DON'T BUY THAT!
So many people ask me "how were you able to pay off such a large amount of debt in such a short period of time?" There were many strategies that I used, but until recently I didn't realize how one strategy really affected the final outcome. It was a strategy that kept more money in my pocket each week.
I would have certain days that I would spend no money. Yes you read that correctly. I did not spend money on anything. The gas station, the movie theater, the cleaners, and so on did not see a dime from me. I got to the point that I started calling the days my "no spending days". I share with people today in my books and courses the importance of having "no spending days".
No spending days should be two days of your choice each and every week that you don't spend any money. You don't go out to eat at lunch, you don't buy clothes online, you don't buy gas, etc. These two days you are saving money that can be used to pay off your debt. I am sure you are wondering how much can I really save by doing this?
A lot! Until recently I had not noticed how easy it was for my family and I to spend money in one day. I was preparing for an important conference the other week which means I was working non-stop. I did not have time to cook or really do anything outside of work. One day I found myself buying breakfast at Starbucks $7, working for a few hours then buying lunch for my daughter and I from two fast food restaurants $10 and then dinner for the entire family. I spent at least $30 that day on food!
That $30 does not include any shopping I may have done for school clothes or gas I may have bought to get around for the week. There are days that many of us spend $100 without hesitation. No spending days will help to stop the money train in its' tracks so that you are able to hold on to more of your money. We can not get out of debt or build wealth if we are constantly giving our money to other people. If you want to have more money at the end of every week decide today what two days are going to be your "no spending days!"
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