The One Month Challenge
Improving Your Finances Through Increased Self‐Awareness
Let's be frank: most people don't know where their paychecks go. Between the hustle and bustle of day‐to‐day life and the urgent rush of unexpected bills, it can be truly challenging to keep a close eye on every expenditure.
One of the best ways of countering this problem? Try taking the "one month challenge." This concept, which became a popular internet trend in 2013, consists of spending 30 consecutive days writing down each and every expense that you undertake. The best way of describing this process? "Painfully Insightful."
Those who take the 30 day challenge are bound to discover a few frustrating spending habits ‐‐ which can be a bit disheartening. But identifying your personal trouble points is an important first step toward improving your life.
For those with regular access to a computer, we recommend utilizing Microsoft Excel or Google Spreadsheets in order to track your expenses. Not only will this make categorizing and analyzing your habits easier, it will also enable you to practice working with one of the most important and ubiquitous pieces of productivity software in the world, imparting you with a new and valuable skill. You can learn the basics of Excel and Spreadsheets by following this link.
Another resource you may wish to check out: though everyone's results will vary based upon personal factors, here is a list detailing a few of the most common areas that most Americans overspend on.
For many people, learning a bit more about their own habits is the perfect starting point to construct a more financially prosperous future. However, if your debt has reached a point where budget changes seem to be an insufficient way of making a difference, then you may need professional debt relief services. In this case, we encourage you to reach out and contact Madison Monroe and Associates online today!