D
H
M
S
Summer sale
Treat yourself to 10% all products as part of our summer sale!
summer10
This 30-day challenge is designed to help you improve your financial habits, build savings, and set yourself on the path toward financial freedom. Each day, you'll have a short and actionable task that will bring you closer to your money goals.
We often underestimate the effectiveness of consistent, small but positive actions. It takes approximately 28 days for a new habit to stick, which is why this 30-day money glow up is perfect for anyone wanting to get smarter with money and change their financial mindset. Retirement might seem far away for you right now. You might now have much disposable income to save or invest. Perhaps you've recently changed jobs or have started a new business (congratulations) and money is tight. Whatever your situation, you can never be overly future-minded when it comes to handling your money better. This 30-day money glow-up is designed to help you become smarter with every aspect of your finances, from saving to spending, debt management and planning for the future.
Week 1: Build Awareness and Set Financial Goals
Day 1: Set Your Intentions
Write down your money goals. Do you want to save more, pay off debt, or invest? Be specific.
Day 2: Track Your Expenses
Start tracking every dollar you spend for the next 30 days. Use an app like Mint or a simple spreadsheet.
Day 3: Calculate Your Net Worth
List your assets (savings, investments, etc.) and subtract your liabilities (debts, loans). This gives you a financial snapshot.
Day 4: Identify Your Financial Weak Spots
Look over the last 3 months of spending and pinpoint areas where you overspend (e.g., dining out, subscriptions).
Day 5: Create a Realistic Budget
Based on your tracked expenses, set up a monthly budget with limits for each spending category.
Day 6: Set Up a Savings Goal
Decide on an amount to save by the end of the 30 days and plan how to reach it. Automate a weekly transfer to your savings account.
Day 7: Review Your Budget and Adjust
Look at your first week’s spending. Did you stick to your budget? Adjust as needed.
Week 2: Save and Cut Back
Day 8: Cut One Unnecessary Expense
Cancel one subscription or cut back on an unnecessary expense (e.g., daily coffee, takeout).
Day 9: Automate Your Bills
Set up automatic payments for recurring bills to avoid late fees and reduce financial stress.
Day 10: Create a Meal Plan
Plan your meals for the week to cut back on dining out and grocery spending. Use apps like Mealime for easy planning.
Day 11: Sell Unused Items
Declutter and sell things you no longer need on platforms like eBay, Poshmark, or Facebook Marketplace. Add the earnings to your savings.
Day 12: Implement a No-Spend Day
Challenge yourself to go an entire day without spending any money. This helps you rethink impulse purchases.
Day 13: Review Your Insurance
Check your car, health, and home insurance policies. Are you paying for things you don’t need? Shop around for better rates.
Day 14: Calculate Your Emergency Fund Needs
Figure out how much you need for 3-6 months of living expenses and start planning how to build your emergency fund.
Week 3: Get Smart About Debt and Savings
Day 15: Review Your Debt
List all your debts, including balances, interest rates, and minimum payments. Identify the highest-interest debt to prioritise.
Day 16: Make an Extra Debt Payment
Add a small amount (even £10) to the minimum payment on one of your debts to start paying it off faster.
Day 17: Open a High-Yield Savings Account
If you don’t have one already, move your savings to a high-yield account to earn more interest on your money.
Day 18: Analyse Your Spending Triggers
What causes you to spend impulsively? Is it stress, boredom, or social situations? Identify these triggers and plan alternatives.
Day 19: Plan a Cheap Fun Activity
Instead of spending money on entertainment, find a free or low-cost activity (like hiking, a movie night at home, or visiting a museum).
Day 20: Create a Sinking Fund
Set up a savings account for future expenses (like vacations or holiday gifts). Plan to contribute a small amount regularly.
Day 21: Check Your Credit Report
Get a free copy of your credit report from AnnualCreditReport.com. Look for errors and areas you can improve your credit score.
Week 4: Build Wealth and Plan for the Future
Day 22: Start Learning About Investing
Watch a video or read an article on beginner investing. Look into different types of investments, like stocks, bonds, or index funds.
Day 23: Automate Your Savings
Set up an automatic transfer from your checking to your savings account on payday to ensure you're saving consistently.
Day 24: Open an Investment Account
If you don’t already have one, open a retirement or brokerage account and start small.
Day 25: Set a Long-Term Financial Goal
What do you want to achieve in 5, 10, or 20 years? Write down your big financial goals (e.g., buying a home, retiring early) and break them into steps.
Day 26: Try the 50/30/20 Rule
Allocate 50% of your income to needs, 30% to wants, and 20% to savings and debt repayment. Adjust your budget based on this rule.
Day 27: Learn About Passive Income
Research passive income streams like real estate, dividend investing, or creating digital products. Find one that interests you.
Day 28: Review Your Progress
Check in with your budget, savings, and debt payoff progress. Have you met your goals so far? Adjust if necessary.
Day 29: Plan for Your Future
Think about your future financial self. Write down what you want your finances to look like in 1 year, 5 years, and beyond.
Day 30: Celebrate Your Money Glow-Up
You’ve completed the challenge! Celebrate by reflecting on how far you’ve come. Reward yourself with something small (within budget!) and commit to continuing your financial journey.
By the end of this 30-day challenge, you’ll have built a strong foundation for your financial future. These small, manageable steps will help you gain control of your money, reduce financial stress, and set you on the path to long-term financial freedom. When you're just getting started, it's important to remember that it's not about saving thousands in one go. Small, manageable actions every day can be far more effective than spontaneous action a couple of time per year. You can take this challenge as many times as you see fit and to remind yourself to stick to your financial goals and stay motivated.
Here’s a list of great books to read on personal finance, budgeting, saving, and achieving financial freedom:
- A step-by-step guide to budgeting, saving, and paying off debt to achieve financial freedom.
- Focuses on transforming your relationship with money and achieving financial independence.
- Provides actionable advice on saving, investing, budgeting, and building wealth.
- Explores how human behavior and emotions influence financial decisions, with insights on saving and investing.
- A classic on building wealth through investing, entrepreneurship, and understanding the difference between assets and liabilities.
- A guide to investing and financial independence, emphasising simplicity in building wealth.
- Examines the habits and behaviors of ordinary people who achieve extraordinary wealth through smart money management.
- Tailored for millennials, this book focuses on budgeting, saving, investing, and building a solid financial foundation.
- While not strictly about finance, this book teaches how small habits lead to significant improvements, including financial habits like saving and budgeting.
- Offers practical, no-nonsense advice on budgeting, investing, and achieving financial security.
11. "Financial Freedom: A Proven Path to All the Money You Will Ever Need" by Grant Sabatier
- Focuses on strategies for early retirement, side hustles, and fast-tracking financial independence.
- A mix of storytelling and practical advice on achieving wealth and financial freedom through disciplined financial choices.
- Written specifically for women, this book empowers readers to take control of their financial futures.
- For business owners and entrepreneurs, this book emphasises budgeting and financial management in business to ensure profit and financial success.
- An easy-to-read classic that offers timeless principles of wealth-building, saving, and investing through parables.
If you enjoyed this challenge, you might also like our money glow-up guide on how to get better at handling your money.