The Twenty Dollar Bill Challenge
Are you having trouble saving your money? Every time you think you are doing a good job of building your nest egg a birthday, family trip or car trouble throws you off your savings game plan. Well let me introduce you to the $20 bill challenge.
The purpose of this excersice isn't to teach how become a personal finance guru. It is simply a challenge to get you back on your savings track.
Take your debit/credit/ATM card out of your wallet. You won't be needing it.
Go to your bank and withdraw a $20 bill.
You have just now restricted access to your money and set an indefinite budget 20 bucks for your self. How long can you go? Will you have to say "no" to things you normally say "yes" to? It's time to get creative. Prep your lunches. Is your initial 20 bucks getting short? Don't quit. Sell some unused home goods or or pick up an extra babysitting gig on the weekend.
Once you have spent all of your twenty dollars and have no choice but to use your primary funds, sit down and annotate how you did. Write down how many days your challenge lasted. Ask yourself how you could do better next time. Calculate how much money you DIDN'T spend if you wouldnt have started the challenge. This should get you back on your saving track!