Welcome to the world of financial empowerment, where your financial future is within your control! If you’re a young adult looking to supercharge your savings and build a stronger financial foundation, you’re in the right place.
In this post, we’re introducing a 30-day savings challenge designed for 18-29 year olds. It’s time to take charge of your finances and set yourself up for success.
Days 1-5: The Daily Latte Challenge
Many of us indulge in a daily latte or another small treat without realizing how quickly those expenses add up. For the first 5 days, challenge yourself to make your coffee or favorite treat at home. You’ll be amazed at how much you can save by cutting out this daily expense.
Days 6-10: The Restaurant Recess Challenge
Eating out can be a significant drain on your wallet. For these 5 days, make a commitment to cook at home or bring lunch to work. It doesn’t have to be anything super fancy; it can be quick 15-30 mins meals! You’ll not only save money but also discover your hidden culinary talents.
Days 11-15: The Subscription Audit Challenge
Take a closer look at your monthly subscriptions. Do you really need them all? Consider canceling or downgrading any subscriptions that you don’t use regularly. This can free up extra cash for savings.
Days 16-20: The No-Shopping Challenge
Challenge yourself to go 5 days without any unnecessary shopping. Avoid online impulse buys and window shopping at the mall. Redirect your focus to free or low-cost activities (for ideas click here)!
Days 21-25: The Declutter and Sell Challenge
Go through your belongings and identify items you no longer need (*Marie Kondo style*). Sell them online or at a garage sale. The money you earn can go straight into your savings funds.
Days 26-30: The Goal-Setting Challenge
The final days of the challenge are about setting financial goals. Determine what you’re saving for, whether it’s an emergency fund, a vacation, or a down payment for a home. Create a realistic savings plan to achieve those goals and stick to it.
Stay tuned for more financial tips and advice on our blog to keep growing your financial knowledge and confidence!