personal finance challenge in your entire life, let it be this. Not that this is the ultimate solution to all your financial problems, but it's probably the best crash course we've ever seen, and worth checking out for yourself.
The creators of this challenge, Lindsey Stanberry and Priya Malani, have gone to great lengths to make this assignment as informative, understandable, and easy to follow as possible. If you're a complete novice when it comes to personal finance and have no idea what to do, this challenge is for you.
For each day, you will be given a single task, the tools you need to complete it, and the estimated time it will take to complete it. But what's especially nice is that each day comes with lessons about financial basics, examples from the writer's own life, and some encouraging words.
Day 16, for example, is not just about setting up an emergency fund, but reasons why such a fund is important and how to best use it.
You'll also be challenged to save a little money every day. 4 ways to save money with apps and websites 4 ways to save money with apps and websites It's important to have enough money in your savings accounts. Take the first steps toward financial security by using these apps and websites. Read more and culminate in just under $500 later this month. Not only will you be equipped with a new financial mindset, but you'll also have a substantial amount of money to show for it!
Forbes 30-day money challenge
Regardless of how you feel or don't feel about the quality of content at Forbes right now, overlook this great 30-day money crash course written and compiled by the site's writers and contributors. It's actually pretty good, especially for anxious newbies.
The goal of this money challenge is simple: train you to be more aware of your money situation, build a healthier attitude toward money, and help you curb harmful spending habits. It's about taking control of your money, rather than being controlled by your money.
To start, learn the basic fundamentals like reading your paycheck, checking your balance online, tracking your spending, and discovering your money personality. These simple steps are designed to get your feet wet and you'll be feeling good in no time.
In the end, you will learn how to trigger emotional spending, consolidate or refinance large debts. How to save thousands: Consolidate your student loans How to save thousands: Consolidate your student loans The average 2015 college graduate needs $35.000 repay loans. Here's how loan consolidation can help. Read more, cut unnecessary expenses and even make a little extra money to help you achieve financial freedom.
The 30-day no-spend challenge
Maybe you need something simpler. Possibly the above course-type challenges include too much information and ask too much of you. You may just want to focus on wasting less money. In this case, this challenge is for you.
The 30-Day No Spend Challenge is exactly what it sounds like: eliminate all unnecessary spending for one month. For 30 days, set aside your debit and credit cards, freeze your online accounts, and do everything you can to avoid impulse purchases. Buck the trend: 5 tips to avoid online shopping Buck trend: 5 tips to avoid online shopping Are you an impulsive buyer? Throw money away on items you don't really want or need? Here are some tips and tricks to help you regain control. Read more .
What counts as unnecessary? If you can survive without it, it is unnecessary. (That means Starbucks coffee, movie tickets: cinemas are dying: How movie theaters can ensure their survival Movie theaters are dying: How Cinemas Can Ensure Their Survival Cinemas need to offer more than just watching the latest movies.) You need to stop competing on "convenience" and focus on "experience". Here's how. Read more, Woot offers etc.) If you do I need it to survive, but there are cheaper and less luxurious alternatives, then it is unnecessary. Fast food, restaurants, designer clothing, and similar purchases are therefore considered unnecessary.
This challenge is much easier when you use a mobile finance app to track spending. Create better spending habits with these 7 Android finance apps. Create better spending habits with these 7 Android finance apps. A few lifestyle changes can significantly improve your financial situation. Here are some of the best Android apps to help you budget and plan your spending. Read more . When you actually see how much you save, you get even more motivation to keep going. It's one of the most effective ways to get out of a bad spending habit. How to Start Saving Money and Stop Spending with 4 Simple Habits How to Start Saving Money and Stop Spending with 4 Simple Habits One of the best New Year's resolutions on many people's lists is to spend less and save more. It's easier said than done, but you can still rely on several apps and tools to help you… Read More .
30-day habit-building challenges
If you've completed the 30-day no-spend challenge, or even if it seems a bit too difficult, you can try creating your own 30-day challenge. What's nice here is that these can be tailored to your individual needs.
For example, if you have a real spending problem and have absolutely no idea where all your money is going, then you will benefit from a "track every expense" challenge. Make a note of every purchase for a whole month, no matter how big or small it is.
Another challenge might be "read an article" every day – not just any article on the Internet, but one that relates to personal finance, saving, budgeting, investing or another financial topic. For this reason, we recommend you start with one of these amazing personal finance blogs. Simply Frugal: How to Learn Personal Finance The Easy Way Simply Frugal: How to Learn Personal Finance The Easy Way Do you regularly worry about bills and debt? Do you feel lost when others speak with financial languages? Here's the good news: It's never too late to learn about money. Read more .
Other ideas include the "pack lunch," "no online shopping," "cash purchases only," and "bike to work" daily challenges. They can make everything a 30-day challenge! (If you have a good one, share it in the comments below so others can tackle it too.)
Habits are obviously hard to build. For this reason, we also recommend supplementing these challenges with one of these Android apps, which are constantly evolving. Resolutions, Accomplished: 9 Android apps for building habits Resolutions: 9 Android apps for building habits Resolutions can be good for you if you actually keep them and There are many Android apps that can help you do that. Read more or any of these apps that actually make creating habits fun. 8+ Nifty apps that actually make changing habits fun 8+ Nifty apps that actually make changing habits help ease the struggle. They introduce an element that makes habit changes more bearable – perhaps even enjoyable! Read More . You will be surprised how effective these can be in the long run.
The 52-week savings challenge
If you've gotten this far and still think all of the above challenges are too hard or too demanding, you can do literally anyone, no matter how impulsive or undisciplined you are: the challenge of saving a problem tiny once a week some money.
It's really simple Here's how it works:
- Every Sunday, transfer money to a savings account.
- In week 1 you transfer $ 1.
- In week 2, transfer $2.
- Continue with the pattern.
- In week 52 you transfer $ 52.
Until the end of a year you have 1.Saved $378 effortlessly.
One temptation is to withdraw your savings from an ATM before 52 weeks have passed. Therefore, we recommend opening a savings account with one of these safe and reputable online banks. Save more money by using these 4 online banks. Save more money by using these 4 online banks Online banks often offer much better rates and perks than their brick-and-mortar counterparts. Here are four of the best options for American residents. Continue reading . Temptation is somewhat dampened when you realize that a wire transfer takes about three days to complete.
Try it out now and save money!
The ultimate goal with all of these challenges is to change your mindset about money. Instead of being careless and throwing money down the drain with every frivolous purchase, work out these challenges so you can think about money in a new and healthier way Money in a New Way Personal finance can be a scary and thought-provoking topic. Fortunately, there is a wealth of information available to help you learn. Here are some of the best TED Talks on this topic. Read more .
We hope that you will also get a new interest in personal financing as a whole. If you do, check out these wonderful personal finance resources. Here's how to get the best personal finance tips every day. Every day the best personal finance tips personal finance tips. Read more and maybe even start thinking about ways to teach your kids about finances. Here are the best ways to teach kids about finances!
Which of these challenges will you face? What is your biggest weakness when it comes to money and spending? Tell us about it in the comments below!