We would like to introduce you to ‘Frugal February’. (As the shortest month of the year, February is the ideal choice for this challenge.)
The idea is simple:
See how much you can cut back on your spending for the next 28 days.
Here are some examples of Frugal February:
- Dine in instead of dining out.
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- Another option would be to funnel the money you are saving from the items suggested above into your investments. “But what about Valentine’s Day?” Try cooking a romantic dinner at home! You can not only get more ‘beef’ for your buck, but you can control a lot more of the ambiance. Plus, you won’t be sitting shoulder to shoulder with strangers (not so romantic), you won’t have to fight for parking, and you won’t have to remember to make a reservation.
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- Reduce your monthly bills.
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- Another option would be to funnel the money you are saving from the items suggested above into your investments. Which subscriptions can you eliminate?
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- Cut services are you paying for that you could do yourself.
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- – Dog walking
- – Housecleaner
- – Landscaper
- Grocery Delivery
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- Pick one thing to put on a 28-day spending freeze
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- – Eating out
- – Coffee on the go
- – Salon Services
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- Increasing your savings
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- Even if it’s nominal, putting a little extra away now will help replenish your rainy-day fund.
- Another option would be to funnel the money you are saving from the items suggested above into your investments.
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Before you decide, remember to only pick what will work for you. Don’t over commit. Ask yourself, what can you commit to for a mere 28 days? Who knows, maybe you will find that there are things you simply don’t need anymore, which means more money in your account.
If you need assistance with your finances and investments, please contact us today.
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