Most of us have that one category that's difficult to keep in budget. Taking 21 days to consciously cut spending in that one area can help change your habits and get your spending under control. Give it a try!
What is the ONE thing that you spend too much money on? For me, it's clothes. I love a good old-fashioned shopping trip. In fact, I have be intentional about not browsing online because clothes are my weakness. It takes great commitment and it's not perfect, but it's something I constantly work on.
I'm here to challenge you to spend less on your weakness for 21 days. By cutting out your weakness for 21 days, you'll reset your spending patterns. This can be a great way to get back on track financially -- especially if you're spending too much in one area of your life.
The rules
Choose one thing to spend less on for 21 days. Spending less means that you don't have to cut out your spending completely, but you should make a challenge for yourself. The point is to make it a positive and healthy experience.
You can give yourself "cheat days," or adjust however you need to. However, it's important to set the rules for yourself before you start. You shouldn't make exceptions during the challenge based on how you feel -- instead plan ahead. Make it fair for you so it's a positive experience.
So, here's what you need to do...
Step 1: Decide what you're going to cut down on
Think about your spending habits and decide what you want to cut down on for 21 days. Think about how this will positively impact your financial health (and help you create better spending habits).
If you don't care much for shopping, then it makes no sense to cut out shopping. On the other hand, if you regret how much you spend going out on the weekends, then cutting down your eating out budget for 21 days may be perfect for you.
Step 2: Organize your calendar for the next 21 days
Start by putting your "start date" and "end date" on your calendar to keep yourself accountable.
If you are not cutting out your spending completely, indicate when you will allow yourself a "cheat day". If you're cutting out Starbucks, then maybe every Sunday you allow yourself on Starbucks cup of coffee.
You'll also want to put on your calendar "check-in" times where you can track your progress. I suggest checking in every evening at a specific time. This will help you create a habit of reflecting on a day and holding yourself accountable.
If every day is too frequent for you, then schedule time every few days or at a minimum once a week to think about how you're progressing on the challenge.
Step 3: Start the challenge and journal your progress
Start your challenge and journal your progress on the days you've elected to reflect. By writing down your progress, you should find that you're processing the experience and truly reflecting on your progress.
Journaling is an excellent way to track how you're feeling and what you're thinking during the challenge. Additionally, you'll have these writings to look back on after the challenge is over. If you are thinking about doing another challenge in the future, your journal will be a great reminder of what the experience was like (much better than your memory).
If you want to go even further, you can create a budget journal that holds your thoughts and financial plan for more than just 21- day challenge.
Step 4: Evaluate how you did
The day after you finish your challenge, take some time to evaluate yourself. Here are some questions to get you thinking:
1. Did you succeed?
2. How did you feel in the beginning of the challenge compared to how you feel now?
3. Do you miss what you gave up?
4. How did the challenge affect your budget (do you have more money left this month)?
5. What did you learn from the challenge?
Step 5: Celebrate!
After you've completed your challenge and reflected, it's time to celebrate. You should be proud of yourself for accomplishing the challenge--tackling your weakness is no small feat.
Give yourself a reward (this is important because it will reinforce positive behavior) and congratulate yourself.
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