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:

1. Get an accurate overview of your expenses
2. 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

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!

Of course you could now classify your expenses and get an exact info where most of your money goes. For example, you could sum up all your expenses for going out to eat (including the daily coffee "to go") and calculate how much you spend on this.

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

1. Create an overview of your expenses
2. Cancel all fixed contracts that you no longer need.

You can extend this challenge for another month, and in the second month you can group your "variable costs" together and get an overview of them. Get into the habit of saving on a specific expense in the future. The daily "coffee to go" is not necessary. You can also make it at home and take it with you in a reusable cup. This way you save at least 3,- EUR every day. With 20 working days, that's 60,- EUR per month, or 720,- EUR per year. With that, you can go on vacation for almost a week. So it is worth it!

Life Score Points for the One Month Budget Challenge

You get 20 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 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:

• 20 Life-Score Punkte – Eine gelbe Murmel mit einem Durchmesser von 20mm

If you want the marble(s), please read on ....

How can you participate?

• Sign up for the Timeless Challenge!
• Registriere Dich (falls noch nicht geschehen) bei dieser Seite (klick auf diesen Satz)
• Wenn Du Deine Ein- und Ausgaben einen Monat dokumentiert hast, hast Du diese Challenge geschafft.
• Wenn Du Deine Ausgaben einen Monat lang genau dokumentiert hast, dann füll bitte das untere Formular (nur sichtbar wenn Du registriert und angemeldet bist) aus. Wir schicken Dir die Murmel zu. Die Life Score Points werden Dir automatisch gutgeschrieben und im Life Museum ergänzt. Bitte schreibe Deine Lieferadresse in die „Notes“ im Formular. ACHTUNG! Wir brauchen keine Nachweise von Dir, da wir gar nicht wissen wollen welches Deine Ausgaben sind! Du machst diese Challenge für Dich, deshalb vertrauen wir Dir auch ohne Nachweise.

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

We invite you to join our Facebook group "Personality" to exchange with others.

Hashtags

• #timelesschallenge
• #tconemonthbudgetchallenge
• #timelesschallenger