February is all about of love and relationships. So naturally, this month we’re going to focus on our relationship… with money. More specifically, Johnny and I are going to try to focus on changing our financial mindset in the month of February, and we’d like to invite you to join us!
The single most important aspect to having financial success is changing the way you think about money. Sure, spending $10 more than you budgeted for that Full House DVD Box Set probably won’t break the bank, BUT you’re setting a terrible precedent with your money mentality. Also, you’re awesome for buying Full House DVDs. It’s hard to progress on the road to financial independence (debt, retirement, whatever “independence” means to you) when you let your mind rationalize budget overages.
So back to our invitation. Here’s the deal: pick one category of your budget to spend less on this month. But remember, it’s not so much about the money saved as it is about exerting financial control. Make a budget category bow to its sensei (you) this month and show it who’s boss.
We’re going to focus on our Electricity category. Johnny’s been wanting to tackle this category for a couple months just to see how much we can save by making a more conscious effort. Our electric bill is consistently about $65 each month, and in February we’re going to try to bring it down to $50. So $15 saved… no big deal, right? Wrong!!! Being more aware and purposeful with every single dime spent is a very big deal. It’s all a mindset.
So who’s with us?! Pick one category in your budget that you want to spend less on this month. It could be grocery, eating out, clothing, etc. Then leave a comment telling us what category you chose and how much you’d like to save. Then at the end of the month we can all meet back up and share how we did.
And since this is the month of love, we’d like to open our cold, money greedy hearts and show a little love to you. So just for participating, one challenge participant will receive a $25 Amazon gift card! And while there might only be one gift card winner, you’ll be a winner for saving some extra green this month by completing the challenge.
And are you a gambling (wo)man? If so, shame on you. But also, you might be able to double your chances of winning by liking us on Facebook. But we don’t condone gambling. Unless we win. Then it’s ok.
Oh, and one final, very important stipulation for the guys. The only category you’re NOT allowed to pick to save on this month is gifts for your wife. Trust me. This is for your own good.
Okay, ready? Let’s hear ’em!