Summary
A Supercharged Spending Spreadsheet is used to track all the money that you have saved from the various cost-savings initiatives that you have participated in; such as the 7 day grocery challenge and the reverse budget.
The goal is to put the money that you have saved from your cost-cutting initiatives into a savings account, and then, use the money to fund your life's goals such as buying a home, purchasing a car, or saving for your dream vacation, to name just few things.
The Supercharged spending spreadsheet lets you track all the money that you have saved, and also lets you begin saving for things you plan on buying. One tip that I recommend is to forego spending money on any item that surpasses a certain dollar figure (i.e. anything over $100), and to hold off from spending money on these items for 30 days.
Instead, place the equivalent of the amount you had planned on spending into a high-interest savings account, and then revisit the question of whether or not to purchase the specified item in 30 days. If you still want to buy the item, then you have the funds set aside in a savings account to complete the purchase. Otherwise, leave the money in the account, and watch your savings grow. When the time is right, you can use your savings to accomplish your goals (i.e. dream vacation, purchase a car, pay off your mortgage, fund an education account etc.). Your options are limitless!
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Thank you!
Adeola Omole
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