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...
In this weeks blog I discuss the Grocery Challenge. The Grocery Challenge entails the following:
1) You do your groceries on your normal predetermined grocery day;
2) You complete a meal plan for the entire week, and make sure to buy the required grocery items for those meals;
3) Then, for the next 7 days, you don't spend any additional money on groceries;
4) You can build in 2 to 3 items that you allow yourself to buy in the event that you run out of those staple items (i.e. bread, milk, eggs, butter etc.). Life happens, and this step allows you to plan for the unexpected things that arise;
5) After the 7 day challenge, you should feel empowered, and will hopefully feel inspired to extend the challenge to the next following week, and onward.
This challenge forces you to spend consciously, and also makes you spend money in a more intentional fashion! It has saved me a lot of money, and I hope it saves you money too!
If you like this information, please...
A reverse budget requires you to review the past two to three months worth of credit card and bank statements to figure out what you have spent in the last few months.
It helps you target your problem areas, which, in turn lets you:
#1 Apply Money towards your debt repayment.
#2 Start Saving Money by not buying things associated with your problem area; and by putting money towards savings.
#3 Hone in Your Spending on the problem areas, which results in you having more money to put towards your goals.
If you like this information, please Subscribe to my Blog, and let me know what other type of information you would like me to discuss in future posts. Thank you!