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How to Save a Bunch of Money Easily With This Simple Challenge

How to Save a Bunch of Money Easily With This Simple Challenge

Do you find it hard to save money? If so, you’re not alone. A recent survey found that 62% of Americans have under $1000 in savings.[1] This can be disconcerting when we think about the future – buying a house, car, or even much-needed holidays – our desire to be successful in saving money is important to our peace of mind and security. But could there be a simple and easy way to encourage our saving habits?

Video Summary

What is the 52-Week Money Challenge?

A new concept has become increasingly popular that does just that – the 52-week money challenge.

The idea is to focus on each week, starting small, and gradually building up the amount of money you save. It’s not only consistent, but it takes away the pressure of taking big chunks of income each month which, let’s face it, never feels great. Intrigued? This is how it works.

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You start by saving just $1 in week 1. The next week it’s $2, the third week it’s $3 and so on. The idea is that by week 52 when you’ve saved $52 in that weekly period, you will have amassed $1,378.

What Are the Pros and Cons?

The best thing about this 52-week money challenge is anyone can do it. It’s doable and you can adapt it to your needs.

For example, you can reverse the process by saving $52 in week 1 and working backwards. This is particularly beneficial for people worried about having to put away $52 during the end of the year holidays.

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You could even mix the amounts up according to how much or how little you have each week, making smaller contributions when the purse strings are tighter or choose a higher amount when you can afford more. Either way, it’s a solid, simple way to save up a sizeable chunk.

There are potential cons to this challenge. One is that it can be hard if you’re used to handing over your debit card instead of using cash. But setting up a bank transfer could help here.

Want to Try the 52-Week Money Challenge? Here’s How to Get Started

Whether it’s saving for a holiday, putting more towards your mortgage or other monthly or yearly bills, starting this challenge will get you motivated to putting aside those all-important dollars.

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Write It Out

Write out (or print out) a list of each week and the amount to save. Having it as a reference will allow you to see your progress. Cross off each week or each amount you’ve managed to achieve.

Set Up Reminders

Once you’ve reached a few weeks it can be easy to start forgetting to put your money aside. Make sure you set up a weekly reminder on your phone or desktop to help you keep on top of it. Keep the cash jar in a place where you can see it and will serve as a reminder. Alternatively, set up an automatic bank transfer so you don’t have to think about it at all.

Make a List of Ways You Can Save

There are literally hundreds of ways you can save dollars here and there. The first weeks will be easy but as it progresses, finding ways to tuck away $40 or more can get tricky but it’s not impossible.

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Think of ways to cut back or generate money – these could include:

  • Selling unwanted items
  • Making gifts for people instead of buying
  • Switching off your heating for longer periods
  • Car sharing to save petrol
  • Walking instead of driving
  • Negotiating a better contract for your phone, heating or water supply
  • Switching off unneeded lights
  • Cooking big meals and freezing them for future meals
  • Looking for deals or discounts at your grocery store
  • Choosing shop brands over big brands
  • Making your lunch instead of buying it

Once you have a list of practical ways you can save, estimate how much money could could potentially save for each one. For example, buying lunch every day could cost $5-10 so ultimately saving you around $30 a week if you made your lunch instead.

Be Competitive

Why not turn this challenge into one with your friends or spouse? Having someone there to motivate you will spur you on and keep you on track. Have an incentive going like the person who saves the most money gets to choose the next big vacation.

Every Little Helps

The main importance of the 52-week money challenge is that it’s encouraging you to save. If 62% of Americans are not regularly saving then it shows that anything that’s getting you to put a few dollars aside every week is better than not saving at all.

Remember, it’s the small steps that lead to the big progression. Don’t feel discouraged if you can’t fulfil an amount in a particular week, just know that your willingness to put a strategy in place is good enough. Keep a positive mindset and see how it’ll reflect the money you’ll ultimately save in a year.

Reference

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Jenny Marchal

A passionate writer who loves sharing about positive psychology.

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Last Updated on December 9, 2019

7 Techniques to Stay Focused and Avoid Distractions

7 Techniques to Stay Focused and Avoid Distractions

The world has become a very distracting place, you don’t need me to tell you that. Where once we could walk out of our house or office and disappear into our own world with our own thoughts, we are now connected 24 hours a day to a network that’s sole purpose is to make us available to anyone and everyone at any time they choose to disturb us.

Of course, it is very easy to sit here and say all you have to do is turn off your electronic devices and just allow yourself several hours of quiet solitude; but the reality is far harder than that. There is an expectation that we are available for anyone whenever they want us.

However, if you do want to elevate yourself and perform at your best every day, to produce work of a higher quality than anyone expects and to regain control over what you do and when you will need to regain some control over your time, so you can focus on producing work that matters to you…

The good news: You do not have to become a recluse. All you need are a few simple strategies that will allow you enough flexibility in your day to stay focused to do the work that matters and still allow you to deal with other people’s crises and dramas.

Here are 7 ways you can stay focused and be less distracted.

1. Find out When You Are at Your Most Focused

According to research, brilliantly documented by Daniel Pink in his latest book, When: The Scientific Secrets of Perfect Timing, our brains have a limited capacity to stay focused each day.[1]

From the moment we wake up to the time we turn in for the day, we are using up our brain’s limited energy resources and, depending on the time of day, we will be moving between strong concentration and low concentration.

This means that for most people, their optimum time for sustained concentration and focus will be soon after they wake up. For others, it could be later in the evening—a kind of second wind—but that is rare.

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Once you understand this, you can take time to learn when you are at your best and to protect that time on your calendar as much as possible. If you can, block it off and use that time for the work you need to do that requires the most concentration each day.

2. Get Comfortable Using ‘Do Not Disturb’ Mode

We have the ability to switch our electronic devices to do not disturb mode. Where all notifications are off and your phone or computer will not alert you to a new email or message.

Now after testing this function for a number of years, I can happily report that it does work.

When I sat down to write this article, I put all my electronic devices to do not disturb, closed down my email and began writing. I am safe in the knowledge that until this article is written, and I turn do not disturb off, there will be no interruptions or distractions.

Of course, it is not really about whether do not disturb works or not, it is whether you are willing to turn it on or not.

Most people believe they have to be constantly available for their boss or customers. This is not true at all. What has happened is because of your always available status, you have conditioned these people to turn to you first whenever they have a problem.

You are not actually helping them at all. You are preventing them from having to think for themselves and develop the skill of problem-solving. By not being so readily available, you help them a lot more.

What it comes down to is your boss and customers are going to be far more positive with you, if you deliver your work to the highest quality and on time than you being available 24/7. Trust me on that. I also tested that one.

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3. Schedule Focus Time Every Day

This technique is a lot easier than you may think.

First, you figure out when you are least likely to be disturbed. For me, that is between 6 and 9 am. for a lot of my clients, they find the first 90 minutes in the morning at their workplace is when they are not likely to be disturbed. This is important because you want to be building consistency.

Most people start their day by checking their email and other messages. While they are doing that, they are not going to be bothering you. Now there is no rule about when you should be checking your email. The chances are email is not going to be where you want to spend your most focused time, so you can decide to check your email at say 10:30 am.

Dedicate 30 minutes from 10:30 am to 11:00 am for email processing and use the first 90 minutes of your day for doing your most important work. You will surprise yourself by how much work you get done in that ninety minutes.

4. Plan Your Day the Night Before

One of the inevitabilities of life is there is always a plan for the day. The choice is whether the plan you have is a plan of your own making or not. If you don’t have a plan, then the day will take control of you. Other people’s priorities, urgencies and dramas will fill your day. As the late Jim Rohn said:

“Either you run the day or the day runs you.”

If you take control and make it a habit to plan out what you want to accomplish the next day before you go to bed, you will find yourself staying more focused on your work and be less likely disturbed.

Now when I say plan your day the night before, I do not mean you need to spend an hour or so planning and mapping out every minute of the day. Planning your day should only take you around 10 to 15 minutes and you only need to decide what 10 things you want to complete — 2 “must do” objective tasks and 8 “would like to do” tasks. What I call the 2+8 Prioritisation Technique:

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Do not be tempted to go beyond 10 tasks for the day. When you do that, you do not have enough flexibility in your day to handle crises and other unknown issues that will pop up throughout the day.

When you do not build in flexibility, you will soon stop planning your day. Only plan tasks that will have the biggest positive impact on your work and projects.

5. Learn to Say “No”

I am sure you’ve been told this before. We are wired to please and this results in us wanting to say yes to every opportunity that comes our way. The problem is we cannot do everything and every time you say “yes” to one opportunity, you are saying “no” to another opportunity. You cannot be in two places at the same time.

Jay Shetty shared an inspiring video on JOMO “Joy Of Missing Out”. Here’s the video:

Rather than allowing ourselves to be succumbed by FOMO (the Fear Of Missing Out), we should replace that ‘fear’ with the “joy” of missing out. Because of our need to please, we say yes to things we really don’t want to do; yet when we do that, we miss out on doing things that bring us joy—creating something special, spending time educating ourselves and just having some quiet alone time with ourselves.

Learn to say “no” every time you get a notification to your phone. Ignore it. Learn to say “no” to your colleagues when they want to gossip. Learn to say “no” to volunteering when the thing you are being asked to volunteer for does not excite you. Just learn to say “no”.

By saying “no” to opportunities, distractions and interruptions, you are saying yes to better and more meaningful things. Things you do want to focus your attention on.

6. Create a Distraction-Free Environment for Your Focused Time

This has been possibly the most powerful tip I learned when it comes to focusing on what is important. Have a place where you do only focused, high-concentration work.

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Now this place needs to be clean and only have the tools you need to do your work. If it is writing a report or preparing a presentation, then it needs a table and a computer, nothing more. Files, paper and other detritus that accumulates on and around people’s desks need to go. A clean, cool and well-lit environment is going to do a lot more for your focus and concentration than anything else.

The dining table in our home is where I go for undisturbed, focussed work. I take my laptop or iPad, and only have my writing app open. Everything is closed down and the computer is in “do not disturb” mode. There is nothing else on the dining table just my computer and my water tumbler.

Because that is my designated focus area, I only go there to work when I have something that needs total focus and concentration. I am there right now!

7. Be Intentional

The reality is, if you absolutely need to get something done then you need to be intentional. You have to have the intention of sitting down, focusing and doing the work.

There’s no magic tricks or apps that will miraculously do all your work for you. You need to intentionally set aside time for undisturbed focus work and do it. Without that intention, you can read as many of these articles as you like and you still will not get the work done.

It is only when you intentionally set yourself up to do the work, turn off all notifications and do whatever it takes to avoid distractions will the work get done.

The Bottom Line

The strategies and tips I shared in this post will go a long way to helping you become better at focusing on the important things in your life. No matter what they are, you are in control of your time and what you do with it and where you spend it, never give that control away to anyone else.

Protect it and it will be your servant. Give that control away and it will become your master and that is not a good place to be.

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Featured photo credit: Manny Pantoja via unsplash.com

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