I am very passionate about finding ways to build small (and therefore easy!) habits in our lives that can lead to big positive changes! One of my favorites is the MoneyFast diet! Trust me, it’s a lot easier than most of the diets you’ve heard about, because you’ll still get to you eat what you want!
The MoneyFast is one easy trick that can save you lots of money. Here’s how it works: when you’re considering making an unnecessary purchase (i.e. a big ticket item, flat screen TV, iPad, that “I’ve just got to have it” outfit, etc.), go to the store, look at the item, but instead of buying it, write down the exact item you’d like, the date you saw it, the price, and of course, don’t forget to estimate the sales tax! Then, walk right back out of the store without buying it and wait 30 days. If after those 30 days you still want to make the purchase, then you can go ahead and buy it (assuming, you know… that you’re not mortgaging your house to do it. Hey, just because I wrote down “Bentley” in my notebook doesn’t mean I can buy it just ‘cause I waited 30 days!).
Click here to download the 30 Day Money Fast!
Now, 30 days may seem like a really long time to wait, but what the MoneyFast is designed to do is to help you identify those items that you genuinely want, versus those that you would have bought on a whim just because you thought you wanted it, in the moment. Sometimes, we see something and we get excited about how great it would be to buy it. But because we’re excited about it, we’re not really thinking through all the costs and benefits. When you give yourself a little time to let the excitement settle in, you’ll make a more rational decision that’s truly right for you. I’ve used the MoneyFast myself on a regular basis, and have gotten feedback from clients who literally save hundreds of dollars every month doing this!
If you practice this on a regular basis, you will find that you’ll save more money that you can either then spend on things you really do want, or set aside for retirement! There is a lot more satisfaction when you’re not wasting your hard-earned dollars on things that you don’t even appreciate after a few days or weeks. Not to mention, when you are being selective in your spending habits, that means you are paying attention to your finances, which creates wiser and smarter overall decisions that get you to your goals faster. It’s all about setting forth the right intention about your future. Remember, starting with these small changes, you will regularly move yourself closer and closer to reaching your goals – even if they’re tiny baby steps, every step counts!