This month you have a good feeling. You haven't spent much, you haven't gone out to eat much and you haven't bought a new bike. But when you look at your checking account, you realize that you've hardly been able to reduce your deficit. But what is the reason for that?
It's time to know and control your spending!
How does the One Month Budget Challenge work?
The goal of the One Month Budget Challenge is to show you exactly where your money is going and how you can cut off unnecessary expenses. To do this, you have two steps to take:
- Get an accurate overview of your expenses
- Take immediate action to cut unnecessary spending
This challenge is also a part of the Timeless Challenge!
I believe that every person can change the world with their actions! Make your life through meaningful actions (challenges) to something special and lasting! Make yourself immortal!
We want to plant one million trees worldwide without begging for donations!
Uwe Kauntz
A new challenge every Monday! Stay informed!
- Instagram: @timeless_challenge
- Facebook: Rockyourgoal
- Twitter: @goal_rock
How to get an overview of your expenses
To better control and reduce your expenses, you need to know them. To do this, you need to track your expenses for at least one month (we recommend three months). How do you do that? With a good old budget book in which you enter every expense for a month.
Sounds boring? Good, then use one of the many good apps. You can track your spending, get great statistics and know your current wealth reliably at any time.
How to reduce your expenses
Once you have a list of all your monthly expenses, the first step is to look at all your fixed expenses. These are expenses that come due every month. These can be recurring expenses like the Netflix subscription, a loan installment, an insurance policy, dues for a sports club, etc.
Now question each individual item to see if you really still need it or if you can cancel this contract. Every year I find contracts that I no longer need and cancel them immediately. Even if it is only a small, 5-EUR contract per month, I avoid future expenses of 60,- EUR per year. Something like that adds up!
Natürlich könntest Du nun Deine Ausgaben klassifizieren und damit eine genaue Info bekommen wohin das meiste, Deines Geldes fließt. Du könntest z.B. alle Ausgaben für externes Essen gehen summieren (einschließlich des täglichen Kaffe „To Go“) und berechnen wie hoch deine Ausgaben hierfür sind.
This way you will quickly get an overview of the reasons for your current financial situation.
For the Challenge, this means that for one month (30 days) you can
- Create an overview of your expenses
- Cancel all fixed contracts that you no longer need.
Du kannst diese Challenge noch einen Monat verlängern und im zweiten Monat vor allem die „variablen Kosten“ in Gruppen zusammenfasst und Dir dort einen Überblick verschaffst. Gewöhn dir an, bei einer konkreten Ausgabe zukünftig zu sparen. Der tägliche „Coffee to Go“ ist nicht nötig. Du kannst ihn auch zu Hause machen und ihn in einem Mehrwegbecher mitnehmen. So sparst Du täglich mindestens 3,- EUR. Bei 20 Arbeitstagen sind das 60,- EUR pro Monat, also 720,- EUR pro Jahr. Damit kann man schon fast eine Woche in den Urlaub fahren. Es lohnt sich also!
Life Score Points for the One Month Budget Challenge
You get 50 Life Score points if you keep track of your spending for a month and take concrete action. You can do this three times a year and earn three Life Score points.
Murmel(n) für die „One Month Budget“ Challenge
For the One Month Budget Challenge, you can get the beautiful marble(s) in yellow. These have the following size:
- 500 Life Score Points - One yellow marble with a diameter of 20mm
If you want the marble(s), please read on ....
How can you participate?
When you have documented your income and expenses for a month, please fill out the form below again, but this time with the message that you have completed the challenge. We will send you the well-deserved Life Score points and the marble.
IMPORTANT NOTE!!! We do not want any information about the contents of your documentation! You do this only for yourself!
The One Month Budget Challenge on social media
If you want to inspire others, or share with others, feel free to do so on our social media channels.
The One Month Challenge on Facebook
Wir laden Dich herzlich ein, Dich in unserer Facebook Gruppe „Personality“ mit anderen auszutauschen.
- #timelesschallenge
- #tconemonthbudgetchallenge