Save $5,000 in 3 Months?! (4 Easy Money Challenges to Try)

[Music] so I've been in the personal finance industry for well over a decade now and I know one thing for sure the people who have the most success when it comes to money are the ones who fully commit to a process even if it's for a season so today I'm going to share with you four money challenges that you can start today to save hundreds of dollars very quickly and spoiler alerts the last one is guaranteed to save you over $5,000 in just 3 months so stay tuned and first make sure to subscribe to the channel and share this episode with a friends all right the first challenge is the minimalist challenge so this came from the minimalists and they talked about this in their documentary and it was so good because it was so helpful to me and I actually did this one and so what you do is you throw away donate give away what whatever you want to do get rid of basically an item in your house but it has to correlate with the date of the month so let's say it's April 15th well you need to get rid of 15 items and you can do this with different categories like you could say just like for my pantry or for my closet um or my bathroom right all the stuff that we have in our drawers like whatever it is areas of your house or it could just be your whole house but doing this it was incredible you guys I mean seriously but you get to like day 25 and you've been doing it all month you're like find 25 more items now but it forces you into a system just to like Purge and get rid of stuff and again you can even sell some of your stuff and make money so for instance you can make an extra like 300 bucks by selling a designer bag on Poshmark that you haven't worn or maybe an extra $500 for selling a sofa that you never use or hundred or $1,000 for electronics like the range is endless the items are endless but it is a great way to make some money now again it can be very difficult when I was getting to the end of mine I like would find a bobby pin and like throw it away CU I was like oh my gosh I don't know if I have any more items but again it really just kind of cleans up your life gets the junk out you can make some money you can toss some stuff you can give some stuff away but it's great the minimalist challenge I love number two is the consumption challenge so you only consume what you already have this item before you buy more of the next now we are all kind of guilty of this or I know I am it's like oh a lotion I'll buy a new lotion or I'll buy more shampoo or candles or paper towels when I don't need to because I still have all these products so the idea is getting rid of everything first and then going and buying what you need and when you pause kind of like the Target or the homegood section of your budget you really could save anywhere from $50 to $200 a month by not restocking items before you've used them so I am guilty of this shampoo is a big one for me I keep shampoo around uh cuz I'll switch it uptime s lotions like all that beauty stuff I'm like oh my gosh so I try to get rid of everything and then go and buy it number three is the no spend challenge so this one's pretty self-explanatory but you basically spend no money throughout a month except for Essentials so no eating out no shopping no excessive subscriptions like you literally cut everything back and what we have found is even just eating out the average person can save $2 to $300 a month and if you took out a lot of the streaming services you could save close to $100 a month if you do all of that so it this is a hard one and I've done this one before as well but again you say yes you're going to like pay for your water and pay for food and all of it but it's the extra stuff the non-essentials and I realize for me how often I just went to Amazon I was like oh we need this I'll buy this I'll buy this I'll buy this and we don't really need it it'd be nice to have but we didn't need it and so you do end up saving so much money now while you're cleaning up your budget you should also think about cleaning up your digital Footprints because we all have a digital Footprints in today's world we spend so much of our time online and so much of our life is online and we end up putting our information out there and what's so hard is that people companies take our information and sell it to other companies and we don't want that do we they're making money off of us and then we end up getting scamed we end up getting all these like emails that we're not asking for all this junk stuff and you're like oh my gosh so getting rid of your information online is so important that's why I love and use delete me because they go in and they remove your information from data broker websites that again try to sell Buy trade your information and they get rid of it get rid of your information they've saved me over 30 hours of doing this and they are incredible and you can save up to 20% off a plan today just go to join delate me.com SL Rachel the next challenge is the 100 envelope challenge now this is where you take a 100 envelopes okay you label them 1 2 3 4 5 6 all the way up to 100 and every day you pick an envelope and whatever number is on that envelope you put that number of cash of dollars in the envelope so you pick up 25 you put $25 in you pick up 72 you got to put $72 in there you do that every single day so it takes about three months but over all of that all that time all that money it accumulates to over $5,000 a lot of my co-workers have done this one and and it's great because it's a little bit of a game and it forces you into a system and it forces you to put money aside and so if you're interested in this I'll put Ramsay stepbystep article on how to do this one specifically down below but what I love about all of these is again it it just kind of gives you the system to live in that it feels different there's going to be some change you may be a little uncomfortable it may not be fun all the time but it allows you to free up your life these money challenges I really do like but let's be real some of these challenges take weeks if not months and sometimes you need to find money fast so for a quick savings win make sure to check out my 24-hour Money Finder challenge this is a great tool that really takes account all of your spending all the big ticket items in life and helps you find up to $400 of margin that you didn't know you had so I'll leave a link down below for you to start saving today but you can also check out my episode where I walk you through the 24-hour Money Finder you can click right there or I'll put a link in the show notes if you're listening on podcast all right you guys remember to take control of your money and create a life you love

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