Easy Ways To Save Money: Financial Fast Challenge

The last post about the “Financial Fast Challenge” showed you how to prepare for the challenge by building a bare bones budget, defining your goals, and figuring out how you will keep yourself accountable. This post will show you fun tips to help you successfully complete the challenge.

As mentioned in the last post, this financial fast challenge does not have to make you miserable. Instead, it should help you save money, build better money habits and find more ways to be creative with your money. However, I know this challenge can be hard if you are not used to living on a bare bones budget. I’ve taken the liberty to write down how you can save more money while still having fun:

1. Cook Your Food:

If you already like cooking this should be easy. You can play with different styles of cooking and experiment with different recipes. Eating from home predominantly this month will save you a lot of money. It’s also much healthier than eating out. If you’re not used to cooking at home, challenging yourself to cook your own food this month will be a great way for you to build new habits and it will also make you feel good! If you have a demanding job/ busy life and no time to spare you could prepare for each week by doing your meal preparation over the weekend.

2. Do It Yourself:

Instead of paying people to do simple chores around your house or paying them for simple services you could save money doing it yourself. Find 2 or 3 things that you pay people to do for you each month and DIY. Not only will this save you money, you will get craftier and learn more skills. For example, you can try doing your own mani/ pedi at home this month instead of going to the nail store. However, not everything is worth DIY-ing everything. For example, if you are clueless about how to cut your hair, please step away from the scissors and go to a salon.

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3. Find Free Entertainment:  

I live for fun, free entertainment! I attend a lot of networking events and specifically seek those that have free food and other freebies. (Yes, networking events tend to be fun to me.) You could check out interesting parks and museums in your city for free. You could also attend free movie screenings in parks and organize picnics or potlucks with friends.

If you live in Toronto, here are 30 things to do for (almost) free.

4. Shop Your Home:

Chances are that you have a lot of stuff in your closet, basement and probably even your garage that you have never used or even forgot you bought. This month you should shop your home to rediscover all these items that you had forgotten about. This will prevent you from spending money on items you already have.

5. Clear Out Your Closet:

There are probably a lot of items in your home that are of little value to you because it doesn’t fit, or you’re just sick of it, or in my case, because you could never walk in the shoes but you bought them anyway because they were pretty. This month clear out your closet by selling (or gifting) items that you have not worn in a while.

You can use any of the marketplaces online to sell your items. Some popular sites are Depop, Etsy, eBay, and Kijiji. You can also make a fun day out of it and host a clothes swap with your like-minded friends.

Which one of these would you be doing during this #FinancialFastChallenge?

 

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Written By

Chinazom Chidolue is a personal finance blogger and an accountant. Growing up in a household with entrepreneurial parents, she developed a keen interest in business and finances. Chinazom combined her background in accounting and her passion for financial literacy and founded Investment Conversations: a personal finance blog which was created to help millennials take control of their personal finances by breaking down complex money topics into easily understandable and fun concepts.

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