The Rachel Cruze Show - Save $5,000 in 3 Months?! (4 Easy Money Challenges to Try)

Starting point is 00:00:05 So I've been in the personal finance industry for well over a decade now, and I know one thing for sure. The people who have the most success when it comes to money are the ones who fully commit to a process, even if it's for a season. So today I'm going to share with you four money challenges that you can start today to save hundreds of dollars very quickly. And spoiler alerts, the last one is guaranteed to save you over $5,000 in just three months. So stay tuned. and first make sure to subscribe to the channel and share this episode with a friend. All right. The first challenge is the minimalist challenge.

Starting point is 00:00:43 So this came from the minimalists, and they talked about this in their documentary, and it was so good because it was so helpful to me, and I actually did this one. And so what you do is you throw away, donate, give away, whatever you want to do, get rid of, basically, an item in your house. but it has to correlate with the date of the month. So let's say it's April 15th. Well, you need to get rid of 15 items. And you can do this with different categories, like you could say just like for my pantry or for my closet or my bathroom, right?

Starting point is 00:01:20 All this stuff that we have in our drawers. Like whatever it is, areas of your house or it could just be your whole house. But doing this, it was incredible, you guys. I mean, seriously, but you get to like day 25 and you've been doing it all month. You're like, I find 25 more items now. but it forces you into a system just to like purge and get rid of stuff.

Starting point is 00:01:37 And again, you can even sell some of your stuff and make money. So, for instance, you can make an extra like 300 bucks by selling a designer bag on Poshmark that you haven't worn or maybe an extra $500 for selling a sofa that you never use or $100 or $1,000 for electronics. Like the range is endless. The items are endless, but it is a great way to make some money. Now, again, it can be very difficult when I was getting to the end of mine. and I would find a bobby pen and, like, throw it away.

Starting point is 00:02:05 Because I was like, oh my gosh, I don't know if I have any more items. But again, it really just kind of cleans up your life, gets the junk out. You can make some money. You can toss some stuff. You can give some stuff away. But it's great. The minimalist challenge I love. Number two is the consumption challenge.

Starting point is 00:02:18 So you only consume what you already have this item before you buy more of the next. Now, we are all kind of guilty of this. Or I know I am. It's like, oh, a lotion. I'll buy a new lotion. Or I'll buy more shampoo or candles or paper towels. when I don't need to because I still have all these products. So the idea is getting rid of everything first and then going and buying what you need.

Starting point is 00:02:42 And when you pause kind of like the target or the home goods section of your budget, you really could save anywhere from $50 to $200 a month by not restocking items before you've used them. So I am guilty of this. Shampoo is a big one for me. I keep shampoo around because I'll switch it up sometimes. lotions, like all that beauty stuff. I'm like, oh my gosh. So I try to get rid of everything and then go and buy it. Number three is the no spend challenge. So this one's pretty self-explanatory, but you basically spend no money throughout a month except for essentials. So no eating out,

Starting point is 00:03:15 no shopping, no excessive subscriptions. Like you literally cut everything back. And what we have found is even just eating out, the average person can save $2 to $300 a month. And if you took out a lot of the streaming services. I mean, you could save close to $100 a month if you do all of that. So this is a hard one, and I've done this one before as well. But again, you say, yes, you're going to like pay for your water and pay for food and all of it. But it's the extra stuff, the non-essentials. And I realize for me how often I just went to Amazon, I was like, oh, we need this, I'll buy this, I'll buy this, I'll buy this, I'll buy this. And we don't really need it. It'd be nice to have, but we didn't need it. And so you do end up saving so much money.

Starting point is 00:03:56 Now, while you're cleaning up your budget, you should also thinking about cleaning up your digital footprints because we all have a digital footprint in today's world. We spend so much of our time online and so much of our life is online and we end up putting our information out there. And what's so hard is that people, companies, take our information and sell it to other companies. And we don't want that. Do we? They're making money off of us. And then we end up getting scams. We end up getting all these like emails that we're not asking. for all this junk stuff and you're like oh my gosh so getting rid of your information online is so important

Starting point is 00:04:31 that's why i love and use delete me because they go in and they remove your information from data broker websites that again try to sell buy trade your information and they get rid of it get rid of your information they've saved me over 30 hours of doing this and they are incredible and you can save up to 20% off a plan today just go to join delete me dot com slash rachel the next challenge is the 100 envelope challenge. Now this is where you take 100 envelopes, okay? You label them. One, two, three, four, five, six,

Starting point is 00:05:04 all the way up to 100. And every day, you pick an envelope and whatever numbers on that envelope, you put that number of cash, of dollars, in the envelope. So you pick up 25, you put $25 in. You pick up 72. You got to put $72 in there.

Starting point is 00:05:23 And you do that every single day. so it takes about three months, but over all of that, all that time, all that money, it accumulates to over $5,000. A lot of my coworkers have done this one, and it's great because it's a little bit of a game and it forces you into a system, and it forces you to put money aside. And so if you're interested in this, I'll put Ramsey's step-by-step article on how to do this one specifically down below. But what I love about all of these is, again, it just kind of gives you the system to live in

Starting point is 00:05:54 that it feels different. There's going to be some change. You may be a little uncomfortable. It may not be fun all the time, but it allows you to free up your life. So these money challenges I really do like. But let's be real. Some of these challenges take weeks, if not months,

Starting point is 00:06:07 and sometimes you need to find money fast. So for a quick savings win, make sure to check out my 24-hour money finder challenge. This is a great tool that really takes account, all of your spending, all the big ticket items in life, and helps you find up to $400 of margin that you didn't know you had.

Starting point is 00:06:24 So I'll leave a link down below for you to start saving today. But you can also check out my episode where I walk you through the 24-hour money finder. You can click right there or I'll put a link in the show notes if you're listening on podcast. All right, you guys, remember to take control of your money and create a life you love.

The Rachel Cruze Show - Save $5,000 in 3 Months?! (4 Easy Money Challenges to Try)

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