No Cash, No Credit, No Automatic Debit

What a Day Without Spending Any Money Can Teach You


If you were anything like me this holiday season, you’ve been mindlessly indulging in endless feasts, sweets and wine.  And with 2010 hours away, you’re finding yourself obsessing about how you’re not going to eat for a week in hopes to lose the holiday chub before you start your real diet… Sound familiar?  Well, what about giving the same amount of thought and effort to jumpstarting your new Fab & Fru spending habits and savings plan?

Even if you consciously cut back on your gift giving budget this year, it would be almost inhuman of you if you didn’t overindulge just a little more than planned- at least sometime over the holidays.  Why not start the New Year off on the right foot, and instead of (or along with) eliminating Carbs come Monday, take a day off from spending ANY money! Wake up and learn just how much you depend on the green for everyday existence and how often you actually go to make a purchase without even being fully aware of your actions…

no-money300x300jpgThe Purpose of a Money Fast

By dedicating 24 hours to NOT spending any money, you can allow yourself a thoughtful day focusing on your financial future and becoming more in tune with your spending habits.  The more aware you are, the more control you will have over your spending and your savings.

Best Day to Money Fast

To get the most out of this exercise, pick a non working day when you don’t have too many commitments outside the house.  And don’t pick the day you’re planning to pay your bills!

The Essentials Only

Do make sure that you have some basic groceries in the house and gas in the car before you start your Money Fast.  This exercise is supposed to help bring you self-awareness not to intentionally torture you or put you in harms way!

readng-a-book-under-a-tree Enlist Support from Friends & Family!

By far the hardest part of a Money Fast is dealing with free-spending friends and family. Let them know what you’re doing and why and make sure you have their support.  How else can you dodge the last minute invitation to go out for drinks or the temptation to go for pizza with the neighbors when your little one throws a fit about how he doesn’t want to eat steamed broccoli and carrots?  –Warning! This does not mean that you can use someone else to buy things for you or drop by with ‘a gift’.  There’s no need to cheat- it’s just one day- FIGURE IT OUT!

Record Your Progress

Every time a need or an impulse that costs you money arises, jot it down in a notebook. Divide your list between essentials and perks, and at the end of the day tally up each column.  How much did you save? Are there any costly habits that if you stopped or at least cut in half, would save you a bundle?  How much can you save by simply becoming more conscious of your impulse buys?   –You may just surprise yourself!

Other Fab & Fru Activities To Do During Your Money Fast

-Write Down Your Financial Goals for the Year & How You Will Achieve Them

-Create a Monthly Budget (including a Savings Plan)

-Clean Your Closet

-Restock Your Freezer with Homemade Meals (using what you’ve got in the kitchen)

-Organize Your Bills & Paperwork

-Automate Your Bills Online (Do the set up, but don’t pay today)

-Write an Old Fashion Letter to a Friend

-Read a Book!

Cleansing is a common yet fantastic way to clear your mind, focus your intentions and start the New Year off in a positive direction.  So this year while you’re trying to trim your waistline, why not tighten your belt and get a grip on your finances too!

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Any Thoughts?