30 Day Money Cleanse

As tax season is wrapping up.. now is a good time to get a better handle on our family’s finances. Timely too as my tan is just wearing off from a trip to Mexico (courtesy of my rockstar wife) and I’m getting ready for a bachelor party in New Orleans at the end of the month. One thing’s already clear – rope in the “discretionary spending”.

The 30 Money Cleanse

I have been listening to Nick Loper’s Side Hustle Nation podcast for several months – and it rocks. Every week he’s got a kick ass guest on that talks about their specialty niche or business.

In January he challenged his audience to the 30 Day Money Cleanse – amended from Personal Capital’s.

I’m taking a stab at it… I won’t update this every day – as some daily goals aren’t entirely interesting and there’s not much to say about them. Some days I expect to complete more than one.  Maybe weekly updates… so here we go!

Update 1: 3/22/2017

Day 1: Track Down Your Money

WOW. We have money spread across over 15 accounts. However this includes 4 credit cards. Two 529 plans for my daughter and a “gift cards” category ($2,000 in unused gift cards!!).

Day 2: Identify your financial goals

Easy – I want to increase by $1,500/month by the end of the year to cover daycare costs.

Day 3: Discover Your Net Worth

This was easy after we found out where everything was in Day 1!

Day 5: Know How Much You Spend

As mentioned in the intro.. miscellaneous discretionary spending is an embarrassing number. We don’t spend an extravagantly on absurd things – I don’t buy thousand dollar watches, and my wife doesn’t buy a new designer purse every other month. But it’s a lot of little things. Some of the most notable:

Bar/Restaurant: read BOOZE. Love throwing a few back with my buddies and having a good bottle of wine with my wife. But there’s probably a boundary that we should set.

Amazon: Yes, we rely on Amazon for a lot of household items (subscribe and save is a game changer!). But I am a radical impulse shopper – and Amazon only enable that. I have countless broken cheap gadgets sitting in a box in my home office – I was on a headphone binge for a while (yes, I realize how weird that sounds). But I was determined to find a pair of bluetooth headphones that I could comfortably workout in. Looking back, I probably could have bought one pair of quality headphones (beats maybe?) and not wasted my time with 8 pairs of junk ones.

But I’m hoping to turn that spending spree into something productive. I WILL WRITE REVIEWS.

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *