Week 4: Finding Your Limits
This is the last week! But before we start talking about it, let’s look at your past week. How did it go? Were you able to stay within your budget or did you end up touching another bucket? More importantly, did you do last week’s challenge of learning from your friends and colleagues? Do you have an idea as to what skills you need to improve in order to launch yourself to the next level?
If you haven’t and you’re feeling stressed, remember what we talked about on the first day:
Progress beats perfect. Every. Single. Time.
So just focus on taking it one step at a time. Cut back on one thing at a time. Reach out to one person at a time. And before you know it, you’re well on your way.
Finding Your Limits
This is the final week and the topic for this week is for us to see if we can find your financial limits and see if we can stretch it a little more.
What do I mean? I mean that we’re going to limit our spending as much as possible for us to understand where our limits are. This is a really good exercise because that way we know what we need to do if we ever need to increase the amount of money we have all of a sudden (say some sort of medical bill, or something happened to your car etc).
How to find your limits
The best way to do this is to first cut off the 3 extra buckets that used to be savings. Then it will be to cut off as much as your fun as possible (but if you already have plans made from previous weeks, stick to it). By suddenly cutting those 4 buckets to zero, you have already saved 40% of your money. A really good amount of money by its own but we’re not done yet.
We way to see if you can get our savings up to 50 or even 60%. The google sheet is already set for you to save 50% of your weekly budget. If you’ve been using cash to make all your purchases the last 3 weeks, I’m sure you have a few ideas as to how you can reduce your spending this week.
Be sure to check out the group to get advice on how to reduce your expenses!
And remember, Progress beats perfection.
- Do not spend any money on anything but your daily needs.
- If you already had plans made from a previous week, then continue with those plans but still include those expenses in the tracker
- FInd a way to meet your needs with the budget given (bonus points if you can reduce that even more!)